The Punjab Government has decided that the linkage of full pension with qualifying service of 33 years would be dispensed with. It has been decided that Government employees, who has rendered minimum qualifying service of 25 years, would be entitled to full pension equal to 50 per cent of emoluments i.e. last pay drawn or average emoluments, whichever was beneficial to him. Disclosing this here today, Parminder Singh Dhindsa, Finance Minister, Punjab said that the method of calculation of proportionate pension in those cases, where the actual qualifying service rendered by a retiree was less than 25 years, the amount of proportionate pension would be calculated by piding the actual qualifying service (in six-monthly periods) by fifty (i.e. six-monthly periods of 25 years). He said that suppose a Government employee at the time of his retirement was drawing pay @ Rs.25,000 per month, which is more beneficial in case as compared to his average emoluments and the actual qualifying service rendered by him at the time of his retirement on superannuation is 20 years (or say 40 six-monthly periods), his proportionate pension would be calculated as under:-
50 % of Rs.25,000 X 40/50 = Rs.10.000 per men sum
Dhindsa said that these orders would be deemed to have come into force with effect from the 1st December, 2011.