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commutation of pension calculation in tamil
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How to calculate commutation of pension govt employee | commutation of pension calculation in tamil
Commutation for central government employees refers to the process where a government employee opts to receive a lump sum payment in lieu of a portion of their pension. Commutation is calculated based on the commutation factor, which is determined by the age of the employee at the time of retirement.
1. All central government employees who are eligible for a pension can opt for commutation.
2. The commutation factor is a pre-determined value based on the age of the retiree. The older the retiree, the lower the commutation factor.
3. Employees can commute up to 40% of their pension.
4. The commuted portion of the pension is restored after 15 years from the date of retirement.
5. The commuted value is calculated by multiplying the commutation factor, the pension to be commuted, and 12 (to get the annual value).
Example:
If a government employee's basic pension is Rs.64500 per month and they choose to commute 40% of it:
• The amount commuted = 64500 x 40% = 25800.
• If the commutation factor for their age is 8.194, then the commuted value is 25800 x 8.194 x 12 = 25,36,862.
This 2536862 will be paid as a lump sum, and the pension will reduce by 38700 per month, continuing at this reduced rate until the restoration period.

commutation factor table link:
https://pensionersportal.gov.in/comm_table_6CPC.pdf

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