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  • Illustration I: Superannuation Case: Formula For Calculation of DCRG

    Transféré par

    Kudicheti Damodaram
    20 vues2 pages
    ABC retired from government service on 31 July 2005 after 37 years and 1 month of gross service. Their pension was calculated as Rs. 6,630 per month, with Rs. 2,652 of that amount commuted. Their commuted pension amount was Rs. 3,332,879. Their Death-cum-Retirement Gratuity (DCRG) was calculated as Rs. 2,73,141 based on their last pay of Rs. 16,554 per month including DA. ABC's family is entitled to an enhanced family pension of Rs. 6,630 per month for 7 years or until 15 July 2012, whichever is earlier, after which the normal family pension will be Rs. 3,978 per month.

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    Illustration I

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    Illustration I

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    ABC retired from government service on 31 July 2005 after 37 years and 1 month of gross service. Their pension was calculated as Rs. 6,630 per month, with Rs. 2,652 of that amount commuted. Their commuted pension amount was Rs. 3,332,879. Their Death-cum-Retirement Gratuity (DCRG) was calculated as Rs. 2,73,141 based on their last pay of Rs. 16,554 per month including DA. ABC's family is entitled to an enhanced family pension of Rs. 6,630 per month for 7 years or until 15 July 2012, whichever is earlier, after which the normal family pension will be Rs. 3,978 per month.

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    20 vues2 pages

    Illustration I: Superannuation Case: Formula For Calculation of DCRG

    Transféré par

    Kudicheti Damodaram
    ABC retired from government service on 31 July 2005 after 37 years and 1 month of gross service. Their pension was calculated as Rs. 6,630 per month, with Rs. 2,652 of that amount commuted. Their commuted pension amount was Rs. 3,332,879. Their Death-cum-Retirement Gratuity (DCRG) was calculated as Rs. 2,73,141 based on their last pay of Rs. 16,554 per month including DA. ABC's family is entitled to an enhanced family pension of Rs. 6,630 per month for 7 years or until 15 July 2012, whichever is earlier, after which the normal family pension will be Rs. 3,978 per month.

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    Illustration I : Superannuation Case

    1. Name and Designation of the


    retired Govt. Servant
    2. Class of Pension
    3. Date of Birth
    4. Date of Appointment
    5. Date of Retirement
    6. Gross Service
    7. Non-Qualifying Service
    8. Net-Qualifying Service
    9. Time Scale of Pay
    10. Pay Details

    : ABC
    : Superannuation
    : 12/07/1945
    : 05/06/1968
    : 31/07/2005
    : 37Y-01M-26D
    : 00Y-00M-13D
    : 37Y-01M-13D
    : 6500-200-10500
    : Rs. 8700/- + 4350/- wef 01/10/2004
    Rs. 8900/- + 4450/- wef 01/01/2005

    11. Average Emoluments for


    Pension
    (Based on the pay drawn during last 10
    months)

    12. Emoluments for Pension


    Formula for Calculation of
    Pension

    13. Pension
    14. Pension Commuted

    : (8700+4350) x 3 = 39,150
    (8900+4450) x 7 = 93,450
    = 1,32,600
    Rs. 1,32,600/10 = Rs. 13,260/: Rs. 13,260/: 50% of Average Emoluments
    (For a maximum of 66 SMPs and the pension will be
    reduced proportionately according to the total SMPs of
    service).
    : 13,260 x 50/100 x 66/66 = Rs. 6,630/- per month wef
    01/08/2005.
    : Rs. 6,630 x 40% = Rs. 2,652/(Max commutable pension is 40%)

    15. Factor
    : 10.46
    16. Reduced Pension
    : Rs. 6,630 Rs. 2,652 = Rs. 3,978
    17. Commuted Value of Pension : Rs. 1,473 x 10.46 x 12 = Rs. 3,32,879/(Commuted Pension x Factor based on Age next birthday x 12)

    Formula for Calculation of


    DCRG

    : Emoluments of DCRG x SMPs/4


    (limited to a max of Rs. 3,50,000/-)

    18. Last Pay Drawn


    19. DA @24%

    : Rs. 8,900/- + 4,450/- (50% of DP)


    : Rs. 3,204/-

    20. Emoluments for DCRG

    : Rs. 16,554/(DCRG Emoluments is LPD+DA)

    21. DCRG
    22. Family Pension

    : Rs. 16,554/- x (66/4) = Rs. 2,73,141/: (i) Enhanced rate @ Rs. 6,630/- per month up to
    15/07/2012 or for 7 years from the day following the date
    of death which ever is earlier.
    (ii) Normal rate @ Rs. 3,978/- per month thereafter.

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