Pension Calculators


Click on the following links  to open calculators

Pension Calculator

D. A. Calculator


About Pension Calculator
 "Pay" for the purpose of Provident Fund and Pension shall mean Basic Pay  including Stagnation  Increment,  Professional Qualification Pay, Increment  component  of  Fixed  Personal  Pay  and  Officiating Allowance  Hence the above allowances qualify for pension . Enter last 10 months average of total of these allowances in the pension calculator. 

Qualifying service - According to pension rules qualifying service of an employee shall commence from the date he is appointed in any cadre of the bank , on permanent  basis. Period of probation shall be treated as qualifying service. If the Broken period  of the service is the service of is less than 12 months , the broken period six months and less than six months shall be ignored and six months  and one day shall 
be reckoned as one year. 
   For  VRS optees qualifying service will be increased by 5 years subject to maximum   of 33 years . In the above calculator  enter actual service and not increased service.     Calculator  takes care of additional five years service if the type of retirement is  selected as  "VRS". 

 About Commutation Calculator

Calculator will calculate commutation amount and commutation value if basic pension and age on next birthday after retirement is entered. The commutation amount ratio is set to 1/3 of the basic (maximum permissible) . The calculator also gives the commutation factor taken into account for the calculation commutation value. The commutation factor varies according to the age on retirement.   

Commutation will  be  payable  from  the  date  of  application  for  commutation and  the  age  for  this    purpose  will  be  the  present  age  as  on  the  date 
of commutation. 


 About D.A. calculator

 D A is calculated on original basic and  NOT on basic reduced after commutation.There are different D.A rates depending upon date of retirement. Select D.A. appropritate option of D.A calculator depending upon date of retirement and enter Original Pension basic (i.e. without reducing commutation amount).The calculator also calculates D.A for retirees under 9th Bipartite Settlement i.e the date of retirement is after 01/11/2007 ( effective date of 9th BPS)

Net monthly pension = Pension Basic - Commuted Amt. 
                                    + D. A on Original Pension Basic

For calculation methods of pension please go the link Pension FAQs shown on the home page of this site.