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Union of India - Section

Section 32 in Reserve Bank of India Pension Regulations, 1990

32. Family Pension.

(1)Without prejudice to the provisions contained in sub-regulation (3), where an employee dies -
(a)after completion of one year of continuous service; or (aa) before completion of one year of continuous service provided the deceased employee concerned immediately prior to his appointment to the service or post was examined by the Bank 's Medical Officer and declared fit for employment; or
(b)after retirement from service and was on the date of death in receipt of a pension, or compassionate allowance, the family of the deceased shall be entitled to Family Pension.
Explanation. - The expression "one year of continuous service" wherever it occurs in this rule shall be construed to include "less than one year of continuous service" as defined in clause (aa)
(2)The amount of family pension shall be fixed at monthly rates and be expressed in whole rupees and where the family pension contains a fraction of a rupee, it shall be rounded off to the next higher rupee; provided that in no case a family pension in excess of the maximum shall be allowed.
(3)Where at the time of death the employee has completed 7 years of continuous service, family pension may be paid at 50% of pay last drawn or twice the ordinary rate of family pension, whichever is less, provided the employee was not covered by the Work-men's Compensation Act, 1923. In case the employee was covered by the Work-men's Compensation Act, 1923, the family pension should be 50% of the pay last drawn or 1½ times of the ordinary rate of family pension whichever is less. The pension at this higher rate is payable for a period of 7 years or till the deceased employee would have attained the age of 65 years had he survived, whichever is less.
(4)In the event of death after retirement, the family pension at twice the ordinary rate of family pension or @ 50% of the pay last drawn, whichever is less, shall be payable from the date following date of death for a period of 7 yeas or till the deceased employee would have attained the age of 65 years, whichever is less, provided that the amount of enhanced family pension as above shall not exceed the normal pension admissible on retirement.
(5)The ordinary rate of family pension will be as under:
Pay Range Rate of family pension per mensem
Upto Rs.2870/- 30% of pay, subject to a minimum of Rs.720/ p.m
Rs.2871/- to Rs.5740/- 20% of pay subject to a minimum of Rs.860/- p.m.
Above Rs.5740/- 15% of pay , subject to a minimum ofRs.1150/-p.m. and maximum of Rs.2400/- p.m.
Explanation. - In the case of a part-time employee, the minimum and maximum amounts of family pension shall be in proportion to the rate of wages applicable.
(6)The period for which family pension is payable shall be as follows :-
(a)in the case of a widow or widower, upto the date of death or remarriage, whichever is earlier; (c) in the case of an unmarried daughter, until she attains age of twenty-five years or until she gets married, whichever is earlier.
Provided that if the son or daughter of an employee is suffering from any disorder or disability of mind or is physically crippled or disabled so as to render him or her unable to earn a living, the family pension shall be payable to such son or daughter for life in accordance with the instructions issued in this regard by the Bank.
(7)
(a)The family pension shall not be payable to more than one member of the family at the same time.
(b)If a deceased employee or pensioner leaves behind a widow or widower, the family pension shall become payable to the widow or widower, failing which to the eligible child.
(c)[Family pension to the children be payable in the order of their birth and younger of them will not be eligible for family pension unless the elder next above him/her has become ineligible for the grant of family pension.] [Substituted for 'If sons and unmarried daughters are alive, unmarried daughters shall not eligible for family pension unless the sons attain the age of twenty five years or start earning and thereby become ineligible for grant of family pension.']
(8)Where a deceased Bank employee or pensioner leaves behind more children than one, the eldest eligible child shall be entitled to the family pension for the period mentioned in clause (b) or clause (c) of sub-regulation (6) of this Regulation, as the case may be and after the expiry of that period the next child shall become eligible for the grant of family pension.
(9)Where family pension is granted under this Regulation to a minor, it shall be payable to the guardian on behalf of the minor.
(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/-