(1) The period of the preceding ten months for the purpose of average emoluments shall be reckoned from the date of retirement.
(2) In the case of voluntary retirement or premature retirement, the period of the preceding ten months for the purpose of average emoluments shall be reckoned from the date on which the employee voluntarily retires or is premature retired by the Bank.
(3) In the case of dismissal or removal or compulsory retirement or termination of service, the period of the proceeding the months for the purpose of average emoluments shall be reckoned from the date on which the employee is dismissed or removed or compulsorily retired or terminated by the Bank.
(4) If during the last ten months of the service, an employee had been absent from duty on extraordinary leave on loss of pay or had been under suspension and the period whereof does not count as service, the aforesaid period of extraordinary leave or suspension shall not be taken into account in the calculation of the average emoluments and equal period before the ten months shall be included.
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CHAPTER VII FAMILY PENSION
39. Family Pension.
(1) Without prejudice to the provisions contained in these regulations where an employee dies –
(a) after completion of one year of continuous service; or
(b) before completion of one year of continuous service provided the deceased employee concerned immediately prior to his appointment to the service or post was examined by a medical officer approved by the Bank and declared fit for employment in the Bank; or
(c) after retirement from service and was on the date of death in receipt of a pension, or compassionate allowance;
the family of the deceased shall be entitled to family pension, the amount of which shall be determined in accordance with Appendix III.
Provided that in respect of employees who were in the service of the Bank on or after the 1st day of January, 1986 and had died while in service on or before the 31st day of October, 1987 or had retired on or before 31st day of October, 1987 but died later, the family of the deceased shall be entitled to family pension, the amount of which shall be determined in accordance with Appendix V.”
(2) The amount of family pension shall be fixed at monthly rates and be expressed in whole rupees and where the family pension contains of a rupee, it shall be rounded off to the next higher rupee;
Provided that in no case a family pension in excess of the maximum prescribed under these regulations shall be allowed.
(3) (a) (i) Where an employee, who is not governed by the Workmen‟s Compensation Act, 1923 (8 of 1923), dies while in service after having rendered not less 32 than seven years‟ continuous service, the rate of family pension payable to the family shall be equal to fifty per cent of the pay last drawn or twice the family pension admissible under sub- regulation (1), whichever is less, and the amount so admissible shall be payable from the date following the date of death of the employee for a period of seven years or for a period up to the date on which the deceased employee would have attained the age of sixty five years had he survived, whichever is less;
(ii) in the event of death of an employee after retirement, the family pension as determined under
(a) of this sub-regulation shall be payable for a period of seven years or for a period up to the date on which the retired deceased employee would have attained the age of sixty five years had he survived, whichever is less;
Provided that in no case the amount of family pension determined under this clause shall exceed the pension authorised on retirement from the Bank. If the pension authorised to the employee on his retirement is less than the amount of family pension at the ordinary rates, then, the family shall be allowed family pension at the ordinary rates.
Explanation: For the purpose of this sub-clause, "pension authorised on retirement" includes part of the pension, which the retired employee might have commuted before death.
(b) (i) where an employee, who is governed by the Workmen‟s Compensation Act,1923 (8 of 1923), dies while in service after having rendered not less than seven years‟ continuous service, the rate of family pension payable to the family shall be equal to fifty per cent of the pay last drawn or one and half times the family pension admissible under sub- regulation (I), whichever is less;
(ii) the family pension so determined under sub-clause
(i) shall be payable for the period mentioned in clause (a).
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(c) after the expiry of the period referred to in clause
(a), the family, in receipt of family pension under that clause or clause (b) shall be entitled to family pension at the rate admissible under sub- regulation
(1).
(3) Notwithstanding anything contained in these regulation where the family of a deceased employee opts for pension in accordance with sub-regulation (5) of Regulation 3 or is governed by the provision contained in sub-regulation (6) or (7) or (8) of Regulation 3, such family of the deceased shall be eligible for family pension under these regulations.
40. Period of Payment of family pension.
(1) The period for which family pension is payable shall be, -
(a) in the case of a widow or a widower, upto the date of death or remarriage, whichever is earlier;
(b) in the case of a son or daughter (including widowed/divorced) till he/she attains the age of twentyfive years or upto the date of his/her marriage/remarriage, whichever is earlier:
Provided the family pension payable to sons/daughters (including widowed/divorced) shall be discontinued/not admissible when the eligible son/daughter starts earning a sum in excess of Rs. 2550/- per month from employment in Government/private sector/self-employment, etc.
