Pensionary Benefits in New PRC 2015, Pension Calculations in New PRC 2015: One of the terms of reference of the Commission is it to examine the existing pension structure and to make recommendations on changes if any, which are desirable and feasible.
The State Government employees are at present governed by the A.P. Revised Pension Rules, 1980 and also the A.P. Civil Service (Commutation) Rules. The State Government is broadly following the Rules of Government of India in the matter of pension. However, keeping in view the existing rules and the requests made by the associations and individuals the following recommendations are made on each item.
Keeping in view the problems of pensioners who retired a long time ago, this Commission recommends the following enhanced rates of Additional quantum of pension.
Age of the pensioners Additional quantum of pension
- From 70 years to less than 75 years 15% of basic pension
- From 75 years to less than 80 years 25% of basic pension
- From 80 years to less than 85 years 35% of basic pension
- From 85 years to less than 90 years 45% of basic pension
- From 90 years to less than 95 years 55% of basic pension
- From 95 years to less than 100 years 65% of basic pension
- 100 years or more 75% of basic pension.
Flash News: GO.100 Dated: 21-07-2015, Above mentioned recommendations are not accepted TS Government. As per this Govt. Order i) ADDITIONAL QUANTUM OF PENSION: The existing pattern of additional quantum of pension shall continue as ordered in G.O.Ms.No 100 Finance (Pen-1) Department, dated 06.04.2010.
This Pay Revision Commission is of the view that it is desirable to continue to fix the minimum pension/ family pension at 50% of the minimum of the proposed master scale. The proposed minimum of the Master scale is Rs.13000/‐. The Commission, therefore, recommends that the minimum pension/ family pension may be fixed at Rs.6500/p.m
Keeping in view of the increase in the pay structure, the Commission recommends to enhance the maximum limit of Gratuity, from the existing Rs.8.00 lakhs to Rs.12.00 lakhs
At present the maximum commutation permissible is 40% even in the Govt. of India. This Commission is also of view that the existing ceiling commutations of 40% is adequate
Commission recommends to continue the existing time period of 15 years for the restoration of commuted pension and revise it as and when Government of India modifies the period for restoration
A.G., A.P. for verification of service. The employee has to submit the pension forms 18 months in advance to the date of retirement. The Head of Office/ Head of the Department should process the papers and send them to the A.G., A.P. 6 months before the date of retirement.
Considering the increase in the cost of medical consultation, the Commission recommends an increase in the medical allowance to the pensioners/family pensioners from Rs.200/to Rs.350/per month. This may be disbursed along with their monthly pension. Pensionary Benefits in New PRC 2015
KNOW YOUR NEW PENSION
NEW PENSION CALCULATIONS AS FOLLOWS
- NEW BASIC OF PENSION= (OLD BASIC OF PENSION) *(2.06344)
- Gross pension = (NEW BASIC OF PENSION*1.08908)+ 350(medical allowance)
- For example, if one pensioner getting pension with basic of pension 6500, then his new basic will be 6500*2.06344=13412
- There is no stages for pensioners.
- Gross pension = (13412*1.08908)+350(medical allowance)= 14957
- Net Pension = Gross Pension – Commutation = 14957 – 2600 = 12357 (If he retired with 2015 PRC.)
D.R. Matter for Pensioners:
1.Present D.R for pension is 8.908%
2.In this PRC this Commission recommends that Dearness Allowance be regulated at 0.524% for the State Government Employees/pensioners for every 1% of Dearness Allowance sanctioned to the employees of Government of India With effect from 1.1.2014.
3.D.R Rate is Decreased from 0.856% to 0.524%
D.R Will be calculated as follows
- D.R Rate for state Govt Pensioners = (Central announced D.R*0.524)
- From 01.01.2014 to 30.06.2014 D.R = 10*0.524%=5.24%
- From 01.07.2014 to 31.12.2014 D.R=( 10+7)*0.524%=8.908%
- From 01.01.2015 to 30.06.2015 D.R Will be announced later.
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