Commuted Value pension meaning in tamil

Commuted Value Share DEFINITION of 'Commuted Value'

The present value of the future series of cash flows required to fulfill a pension obligation. Commuted value is therefore the net present value of a future financial obligation. This value can be computed mathematically assuming a given rate of interest.

BREAKING DOWN 'Commuted Value'

Pension fund managers must compute commuted value in order to determine their payout obligations and reserve requirements . The process for this calculation is similar to computing net present value of a capital budgeting project. The higher the interest rate, the lower the amount required, and vice-versa. The further into the future the money will be required, the lower the commuted value, and vice-versa.

Trading Center Commuting Expenses Present Value - PV Commutation Net Present Value Of Growth Opportunities ... Accumulated Benefit Obligation Adjusted Present Value - APV Net Present Value - NPV Economic Value Of Equity - EVE Pension Shortfall Next Up Dictionary: # a b c d e f g h i j k l m n o p q r s t u v w x y z Content Library Articles Terms Videos Guides Slideshows FAQs Calculators Chart Advisor Stock Analysis Stock Simulator FXtrader Exam Prep Quizzer Net Worth Calculator Connect With Investopedia Work With Investopedia About Us Advertise With Us Write For Us Contact Us Careers Get Free Newsletters Newsletters Work With Investopedia About Us Advertise With Us Write For Us dgcjxqsw. pension plan specialistsContact Us Careers © 2017, Investopedia, LLC. All Rights Reserved Terms Of Use Privacy Policy
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What is the extent of neutralization of relief granted to pensioners?

100% neutralization of relief is granted to all pensioners at the same rate like serving employees.

 

Is Personal Pension to be discontinued with effect from 1.1.1996?

Yes

 

What is the medical allowance for pensioners?

Rs.100/- is granted to each of the pensioners not covered by CGHS. Pensioners living in cosmopolitan cities not covered by CGHS dispensary are also eligible on production of a certificate to that effect.

 

Is a re-employed pensioner eligible for DR?

Yes, provided his pay is fixed at the minimum of the scale on re-employment.

 

When can pension be withheld or withdrawn?

Future good conduct is an implied condition of every grant of pension and its continuance under the CCS (Pension) Rules, 1972.  The pension or a part there of can be withheld or withdrawn in such cases where a pensioner is convicted of a serious crime or found guilty of a serious or a grave act of misconduct/negligence after retirement, or during the period of service, including the service rendered upon re-employment after retirement.

 

What is restoration of pension and when is it due?

Restoration of the fraction of the pension commuted by the pensioners becomes due for restoration after completion of 15 years period from the date of payment of lumpsum value of commutation.

 

What should I do for the restoration of pension?

Restoration of commutation is made against an application made by the pensioner to the pension disbursing authority on completion of 15 years period from the date of payment of lumpsum value of commutation.

 

What is enhanced family pension and how long is it paid?

Enhanced family pension is payable upto attainment of 67 years of age of the pensioner or upto 7 years after the death of pensioner whichever is earlier.

 

Are the employed family pensioners and the re-employed pensioners entitled to Dearness Relief (DR) on their family pension/ pension?

Yes, w.e.f. 18/07/97 onwards.

 

When is Death-cum-Retirement Gratuity withheld?

In case of occupation of Government Quarter or pendency of Vigilance case, etc, pension is withheld on advice of pension sanctioning authority or bill passing authority.

 

What is reduced pension?

Reduced pension is the part of pension which is payable after deducting commuted portion of the pension.

 

When can a Government servant apply for voluntary retirement?

A Government servant can apply for voluntary retirement only after completion of 20 years of his Government service. He/She should apply three months in advance.

 

To whom should I apply for revision of pension?

You have to apply for revision of pension in a prescribed format with necessary enclosures to your pension sanctioning authority.

 

When will my DCRG/part of DCRG be released?

After receipt of refund advice/ no claim certificate from pension sanctioning authority, the DCRG is released immediately.

 

Can parents get family pension?

Yes, only fully dependent parents, where the family members of deceased Government servant i.e. spouse/ son / daughter are not alive.

 

What is the meaning of the following terms?

(a) Pension Disbursing Authority  (b) Pension Sanctioning Authority  (c) PPO Issuing Authority  (a) Pension Disbursing Authority: Your Pension paying branch bank  (b) Pension Sanctioning Authority: The authority who sanctioned your pension before forwarding the case to Accounts.  (c) PPO Issuing Authority: If you retired from HQ, the PPO issuing authority is head of accounts branch of that unit.