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    Question

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

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