DISAPPOINTING PENSION SETTLEMENT FOR FAMILY PENSIONERS!

Here is a live case, (which I have guided for quite some time)

which shows how the spouse of  Expired  employees are cheated.

Average Basic Pay:                                 Rs. 6252 (in 2002 when employee died))

Amount payable at 156%  :                      Rs.249212

Family Pension Payable per month:          Rs. 2958

Pension arrears payable upto Sep 2010:   Rs.31682

Now the spouse has shell out Rs.217530 (249212-31682) and get pension of Rs.2958 per month.

When the spouse will get back her principal?

At 9% it will take 107 months or 8 years 11 months i.e almost 9 years.

If she has to arrange this 156%  amount by raising loan from outside it will take some more years.

Then only she will get real pension.

She is denied of enhanced family pension on the ground that it is already 7 years are over, since the employee died.

On calculating all these statistics the spouse decided not to opt for pension,

and decided to spend the money for her” Daughters MARRIAGE “

which she is expected to happen shortly.

Can anyone justify this  position?

I leave it to the readers to decide.

P. KUMAR ,SALEM.