PENSION Sec10(10A) | COMMUTED PENSION | INCOME FROM SALARY | #PENSION #incomefromsalary | AY.2022-23

PENSION Sec10(10A) | COMMUTED PENSION | INCOME FROM SALARY | #PENSION #incomefromsalary | AY.2022-23


PENSION Sec10(10A) | COMMUTED PENSION | INCOME FROM SALARY | #PENSION #incomefromsalary | AY.2022-23



Commutation of Pension




A Central Government servant has an option to commute a portion of pension, not exceeding 40% of it, into a lump sum payment. No medical examination is required if the option is exercised within one year of retirement.



A regular income paid by a government or a financial organization to someone who no longer works, usually because of their age or health: comfortable/decent/generous pension They receive a generous pension, typically 75% of last pay drawn. pension plan/scheme Her new job offers a company pension scheme.