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Union of India - Section

Section 56 in The Life Insurance Corporation of India (Employees) Pension Rules, 1995

56. Residuary provisions.

- Matters relating to pension and other benefits in respect of which no express provision has been made in these rules shall be governed by the corresponding provisions contained in the Central Civil Services (Pension) Rules, 1972 or the Central Civil Services (Commutation of Pension) Rules, 1981 applicable for central government employees.[Appendix I] [Substituted by Notification No. G.S.R. 282(E), dated 26.3.2018 (w.e.f. 28.6.1995).][See rule 2(f)]
Sl. No.(1) Category of Employees(2) AppointingAuthority(3)
(i) Chairman ofthe Corporation and Managing Director Central Government
(ii) Posts in theCadres of Zonal Manager and above and equivalent cadres ExecutiveCommittee
(iii) Posts in theCadres of Deputy Zonal Manager/Senior Divisional Manager, Divisional Manager andequivalent cadres Chairman
(iv) Posts in theCadre of Assistant Divisional Manager, Senior Branch Manager andequivalent cadres ManagingDirector
(v) Posts in theCadre of Branch Manager/Administrative Officer. Executive Director (Personnel)
Appendix II(See rule 29)
Actual service rendered on PermanentPart-time basis(1) Length ofcorresponding qualifying service for each year of servicerendered on permanentpart-time basis for calculating the amount of pension(2)
Less than 3 hours ¼th of a year
3 hours or more but less than 4 hours 3/8th of a year
4 hours or more but less than 5 hours ½ of a year
5 hours or more but less than 6 hours 5/8th of a year
6 hours or more but less than 7 hours ¾th of a year
7 hours or more but less than 8 hours ⅞th of a year
Appendix III(See rule 35)The formula of updating basic pension and additional pension in respect of employees who retired between the 1st day of January 1986 and the 31st day of July, 1987 shall be as under:
(1)A. Basicpension shall be increased by an amount of -(a)50 per cent of first Rs. 1000 of the average emolumentsreckonable for pension.(b) 45 per cent of next Rs.500(c) 40 per cent of the average emoluments reckonablefor pensionexceeding Rs. 1500Total of (a + b + c) Rs.__________________Rs. __________________Rs.__________________Rs. __________________(A)
B. 50 per centof the average monthly emoluments for the last 10 months inservice prior to retirement. Rs.__________________(B)
C. Dearnessrelief at index number 600 in the All India Average ConsumerPrice Index for Industrial Workers in the series 1960=100, onbasic pension calculated at (1) above, as per Table given below Rs.__________________(C)
D. Totalincreased basic pension=(B + C) x number of years ofqualifying service(Max.33 years)_________________________________________ =33 Rs.__________________(D)
E. Basic pensionas on 1.11.1993 (rounded off to the next higher rupee) Rs.__________________(E)
(2) For increasein the additional pension, amount of special allowances countedfor making contributions to Provident Fund will be increased withreference to the quantum of special allowances ranking forProvident Fund as per the Staff Regulations or Service Rules
TableRates of dearness relief worked out at index no. 600 in the All India Average Consumer Price Index for Industrial Workers in the series 1960=100 for all classes of employees who retired during the period 1.1.1986 to 31.07.1987:
(a)Class IV employees 80.40per cent of pension calculated at (1) above
(b)Class III employees drawing pension upto Rs. 757/- per month 67per cent of pension calculated at (1) above
(c)Class III employees drawing pension of Rs. 757/- per month andabove will be eligible for dearness relief as under:
Amountof basic pension drawn per month(Rs.)(1) Theamount of dearness relief admissible(Rs.)(2)
757to 796 508.00
797to 804 534.00
805to 824 540.00
825to 844 553.00
845to 864 567.00
865to 884 580.00
885to 904 593.00
905to 924 607.00
925to 944 620.00
