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[Cites 0, Cited by 0] [Section 12] [Entire Act]

Union of India - Subsection

Section 12(3) in The Employees' Pension Scheme, 1995

(3)In the case of an existing member in respect of whom the date of commencement of pension is after the 16th November, 2005,
(i)Superannuation or early pension shall be equal to the aggregate of:
(a)pension as determined under sub-paragraph 42) for the period of pensionable service rendered from the 16th November, 1995 or Rs. 635 per month, whichever is more;
(b)past service pension shall be as given below:
The past service pension payable on completion of 58 years of age on 16th November, 1995.
Sl.No. Years of past service Salary upto Rs.2,500 per month Salary more than Rs 2,500 per month
  (1) (2) (3)
(i) Upto 11 years 80 85
(ii) More than 11 years but upto 15 years 95 105
(iii) More than 15 years but less than 20 years 120 135
(iv) Beyond 20 years 150 170
The amount udder column (2) or column (3) above, as the case may be, shall be multiplied by the factor given in Table "B" corresponding to the period between the 16th November, 1995 and the date of exit to arrive at past service pension payable.
(ii)The aggregate of (a) and (b) calculated as above shall be subject to a minimum of Rs. 800 per month, provided the eligible service is 24 years. Provided further, if it is less than 24 years, the pension as computed above shall be reduced proportionately subject to a minimum of Rs. 450 per month.