## What is the formula for calculation of pension?

Kasturirangan says, “The formula to calculate the EPS pension is as follows: Monthly pension amount= (Pensionable salary X pensionable service)/70.” Pensionable service: This refers to the number of years for which contributions were made to the EPS account.

## What is the commutation formula?

Formula for working out Commuted Value of pension = Amount of pension to be commuted X 12 X purchase value for age next birth day.

**How is pension calculated in Tamilnadu?**

Pension shall be determined based on 50% of pay last drawn. NOTE: Now the minimum pension is Rs. 3050/-w.e.f. 1.1. 2007.

### How is Uncommuted pension calculated?

The amount of taxable uncommuted pension is calculated as under: Uncommuted pension June 1 to Dec 31, 2012 = Rs. 1,05,000/- [ ie Rs. 15000 x 7 ].

### How is pension calculated as per 7th CPC?

After regular retirement the pension has been calculated under CCS Pension Rules….Examples of New Pension Determination.

Retired on | 31.05.2015 |
---|---|

Pay band at the time of retirement | 67000-79000 (6thCPC Scale) |

Final Pay on retirement | 79,000 |

Old Pension as on 1.1.2016 | 39,500 |

Revised pension (multiply with 2.57) | 1,01,515 |

**What is pension commutation example?**

Such pension received in advance is called commuted pension. For example, at the age of 60 years, you decide to receive 10% of your monthly pension in advance for the next 10 years worth Rs 10,000. This will be paid to you as a lump sum. Therefore, 10% of Rs 10000x12x10 = Rs 1,20,000 is your commuted pension.

#### How much monthly pension will I get from NPS?

Calculation of Monthly NPS Pension Payouts | ||
---|---|---|

NPS Annuity Purchase Price | ₹50 lakh | ₹50 lakh |

Annuity Provider | LIC of India | Bajaj Alliance Life Insurance |

Average Annual Annuity Returns | 5.34% | 6.31% |

Monthly Pension from NPS annuity | ₹22,231 | ₹25,411 |

#### What is Uncommuted basic pension?

Uncommuted Pension: Uncommuted Pension refers to Pension received periodically. Any amount received as Uncommuted Pension is fully taxable in the hands of both govt and non-govt employees. 2. Commuted Pension: Commuted means Interchange.

**What is Mcq Uncommuted pension?**

(a) Uncommuted pension is a periodic payment received after retirement. Illustration : Mr. Keshav receives pension of Rs. 25,200 per month after his retirement from Shyamal Ltd. (b) Commuted pension is a lump sum payment in lieu of periodic pension.