Provided further that if the son or daughter of an employee is suffering from any disorder or disability of mind or is physically crippled or disabled so as to render him or her unable to earn a living even after attaining the age of twenty-five years, the family pension shall be payable to such son or daughter for life subject to the following conditions, namely,
(i) If such son or daughter is one among two or more children of the employee, the family pension 34 shall be initially payable to the minor children in the order set out in clause (e) of sub-regulation (1 ) until the last minor child attains the age of twenty-five years and thereafter the family pension shall be resumed in favour of the son or daughter suffering from disorder or disability of mind or who is physically crippled or disabled and shall be payable to him or her for life;
(ii) If there are more than one such children suffering from disorder or disability of mind or who are physically crippled or disabled, the family pension shall be paid in the order of their birth and the younger of them will get the family pension only after the elder next above him or her ceases to be eligible;
Provided that where the family pension is payable to such twin children it shall be paid in the manner set out in clause (f) of sub-regulation (1);
(iii) the family pension shall be paid to such son or daughter, through the guardian as if he or she were a minor except in the case of a physically crippled son or daughter who has attained the age of majority;
(iv) before allowing the family pension for life to any such son or daughter, the Competent Authority shall satisfy that the handicap is of such a nature as to prevent him or her from earning his or her livelihood and the same shall be evidenced by a certificate obtained from a medical officer approved by the Bank, setting out, as far as possible, the exact mental or physical condition of the child;
(v) The person receiving the family pension as guardian of such son or daughter or such son or daughter not receiving the family pension through a guardian shall produce every three years a certificate from a medical officer approved by the Bank to the effect that he or she continues to 35 suffer from disorder or disability of mind or continues to be physically crippled or disabled.
Explanation: The grant of family pension to disabled children beyond the age limit specified in this regulation is subject to the following conditions, namely,
(i) a daughter shall become ineligible for family pension under this sub-regulation from the date she gets married;
(ii) the family pension payable to such son or daughter shall be stopped if he or she starts earning his or her livelihood. In such cases, it shall be the duty of the guardian or son or daughter to furnish a certificate to the Bank every month that - (A) he or she has not started earning his or her livelihood;
(B) in case of daughter that she has not yet married;
(c) In the case of parents the family pension payable shall be discontinued/ not admissible if the income of one of the parents or the aggregate income of both the parents from employment in government / private sector/selfemployment etc. exceeds Rs.2,550/- per month.
(d) if a deceased employee or pensioner leaves behind a widow or widower, the family pension shall become payable to the widow or widower, failing which to the eligible child;
(e) family pension to the children shall be payable in the order of their birth and the younger of them shall not be eligible for family pension unless the elder next above him or her has become ineligible for the grant of family pension :
Provided that where the family pension is payable to twin children it shall be paid in the manner set out in clause (f) of the sub- regulation (1).
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(f) where the family pension is payable to twin children it shall be paid to such children in equal shares :
Provided that where one such child ceases to be eligible, his or her share shall revert to the other child and where both of them cease to be eligible, the family pension shall be payable to the next eligible single child or twin children, as the case may be.
(2) Where a deceased employee or a pensioner leaves behind more children than one, the eldest eligible child shall be entitled to the family pension for the period mentioned in clauses (b) or (c) of sub- regulation (1), as the case may be, and after the expiry of that period the next child shall become eligible for the grant of family pension.
(3) Where family pension is granted under this regulation to a minor, it shall be payable to the guardian on behalf of the minor.
(4) In case both wife and husband are employees of the Bank and are governed by the provisions of this regulation and one of them dies while in service or after retirement, the family pension in respect of the deceased shall be payable to the surviving husband or wife and in the event of death of the husband or wife, the surviving child or children shall be granted the two family pensions in respect of the deceased parents subject to the limits specified below, namely,
(a) if the surviving child or children is or are eligible to draw two family pensions at the rates mentioned in subclause (i) of clause (a) and sub-clause (i) of clause (b) of sub-regulation (3) of regulation 39, the amount of both pensions shall be limited to -
(i) two thousand five hundred rupees only per mensem in respect of employees who retired or died while in service prior to the 1st day of November, 1992 (in the case of workmen) or prior to 1st day of July 1993 (in the case of officers);
(ii) four thousand eight hundred rupees per mensem only in respect of employees who retired or died on or after the 1sl day of November 1992 37 (in the case of workmen) or on or after 1st day of July, 1993 (in the case of officers); and
(iii) six thousand seven hundred and fifty six rupees per mensem only in respect of employees, both officers and workmen, who retired or died on or after 1st day of April, 1998.
