PENTION CALICULATIONS

NEW PENSION CALCULATIONS AS FOLLOWS

1. NEW BASIC OF PENSION= (OLD BASIC OF P ENG I ON GV ) *(2.06344)

2. Gross pension = (NEW BASIC OF PENSION*1.08908)+ 350(medical allowance)

3. For example, if one pensioner getting pension with basic of pension 6500, then his new basic will be 6500*2.06344=13412

4. There is no stages for pensioners.

5. Gross pension = (13412*1.08908)+350(medical allowance)=  14957

6.  Net Pension = Gross Pension - Commutation = 14957 - 2600 = 12357 (If he retired with 2015 PRC.)

D.R. Matter for Pensioners:

1.Present D.R for pension is 8.908%

2.In this PRC this Commission recommends that Dearness Allowance be regulated at 0.524% for the State Government Employees/pensioners  for every 1% of Dearness Allowance sanctioned to the employees of Government of India With effect from 1.1.2014.

3.D.R Rate is Decreased from 0.856% to 0.524%
  
D.R Will be calculated as follows
1. D.R Rate for state Govt Pensioners = (Central announced D.R*0.524)
2. From  01.01.2014 to 30.06.2014 D.R = 10*0.524%=5.24%

3. From 01.07.2014 to 31.12.2014 D.R=( 10+7)*0.524%=8.908%

4. From 01.01.2015 to 30.06.2015 D.R  Will be announced later.