Commutation Deduction upto 13 Years Only : Govt Orders by States

Commuted value of pension is re-sotred after15 years for Central Govt employees. It has been noticed that the amount given to a pensioner at the time of retirement on account of CVP (Commuted vaue of pension) is recovered for 15 years which fetches interest to govt @ 12% per annum. Whereas interest rate of Banks decreased to7% only. Considering the matter a number of court/tribunal cases has been filed.

Considering the issues, Some state Govt has revised the deduction period. Govt of Gujarat has decreased the restoration period to 13 years. Govt orders in this regard is reproducced here. In this context it is expected that Govt of India also will consider the matter at the same line in near future, as stated by preident of a veteran organisation.

Regarding restoration of Commuted value of pension after 13 years.

Government of Gujarat
Finance Department
Govt. Resolution No—NVT/102010/D/66/P (PENSION CELL)
Sachivalaya, Gandhinagar.
Dated: 12/10/2022

Read: (1)     G.R. Finance Department No-NVT/1186/3041/p1„ Dated: 06/12/1989

  • G.R. Finance Department No-NVT/1186/3041/p1, Dated: 03/04/1990
  • Gujarat Civil Service (Pension) Rules, 2002- Rule-101
  • G.R. Finance Department No: NVT/102010/D/66/P, Dated: 02/11/2010

Introduction:

Commuted value of pension is being restored after 15 years vide GR mentioned at (1), (2) and (4) above and under the provision of Gujarat Civil Service (Pension) Rules, 2002, Rule-101 read at (3) above.

Various employee organizations and pensioner associations of the state had made representations to reduce the period for restoration of the commuted value of pension and the same was under active consideration of the Government.

Resolution:

After careful consideration, Government is pleased to resolve the restoration of commuted value of pension after 13 years under Rule-101 of Gujarat Civil Service (Pension) Rules, 2002.

This order takes effect from Dt.24/09/2022. This benefit shall also be admissible to the pensioners who have already received commuted value of part of their pension. In case of the pensioners who have received commuted value of part of their pension and completed 13 years or more, their pension will be restored from the month of October, 2022.

The above amendment in Rule-101 of Gujarat Civil Service (Pension) Rules, 2002 shall be incorporated by separate notification. Other rules and instructions regarding this matter shall continue to be applicable.

By order and in the name of the Governor of Gujarat,

(Dipal Hadiya)
Deputy Secretary to Government,
Finance Department

To,

  • The Secretary to the Hon’ble Governor, Rajbhavan ,Gandhinagar, The Principal Secretary to Hon’ble Chief Minister, Gandhinagar. The Personal Secretaries to all Hon’ble Ministers/State level Ministers, Parliamentary Secretaries ,Sachivalaya , Gandhinagar.

The Personal Secretary to the Hon ‘bleLecader of Opposition, Gujarat Vidhansabha ,Sachivalaya, Gandhinagar.

  • The Secretary, Gujarat Legislative Secretariat ,Gandhinagar,
  • The Secretary, Gujarat Vigilance Commission, Gandhinagar,
  • The Secretary, Gujarat Civil Service Tribunal ,Gandhinagar,
  • The Secretary, Hon’ble Gujarat High Court , Ahmedabad.
  • The Secretary, Gujarat Subordinate Staff Selection Board ,Gandhinagar.
  • The Secretary, Gujarat Public Service Commission, Ahmedabad, All Departments of Secretariat/All HoDs/All Head of Offices.

The Accountant General-I (Audit), Gujarat State, Ahmedabad/Rajkot, The Accountant General -11 (A&E), Gujarat State, Ahmedabad /Rajkot The Examiner, Local Fund Accounts /All Dist. Assistant Examiners,

All District Collectors/District Development Officers,

The Director, Pension & Provident Fund, Gandhinagar,

The Pension Payment Office, Ahmedabad,

All District Treasury Officers/Sub Treasury Officers,

The Pay and Accounts Officer, Gandhinagar/Ahmedabad,

The Pay and Accounts Officer, SSNNL ,Gandhinagar/Vadodara, The Resident Audit Officer ,Gandhinagar/Ahmedabad,

All Boards/Corporations/Universities /Public Sector Undertakings of the Government,

All Officers/branches in Finance Department,

t‘..71he System Manager, Finance Department – For placing on the website. Select file, P br., Finance Department.

Leave a Comment

Scroll to Top