Adding Notional benefit of 5 years for pension calculation

[narayanarao paluri]

Dear all,

I am a VRS optee of IOB.yesterday I received pension details from

IOB.The pension was computed for 16 years(actual service).while sending

tentative calculations earlier my pension was calculated for 21 years .

(16+ 5 years noticed benefit )Can somebody throw light on the actual
rule

position regarding adding NOTIONAL BENEFIT of 5 years to pensioners.
----------------------------

please clarify.Basing on the clatrification I would like to take up the

issue with the bank


P V Narayana Rao
9866577006
rao_...@rediffmail.com

P.V.Narayana Rao

cell:98665 77006
email: rao_...@rediffmail.com

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[ravindra krishna]

Addition of 5 years is only for employees who have completed 20 years of completed service. Even one day less ( for 20 complete years) in case of loss of pay will dis-entitle you from the benefit of additional 5 years

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[narayanarao paluri]

Thank for the info

On Mon, 28 Feb 2011 14:11:42 +0530 wrote

>Addition of 5 years is only for employees who have completed 20 years
of completed service. Even one day less ( for 20 complete years) in
case of loss of pay will dis-entitle you from the benefit of additional
5 years


On Sun, Feb 27, 2011 at 7:23 PM, narayanarao paluri

[SBMPC Blore]

Dear friend,

Minimum service for the benefit of additional notional service to the extant of five years is service in excess of 19 1/2 years of service, but not 20 years of service.  This is on account of Supreme Court Judgement in Mr.Venkataramani's case, a copy of which is attached hereto.

Thanking you,

With regards,

Prasad C N

 

On 28 February 2011 12:40, ravindra krishna <rav...@gmail.com> wrote:

Addition of 5 years is only for employees who have completed 20 years of completed service. Even one day less ( for 20 complete years) in case of loss of pay will dis-dentitle you from the benefit of additional 5 years