Funds provision as per AS-15 Norms

[Narayanan Venkateshwaran]

It is stated, for every ₹1/  month( ie ₹12/ year) additional commitment, pension fund needs to be filled up with ₹178/ to earn the return of ₹12 per annum. 

None of the common pensioners have seen a single acturial report so far as they are drawn up with very many presumptions  /assumptions of course necessary. 

New pension scheme got introduced in 2010 and recruitment upto that Period only

are under OPS. 

The earliest in this batch now in service would have been recruited in 1986.

If the age of entry is assumed at 20 they will now be in the process of retirement. 

The latest would be 2009 retiring in 2049.

SVRS was brought in 2001.Hence recruitment from 2001to 2010 would have been very minimal. Major outgo from pension fund would be for employees between 1986 and 2000.

The last of OPS category will retire in 2050.

Including family pension the fund need to last only till 2070/2080 on a tapering basis(As fund has become self LIQUIDATING). 

It will be interesting to see such a report to know the magnitude of fund filling to fulfill the updation aspiration of retired

C V Narayanan

.