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