 ISSUED VIDE O.M DATED – SUPERANNUATION BENEFITS 30% OF BASIC.  SUPERANNUATION BENEFITS TO INCLUDE P.F, GRATUITY, PRMS AND PENSION.  MODIFICATION ISSUED VIDE O.M DATED – SUPERANNUATION BENFITS 30% OF BASIC + DA.

 DATE OF NOTIFICATION  EFFECTIVE FROM  ELIGIBILITY  All employees between age 18yrs. & 45 yrs.  Age limit of 45 yrs. not required for o Employees joining REC before o Employees from other CPSEs provided service in previous company + future service in REC till date of superannuation is not less than 15yrs.

 of Basic + DA ( from ) BASIS - Balance after accounting for 12% ; 4.8% and %.  5% OF Basic +DA ( from ) BASIS - Wage negotiation with REC Employees Union and discussions with Officers Association.  Provision for voluntary monthly contribution by employees.

 On Normal Retirement :  Pension payable only if total service is 15 yrs. (Past service in CPSE/s + Service in REC).  15yrs. Service not required in following cases:  Death;  Voluntary retirement under provisions of such schemes;  Premature retirement on Medical grounds on account of permanent total disablement /being incapacitated for service.  Pension payable out of total contributions in employees account i.e. Employer + Employee (including voluntary) + contributions transferred from previous CPSE.

 ON RESIGNATION BEFORE RETIREMENT  On joining CPSE, total accumulations transferred.  On joining non CPSE, only employee contribution with interest payable.  ON CESSATION OF SERVICE BY WAY OF DISCIPLINARY PROCEEDING:  only employee contributions with interest payable.  COMMUTATION OF PENSION  1/3RD allowed.

THANK YOU.