Death-cum-Retirement Gratuity under New Pension
System to Central Government employees under New Pension System (NPS).
The information was stated by Minister of State for Finance, Shri Namo
Narain Meena, in written reply to a question in the Lok Sabha.
Gratuity Pay under New Pension System
Death-cum-Retirement Gratuity is paid to Central
Government employees under New Pension System (NPS) as it is paid under
the old pension scheme. The monthly annuity under the New Pension
System (NPS) is only a replacement of pension on retirement and family
pension of death after retirement. The benefits of Death cum Retirement
Gratuity (DCRG) and pension/family pension have been provisionally
allowed, vide the Office Memorandum of Department of Pension and
Pensioners’ Welfare No. 38/41/06-P & PW(A) dated 5.5.2009 in respect
of Central Government servants covered under NPS in cases where a
Government Servant is retired on invalidation/disability and in the case
of death of a Government servant in service on the same rates as are
applicable under the old pension scheme Central Civil Service (Pension)
Rules, 1972.
The retirement gratuity is payable to the retiring
Government servant. A minimum of 5 years’ qualifying service and
eligibility to receive service gratuity/pension is essential to get this
one time lump sum benefit. Retirement gratuity is calculated @ 1/4th of
a month’s Basic Pay plus Dearness Allowance drawn before retirement for
each completed six monthly period of qualifying service.
The maximum retirement gratuity payable is 16½ times
the Basic Pay, subject to a maximum of Rs. 10 lakh. If the Government
Servant dies while in service, the death gratuity shall be paid to his
family at rates furnished in the table below:
Sl. No.
|
Length of Qualifying Service
|
Rate of Death Gratuity
|
1. | Less than one year | 2 times of emoluments |
2. | One year or more but less than 5 years | 6 times of emoluments |
3. | 5 years or more but less than 20 years | 12 times of emoluments |
4. | 20 years or more | Half of emoluments for every completed six monthly period of qualifying service subject to a maximum of 33 times of emoluments. |
Courtesy : cgstaffnews.com
0 comments:
Post a Comment