Section 21 in The Navy (Pension) Regulations, 1964
21. [ Rank for assessment of Pension. [Substitued by S.R.O. 181, dated 7th Junae, 1983]
(1)The service pension admissible to an officer shall be assessed on the basis of the rank actually held continuously whether in a substantive or paid acting capacity during the last Ten Months before retirement. Provided that an officer who has held the substantive rank of Admiral should have held that rank at least for one year.(2)Where an officer has held a rank for less than the period specified in sub-regulation (1), the pension shall be assessed on the next lower rank held for 10 months.]
