Accrual inceptions (Pvt) Ltd. Pk

1. PENSION

2. PENSION
An amount of money paid regularly by the government or
private company or pension fund manager to person who
is no more required to work or cannot work being too old
or shall not work being sick for the remainder of his life.

3. PENSION
A periodical payment made by Government in
consideration of past service rendered by a Government
servant

4. PENSIONER
A person in receipt of his personal pension is a “Pensioner”

5. SPOUSE
A husband or wife, considered in relation to their partner

6. FAMILY
A group consisting of two parents and their children living
together as a unit
”

7. DEPENDENT
A person who relies on another, especially a family
member, for financial support

8. CLAIM
Demand or request for something considered one's due

9. GIFT
A gift or a present is an item given to someone without the
expectation of payment or return.

10. RIGHT
Morally good, justified, or acceptable

11. IDENTIFY
Recognize or distinguish (especially something considered
worthy of attention)

12. CONDONE
Approve or sanction (something), especially with reluctance.

13. AUTHORITY
The power or right to give orders, make decisions, and enforce
obedience.

14. TYPES OF PENSIONS
Army Persons

15. FINAL SALARY PENSION SCHEME
A Final Salary (or Defined Benefit) scheme is a type of
occupational pension where the amount of retirement
income is based on your final salary.

16. DEFINED BENEFIT PENSION
A defined benefit pension plan is a type of pension plan in
which an employer/sponsor promises a specified pension
payment, lump-sum (or combination thereof) on retirement that
is predetermined by a formula based on the
employee's earnings history, tenure of service and age, rather
than depending directly on individual investment returns.
Traditionally, many governmental and public entities, as well as
a large number of corporations, provided defined benefit plans,
sometimes as a means of compensating workers in lieu of
increased pay.

17. SUPERANNUATION
A monthly payment made to someone who is retired from
work. old-age pension, retirement benefit, retirement check,
retirement fund, retirement pension. pension - a regular
payment to a person that is intended to allow them to subsist
without working.

18. INVALID PENSION
An invalid pension is awarded, on his retirement from the
public service, to a Government servant who by bodily or
mental infirmity is permanently incapacitated for the public
service, or for the particular branch of it to which he belongs.
The infirmity has, however, to be certified by a duly constituted
Medical Board.

19. ANTICIPATORY PENSION
When a government servant is likely to retire before his
pension can be finally assessed and settled action should
be taken for grant of anticipatory pension.

20. COMPENSATION PENSION
If a Government servant is selected for discharge owing to
the abolition of a permanent post, he shall, unless he is
appointed to another post, the conditions of which are
deemed by authority competent to discharge him to be at
least equal to those of his own

21. RETIRING PENSION
A retiring pension is granted to a Government servant who is
permitted to retire after completing qualifying service of 25
years. Such a pension is also granted to Government servant
who is required by Government to retire after completing
twenty-five years qualifying service or more.

22. ANTICIPATORY PENSION
When a government servant is likely to retire before his
pension can be finally assessed and settled action should
be taken for grant of anticipatory pension.

23. FAMILY
The ‘Family’ for the purpose of payment of death-cum-
retirement gratuity will include the following relatives of the
Government servant :-
• Wife or wives, in the case of a male Government servant.
• Husband, in the case of a female Government servant.
• Children of the Government servant.
• Widow or widows and children of a deceased son of the
Government servant.

24. DEPENDENT
When the Government servant leaves no family the amount of
Pension shall be payable to the following surviving relatives, if
any, of the Government servant in equal shares:-
• Mother
• Father
• Un-married sisters below the age of 21 years and widowed
sisters; and brothers below the age of 21 years.
Note:- Judicially separated or divorced mother who has
re-married does not fall in this category.

25. CONDONING OF INTERRUPTION AND DEFICIENCIES
• A deficiency of a period not exceeding six months in the
qualifying service of an officer shall be deemed to have
been condoned automatically.
• The authority competent to sanction pension may
condone a deficiency of more than six months but less
than a year subject to the following conditions

26. CONDONING OF INTERRUPTION AND DEFICIENCIES
• The officer had died while in service, or has retired under
circumstances beyond his control, such as on
invalidation or the abolition of his post, and would have
completed another year of service if he had not died or
retired.
• The service rendered by him had been meritorious.