How to calculate benefit as per Unified pension Scheme (UPS)
To fill the input values, you will require the following data. Source is hyperlinked.
Average Basic pay at the time of retirement
Dearness Relief (DR) (%) at the time of retirement
Length of Service (in years): Age at the time of retirement - Age at the time of joining
Individual corpus = Already accumulated corpus at retirement (Calculator 1) + Corpus to be accumulated from now onward up to retirement(Calculator 2)
Benchmark Corpus (BC) (₹): As of now assume it is equal to Individual corpus
Withdrawal at Superannuation (%): Max. 60% of Individual corpus can be withdrawn.
Individual corpus means: Employee's (10% of Basic + DA) + Employer's combined contribution (10% of Basic + DA)
Individual Corpus (IC), Benchmark Corpus (BC) and Pooled Corpus (PC) are explained here as per Gazette notification.
Now please calculate your
Retirement corpus (Lump Sum Amount, Service Benefit),
Pension (Admissible Monthly Assured Payout) and
Withdrawal corpus (Withdrawal at Superannuation)
as per the following calculator.
0 Comments