*371. SHRI PARESH RAVAL:
SHRI DEVUSINH CHAUHAN:
Will the PRIME MINISTER be pleased to state:
(a) whether the Government has made any rule to give salary/pension to the
Government employees after their retirement; and
(b) if so, the details thereof?
MINISTER OF STATE IN THE MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES
AND PENSIONS AND MINISTER OF STATE IN THE PRIME MINISTER’S OFFICE
(a) & (b): A statement is laid on the Table of the House
STATEMENT REFERRED TO IN REPLY TO PARTS (a) & (b) OF LOK SABHA
STARRED QUESTION NO. 371 for 21.03.2018.
are governed by the Central Civil Services (Pension) Rules, 1972. In
accordance with Rule 49 of these rules, on retirement after completing a
qualifying service of not less than 10 years, a Government servant is
entitled to a pension calculated @ 50% per cent of his last drawn pay or
50% of the average of last 10 months’ pay, whichever is more beneficial to
him, subject to a minimum of Rs.9,000/- per month and a maximum of
Rs.1,25,000/- per month.
National Pension System. Under this system, a Government servant is
required to mandatorily contribute during service 10% of his pay and
dearness allowance to his pension account and an equal amount of 10% of
pay and dearness allowance is contributed by the Government to the
employee’s pension account. On retirement on superannuation, the retiring
Government employee is mandatorily required to invest at least 40% of the
accumulated pension wealth to purchase an annuity from an insurance company
regulated by the Insurance Regulatory Development Authority (IRDA) and a
maximum of 60% of the accumulated pension wealth is given to the
individual in lump sum.
gratuity based on their qualifying service subject to a maximum of Rs.20