Punjab govt increases commutation of pension

The Punjab government has decided to increase the amount of commutation of pension from 20 to 30 per cent, and the commuted portion of pension will be restored after 15 years from the actual date of commutation.
A notification in this regard has been issued today, an official spokesman said here.
He said the decision will cover those employees who retired on or after April 1, 2014. This will also be applicable to those who are on extension and retired on or after April 1, 2014.
He said the employees who retired before April 1, 2014, but have not applied for the commutation of pension as yet due to any reason, will also get enhanced commutation of pension from 20 to 30 per cent.

He also said that instructions in this regard have already been sent to the heads of all the departments, Divisional Commissioners and all Deputy Commissioners.