Provided that on and from the 1st day of May 2005 the provisions of this sub-clause shall have effect as if for the words “six thousand seven hundred and fifty six”, the words “seven thousand and forty”, had been substituted.
(iv) nine thousand five hundred and sixty five rupees per mensem only in respect of employees, both officers and workmen, who retired or died on or after 1st day of May 2005.
(v) Eleven thousand eight hundred and fifty six rupees per mensem only in respect of employees, both officers and workmen, who retired or died on or after 1st day of November 2007.
(b) if one of the family pensions ceases to be payable at the rates mentioned in sub clause (i) of clause (a) or subclause (i) of clause (b) of sub-regulation (3) of Regulation 39 and in lieu thereof the family pension at the rate mentioned in sub-regulation (1) of Regulation 39 becomes payable, the amount of both the pension shall also be limited to-
(i) Two thousand five hundred rupees only per mensem in respect of employees who retired or died while in service prior to the 1st day of November, 1992(in the case of workmen) or prior to 1st day of July, 1993(in the case of officers);
(ii) four thousand eight hundred rupees per mensem only in respect of employees who retired or died on or after the 1st day of November, 1992(in the case 38 of workmen) or on or after 1st day of July, 1993(in the case of officers); and
(iii) six thousand seven hundred and fifty six rupees per mensem only in respect of employees, both officers and workmen, who retired or died on or after 1st day of April, 1998.
Provided that on and from the 1st day of May 2005 the provisions of this sub-clause shall have effect as if for the words “six thousand seven hundred and fifty six”, the words “seven thousand and forty”, had been substituted.
(iv) nine thousand five hundred and sixty five rupees per mensem only in respect of employees, both officers and workmen, who retired or died on or after 1st day of May 2005.
(v) Eleven thousand eight hundred and fifty six rupees per mensem only in respect of employees, both officers and workmen, who retired or died on or after 1st day of November 2007.
(c) if both the family pensions are payable at the rate mentioned in sub-regulation (1) of Regulation 39 amount of the two pensions shall be limited to-
(i) one thousand two hundred and fifty rupees per mensem in the case of employees who retired or died while in service prior to the 1st day of November, 1992 (in the case of workmen) or 1st day of July, 1993(in the case of officers);
(ii) two thousand four hundred rupees per mensem in respect of employees who retired or died on or after the 1st day of November, 1992(in the case of workmen) or 1st day of July, 1993(in the case of officers); and
(iii) three thousand three hundred and seventy eight in respect of employees (both officers and workmen) who retired or died on or after 1st Day of April,
1998.
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Provided that on and from the 1st day of May 2005 the provisions of this sub-clause shall have effect as if for the words “three thousand three hundred and seventy eight,” the words “three thousand five hundred and twenty,” had been substituted.
(iv) four thousand seven hundred and eighty three rupees per mensem only in respect of employees, both officers and workmen, who retired or died on or after 1st day of May 2005.
(v) five thousand nine hundred and twenty eight rupees per mensem only in respect of employees, both officers and workmen, who retired or died on or after 1st day of November 2007.
(5) (a) where family pension is payable to more widows than one, the family pension shall be paid to the widows in equal shares;
(b) on the death of widow, her share of the family pension shall become payable to her eligible child;
Provided that if the widow is not survived by any child, her share of the family pension shall not lapse but shall be payable to the other widows in equal shares, or if there is only one such other widow, in full, to her
(c) where the deceased employee or pensioner is survived by a widow but has left behind eligible child or children from another wife who is not alive, the eligible child or children shall be entitled to the share of family pension which the mother would have received if she had been alive at the time of the death of the employee or pensioner:
Provided that on the share or shares of family pension payable to such a child or children or to a widow or widows ceasing to be payable, such share or shares shall not lapse, but shall be payable to the other widow or widows and/or to the other child or children otherwise eligible, in equal shares, or if there is only one widow or child, in full, to such widow or child;
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(ca) where the deceased employee or pensioner is survived by a widow but has left behind eligible child or children from a divorced wife or wives, such eligible child or children shall be entitled to the share of family pension which the mother would have received at the time of death of the employee or pensioner had she not been so divorced:
Provided that on the share or shares of family pension payable to such a child or children or to a widow ceasing to be payable, such share or shares, shall not lapse, but shall be payable to the other widow or widows and/or to the other child or children otherwise eligible, in equal shares, or if there is only one widow or child, in full, to such widow or child.