945to 964 634.00
965to 984 647.00
985to 1004 660.00
1025to 1044 687.00
1045to 1064 701.00
1065to 1084 714.00
1085and above 727.00
(d)Class I and Class II employees shall be eligible for dearnessrelief as under:
(i)For those drawing basic pension upto Rs . 765/- per month 66per cent of the amount of pension calculated as at (1) abovesubject to a maximum of Rs. 500/-
(ii)For those drawing basic pension from Rs. 766/- to Rs. 1165/- permonth Rs.500/-
(iii)For those drawing basic pension from Rs. 1166/- per month orabove 42.90per cent of the amount of pension calculated as at (1) abovesubject to a maximum of Rs. 715/-
Appendix IV(See rule 37)Dearness relief on basic pension shall be as under:
(1)In the case of employees who retired on or after the 1st day of January, 1986, but before the 1st day of November, 1993, dearness relief shall be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 600 points in the quarterly average of the All India Average Consumer Price Index for Industrial Workers in the series 1960 = 100. Such increase or decrease in dearness relief for every said four points shall be calculated in the manner given below:
Scaleof basic pension per month(1) Therate of dearness relief as a percentage of basic pension(2)
(i) upto Rs.1250/- 0.67 per cent
(ii) Rs.1251/- to Rs. 2,000/- 0.67 per centof Rs. 1250/- plus 0.55 per cent of basic pension in excess ofRs. 1250/-
(iii) Rs.2001/- to Rs. 2130/- 0.67 per centof Rs. 1250/- plus 0.55 per cent of the difference between Rs.2000/- and Rs. 1250/- plus 0.33 per cent of basic pension inexcess of Rs. 2000/-
(iv) aboveRs. 2130/- 0.67 per centof Rs. 1250/- plus 0.55 per cent of the difference between Rs.2000/- and Rs. 1250/- plus 0.33 per cent of the differencebetween Rs. 2130/- and Rs. 2000/- plus 0.17 per cent of basicpension in excess of Rs. 2130/-.
(2)In the case of employees who retire on or after the 1st day of November, 1993, dearness relief shall be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 1148 points in the quarterly average of the All India Average Consumer Price Index for Industrial Workers in the series 1960 = 100. Such increase or decrease in dearness relief for every said four points shall be calculated in the manner given below:
Scaleof basic pension per month(1) Therate of dearness relief as a percentage of basic pension(2)
(i) upto Rs.2,400/- 0.35 per cent
(ii) Rs.2,401 to Rs. 3,850/- 0.35 per centof Rs. 2,400/- plus 0.29 per cent of basic pension in excess ofRs. 2,400/-
(iii) Rs.3,851 to Rs. 4,100/- 0.35 per centof Rs. 2,400/- plus 0.29 per cent of the difference between Rs.3,850/- and Rs. 2,400/- plus 0.17 per cent of basic pension inexcess of Rs. 3,850/-
(iv) aboveRs. 4,100/- 0.35 per centof Rs. 2,400/- plus 0.29 per cent of the difference between Rs.3,850 and Rs. 2,400/- plus 0.17 per cent of the differencebetween Rs. 4,100/- and Rs. 3,850/- plus 0.09 per cent of basicpension in excess of Rs. 4,100/-
(3)[ Notwithstanding anything contained in Para (1) and Para (2), in respect of employees belonging to Class-III and Class-IV, who have retired on or after the 1st day of August, 1992 and in respect of Officers belonging to Class-I and Class-II, retired on or after 1st day of April, 1993, dearness relief shall be payable or be recoverable as may be determined from time to time.] [Para (3) added vide Government Notification dated 22.4.1997 and further amended vide notification dated 14.5.1999.][3(A) In case of employees who have retired or died on or after the 1st day of August 1997, the dearness relief shall be payable for every rise or to be recoverable for every fall, as the case may be, of every 4 points over 1740 points in the quarterly Average Consumer Price Index for Industrial Workers in the series of 1960 = 100 Such increase or decrease in dearness relief for every said 4 points shall be at the rate of 0.23 per cent of the Basic Pension; [Notified in Gazette of India, Part-3 Section 3 dated 22.6.2000]