Pension Commutation for Bank Employees to be Refunded After 10 Years
Bank retirees, who have opted for pension are eligible for commutation of pension up to 1/3rd of their basic pension. A mere calculation basing on today’s interest rate, would throw light on this subject that the recovery of commuted portion would end up in 11 years. There is no legal sanctity to recover the same beyond that period.
16/07/2024
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