Home » Civil Services Rules » PENSION: Central government employees pension account: Here’s a list of factors you must note; Govt approves pension option for over 42,000 employees of PSU insurers …
The Minister of State for Development of North Eastern Region (I/C), Prime Minister’s Office, Personnel, Public Grievances & Pensions, Department of Atomic Energy, Department of Space, Dr. Jitendra Singh presented the ‘Anubhav awards’ to the retired Government servants for Best write-ups, at the inauguration of the workshop on ‘Anubhav’ and ‘Sankalp’, in New Delhi on February 19, 2016. The Secretary of Department of Administrative Reforms, Public Grievances (DARPG), Shri Devendra Chaudhry is also seen.
The Minister of State for Development of North Eastern Region (I/C), Prime Minister’s Office, Personnel, Public Grievances & Pensions, Department of Atomic Energy, Department of Space, Dr. Jitendra Singh presented the ‘Anubhav awards’ to the retired Government servants for Best write-ups, at the inauguration of the workshop on ‘Anubhav’ and ‘Sankalp’, in New Delhi on February 19, 2016. The Secretary of Department of Administrative Reforms, Public Grievances (DARPG), Shri Devendra Chaudhry is also seen. (Image Courtesy: pib website)

PENSION: Central government employees pension account: Here’s a list of factors you must note; Govt approves pension option for over 42,000 employees of PSU insurers …

PENSION NEWS

Central government employees pension account: Here’s a list of factors you must note
Govt approves pension option for over 42,000 employees of PSU insurers
7th Pay Commission: Latest update for 55.1 lakh pensioners
Give govt employees freedom to choose fund managers: PFRDA
More…

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Central Government Service Rules

Central government employees pension account: Here’s a list of factors you must note

Apr 06, 2019
Zeebiz.com
All central government employees are entitled to receive pension on their retirement. However, they should know what they are entitled to so as to ensure no glitch deprives them of any aspect, especially regarding pension. Generally, pension is given even to those employees who have come across major injuries. However, the eligibility criteria is that, a central government employee is allowed pension after she or he puts in service of 10 years and more. A retiring pension is granted to a Government servant who is permitted to retire after completing qualifying service of 25 years. Currently, in India, pension is calculated at 50% of emoluments (last pay) or average emoluments (for last 10 months), whichever is more beneficial to the central government employees. However, there are certain rules and regulations in regards to how one should manage their pension account. It can be in case of withdrawals, transfer or any other services related to their bank account. …

Pension option for employees of PSU insurers
Govt approves pension option for over 42,000 employees of PSU insurers

This benefit is applicable to those who have joined any of the public sector insurance companies (PSICs) on or before June 28, 1995
Moneycontrol.com
March 2, 2019,
In a big bonanza to over 42,000 employees of public sector insurance companies, the government on March 2 decided to give one more pension option as retirement benefit to these left over officers and staff who missed the opportunity in the past. …

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7th Pay Commission: Latest update for 55.1 lakh pensioners

Oneindia.com 
August 05, 2017
The 7th Pay Commission made several recommendations on the fixation of pension. The pension, as had been fixed at the time of implementation of the 6th Pay Commission recommendations, may be multiplied by 2.57 to arrive at an alternate value for the revised pension.
The 7th Pay Commission however recommended that the pensioners may be given the option of choosing the formulation which is more beneficial to them. …

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Give govt employees freedom to choose fund managers: PFRDA   

Zeenews.india.com
April 12, 2016
New Delhi: Insurance regulator PFRDA wants government employees to be given freedom to choose their fund managers and investment pattern for money invested in Atal Pension Yojana. …

 Bank fined for not following due recovery procedure (for excess pension)

TimesofIndia.indiatimes.com
Oct 3, 2015
CHENNAI: A consumer forum here has fined State Bank of India 30,000 for not following the proper recovery proceedings after inadvertently crediting an excess amount in the pension account of a retired government official. …

Digital Certificate for Pensioners

New Delhi, Dec 05, 2014
Under the “Digital India Mission” Government of India has launched a Jeevan Pramaan application on 10.11.2014. the facility provides an option to a pensioner to give his life certificate remotely through the Jeevan Pramaan portal (https://jeevanpramaan.gov.in/). Aadhaar Number is used for authentication of pensioners. As a result of this facility the pensioner is not required to present himself before his pension disbursing agency or produce other documents that he is alive. Instructions related to submission and acceptance of ‘Jeevan Pramaan’ as additional mode for submission of life certificate have been issued to all the stakeholders by Controller General of Accounts. The Pension disbursing banks have been directed to implement the new life certification system immediately as an additional mode for submission of life certificate. This was stated by Shri Arun Jaitley, Finance Minister in written reply to a question in the Lok Sabha today. (Source: pib press release)

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