PENSION ,GRATUITY,COMMUATATION ,OLD AGE,LTA BENEFITS FOR POST 1-2006

Punjab State Electricity Board has adopted the circular issued by Punjab Govt for employees post 1/2006 pensioners .The other benefits Like Gratuity,Commutation,allowance etc to post 1/2006 pensioners are same as of Punjab Govt employees.The Full circular issued by punjab Govt and Key benefits are summarised below. 
BENEFITS TO PENSIONERS /RETIREE

Govt of Punjab ,Department of Finance has notified implementation of Fifth Punjab pay commissioBn regarding Pension and other retirement benefits for employees who retires/die on or after 01.01.2006 vide notification no 03/23/09/3pppc/871 dated 17/08/2009 and for employees who retires/die before 01.01.2006 (pre 01.01.2006 pensioners family pensioners/recipients ) vide 03/23/09-3-fppc/885 dated 17/08/2009.

Key benefits to employees who retires/dies AFTER 01.01.2006

1. Pension shall be 50 % of basic pay( pay in pay band plus grade pay) plus NPA .
2. pension shall be calculated on the basis of last pay drawn or average empluments of last 10 month which ever is beneficial to employee.
3. Minimum Basic pension/family pension shall be 3500/- rs from 01.01.2006.
4. Additional pension to old pensioners /family pensioners for age 65-5 %,75 -10%,80-20%,85-30%,90-40%,95-50%,100-100% shall be given.
5. DA is also admissible on additional pension as above.
6. the above allowance/additional pension is admissible from the first day of the month in which his date of birth falls.
7. Maximum limit for Death cum retirement Gratuity is raised from 3.5 lacs to 10.00 lacs.The person who has already received their gratuity shall also eligible to get balance payment as per new revised rules.
8. Family pension rates shall continue to be calculated to earlier rates (30% of basic pay( pay in pay band plus grade pay) plus NPA
9. Commutation::40% of pension can be commuted as per old rules.the same shall continue in new rules also,
10. New commutation table has been inserted for commutation. This new tables will be used for all commutations of pension become absolute after the date of issue of this order i.e 17/08/2009.
11. Moreover new tables shall be used where commutation has been done due to increased in pension due to revised pay scale. If  employee wants to commute addition in pension due to revised scale then new table of commutation shall applicable.
12. Limit of ex gratia ,in case of death in harness ,is increased to 10 lacs from 3.00 lacs.
13. Travel concession: Existing provisions shall continue.
14. If new revised pension is lower than pension admissible in old pension rules than old pension shall be continue.
15. Enhanced pension Basic pension, Da ,Commutation of pension, Gratuity Shall be payable from 01.01.2006.however decision about payment of arrears from 01.01.2006 to 31.07.2009 shall be taken in due course.
16. Increase in allowance and other benefit like Old age allowance ,Medical, constant attendance allowance ,ex- gratia shall take effects from 17.08.2009.

COMPLETE NOTIFICATION IS HERE GIVEN UNDER (IT WILL TAKE TIME TO LOAD)

http://paycommissionpunjab.blogspot.com/2009/04/pension-calculator-fi.html No. 3/23/09-3FPPC/879 GOVERNMENT OF PUNJAB DEPARTMENT OF FINANCE (FINANCE PENSION POLICY AND COORDINATION BRANCH) Dated Chandigarh the 17-8-2009 To All Heads of Departments, Commissioners of Divisions, Registrar, Punjab and Haryana High Court, District and Sessions Judges, and All Deputy Commissioners in the State. Subject: Implementation Of the recommendations of the Fifth Punjab Pay Commission regarding Pension and other retirement benefits. Sir/Madam I am directed to invite a reference to the subject cited above and to say that after careful consideration of the recommendations of the Fifth Punjab Pay Commission, the Governor of Punjab is pleased to revise/modify/grant various benefits to the pensioners of the State as indicated in the succeeding paragraphs DATE OF EFFECT 1.The revised provisions as per these orders shall apply to Govt. employees who retire/die in harness on or after 1st January, 2006 (separate orders are being issued in respect of employees who retired/died before 1st January, 2006). Where pension/family pension/gratuity/commutation of pension etc has already been sanctioned in cases occurring on or after 1-1-2006, the same shall be revised in terms of these orders. In cases where pension has been finally sanctioned on the pre-revised orders and if it happens to be more beneficial than the pension becoming due under these orders, the pension already sanctioned shall not be revised to the disadvantage of the pensioner in view of the proviso to the rule 9.15(1) of Punjab Civil Services Vol-II. 2.EMOLUMENTS, AND AVERAGE EMOLUMENTS 2.1 The term ‘Emoluments’ for the purposes of calculating various Pensionary benefits other than the death-cum-retirement gratuity shall mean pay as defined in rule 6.19.6 of Punjab http://www.simpletaxindia.org/