359 - 12 ஆண்டுகள் முடிந்த பின்னர் Commutation Pension திரும்ப தர வேண்டும். ஊழியர் தரப்பு கோரிக்கை

Restoration of commuted portion of pension after 12 years- Staff Side letter to Ministry of Finance
• Fifth CPC recommended reduction of the period from 15 to 12 years.
• It was not accepted by the Central Govt. whereas state Govts like Kerala, MP, Odisha and Punjab caused orders for restoration after 12 years.
• Interest charged for various advances like HBA is simple interest and not compound. As such there is no justification to recover more what it was advanced to retirees.
• The principle amount is fully recovered in 8.194 years. If it is 8% simple interest the interest for the commutation amount can be recovered within 2.66 years.
• The entire amount plus interest will be recovered within 10.85 years.
• Even after full recovery, the pensioners keep on paying for another 4.15 years.
• Risk factor for 4 years is exorbitant
• The death rate of India has witnessed significant decline. It was declined from 14.9 during 1971 to 6.0 during 2020. It is till reduced to 6.4 in rural and 5.1 in urban.
• From the Statistics, about 6% of the pensioners whoa re in the age group of 60 years to 70 years only have died. The risk factor is very less now.
• The life expectancy has raised to 69.7 years as per the report of the census commissioner. The Govt servant’s life expectancy as per WHO statistics is 77 years.
• Restoration of commuted portion after 12 years is ideal
NJCM Staff Side letter No. 2023/Pension/(CP) dated 4.3.2023
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Restoration of commutation
Pension
commutation of pension