Investor Presentaiton
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Pension System
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Range of Pension Amount: Minimum ½ of monthly salary and maximum
100% of basic pay scale. (Pension amount will not be less than half of the
basic salary and not exceed basic salary of corresponding position.)
Monthly pension on retirement, dependent pension (1/2 of monthly pension
to widow and widower) educational benefits to minor children up to 18 years
of age.
Two third amount of salary increment of corresponding position will be
increased in pension.
Additional 10% of the monthly pension amount is also provided as medical
allowance to the pension holders over the age of 75 and another 10 percent
over the age of 85.
Spouses of pensioner entitled to get full pension up to seven years from
retirement, then 50% during lifetime.
Income Tax: pension income gets additional 25% exemption on taxable
amount.
A pay as you go (PAYGO) or 'Defined Benefit' Pension.
Administration: Pension Management Office (PMO), under the Ministry of
Finance administer the government employee pension.
Social Pension distribution by the Local Body through the Banks.
Some public entity also provide the pension for their employee is managed
by themselves (EPF, NEA, NT etc)
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