Punjab govt employees to get full pension after 25 yrs of service
The Punjab government on Friday announced full pension to employees seeking retirement after 25 years, against the earlier condition of 33 years.Updated: Jun 15, 2012 23:58 IST
The Punjab government on Friday announced full pension to employees seeking retirement after 25 years, against the earlier condition of 33 years.
"It has been decided that government employees, who have rendered minimum qualifying service of 25 years, would be entitled to full pension equal to 50 per cent of emoluments i.e. last pay drawn or average emoluments, whichever was beneficial to him," finance minister Parminder Singh Dhindsa said in Chandigarh.
The orders would be applicable with effect from December 1, 2011, he added.
The finance minister said the method of calculation of proportionate pension in those cases, where the actual qualifying service rendered by a retiree was less than 25 years, the amount of proportionate pension would be calculated by dividing the actual qualifying service (in six-monthly periods) by 50 (i.e. six-monthly periods of 25 years).
First Published: Jun 15, 2012 23:48 IST