TS PRC 2023 Minimum Pension/ Family Pension To Pensioners, Family Pensioners: Hello readers! Hearty welcome on our page. India operates a complex pension system. However, the Indian pension system has three major pillars: solidarity and social assistance called the National Social Assistance Program (NSAP) for the elderly poor. Civil servant pensions (now open to all) and mandatory defined contribution pension programs for private sector employees and state-owned.
Employees’ Provident Fund Organisation and several voluntary schemes for employees of companies. In this blog, we are going to discuss the TS PRC 2023 Minimum Pension/ Family Pension To Pensioners, Family Pensioners. For acquiring complete information, stay tuned with us.
About TS PRC 2023 Pension
The Pay Revision Commission (PRC) in its report has said that the minimum pension/family pension should be fixed at Rs 9,700 per month. That would be 50 percent of the minimum pay in the Revised Master Scale. If a Government servant dies while in service, the enhanced family pension shall be payable for a maximum period of 10 years from the day following the date of death of the employee/pensioner or till the employee/pensioner attains the age of Would have lived for 65 years, whichever is earlier.
It is recommended to provide a family pension to the mentally retarded and physically challenged son & daughter of an employee. And it is for their whole life even after their marriage. And to provide relief to pensioners who retired very early. An additional pension at the rate of 15 percent of the recommended basic pension from the age of 75 years. And up to 100 percent of the basic pension to pensioners aged 100 years and above is proposed. Furthermore, it has been recommended to increase the maximum amount of gratuity payable at the time of retirement from Rs.12 lakh to Rs.16 lakh. And the amount of relief on the death of a service pensioner/family pensioner was to be Rs.20,000 to Rs.30,000.
The financial assistance is recommended to be raised to the level of minimum service pension. And enhanced family pension after 1st July 2018 without any dearness relief. Restoration of the commuted portion of the pension after 15 years will continue till the commutation table is in place. Regarding the Contributory Pension Scheme (CPS)/New Pension Scheme (NPS), the Commission has increased the employer’s share to 14 percent of (Basic Pay + DA) from 10 percent (Basic Pay + DA).
TS PRC 2023 Minimum Pension/ Family Pensioners – Overview
|Article for||TS PRC 2023 Pension|
|Authority||Pay Revision Commission (PRC)|
|Theme||Minimum Pension/ Family Pension To Pensioners, Family Pensioners|
|Basic Calculator for||New IR, DA, Fitment|
Minimum Pension/ Family Pension to Pensioners TS PRC 2023
As you all are well aware of this, a pension is an important source of income for individuals after retirement. The Government of Telangana provides pension benefits to its employees who have retired from service. In this blog post, we will discuss the minimum pension and family pension given to pensioners in Telangana.
Minimum Pension: The minimum pension in Telangana is Rs 9,500 per month for employees retiring on or after July 1, 2018. The minimum pension is revised from time to time, and the latest revision was done in 2018. This minimum pension amount is applicable to all pensioners including PRC 2020 pensioners, who are getting pension less than Rs 9,500 per month.
Family Pension: It means a spouse or dependent family member. A family pension is a type of pension provided to the spouse or dependent family members of the deceased pensioner. The minimum family pension in Telangana is 50% of the minimum pension, which is Rs 9,500 per month. If the deceased pensioner was drawing a higher pension, then the family pension would be 50% of the pension received by the deceased pensioner.
Eligibility Criteria of TS PRC 2023 Pension
- To be eligible for minimum pension or family pension in Telangana, the employee must have completed a minimum of 10 years of service.
- The pensioner must have retired from the service of the Government of Telangana or any of its affiliated organizations.
- Family pension is payable to the spouse or dependent family members of the deceased pensioner.
- Pensioners can apply for minimum pension or family pension by submitting the necessary documents to the concerned department.
- The documents required for minimum pension are a pension payment order, service book, and life certificate.
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