DIRECTORATE OF ACCOUNTS(PENSION) by V34M02

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									           DIRECTORATE OF ACCOUNTS(PENSION)
         KHADI & VILLAGE INDUSTRIES COMMISSION
       3, IRLA ROAD, VILE PARLE (WEST), MUMBAI -56

No.A/cs.Pen/6th Pay Comm./09-10            Dated : 15-04-2009

To:
The Chief Manager,
State Bank Of India,
Vile Parle (West) Branch,
Mumbai -400 056.

             Sub :Revision of Pension of pre-2006 Pensioners/
                   Family Pensioners arising out of acceptance
                    of the recommendation of the 6th CPC
                     w.e.from 1-4-2009.
              ----------------------------------------------------
Madam,

      In pursuance of Standing Order No.1680 dated : 25-03-
2009 of Khadi & Village Industries Commission, undersigned is
directed to request you to make the payment of monthly
pension/family Pension to all the pre-2006 Pensioners/Family
Pensioners drawing pension under the provision of the KVIC
Employees (Pension) Regulations 1984 with effect from 1-4-
2009 in the manner indicated below:-

2. The Pension/Family Pension of existing pre-2006
Pensioners/Family Pensioners will be consolidated with
effect from 1-1-2006 by adding together:-
     (i)        The existing pension/family pension.
     (ii)        Dearness Pension, where applicable.
     (iii)       Dearness Relief up to AICPI(IW) Average Index
                 536 (Base year 1982-100) i.e. @24% of Basic
                 Pension/Basic family pension plus dearness
                 pension as admissible vide O.M.No.42/2/2006-
                 P&PW(G),dated 5-4-2006.
     (iv)        Fitment weightage @40% of the existing
                 pension/family pension.
                 Where the existing pension in (i) above includes
                 the effect of merger of 50% of dearness relief
                 w.e.f.1-4-2004, the existing pension for the
                 purpose of fitment weightage will be re-
                 calculated after excluding the merged dearness
                 relief of 50% from the pension.
                                                       ….2/-
                                 :2:

              The amount so arrived at will be regarded as
              consolidated pension/family pension with effect
              from 1-1-2006.
     3. To arrive at the revised consolidated pension/family
pension    the    table   enclosed    as     addendum     of
                                          st
O.M.F.No.38/37/08-P&PW(A), dated the 1 September,2008
may be used as ready reckoner .
      4. Since the consolidated pension will be inclusive of
commuted portion of pension, if any, the commuted portion
will be deducted from the said amount while making monthly
disbursements. Wherever restoration orders have been issued
by KVIC to the pensioners, they may be sanctioned full
pension. In case of any doubt commuted portion of pension
may be deducted.
      5. The quantum of pension/family pension available to
the old pensioners/family pensioners shall be increased as
follows:-

Age    of    pensioner/family    Additional quantum of pension
pensioner
From 80 years to less than 85    20%     of    revised     basic
years                            pension/family pension
From 85 years to less than 90    30%     of    revised     basic
years                            pension/family pension
From 90 years to less than 95    40%     of    revised     basic
years                            pension/family pension
From 95 years to less than       50%     of    revised     basic
100 years                        pension/family pension
100 years or more                100%     of    revised    basic
                                 pension/family pension

      6.Additional pension may be shown separately and
Dearness Relief is payable after adding the additional pension
to the basic pension.

     7. Suitable guidelines on the methodology to be adopted
for payment of additional pension to old pensioners in cases
where the date of birth is not available in the PPO as well as in
the Office record will be issued separately.

                                                        …3/-
                            :3:



     8. Where the consolidated pension/family pension in
terms of Paragraph 1 above works out to an amount less than
Rs.3,500/- the same shall be stepped up to Rs.3,500/-.

      9. The consolidated pension/family pension as worked
out in accordance with provisions of Para-1 above shall be
treated as final “Basic Pension” with effect from 1-1-2006 and
shall qualify for grant of dearness Relief sanctioned thereafter.

     10. Separate orders/revised PPO will be issued in
respect of the employees who retired/died on or after
1-1-2006 for payment of revised pension/family
pension, till such time pension to such pensioners may
be paid at the existing rate.

     11. The revised PPO to the pensioner/family pensioner is
under process of issue to regularize the payment of revised
pensioner/family pension. In case of any excess payment, the
same will be recovered from the future payment. Therefore, it
is  requested     to   take   an     undertaking  from   the
Pensioners/family pensioners to this effect.

      12. The pensioners not covered by normal Pension Rule
ie. invalid pensioners/re-employed pensioners etc., the revised
pension will be paid only on the basis of the revised PPO
issued to them.

     13. As per para-8 of Standing Order No.1680, a
separate instruction in respect of the arrears for the
period January, 2006 to March, 2009 will be issued in
due course.

      14. It is considered desirable that the benefit of the
revised pension/family pension should reach to the pensioners
expeditiously. All the Branches of State Bank of India and its



                                                        ..4/-
                                 :4:


Associate Banks involved in the disbursement of pension
under Provision of KVIC Employees (Pension) Regulation 1984
may be authorized to implement the decision of the
Commission without further authorization from Central Office,
Khadi & Village Industries Commission, Mumbai.

     A copy of the Standing Order No.1680 of KVIC is
enclosed herewith.

Encl : As above




                                             Yours faithfully,

                                                (R.K.Saha)
                                            Director (Accounts)
Copy to :
  1. CEO Cell
  2. F.A Cell
  3. Secretary to Chairperson
  4. Dy.CEO,All Zonal Offices
  5. State Directors, All State/Division Offices
  6. Secretary, Pensioners Welfare Association
  7. Director (IT) for display in the web site of KVIC
  8. Director (Publicity) for publication in Jagriti in the ensuing
     issue.
  9. All the Associated Bank of State Bank of India

								
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