Section 33 in Nagaland Rural Bank (Employees') Pension Regulations, 2018
33. Amount of pension.
(1)In case of an employee who retired between the 1st day of September, 1987 and 31st day of October, 1987, the basic pension and additional pension wherever applicable, shall be upgraded as per the formula specified in Form-I.(2)In the case of an employee retiring after completing a qualifying service of not less than thirty-three years, the amount of basic pension shall be calculated at fifty per cent of the average emoluments.(3)(a)Additional pension referred to in sub-regulation (1) shall be fifty per cent of the average amount of the allowance drawn by an employee during the last ten months of his service.(b)No dearness relief shall be paid on the amount of additional pension.Explanation. - For the purposes of this sub-regulation, "allowance" means allowance which are admissible to the extent counted for making contributions to the Provident Fund.(4)Pension, as computed, being aggregate of pension and additional pension, shall be subject to the minimum pension as specified in regulation 34.(5)An employee who has commuted the admissible portion of his pension as per the provisions of regulation 39, shall receive only the balance of pension, monthly.(6)(a)In the case of an employee retiring before completing a qualifying service of thirty-three years, but after completing a qualifying service of ten years, the amount of pension shall be proportionate to the amount of pension and additional pension admissible under sub-regulations (2) and (3) and in no case the amount of pension shall be less than the amount of minimum pension specified in these regulations.(b)Notwithstanding anything contained in these regulations, the amount of invalid pension shall not be less than the ordinary rate of family pension which would have been payable to his family in the event of his death while in service.(7)The amount of pension finally determined under these regulations shall be expressed in whole rupee and where the pension contains a fraction of a rupee, it shall be rounded off to the next higher rupee.
