Section 35 in United Bank of India (Employees') Pension Regulations, 1995
35. Amount of Pension.
(1)In respect of employee who retired between the 1stof January 1986 but before the 31stday of October 1987, basic pension and additional pension will be updated as per the formula given in Appendix-I.(2)In the case of an employee retiring in accordance with the provision of the Service Regulations or Settlement 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 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 purpose 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 sub-regulation (2) and (3) above shall be subject to the minimum pension as specified in these regulations.(5)An employee who has commuted the admissible portion of his pension as per the provisions of Regulation 41 of these Regulations 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 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.
