Lifetime Monthly Pension

An agreed lifetime monthly pension is paid to members over 60 years of age upon reaching maturity. Members who pay all premiums properly receive 100% pension.

Note: If the net account balance is between 75%-100% of the pension amount, a correspondingly adjusted pension is provided. Refunds or adjustments are applied according to the scheme rules at the time of maturity (see Contribution Refund Policy).

Spouse Pension

Upon the demise of a contributory member before age 80, the surviving spouse (if alive) is entitled to pension coverage up to the age of 80 of the deceased member or until the spouse's demise, whichever occurs first.

Partial Disability Benefit

• Loss of sight in one eye
• Loss or permanent disability of one hand
• Loss or permanent disability of one leg

Benefit: Lump sum gratuity of Rs. 6,000/- to Rs. 25,000/-. Important: a lifetime pension at pensionable age is payable only if the member continues to pay the relevant premiums after becoming partially disabled. If the member leaves the scheme after receiving the gratuity, the member will receive the gratuity plus the net amount of contributions in the account (per scheme table).

Permanent Incapacity Benefit

• Loss of both hands or legs
• Loss of sight in both eyes
• Complete paralysis below neck

Benefit: The member may choose either a lump sum gratuity of Rs. 12,000/- to Rs. 50,000/- or a monthly lifetime pension beginning from the date the member became permanently incapacitated. If the member leaves the scheme after receiving the gratuity, the gratuity plus the net amount of contributions in the account will be paid (per scheme table).

Death Gratuity

In case of member's death, dependents and heirs receive:

• Lump sum gratuity of Rs. 25,000/-
• Net amount of contributions in the account (paid to heirs/dependents as per scheme rules)

Contribution Refund Policy

• At maturity: If 25%-75% of total premiums due have been paid, the amount paid plus related interest (net contribution) will be refunded.
• At maturity: If 75%-100% of total premiums have been paid, an adjusted pension will be provided according to the net account balance.
• At maturity: If less than 25% of total premiums have been paid, the amount may be retained by the Board.
• Early Exit (before maturity): A member may withdraw and obtain a refund of the net contribution only in specific cases — for example, when transferring to a government pensionable job or when going abroad for full-time employment. Interest on the net contribution may apply as per scheme rules.