{"id":44,"date":"2020-07-02T14:55:08","date_gmt":"2020-07-02T14:55:08","guid":{"rendered":"http:\/\/192.168.21.185\/sbfpfund\/?p=44"},"modified":"2020-10-02T06:03:08","modified_gmt":"2020-10-02T06:03:08","slug":"pension","status":"publish","type":"post","link":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/?p=44","title":{"rendered":"Pension"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Pension<\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>A monthly pension is payable to a beneficiary\n     on the death of an associate irrespective of whether the associate dies in\n     service or after leaving the service.<\/li><li>Whenever an associate dies, a\n     pension is paid to his\/her beneficiary(widow\/widower\/orphans).<\/li><li>A female orphan is paid an orphan pension up\n     to the age of 21. Once she gets married, the pension is discontinued.<\/li><li>A male orphan is paid an orphan pension up to\n     the age of 18, but may be extended up to the age of 21 provided written\n     evidence is produced that he is receiving full-time education.<\/li><li>The quantum of the monthly pension is\n     determined as follows: &#8211; <ul><li>The last salary of the associate.<\/li><li>The length of contributory month of service<\/li><li>The rate of pension to be used.<\/li><\/ul><\/li><\/ul>\n\n\n\n<p><strong>COMPUTATION OF PENSION<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>For\n     employees <strong>in post at 30 June 2008<\/strong>, the pension payable to the\n     spouse and children of a deceased associate will be strictly based on one\n     of the following formulae: &#8211;<\/li><li>1\/2 x Notional unreduced Pension (payable to spouse + at least one\norphan)<\/li><li>1\/3 x Notional unreduced Pension (payable to spouse if there is no\norphan)<\/li><li>1\/2 x Notional unreduced Pension (in respect of 2 or more children\nonly.&nbsp;(There is no spouse)<\/li><li>1\/4 x Notional unreduced Pension (if there is only one child and no\nspouse)<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>Notional\n     Unreduced Pension is arrived at as follows: &#8211; <\/li><\/ul>\n\n\n\n<p>*(Number\nof months Service&nbsp;\/600 months) x&nbsp;&nbsp;&nbsp; Last drawn Salary <\/p>\n\n\n\n<p>Subject\nto a minimum of 240 months if employee has joined service before 35 and limited\nto a maximum of 400 months.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>There\n     is also a proviso for the payment of a minimum pension which shall be\n     fixed by the Minister on the recommendation of the Board.<\/li><li>In\n     respect of employees who join the scheme <strong>after<\/strong> <strong>30 June 2008<\/strong>,\n     the notional unreduced pension shall be as follows: &#8211; <\/li><\/ul>\n\n\n\n<p>*(Number of months service&nbsp;\/690 months)\nx&nbsp;&nbsp;&nbsp;&nbsp; Last drawn Salary <br>\n* with a maximum of <strong>460 months<\/strong>.<\/p>\n\n\n\n<p><strong>CHILDREN BORN OUTSIDE WEDLOCK<\/strong><\/p>\n\n\n\n<p>The law\nhas been amended since 1998 to enable the payment of a pension not only to a\nlegitimate child but also to a child born outside wedlock and duly acknowledged\nby the associate or whose filiation has been pronounced by a Court of\nlaw.&nbsp; A legally adopted child will also qualify for such pension.<\/p>\n\n\n\n<p><strong>AGE LIMIT FOR PAYMENT OF PENSION<\/strong><\/p>\n\n\n\n<p>&nbsp;There\nis no age-limit in respect of the payment of pension to the spouse of a\ndeceased associate.&nbsp; Pension will be paid until the pensioner passes away,\nunless he\/she remarries, in which case the payment of pension is\ndiscontinued.&nbsp; It should be pointed out that the law has been amended\nsince 2001 to provide for the payment of a full month\u2019s pension to the\nrelatives of a pensioner in the month he\/she dies together with another\nfull-month gratuity.<\/p>\n\n\n\n<p><strong>PAYMENT OF BONUS<\/strong><\/p>\n\n\n\n<p>An\nadditional one-month bonus is paid every December to all pensioners.<\/p>\n\n\n\n<p><strong>MINIMUM RATES OF PENSION PAYABLE <\/strong><\/p>\n\n\n\n<p>As at 1st January 2020 are as follows: &#8211; <\/p>\n\n\n\n<p><br>\n(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Widow\/Widower pension&nbsp;+&nbsp;orphans pension &nbsp;&nbsp;&nbsp;&nbsp;-Rs5,456.63<br>\n(ii)&nbsp;&nbsp;&nbsp; Widow\/Widower\npension\nonly&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\n&nbsp;-Rs5,291.00<br>\n(iii)&nbsp;&nbsp; Orphan\u2019s Pension (More than 1 child)&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-Rs5,456.63<br>\n(iv)&nbsp;&nbsp; Orphan\u2019s Pension(One child\nonly)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -Rs5,199.56<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The\n     minimum rate of pension is adjusted in January each year whenever a\n     compensation is approved by Government.<\/li><li>The\n     following documents need to be produced (original + photocopy) when making\n     a claim for a pension: &#8211; <ul><li>Birth\n      Certificate and Identity Card of deceased associate<\/li><li>Birth\n      Certificate and Identity Card of spouse (if applicable)<\/li><li>Marriage\n      Certificate<\/li><li>Birth\n      Certificate of minor Children (if applicable)<\/li><li>Death\n      Certificate of deceased associate.<\/li><li>Affidavit<\/li><li>Evidence\n      of Divorce (if applicable)<\/li><li>Bank\n      Pass Book. <\/li><li>Letter of Retirement (if\n      applicable)<\/li><li>Certificate of cause of\n      Death.<\/li><\/ul><\/li><\/ul>\n\n\n\n<p><strong>INTERPRETATION AS PER SBFPFUND\nACT<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Normal\n     Retirement Age<br>\n     As adjusted by Pay Research Bureau Report 2008.<\/li><li>Effective\n     Date of Refund<br>\n     The date on which a refund can be claimed and paid.<\/li><li>Marriage<br>\n     Means Civil marriage which has taken place when an associate was still in\n     post i.e. in service.<\/li><li>Employee<br>\n     Include\n     both Female and Male.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>A monthly pension is payable to a beneficiary on the death of an associate irrespective of whether the associate dies in service or after leaving the service.<\/p>\n","protected":false},"author":1,"featured_media":538,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-44","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=\/wp\/v2\/posts\/44","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44"}],"version-history":[{"count":3,"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=\/wp\/v2\/posts\/44\/revisions"}],"predecessor-version":[{"id":164,"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=\/wp\/v2\/posts\/44\/revisions\/164"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=\/wp\/v2\/media\/538"}],"wp:attachment":[{"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}