15. Option to be exercised by employee . - (1) An employee entitled for pension under the provisions of the Scheme may opt at the time of making an application for pension in Form PS-6, either to draw,--
(a)the full admissible amount of pension; or(b)ninety per cent. of the total admissible amount of pension till the date of his death; and(c)eighty per cent. of his total admissible amount of pension as widow/widower pension in favour of his/her wife/husband during her/his [life time].(2)Where an employee exercises his option to receive ninety per cent. of the total admissible amount of the pension during his life time, than after his death, in addition to the widow/widower pension, and children pension or orphan pension, as the case may be, his/her nominee shall be entitled to receive in lump sum an amount equivalent to hundred times of his/her full monthly pension.(3)Where an employee under sub-paragraph (1) exercises option to receive ninety per cent. of the total admissible amount of the pension during his/her life time and eighty per cent. of the total admissible amount of pension as widow/widower pension in favour of his/her wife/husband during her/his lifetime, then the nominee shall be entitled to receive an amount equivalent to ninety times of the full monthly pension after the remarriage or death of the widow/widower, whichever is earlier.(4)The option once [exercised ] [Substituted by G.S.R. 268(E), dated 25.5.1998 (w.e.f. 25.5.1998). ]under this paragraph shall be final.
