**PENSION AND COMMUTATION CALCULATOR-PSU BANKS**
ENTER LAST 10 MONTH'S AVERAGE
If you have last 10 months average enter details below or click here to calculate with month wise data.
PENSION AND COMMUTATION CALCULATOR-PUBLIC SECTOR BANKS
BASIC PAY:
SPECIAL PAY:
STAGNATION PAY:
GRADUATION/PROF QUALIFICATION PAY:
FIXED PERSONAL PAY(PORTION ELIGIBLE FOR PF DEDUCTION ):
OTHER PAY (PORTION ELIGIBLE FOR PF DEDUCTION ):
NUMBER OF YEARS IN SERVICE (MAX 33 YRS INCLUDING WEIGHTAGE IF ANY ) :
AGE AT NEXT BIRHDAY :
COMMUTATION PERCENT (MAXIMUM 33.3333% ):


BASIC PENSION:
COMMUTATION AMOUNT:
COMMUTATION VALUE:
REDUCED BASIC PENSION:
COMMUTATION FACTOR:
Note:

As per latest wage Settlements of Banks, "pay" for superannuation benefits including for contribution to National Pension Scheme(NPS)shall mean Basic Pay,Stagnation Increments,Special Pay, Graduation Pay,Professional Qualification Pay, Officiating Pay,Increment Component of Fixed Personal Pay.

Special Allowance is not eligible for superannuation benefits like Pension,Gratuity, NPS.

Note on "Age at next Birthday: While entering data against "Age at next birthday" kindly note the following points. That pertains to the" age at your next birthday following your year of retirement "- normally we retire on superannuation at the age of 60 years. Hence in that case age at the next birthday should be "61" whatever may be the year of your retirement.. For some reason assuming one retires at say 57 years ,then the age at next birthday should be 58 years. If you retire in the year 2017 on superannuation at the age of 60 ,the age at next birthday should be 61.

Employees joining Banks on or after 01.04.2010
will be covered under New Pension Scheme.Read more

This calculator is for personal use and not for official use.
Consult your bank to know your eligibilty in detail.


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