WHAT IS YOUR CONTRIBUTION FOR GETTING O.R.O.P.?

IMPORTANT NEWS: A NEW GUIDE BOOK ON DEFENCE PENSION IN ENGLISH IS RELEASED ON 30.12.2018. COST IS RS.50 ONLY. iT WILL BE VERY USEFUL FOR DEFENCE PENSIONERS. CONTACT PHONE:0462-2575380 THOSE WHO WANT NEW ECHS SMART CARD PLEASE CONTACT EXWEL TRUST PHONE NO.04622575380, 9894152959 PLEASE VISIT OUR WEBSITE: www.exweltrust.in exweltrust.in

UNITY IS OUR STRENGTH

DEAR VETERANS
OUR UNITY IS VERY IMPORTANT
PLEASE HELP THE POOR JAWANS

THEY ARE MORE IN NUMBER

BRING THEM UNDER YOUR COMMAND
BY LOVE & COMPASSION
THEN YOU SEE HOW
THINGS MOVE WITH THE GOVT


PLEASE THINK IT OVER

ALL SEP, NK, HAV WHO HAVE PAID INCOME TAX CAN GET REFUND BY REFILING WITH FORM 10E CONTACT EXWEL TRUST FOR HELP AND GUIDANCE

SOME IMPROVEMENT IN PENSION FOR LOWER RANKS />
ARREARS FROM 01.07.2014.has been paid />
Minimum pension for Sep.Y15 yrs. Rs.17130 />< /> KNOW THE RATES OF DISABILITY PENSIONS

W.E.F.01.07.2014

(FOR PRE 01.01.06)(100%)
READ CDA CIRCULAR 555
Table No.76(FOR 100%)
READ CIRCULAR 555
OTHER RANKS (FOR 100%)
READ CIRCULAR 555

WAR INJURY PENSION
FOR ALL RANKS (100%)
READ CDA CIRCULAR 555

DISABILITY PENSION &
WAR INJURY PENSION
TO BE PAID WITH D.A.

CONSTANT ATTENDANCE ALLOWANCE
FOR ALL RANKS (FOR 100%)
Rs.6750/-W.E.F. 01.07.2017

MINIMUM SPECIAL FAMILY PENSION
Rs.7000/- W.E.F.01.07.2014 for 6 months service

@@@@@

IT IS BETTER TO KNOW

YOUR PENSION ENTITLEMENTS THAN

YOUR LIQUOR QUOTA

HELP ALL TO GET
CORRECT PENSION FROM BANKS

REMEMBER, THAT OUR DEMAND OF

ONE RANK ONE PENSION

ACCEPTED BY GOVT.Circular issued

But Our demands are not fully accepted

OUR FIGHT CONTINUES

JOIN THE MISSION TO WIN

THERE IS NO GAIN WITHOUT PAIN

LET US FIGHT FOR JUSTICE
OROP MEANS
EQUAL PENSION
FOR EQUAL RANK
GROUP,AND SERVICE
IRRESPECTIVE OF DATE
OF RETIREMENT
WHETHER POST 01.01.2006
OR PRE 01.01.2006

@@@@@@@@

VISIT www.exweltrust.in

for calculating your OROP arrears

DUAL FAMILY PENSION AGREED BY TN GOVT


"நல்ல நிர்வாகத்தால் வழங்கப்படும்

நீதி தான் உயர்ந்தது.

நீதி மன்றங்களினால் பெறப்படும் நீதிகள்

நிர்வாகத்துக்கு பெரும் அவமானம்

என்பதை நிர்வாகம்

(Ministry of Defence)

நன்கு உணர வேண்டும்."

DE LINKING ORDER ISSUED ON 30SEP16

ARREARS FOR CIR.547,548 & 560 TO BE

PAID TO ALL ELIGIBLE PENSIONERS BY BANKS

தமிழக அரசு இரண்டு குடும்ப பென்சன்

வழங்க அனுமதி அளித்துவிட்டது. செய்தி.

முன்னாள் படை வீரர் குடும்பங்களின்

நலன் காப்பது ராணுவ அமைச்சகத்தின்

தலையாய கடமையாகும்

GOVT. OF TAMIL NADU SANCTIONED

SECOND FAMILY PENSION IS A GOOD NEWS.

@@@@@@

Disclaimer

The postings in this Blog are only the personal opinion and do not necessarily reflect the views of the “indianexserviceman” blog team. These are expressed in good faith for the general welfare of the veterans of the Indian Armed Forces. The contents of this blog are neither for business nor for any commercial gains. Neither the “indianexserviceman” blog team nor the individual authors of any material on this blog accept responsibility for any loss or damage however caused (including through negligence), which you may directly or indirectly suffer arising out of your use or reliance on information contained on or accessed through this blog. All views and opinions presented are solely those of the surfer and do not necessarily represent those of “indianexserviceman” blog team. This is not an official blog site. This blog is run by a team of Air Warriors of the IAF (Veterans). It is not affiliated to or officially recognized by the MOD or AHQ or Air HQ or Govt/State or any other organization.

"நாட்டுக்காக உயிர் நீத்தவர்களை நினைக்காதநாடு இனி யாரும் அதற்காக உயிர் விடும் தகுதியை இழந்துவிடும்."

