New NABARD Grade A : How to prepare ESI for Prelims & Mains- Sources & Strategy
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Question

With reference to ‘Old Pension Scheme’, consider the following statements:

I. Employees get a pension under a pre-determined formula which is equivalent to 50% of the last drawn salary.

II. They also get the benefit of the revision of Dearness Relief (DR), twice a year.

III. The payout is fixed and there was no deduction from the salary.

Which of the following is/are correct?

A I only Correct Answer Incorrect Answer
B II only Correct Answer Incorrect Answer
C III only Correct Answer Incorrect Answer
D I and II Correct Answer Incorrect Answer
E I, II and III Correct Answer Incorrect Answer

Solution

Statement I is correct -:  Employees get a pension under a pre-determined formula which is equivalent to 50% of the last drawn salary. Statement II is correct -:  hey also get the benefit of the revision of Dearness Relief (DR), twice a year. Statement III is correct -:  The payout is fixed and there was no deduction from the salary.

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