Dear Mr Raithatha,
While giving sample calculations the Public sector Banks should also be asked to give calculations in respect of employees retired after 1/11/2012, but who unfortunately have died within a short period after retirement (at age 60).In such cases monthly recoveries for commuted pension will cease on death and also the family pensioner will get twice the normal family pension or 50% of the last pay drawn whichever is less upto the period when the retiree would have completed age 65 if the retiree had survived.In such situations, but for the irreparable loss caused by the death of the retiree to the family, the financial loss is less although family pension is too meagre at present and needs upward revision.
Kind regards.
C H Mahadevan
While giving sample calculations the Public sector Banks should also be asked to give calculations in respect of employees retired after 1/11/2012, but who unfortunately have died within a short period after retirement (at age 60).In such cases monthly recoveries for commuted pension will cease on death and also the family pensioner will get twice the normal family pension or 50% of the last pay drawn whichever is less upto the period when the retiree would have completed age 65 if the retiree had survived.In such situations, but for the irreparable loss caused by the death of the retiree to the family, the financial loss is less although family pension is too meagre at present and needs upward revision.
Kind regards.
C H Mahadevan
