How do I calculate pension under the Family Pension Act of 1995.?

Question

I am employed with one company since November 1984 and will retire in the year 2012 when I complete sixty years of age. What could be my monthly family pension?

Answer 1

Better you get the suggestion from the well experience in Accountancy or concerned persons for proper answer

Answer 2

Though I am not the right person to answer this question, I wish to answer with the little knowledge I have.

The pension scheme is started only from 1996 (may be 1995)

I was told that if you completed 20 years of service and crossed the basic pay by Rs.6500/- pm, then you will get the full pension of Rs.2000/- pm.

Check with PF department for exact details and if you come to know, please write to me.

good luck

[e-mail]

http://www.geocities.com/pnkmurthy/lic.h...

Answer 3

Get the plan documents, your latest statements, and then make an appointment with an experienced financial planner or tax consultant. No one on this board can give you your answer based on the data you provided