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[Cites 0, Cited by 0] [Section 8] [Entire Act]

State of Punjab - Subsection

Section 8(2) in Punjab Privately Managed Recognized Aided Schools Retirement Benefits Scheme, 2012

(2)Pension shall be commuted at the rate of fifty per cent of the average pay of the last ten months. The admissibility of full pension shall be on completing thirty three years qualifying service. In case the qualifying service for pension is less than thirty three years, the pension shall first be calculated at the rate of fifty per cent of average pay of last ten months and then it shall be proportionately reduced. If the pension so commuted falls short of rupees 375, (the same shall be raised to rupees 375 in all cases.