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In Pakistan we calculate pension by the following formula:
length of regular service x basic pay x 7
_______________________________
300
if someone's length of service is 26 years his basic pay is Rs. 30,000
then his monthly pension will be
26 x 30,000 x 7
_____________ = 18,200 rupees per month
300
What else can I help you with?
What is commutation and pension formula in Pakistan?
In Pakistan, commutation refers to the conversion of a portion of a pension into a lump sum payment, allowing retirees to receive an immediate cash benefit while reducing their monthly pension. The pension formula typically involves calculating the monthly pension based on the length of service and the final basic pay, often following a specific percentage of the last drawn salary multiplied by years of service. The commutation factor is applied to determine the lump sum amount, which is then deducted from the total pension, impacting the monthly payments thereafter.
How pension is calculated in Pakistan?
Pension calculation formulas are different in different provinces and services .
What is the Formula for calculating pension equivalent of gratuity?
pension equivalent gratuity
With a British passport how long are you allowed to stay in Pakistan before your pension is cut?
about 24 months
Why You choose National Bank of Pakistan?
National Bank of Pakistan is a government sector bank. Normally National Bank of Pakistan is utilized by the Government of Pakistan to transact salaries of Government employees. National Bank of Pakistan is also used by the government to transact pension amount to the retired personnel.
If i racive danish old age pension in pakistan and i dont have any dacoments of denmark i just remember my danish person id number you tell me i am danish cityzen?
Yes, if you have a Danish Identification number, then you are still a Danish citizen.
Do former senators of the US get a pension?
Yes, former US senators are eligible for a pension if they have served for at least five years. The amount of the pension is determined by a formula based on years of service and salary while in office.
Can you explain how a final salary pension works?
A final salary pension, also known as a defined benefit pension, is a retirement plan where your pension income is based on your final salary and the number of years you worked for your employer. The pension amount is calculated using a formula that takes into account your salary and years of service. This type of pension provides a guaranteed income in retirement, usually paid monthly for the rest of your life.
What is the pension for a congressman?
Well Wikipedia says: The pension amount is determined by a formula that takes into account the years served and the average pay for the top three years in terms of payment. In 2002, the average pension payment ranged from $41,000 to $55,000.
Do teachers get life insurance?
In Pakistan yes. The teachers who fall in permanent job category get their pension. But teachers with a contract type of job or in a private school of college have not any pension facility.
What is the average pension lump sum amount?
The average pension lump sum amount varies depending on factors such as the individual's salary, years of service, and pension plan rules. Typically, lump sums are calculated based on a percentage of the pension or a specific formula set by the plan. It's best to consult with your pension plan administrator for specific details.
You retired as under secretary to the governmen of India on 30th April 1994 your old pension is rs5961 plus d p rs2980 rs8941 pension then commuted was rs737 what will be the formula to calcu?
Old Pension Rs.5961 D P 2980 = Rs.8941. Advise new pension + D A. Old Pension Rs.5961 D P 2980 = Rs.8941. Advise new pension + D A.
