INVESTMENT, ETC. OF PENSION FUND

(1) The total amount vested in and transferred to the Pension Fund in accordance with the provisions of clause (a) of paragraph 3, except such amount as may be required from time to time for making the payment of pension and other benefits under the Scheme, shall be deposited on the appointed day by the Commissioner with the Central Government in the Public account.

(2) The commissioner shall make suitable banking arrangements in respect of the amount vested in the Pension Fund in accordance with the provisions of Clauses (b)} (c), (d), (e), and(f) of paragraph 3 and such amount shall be invested in accordance with such pattern of investment as may be determined by the Central Government in the Ministry of Finance from time to time.

MONTHLY PENSION

1. An employee after completion of thirty years of pensionable service and on attaining the age of superannuation shall be eligible to receive monthly pension at the rate of twenty five percent of the average emoluments or not less than rupees three hundred fifty from the date following the date of superannuation till the date of his death.

2. Where an employee has not completed thirty years but has completed ten years pensionable service on attaining the age of superannuation, the pension shall be determined on the following basis :- Length of pensionable service X 25 percent of the average emoluments. 30

3. Where an employee having completed 4ten years of pensionable service and would be attaining the age of superannuation within a 6period of twenty years, opts to retire from the service before attaining the age of superannuation, the amount of monthly pension payable to such employee shall be determined on the basis specified in Schedule -2.

4. Where an employee, has not completed ten years of pensionable service on attaining the age of superannuation, or opts to leave service, or his services are terminated, or becomes disabled before completion often years of pensionable service, the amounts payable by way of return of contribution to such employee shall be determined on the basis specified in Schedule-3

DISABLEMENT PENSION

Where an employee after rendering ten years of pensionable service becomes permanently handicapped or disabled on account of bodily or mental infirmity during his service time, and has been declared as such by a competent medical board, he shall be entitled to a disablement pension to be computed at the rate of twenty five percent of the average emoluments or not less than rupees three hundred fifty per month.

MONTHLY WIDOW OR WIDOWER PENSION

1. After the death of an employee from the date following the date of his/her death and till the date of her / his death or re-marriage whichever is earlier, his / her legally wedded wife / husband shall be entitled for widow or widower pension, as the case may be.

2. If an employee is having more than one legally wedded wife at the time of his death, all the surviving widows shall be entitled to receive in equal share the amount of widow pension till the date of their death or re-marriage, whichever is earlier.

3. The amount of monthly widow or widower pension payable on the death of an employee after the date of Superannuation or "date of his retirement shall be equal to sixty percent of the monthly pension of the employee as on the date of his / her death or not less than rupees two hundred and fifty.

4. In case an employee dies in service before attaining the age of superannuation, the amount of monthly widow or widower pension payable shall be equivalent to sixty six and two upon three percent, of monthly pension of the employee for which he / she would have become entitled on the date of his/ her death or not less than 4 rupees three hundred and twenty.

CHILDREN PENSION

(1) After the death of an employee from the date following the date of his/ her death, along with surviving wife / husband, two of the eldest sons or unmarried daughters, as the case 'may be, till they attain the age of twenty five years or in the case of unmarried daughter till the date of her marriage, whichever is earlier, shall be entitled to children pension.

(2) The amount of monthly children pension payable after the death of an employee shall be equal to twenty five percent of the amount of widow or widower pension for each son or daughter, as the case may be, or not less than rupees one hundred for each child.