Legal Document View

Unlock Advanced Research with PRISMAI

Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Section 32] [Entire Act]

Union of India - Subsection

Section 32(10) in Reserve Bank of India Pension Regulations, 1990

(10)In case both wife and husband are employees of the Bank and are governed by the provisions of these regulations and one of them dies while in service or after retirement, the family pension in the case of deceased shall be payable to the surviving husband or wife and in the event of death of the husband or wife, the surviving child or children shall be granted the two family pensions in respect of the deceased parents subject to the limits as may be laid down by the Bank.Commutation TableCommutation values for a pension of Re. 1 per annum
Age next birthday Commutation value expressed as number ofyear's purchase Age next birthday Commutation value expressed as number ofyear's purchase Age next birthday Commutation value expressed as number ofyear's purchase
           
17 19.28 40 15.87 63 9.15
18 19.20 41 15.64 64 8.82
19 19.11 42 15.40 65 8.50
20 19.01 43 15.15 66 8.17
21 18.91 44 14.90 67 7.85
22 18.81 45 14.64 68 7.53
23 18.70 46 14.37 69 7.22
24 18.59 47 14.10 70 6.91
25 18.47 48 13.82 71 6.60
26 18.34 49 13.54 72 6.30
27 18.21 50 13.25 73 6.01
28 18.07 51 12.95 74 5.72
29 17.93 52 12.66 75 5.44
30 17.78 53 12.35 76 5.17
31 17.62 54 12.05 77 4.90
32 17.46 55 11.73 78 4.65
33 17.29 56 11.42 79 4.40
34 17.11 57 11.10 80 4.17
35 16.92 58 10.78 81 3.94
36 16.72 59 10.46 82 3.72
37 16.52 60 10.13 83 3.52
38 16.31 61 9.81 84 3.32
39 16.09 62 9.48 85 3.13
Note: The table above indicates the commuted value of pension expressed as number of year's purchase with reference to the age of pensioner as on his next birthday. The commuted value in case of an employee retiring at the age of 58 years is 10.46 year's purchase and, therefore, if he commutes Rs. 100/- from his pension within one year of retirement, the lump-sum amount payable to him works out to Rs. 100 x 10.46 x 12 = Rs. 12,552/-