(d) where the family pension is payable to twin children, it shall be paid to such children in the manner specified in clause (f) of sub-regulation (1) above;
(e) except as provided in this sub-regulation the family pension shall not be payable to more than one member of the family at the same time.
(6) Where a female employee or male employee dies leaving behind a judicially separated husband or widow and no child r children, the family pension in respect of the deceased shall be payable to the person surviving:
Provided that where in a case the judicial separation is granted on the ground adultery and the death of the employee takes place during the period of such judicial separation, the family pension shall not be payable to the person surviving if such person surviving was held guilty of committing adultery.
(7) (a) where a female employee or male employee dies leaving behind a judicially separated husband or widow with a child or children, the family pension payable i respect of the deceased shall be payable to the surviving person provided he or she is the guardian of such child or children;
(b) Where the surviving person has ceased to be the guardian of such child or children, such family pension shall be 41 payable to the person who is the actual guardian of such child or children.
(8) If the son or unmarried daughter eligible for the grant of family pension has attained the age of eighteen years, the family pension may be paid to such son or unmarried daughter directly.
(9) (a) If a person who, in the event of death of an employee while in service, is eligible to receive family pension under these regulations, is charged with the offence of murdering the employee or for abetting in the commission of such an offence, the claim of such a person, including other eligible member or members of the family to receive the family pension, shall remain suspended till the conclusion of the criminal proceeding instituted against him;
(b) If on the conclusion of the criminal proceedings referred to in clause (a), the person concerned
(i) is convicted for the murder or abetting in the murder of the employee, such a person shall be debarred from receiving the family pension which shall be payable to the other eligible member of the family, from the date of death of the employee;
(ii) is acquitted of the charge of murder or abetting in the murder of the employee, the family pension shall be payable to such a person from the date of death of the bank employee;
(c) The provisions of sub-clause a) and (b) shall also apply for the family pension becoming payable on the death of an employee after his retirement.
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CHAPTER VIII COMMUTATION
41. Commutation.
(1) An employee shall be entitled to commute for a lump sum payment of a fraction not exceeding one-third of his pension:
Provided that in respect of an employee who is governed by subregulation (5)of Regulation 3 of these regulations, the family of such employee shall also be entitled to commute for a lump sum payment a fraction not exceeding one-third of the pension admissible to the employee.
(2) An employee shall indicate the fraction of pension, which he desires to commute, and may either indicate the maximum limit of one-third pension or such lower limit, as he may desire to commute.
(3) if fraction of pension to be commuted results in fraction of rupee, such fraction of a rupee shall be ignored for the purpose of commutation.
(4) The lump sum payable to an applicant shall be calculated in accordance with the Table given below.
43 TABLE Commutation values for a pension of Re. one per annum Age Next birthday Commutation value expressed as the number of year’s purchase Age next birthday Commutation value expressed as the number of year’s purchase 17 19.26 31 17.62 18 19.20 32 17.46 19 19.11 33 17.29 20 19.01 34 17.11 21 18.91 35 16.92 22 18.81 36 16.72 23 18.70 37 16.52 24 18.59 38 16.31 25 18.47 39 16.09 26 18.34 40 15.87 27 18.21 41 15.64 28 18.07 42 15.40 29 17.93 43 15.15 30 17.78 44 14.90 45 14.64 66 8.17 46 14.37 67 7.85 47 14.10 68 7.53 48 13.82 69 7.22 49 13.54 70 6.91 50 13.25 71 6.60 51 12.95 72 6.30 52 12.66 73 6.01 53 12.35 74 5.72 54 12.05 75 5.44 55 11.73 76 5.17 56 11.42 77 4.90 57 11.10 78 4.65 58 10.78 79 4.40 59 10.46 80 4.17 60 10.13 81 3.94 61 9.81 82 3.72 62 9.48 83 3.52 63 9.15 84 3.32 64 8.82 85 3.13 65 8.50 44 Note:
The table above indicates the commuted value of pension expressed as number of years‟ purchase with reference to the age of the pensioner as on his next birthday. The commuted value in the case of an employee retiring at the age of f ifty eight years is 10.46 years' purchase and. therefore, if he commutes rupees one hundred from his pension within one year of retirement, the lump sum amount payable to him works out to Rs100 x 10.46 x 12 = Rs12,552.
