What is Commuted pension and Uncommuted for retired central government employees ?
Monthly pensions credited in bank account after deduction on commutation amount is treated as commuted pensions ?
1 Replies
Vishwesh
(Banker)
(2 Points)
Replied 12 March 2016
The pension that is paid as a lump sum to a pensioner is the commuted pension. In lieu of the amount paid as a lump sum, an amount is deducted monthly from the normal pension. If a person receives pension of Rs. 20000 and he commutes Rs. 6000 to receive a lump sum amount the balance Rs 14000 will be the uncommuted pension.
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