Retirement benefits | Family Pension | Commutation of pension calculation

by | Mar 25, 2023 | Retirement Annuity | 31 comments




In this video conversation, we are discussing about the retirement benefits to be paid in the day of retirement and how to prepare pension calculation sheet, family pension, commutation of pension calculation, leave encashment calculation, retirement benefits institute, etc..

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Commutation Factor Table w.e.f. 01/01/2016

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Retirement is a phase in our lives that we eagerly look forward to. It is a time when we can finally take a break from the hectic schedule of work and spend our time with our family, doing things that we love. Retirement also means that we have to start planning for our financial future, and one of the most important aspects of retirement planning is retirement benefits.

Retirement benefits are the financial rewards that an employee receives after he or she retires from service. These benefits may include a pension, health insurance, and other financial benefits. Among all the benefits, the pension is the most commonly known, and it is a substantial benefit that ensures financial stability for the retired employee and their family.

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Family Pension:

When a government employee passes away, their family members are eligible for a pension. The family pension is typically a percentage of the pension that the employee would have received if they were still alive. The family pension is calculated based on the employee’s last salary and the number of years that they have worked. The percentage of the pension to be paid to the family members is typically determined by the government or the employer.

Commutation of Pension Calculation:

Commutation of pension is a process where the employee can opt for a lump sum payment instead of receiving a monthly pension. The lump sum payment is a percentage of the pension that the employee would have received if they were still alive. The formula used to calculate the commuted value of the pension is as follows.

Commutation Value= 40% of the Pension Fund + Commuted Value of Pension

The pension fund is the amount that the employee has contributed towards their pension during their service. The commuted value of pension is calculated based on the age of the employee at the time of retirement and the rate at which the pension is commuted.

In conclusion, retirement benefits are an essential part of retirement planning. It is crucial to understand the benefits that are available and the criteria for eligibility. Aspects such as family pension, commutation of pension calculation, and other financial benefits are crucial factors that need to be considered when planning for retirement. By making the right choices and investments, we can ensure a financially secure and comfortable retired life, which is what we all aim for.

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31 Comments

  1. bachan singh

    गुरु जी प्रणाम । लगता है आप मुझे exam में पास करा के ही मानोगे । आपकी सभी वीडियो बहुत halp full हो रही है मेरे प्रमोशन के लिये। आपसे निवेदन है कि भविष्य में भी ऐसी ही जानकारियों की वीडियो बनाते रहे । आपका हार्दिक धन्यवाद

  2. Rishi Prakash

    My bisec pay 5200 h
    DA 42 persent h
    Service 34 year h kitna amount milyga

  3. Rishi Prakash

    Aap ek sahi basic pay ku nHi lTy jis sy sahi amount ka pata lag sakta

  4. Sangeeta Sethi

    Month ki 1 ko date of birth ho to latest rule kya hai retirement ke liye
    Humne suna tha ki aab 1 January wala 31 January ko hi retire hoga aisa rule aa gaya hai

  5. Khushbu Rajput

    Pwd m clerk m 3000 sallry hai retir m kitna milega

  6. Praful Trivedi

    मैं गुजरात सरकार का क्लास ii ऑफिसर हूं। मैं ३१/५/२३ को रिटायरमेंट होने वाला हू। हाल मेरा बेसिक पे ८१२००/ हैं। और ३४% d,a, मिलता हैं तो मुझे कुल कितनी रकम मील सकती हैं?

  7. prakhar nigam

    Namashkaar Sir..
    Employee k service me reh te huye death kar jaane k case me jab spouse ko family pension milti hai, to kya uss case me bhi 40% pension commute karaa ne ka provision hota hai..?

  8. Pritikana Kundu

    D.B 09.01.1964, DR 31.01.2020
    Last pay drawn 91,100/-.service life OK.
    PF balance a t present 14 lakh.I am in railway.how much l will get on DR?

  9. Dhiraj Patel

    Sir gsrtc nigam employee retierment benifit video banae sir

  10. vinod420786

    thank you sir ji

  11. Rajeev

    Humhe to kuch nahin mila

  12. KAUSHAL KISHOR DWIVEDI

    Thanksalot sir pls make video for NPS AT 25 YEARS of service

  13. HIMANSHU KUMAR

    Retirement ke time par commutation ka option nahi lene par kya bad me commutation le sakta hai kya?

  14. Suresh Kumar

    Main 31/1/2023 ko retire hua hun. Maine retirement k samay pension commutation nahi liya. Kya abhi bhi apply kar sakta hoon? Agar uchit ho to kripaya apna mobile number dene ki kripa karein jis se apse tareeka samajh sakoon

  15. Suresh Kumar

    Kya mainretirement ke 6 maheene baad bhi commutation karaa sakta hoon?

  16. Sanjit Das

    If an employee goes on VRS at 52 years ( 28 years service) and died at 55 years, will the family get enhanced pension & how long ?

  17. Gangesh Kumar

    Sir age relaxation pr koi details dijiye

  18. Vasu Dev

    Kya commutation amount ke upper interest dena hota hai?

  19. SOC etw

    Tyagptra dene par kya pension milegi?

  20. Abdul Rahim Khan

    My Date of Retirement from Indian AirForce is 01-6-1975. There is video showing Pension payment Table starting Retired year 1986 . Would I be replied why I am being Avoided for Table having my detail????

  21. ANAND TRIPATHI

    Sir capf pension ke baare me btayenge

  22. Milap Chand

    Guru ji, pension calculation is same for state and centre employees? Thanks

  23. N B S

    July 2023 mai mera retirement hai

  24. N B S

    Sir ji mere husband 62 year ke hai mai ne 2023 jan mai retired ho jaun gi mai ne husband ko nomination mai first rakha tha koi problem to nai aaye ga aagye

  25. Rajeev

    Kya pension stop bhi ho sakti hai

  26. Md Shahbaz Karim 07

    Sir ek video old pension ke baray me batayay kitna year job karne ke baad full pension milega

  27. RIZWAN KHAN

    Sir agar koi banda retired ho gaya or usne apni pension bech di hai or vo 15 saal se phle death ho jati hai toh kya jo paise Kat rhey hai vo baadh ke mile gaye ya nahi

  28. Sunita Taneja

    Sar mujhe aap clear kariye ki 1/1/2006(6th pay commission ke according) TGT post ke liye basic pay kya fix hui thi. According to someone it is 17140 or 18400. Please

  29. Shahid Husain

    पेंशन 40 प्रतिशत बेंचना क्या ज़रूरी है क्या नहीं भी बेंच सकते हैं?

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