A Government servant can exit at or after the age of 60 years from - TopicsExpress

A Government servant can exit at or after the age of 60 years from the Tier-I of the scheme. At exit, it would be mandatory for him to invest 40% of pension wealth to purchase an annuity (from an Insurance Regulatory and Development Authority (IRDA) regulated Life Insurance Company), which will provide pension for the lifetime of the employee and his dependent parents/spouse. In the case of Government servants who leave the Scheme before attaining the age of 60, the mandatory annuitization would be 80% of the pension wealth. Sushil Kumar Das, Utpal Kr Utpal Kumar Ghosh Ramprasad Kar Siddhartha Sen Jayanta Ghosh Subhasis Pal

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