Superannuation Pension: On retirement after attaining the age 58 with at least 10 years service.

Early Pension: To a member retired or left employment before the age 58 but having 10 years service. Pension before the age 58 but not earlier than the age 50. Will be reduced by 4% for every year the age falls short of 58.

Computation of Monthly Pension-

Pensionable Salary   Pensionable Service

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Pensionable Salary: Average monthly pay during the preceding 60 months from the date of exit. (High Court of Kerala has quashed the amendment for raising the period from 12 months to 60 months).

Pensionable Service: The period for which contribution paid or payable. Two years will be added as grace period to a member who superannuated on attaining the age of 58 and having at least 20 years service.

Eligible Service – Rounding off: The fraction of service for 6 months or more to be rounded off to full year – less than 6 months to be ignored.

Options for whom left service earlier than the age of
58 years.

•  For a scheme certificate

•  For early pension

• For withdrawal benefit

Monthly member’s pension: shall not be less than
Rs. 1000/-

Pension to disabled: Minimum Rs. 1000/- No age condition. Even one month contribution will make a member eligible for this.

Pension to the widow / widower: If member dies while in service or after the date of exit from service which qualified for pension.

Minimum: Rs. 1000/- per month up to death or re-marriage

Children Pension: For each child up to the age of 25.

Equal to 25% of the widow pension: Minimum Rs.250/-Only for two at a time in preference of elder children.

For a disabled son/daughter: No restrictions as to age  and other beneficiaries.

Orphans pension: 75% of the widow pension – Minimum Rs.750/- Each orphan is eligible to monthly orphan pension till he attains the age of 25 years. For disabled, shall be payable beyond 25 years of age.

The member has option:

To defer receipt of pension upto the age of 60. Then the pension amount to be increased @4% per year. To contribute upto the age of 60.