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Increase / Decrease in Pension and Commute with Age, Basic Pay and Services

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عمر، بنیادی تنخواہ اور خدمات کے ساتھ پنشن اور سفر میں اضافہ / کمی

The Increase and Decrease in a pension depend on the following factors:

■ Last Drawn Basic Pay

■ Age at the time of retirement

■ The total length of service at the time of retirement

Although the employee can take retirement at any time after 25 years of service, however, these above factors can increase or decrease the pension/gratuity or commute amount. I have already explained in detail about the right time to get retirement from the service of an employee. Let’s check the various values of pension and commute with various factors.

Example of calculation

To know in detail the effect of the factors on pension and gratuity we shall take the example of an employee of BPS-16 with 25 years’ service, Rs. 61970/- Basic pay, and 55 years of age. If Government doesn’t revise the basic pay scales during the next 5 years, the basic pay of the said employee will be as under during the next five years:

■ 61970/- (Current)

■ 64230/- (01-12-2022)

■ 66490/- (01-12-2023)

■ 68750/- (01-12-2024)

■ 71010/- (01-12-2025)

The current age of the employee = is 55 years

Total Service (current) = 25 years

Calculation of Pension with Various Factors

Now let’s calculate the amount of commute or gratuity and pension taking the above values:

At 55 years of age

■ Basic Pay = Rs. 61970/-

■ Age= 55 Years

■ Service = 25 years

At 56 Years of Age

■ Basic Pay = Rs. 64230/-

■ Age= 56 Years

■ Service = 26 years

At 57 Years of Age

■ Basic Pay = Rs. 66490/-

■ Age= 57 Years

■ Service = 27 years

At 58 years of age

■ Basic Pay = Rs. 68750/-

■ Age= 58 Years

■ Service = 28 years

At 59 years of age

■ Basic Pay = Rs. 71010/-

■ Age= 59 Years

■ Service = 29 years

Table of Comparison of Pension and Commute / Gratuity

The employees should also check their service records before they get retirement. The mistakes in records may cause difficulties for the employees. Especially the date of birth, if there is an issue with the date of birth, the employee should get it corrected well in time. I have explained in detail the procedure to correct the date of birth of the employee as per the service record and CNIC. This will really help the employees. After checking all the observations, the employee can decide his exact time of retirement.

Via Galaxy World

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