PENSION GUIDE BOOK IN HINDI AVAILABLE FREE DOWNLOAD. CLICK HERE.

---------------------------------------------------------------------------

MESSAGE FOR READERS

(THOSE WHO WANT NEW ECHS SMART CARD CONTACT EXWEL TRUST) புதிய ECHS கார்டுக்கு விண்ணப்பிக்க எக்ஸ் வெல் அறக்கட்டளையை அணுகவும். முகவரி "எக்ஸ்வெல் டிரஸ்ட் " 3D புனித மார்க் தெரு,ஜான்ஸ் ஹய் ஸ்கூல் ரோடு சமாதானபுரம், திருநெல்வேலி 627002. போன்:9894152959. 04622575380 வரும்போது உங்கள் பான் கார்டு ஆதார் கார்டு மற்றும் டிஸ்சார்ஜ் புத்தகம் கொண்டு வரவும். ONLY EXWEL TRUST IS DOING THIS SERVICE. DO NOT MISS IT. CONTACT IMMEDIATELY. www.exweltrust.in Click for the application form என்ற இணைய தளத்தை பார்க்கவும்

Sunday, May 3, 2009

COMMUTATION OF PENSION


WHAT IS COMMUTATION OF PENSION ?


This is the only source of lump sum amount available to a pensioner at the time of retirement other than PF and Gratuity. Accepting commutation is individual pensioner’s choice. Normally, it is advisable for a young defence pensioner to opt for the commutation before retirement. The application for commutation must be given before retirement or within one year from the date of retirement. Defence pensioners are given commutation only once.

45% of the Pension (for PBOR) & 43% (for Officers) (pre 2006 pensioners) is deducted from the pension, multiplied by a factor based on the age and purchased for 12 years and paid in lump sum. The commuted amount is refunded after 15 years.


This amount is a great support to the young pensioner. Most of the PBOR pensioners do not bother as to how the amount is calculated. It is a general belief that the computerized PPOs are always correct, provided the basic data entered are correct. Therefore every pensioner must verify the basic data such as Name, date of birth, number, rank, date of enrollment, rank, date of discharge, total service, name of spouse, bank account number etc., before accepting the payment.


Nowadays, the PPOs are sent well before the date of commencement of pension. The Original PPO (The Bank copy) is directly sent to the bank by the Record Office and a carbon copy of the PPO (Called pensioners copy) is sent to the pensioner by Registered post by the record office. Every pensioner should read it thoroughly take few Xerox copies and keep it safe.


Now on the date of commencement of pension, one can report to the bank with PPO copy and insist for payment of gratuity and commutation. The very purpose of sending the PPO in advance is to enable the pensioner to get the gratuity and commutation on the date of commencement of pension. But none of the banks pay on the date of commencement of pension, even if the PPO is held with them. This is because, the pensioners are not aware of the rules regarding the payment of commutation and gratuity, and therefore the banks are exploiting the situation. Very few know the rule that if the gratuity is delayed beyond a period, the pensioner can claim delayed interest @ 12% p.a. from the person responsible for payment.


Then comes the date of reduction of the commuted value from the pension. Clear printed instructions are given at the back side of the PPO. Every pensioner must make sure that the reduction in the pension is made from the date the capitalized sum is credited to the pensioner’s account. If the payment of commutation is delayed for any reason, then please make sure that the reduction in pension is made from the date of payment of commutation and not from the earlier date or from the date of commencement of pension. This is very important. I have come across some pensioners, whose PPOs were missed in transit. Due to this there was considerable delay in payment of commutation, but the banks reduced the pension from the date of commencement of pension instead of reducing from the date of payment of commutation. Banks are doing without knowing the rules. But if you do not object, you will be the loser.


For example, let us take the Pension is Rs.5000 and the date of commencement is 01.01.2008 and the amount commuted is say Rs.2250. Due to some reasons, if the PPO is delayed say for 10 months and the bank pays your commutation on 31.10.2008. In this situation you must make sure that you get full pension of Rs.5000 with D.R. from 01.01.08 to 31.10.08 without any reduction of Rs.2250 from your pension. If you are not careful, the bank will reduce a sum of Rs.22,500 for ten months (2250 x 10) from your pension arrears. I have seen even commissioned officers fail to notice this point while getting first payment. Once you have missed this amount it is very difficult to get it back.


Supposed if the capitalized value was paid on 15th of a month, then the full pension will have to be paid for 14 days of the month and remaining days reduced pension can be paid.


Now I request all the readers to verify their date of payment of the capitalized sum with the entries in the bank pass book and if you find a delay of more than one month from the date of commencement of pension and the amount of pension is reduced, please make a claim to the Bank for the refund of the amount reduced.


These retirement benefits (Commutation, PF and Gratuity) are not taxable. The absolute date of commutation means, the date on which the competent authority accepts and signs the commutation application.


Reduction in Pension - Click

Nomination for commutation - Click


3 comments:

Unknown said...

The above is very useful information that you have put up. Could you please give the authority for the above.

Unknown said...

Sir for veterans completing 15 years is there provision for applying second commutation? If yes what is the procedure?

T.V.Gowtham said...

Have you found the way to apply for second commutation? If yes, please share it.