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| Type | Rates Master Circular |
|---|---|
| Topic | ticket-checking |
| Currency | Currency not verified |
1.1.1996 family pension shall not be less than 30%
To Change the colour of the Background Click on the Button Below. Antique white Bisque silver slate green cadet blue white azure Original MASTER CIRCULAR Master Circular No. 53 Pension Scheme on Railways and Retirement Benefits on Absorption in Public Sector Undertakings/Autonomous Bodies. Pension Rules are incorporated in the Indian Railway Establishment Code Vol. II (1973 edition) and the Manual of Railway Pension Rules (1968 edition). The Manual embodies pension rules and orders as were issued from time to time in a self contained and readily understandable form. The manual however has not been updated after 1968 and during this period, large number of provisions either has become obsolete or has been substantially modified by issue of numerous orders. In view of this, a need has been felt for compiling some of the more important instructions for the guidance of the staff dealing with the pension work in the form of Master Circulars. Master Circular No. 1 enclosed with this letter brings out instructions on the following subjects. 1. Introduction of Pension Scheme on Railways and Pension options for the Railway employees who were governed by the PF Rules Part 'A' 2. General Rules on pensionary matters Part 'B' 3. Retirement benefits for the Railway employees permanently absorbed in Public Sector Undertakings. Part 'C' 4. Retirement benefits for the Railway employees absorbed in Autonomous Bodies Part 'D' 5. Guidelines for timely payment of retirement dues to the retiring employee and the families of the employee who die while in service Part 'E' 3. The instructions contained in the original circular referred to have only prospective effect from the date of issue unless indicated otherwise in the concerned circular. For dealing with old cases, the instructions in force at the relevant time should be referred to. 4. If any circular current on the subject has been lost sight of, the same should not be ignored and should be treated as valid and operative. References to the orders based on which the above chapters have been framed are indicated against each item of the chapter. CHAPTER I Part 'A' Introduction of Pension Scheme on Railways and Pension options for the employees governed by Provident Fund Scheme. 1. Pension scheme was introduced on the Railways on 16.11.1957 effective from 1.4.1957 vide Railway Boards letter No. F(E)50/RTI/6 dated 16.11.1957. All railway employees who entered service on and after 16.11.1957 are governed by the said Pension Scheme. The new Pension Scheme was practically an adoption of the provisions of the Railway Pension Rules 1950 promulgated as the Liberalised Pension Rules, 1950 vide Railway Boards letter No. E48-CPC/208 dated 8th July 1950, as amended & clarified from time to time. 2. At the time of introduction of pension scheme on the Railways, pension option was also allowed to all those non-pensionable railway servants who were in service on 01.04.1957 or had joined railway service between 01.04.1957 and 16.11.1957 in preference to the Provident Fund scheme by which they were governed. This option was open until 30.09.1959. 3. As a result of various improvements in the service conditions or implementation of the Pay Commission's recommendations etc. fresh options were again allowed to the staff to join the pension scheme as these improvements had bearing on the pensionary benefits. In all 12, such options were allowed. The details of these orders are as under: - Option No. Letter No and date. Option validity period Reasons for giving option. 1 i) F(E)50/RTI/6 dated 16.11.1957 1.4.1957 to 30.9.1959 Introduction of pension scheme on Railways ii) F(P)58 PN 1/6 dated 07.03.1958 iii) F(P)58 PN 1/6 dated 19.06.1958 iv) F(P)58 PN 1/6 dated 24.12.1958 v) F(P)58 PN 1/6 dated 28.03.1959 2. i) PC60/RB-2/2 dated 17.09.1960 1.7.1959 to 31.12.1961 Merger of DA with Pay - Revised Pay Structure (IInd Pay Commission Recommendation.) ii) -Do- dated 07.04.1961 iii) -Do- dated 02.11.1961 iv
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