2.  ISSUED VIDE O.M DATED 26.11.2008 – SUPERANNUATION BENEFITS PAYABLE @ 30% OF BASIC.  SUPERANNUATION BENEFITS TO INCLUDE P.F, GRATUITY, PRMS AND PENSION.  MODIFICATION ISSUED VIDE O.M DATED 02.04.09 – SUPERANNUATION BENFITS PAYABLE @ 30% OF BASIC + DA.

3.  DATE OF NOTIFICATION-28.03.2012  EFFECTIVE FROM -01.01.2007  ELIGIBILITY  All employees between age 18yrs. & 45 yrs.  Age limit of 45 yrs. not required for o Employees joining REC before 26.11.2008. o Employees from other CPSEs provided service in previous company + future service in REC till date of superannuation is not less than 15yrs.

4.  EMPLOYER @9% of Basic + DA ( from 01.01.07) BASIS - Balance after accounting for PF@ 12% ; Gratuity @ 4.8% and PRMS @ 3.13 - 4.13 %.  EMPLOYEE @ 5% OF Basic +DA ( from 28.03.12) BASIS - Wage negotiation with REC Employees Union and discussions with Officers Association.  Provision for voluntary monthly contribution by employees.

5.  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.

6.  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.

7. THANK YOU.