Friday, November 27, 2020

126-Calculator of a commutation of a pension

Dear friends,

Now you can download FORM-1 from this site also. Go to the bottom, click on top-right-symbol which shows as "pop-out " and download the form.

Click here to watch a video on this topic. 

This post is to calculate the commutation of a pension and pension amount after commutation. So many employees have taken VRS even at the age of 50 years. So, this software will help them to set a reminder for submission of Form-1 in their admin office. Following important particulars regarding the commutation of a pension will be available in this software.

Enter only the following information:


Enter your Staff-Number (M0xxxxx) or PPO-No (PPOxxxxx)

M012345

Name

Xxxxxxxxxxx

Date of Birth

31-Aug-1961

Date of VRS/Superannuation

31-Jan-2020

Basic pay at the time of VRS/Superannuation

62820

IDA at the time of Commutation of pension (Approximately- For calculation only)

165.4

Percentage of Pension to be Commuted

40


The output will be as follows:


Please submit your FORM-1 in your Admin Office between 31-Aug-2021 and 30-Sep-2021.

Age on next birthday

59

Commuted value for 15 years

1262079

Monthly Commuted value

7012

Basic Pension

31410

Reduced monthly Pension after Commutation

18846

IDA is calculated on Full Basic Pension, (On Rs 31410, at the rate of 165.4 %)

51952

Total pension amount in the period of commutation

70798

Total receivable pension amount after Tax in the period of commutation

59972

Commutation shall stand restored either in 2036 or 2037 depending on the date of commutation started.


Step-1



Step-2: 




This output will be the same as we get the details of the commutation of our pension. This software is with more information about the commutation of pension.

Thanks for using this software.  

   


ANIL SATPUTE

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