03 November 2010
Monthly Pension: This is based on a formula = (Pensionable Salary x Pensionable Service) / 70. (i) Pensionable Salary = average monthly salary over 12 months immediately preceding the date of exit from the scheme. (ii) Pensionable Service = service in years rendered by the member for which contributions have been received. Normally this would be limited to Rs. 6,500.00 p.m. unless certain enhanced contributions are made by the employer.
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