(5) An employee who had commuted the admissible portion of pension is entitled to have the commuted portion of the pension restored after the expiry of a period of fifteen years from the date of commutation.
(6) An application who is authorised a superannuation pension or voluntary retirement pension or premature retirement pension or compulsory retirement pension or invalid pension or compassionate allowance shall be eligible to commute a fraction of his pension under these regulations;
Provided that on and from 1.7.2003, in case of an applicant in whose case, the ommuted value of pension becomes payable on the day following the date of his retirement or from the date from which the commutation becomes absolute, the reduction in the amount of pension on account of commutation shall become operative from its inception. where, however, payment of commuted value of pension could not be made within the first month after the date of retirement or within the first month after the date which the commutation becomes absolute as the case may be, the difference between the monthly pension and the commuted pension shall be paid for the period between the date following the date of retirement or the date when the commutation becomes absolute, as the case may be, and the date preceding the date on which commuted value of pension is deemed to have been paid.
(7) In the case of a pensioner eligible for superannuation pension or pension on voluntary retirement or premature retirement pension, no medical examination shall be necessary, if the application for commutation is made within one year from the date of retirement. However, if such a pensioner applies for commutation of pension after one year from the date of 45 his retirement, the same will be permitted subject to medical examination:
Provided that in the case of an applicant who is in receipt of a provisional pension as in Regulation 46 and for whom pension in whole or in part on the finalisation of the departmental or judicial proceedings has been authorised, the period of one year referred to in this sub-regulation shall reckon from the date of issue of the orders consequent upon the finalisation of the departmental or judicial proceedings.
(8) An applicant who -
(i) retires on invalid pension under regulation 30 of these regulations; or
(ii) is in receipt of compassionate allowance under regulation 31 of these regulations; or
(iii) is compulsorily retired by the bank and is eligible for compulsory retirement pension under regulation 33, shall be eligible to commute a fraction of his pension subject to the limit specified in sub-regulation ( 1 ) after he has been declared fit by a medical officer approved by the Bank.
(9) The commutation of pension shall become absolute in the case of an employee :
(a) retiring on superannuation or voluntary retirement who submits an application for commutation of pension before the date of retirement, on the date following the date of retirement:
Provided that the employee governed by sub-regulation
(3) of regulation 29 shall not apply for commutation of a part of his pension before the expiry of the notice of three months and the commutation of pension shall become absolute only on the expiry of the period of notice referred to in sub-regulation (1) of regulation 29;
(b) retiring on superannuation or on voluntary retirement or on premature retirement, if he applies for commutation of pension after the date of retirement but before the completion of one year from the date of retirement, on the date the application for commutation is received by the Competent Authority;
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(c) retiring on superannuation or on voluntary retirement or on premature retirement, if he applies for commutation of pension after one year from the date of retirement, on the date of medical certificate given by a medical officer approved by the Bank;
(d) who has retired prior to the 1st day of-November 1993 and who opts to be governed by these regulations, on the 1st day of November 1993, where the application for commutation is made within the period specified by clause (b) of sub-regulation (1) of regulation 3;
(e) who was in the service of the Bank on or after the 1st day of November, 1993 but who retired prior to the publication of these regulations on the day immediately following the date of his retirement, where the application is made within the period specified by clause (b) of subregulation (2) of regulation 3;
(f) who retired on or after the 1sl day of November, 1993 but died prior to the notified date, on the day immediately following the date of his retirement, where the application for commutation is made by the family of the deceased within the period specified by clause (a) of sub-regulation (5) of regulation 3;
(g) in respect of whom invalid pension under regulation 30 or compassionate allowance under regulation 31 or compulsory retirement pension under regulation 33 is admissible, commutation shall become absolute on the date of the medical certificate given by a medical officer approved by the Bank.
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CHAPTER IX GENERAL CONDITIONS