PENSION ENTITLEMENTS OF EMPLOYEES RETIRING FROM THE CENTRAL GOVERNMENT – NO PROPOSAL TO INCREASE OR DECREASE THE AGE OF RETIREMENT OF CENTRAL GOVERNMENT EMPLOYEES
GOVERNMENT OF INDIA
(a) whether the Government has worked out a plan to lower the age of senior citizen entitlement of employees to 58 years;
(b) if so, the details thereof;
(c) whether the Government is contemplating to increase or decrease the age for pension;
(e) the details of salient features of pension policy?
(e): The salient features of the pension entitlements of employees retiring from the Central Government are as under:
i. A Government servant retiring in accordance with the rules, after completing a qualifying service of not less than 10 years, is entitled to a pension @ 50% of his last pay or 50% of average emoluments for the last 10 months, whichever is more beneficial to him/her.
ii. After completion of 80 years of age or above, additional pension @ 20% to 100% is payable to the retired Government servant.
iii. A retired/retiring Government servant is entitled to, at his/her option, a lump sum payment, by commutation of a maximum of 40% of his/her pension.
iv. On retirement, a Government employee is entitled to a retirement gratuity based on his/her emoluments and length of qualifying service.
v. On death of a Central Government pensioner, the family is entitled to a family pension the amount of which is 50% of the last pay for a period of seven years, or for a period up to the date on which the retired deceased Government servant would have attained the age of 67 years had he/she survived, whichever is earlier. Thereafter, the amount of family pension is 30% of his last pay. The amount of family pension is also increased by 20% to 100% after the family pensioner attains the age of 80 years and above.
Vi. The family of a Government servant, who dies while in service after having rendered not less than seven years’ continuous service, is entitled to a family pension 50% of the last pay for a period of ten years. Thereafter, the amount of family pension is 30% of his/her last pay.