Section 12(2) in The Insurance Regulatory And Development Authority (Conditions Of Service Of Officers And Other Employees) Regulations, 2000
(2)The pay, allowances and other benefits shall cease to accrue to an officer and other employee from the date,-(a)he ceases to be in service; or(b)he is dismissed, removed or compulsorily retired from the service; or(c)following the date on which he dies.
