Additional Pension From PRC 2015 Implementation, “RETIREMENT” Every employee face this in his/her life. This is the happiest and saddest moment in their lives.
The job he/she achieved,with that he/she survives his/her family and fulfill their desires and lay brighter future for them. But after retirement their life will be completely changed they gets half of the amount as pension and they wants to plan in that pension.
If the family is already settled by savings there will be no problem but if expenditures dominates income that family face lot of problems after their retirement.
Pensioners are eagerly waiting for release of PRC G.O’s because of additional pension. If pensioner dies, benefit will get for their family members. In this 10th PRC those who crossed 70 years get additional pension, this will increase as age increases and reaches 75% in basic pension at the age of 100 years.
This is introduced to reduce the differences between the employees who retired with a short gap. 15% additional pension of pension will available. This will be increased for every 5 years/100 years gets only 50%.
As we have already known that from July 1st 2013 to June 1st 2014 this period will be notional and rest will get in the form of arrears.
How to calculate pension?
1.For example if the pensioner crosses 70 years by July, 2013.
2.If his/her basic pension 10,000/- pensioner gets 15% that means Rs.1500/- as additional pension.
3.Those who crossed 75 years get Rs.2000/-.
4.If pensioner crosses 70 years in the middle of month considers 1st of that particular month. D.A will also be calculated on this additional pension and will be given.
5.Pensionary Benefits in New PRC 2015 for AP, Telangana Pensioners OR How to Calculate pension?
So, the pensioners are waiting enthusiastically.
Age wise details of additional pension to be availed
| Present | Percentage | After | Percentage | |
|---|---|---|---|---|
| 75 – 80 | 15 | 70 – 75 | 15 | |
| 80 – 85 | 20 | 75 – 80 | 25 | |
| 85 – 90 | 25 | 80 – 85 | 35 | |
| 90 – 95 | 30 | 85 – 90 | 45 | |
| 95 – 100 | 35 | 90 – 95 | 55 | |
| 100 and above | 50 | 95 – 100 | 65 | |
| 100 and above | 75 |