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TN Commutation of Pension – Pensioners who have retired between 1-1-2016 and 30-09-2017

October 31, 2017 By admin Leave a Comment

TN Commutation of Pension – Pensioners who have retired between 1-1-2016 and 30-09-2017

COMMUTATION OF PENSION

There shall be no change in the provision relating to commutation values, the limit upto which the pension can be commuted or the period after which the commuted pension is to be restored. Commutation of pension shall accordingly be calculated on pension determined as per provision in paragraph 15 above for employees who retire after 1-1-2016. The commuted portion of pension, wherever applicable, shall be deducted from the pension while making monthly disbursements.

Pensioners who have retired between 1-1-2016 and 30-09-2017 and have commuted their pre-revised pension as per the Tamil Nadu Civil Pension (Commutation) Rules, 1944 shall be entitled to commute the additional amount of pension consequent to revision of pension. Such pensioners shall be allowed to file a revised option, to be exercised within 3 months from the date of issue of this order, for commutation of the additional amount of pension consequent on revision of pension. They shall also be permitted to exercise option to not to commute the difference in pension consequent on revision of pay / pension. In case of failure to exercise the option, the default option shall be to not to commute the additional amount of pension.

In respect of pensioners who have retired between 1-1-2016 and 30-09-2017, the age reckoned for calculation of commuted value of pension at the time of original application for commutation of pension shall apply for additional commutation of pension.

In respect of pensioners who have retired between 1-1-2016 and 30-09-2017 but have died before issue of this order, commutation of additional amount of pension consequent to revision shall not be permissible since option cannot be exercised in such cases.

As the entitlement of revised pension shall be inclusive of commuted portion of pension, the commuted portion, wherever applicable, shall be deducted from the pension while making monthly disbursement.

Related posts:

  1. Commutation Value of Pension Calculator 2018
  2. Commutation of Additional Pension for KV Employees as per 7th CPC
  3. Frequently Asked Questions for Central Civil Services – Commutation of Pension
  4. Revision of Pension, Gratuity, Commutation of Pension for Defence Pensioners – DESW Orders on 4.9.2017
  5. Revision of Pension of Pre-01.01.2016 retired Armed Forces Pensioners/ Family Pensioners – PCDA Circular No.585

Filed Under: 7th Central Pay Commission Tagged With: 7th CPC Pension Calculation, TN Commutation of Pension, TN Govt Pay Commission




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