Clarification regarding further Commutation of WB Pension due to ROPA, 2019

1.

Effective date of additional commutation

The effective date for additional commutation is the date on which the pensioner had already opted for commutation during retirement i.e. the age reckoned for calculation of commuted value of pension at the time of original application for commutation of pension will apply for calculation of commutation value of additional commutable pension.

2.

Date of restoration of additional commutation

The additional commuted portion of pension shall be restored after 15 (fifteen) years from 01.01.2020 or thereafter from the first day of the month on which the additional commutation is given effect to, as the case may be.

The portion originally commuted during retirement will however be restored as usual i.e. after 15 (fifteen) years from the date on which it became absolute

3.

Last date for submission of option

The last date for submission of option for additional commutation is 31.12.2020 i.e. 1 (one) year from the actual date of effect of WBS ROPA, 2019

4.

Amount of additional Commutation

The Pensioner shall be entitled to commute upto 40% of the revised pension. It is optional.

5.

Whether Medical Examination is necessary for additional commutation

Medical Examination is not necessary if the pensioner submits option within 31.12.2020.