- Please be informed that the Directorate of Indian Army Veterans (DIAV) has been inaugurated on 14 Jan 2016. This newly raised directorate is located along the Cavalry Road in Delhi Cantonment and the Veterans and Next of Kin may feel free to visit us during the working hours.
- With a view to reach out to the veteran fraternity, an official web portal at URL www.indianarmyveterans.gov.in has been fielded to meet the needs and aspirations of the veteran fraternity. Accordingly, the veterans and NoK may like to register themselves on this web portal for periodic news update & services and redressal of grievances
For the said purpose, you are requested to please fill in details as per the format appended below and mail the same at armyveteranscell@gmail.com or veteranscell-army@nic.in. Alternatively, the form duly filled on a hard copy could be mailed to the undersigned at Directorate of Indian Army Veterans, 104, Cavalry Road, Maude Line, Delhi Cantt – 110010.
Monday, 7 March 2016
Saturday, 5 March 2016
VETERANS - MUST ACT WHILE IN GOOD HEALTH
ACTIONS TO BE TAKEN BY VETERANS WHILE STILL IN
GOOD HEALTH
JUST DONOT POSTPONE THEM EVEN FOR A DAY
1. While
in service, we planned for all contingencies which might occur, whether in
official or personal matters. However, after retirement many of us do not
display the same meticulousness in our personal affairs. We feel that we still
have plenty of time to go and will place our affairs in order In due course of
time. When the unexpected happens, the NOK are left to clear an unimaginable
tangle of legal and financial issues. It is obviously our responsibility
towards our loved ones to organise our personal affairs, while we are still in
good health, so that our NOK can receive assets as smoothly as possible. Some
measures to ensure this are enumerated in succeeding paragraphs.
Monday, 22 February 2016
THEY DID THE CORPS PROUD
In this section our aim is introduce our Signallers who have made the Corps proud by their acts of unmatched bravery, Courage and Extra Ordinary Achievements. This post includes the following articles:-
1. The article compiled by Lt Col HS Bhandari (Veteran) and publishes in The SIGNALMAN Feb 2011 issue.
Friday, 5 February 2016
OROP IMPLEMENTATION INSTRUCTIONS
The implementation instructions have also been issues within 24 hrs of the issue of the MOD (DESW) Letter of 03 Feb 2016 vide PCDA(P) Circular Number 555 dated 04 Feb2016 to the Banks and other Pension Disbursement Agencies (PDAs). The Circular can be viewed / downloaded from their web site by opening the URL as under :-
http://www.pcdapension.nic.in/6cpc/Circular-555.pdf
The circular also has the MOD letter as an attachment to it. The circular gives comprehensive instructions to the PDAs to check the rank groups qualifying service of the pensioners from their PPOs and then pay as per the relevant tables as explained there. IT HAS BEEN HOWEVER ALLEGED THAT CERTAIN CONDITIONS WHICH ARE NOT THERE IN THE GOVT LETTER HAVE BEEN IMPOSED BY PCDA ON ITS OWN THERE BY DENYING THE RIGHTFUL PENSION TO JCOs & ORs
The PDAs are initiating action to make OROP payments to the pensioners with necessary Dearness Relief.. No application is also required from the pensioners.
All types of Family Pension will also be revised as given in the related tables attached. Since the Family pension is related to the Retiring Pension of the Pensioners the Family pensions will be regulated as per the Qualifying Service of the Pensioner, which is a new feature from the earlier instructions given in Circular No 500. This is because earlier that was the minimum guaranteed pension were as the OROP scheme is not based on minimum guaranteed scales.
\ All Majors who had retired after 21 years of service will be paid pension of LT COL.
The arrears wef 01 Jul 2014 till date will be paid in full to all types of family pensioners and gallantry award winners where as to others it will be in four equal installments.
The retiring pension of the Pensioners who retired after 01 Jan 2006 till 30 Jun 2014 will also be regulated as per OROP scheme. However in case they are already drawing more than the pension given in the related table will continue to get the higher pension.
The PBORs will be given pension as per their maximum terms of engagements which have also been listed in the Circular No 555. The circular also includes the equivalent ranks in Navy and Air Force for easy of understanding by the PDAs. Similarly various groups have also been charted with equivalent groups in Navy and Air Force. ORs who have been granted ACP 1 or ACP ll will be paid the pension of higher rank.
Note :- The tables as relevant have also been hosted in our following posts. Should any one of our readers like to ask any questions on the OROP scheme he/she should pen the same down in the comments colm. We will endeavour to reply by hosting our reply under their comments on this post. Please do give your rank and name so that we know that you are a Armed Forces Veteran even if of the lowest rank.
EXTRACTED FROM CIRCULAR
11. The provisions of this circular shall be applicable to all Pre-01.07.2014 pensioners/family pensioners and their pension/family pension shall be stepped up with reference to rank, group and qualifying service in which they were pensioned.
Note: -a) The officers retired on or after 1.1.1996 in the rank of Major and who have completed 21 years of service have been allowed the pay of Lt.Col. Accordingly, pension of these officers have been revised by issue of Corr. PPOs. It is therefore, requested to revise the pension of post-96 Army Officer with rank Major and its equivalent in the Air Force and Navy who have completed 21 years
GO TO FOLLOWING POSTS FOR DETAILED TABLES
BACK HOME
http://www.pcdapension.nic.in/6cpc/Circular-555.pdf
The circular also has the MOD letter as an attachment to it. The circular gives comprehensive instructions to the PDAs to check the rank groups qualifying service of the pensioners from their PPOs and then pay as per the relevant tables as explained there. IT HAS BEEN HOWEVER ALLEGED THAT CERTAIN CONDITIONS WHICH ARE NOT THERE IN THE GOVT LETTER HAVE BEEN IMPOSED BY PCDA ON ITS OWN THERE BY DENYING THE RIGHTFUL PENSION TO JCOs & ORs
The PDAs are initiating action to make OROP payments to the pensioners with necessary Dearness Relief.. No application is also required from the pensioners.
All types of Family Pension will also be revised as given in the related tables attached. Since the Family pension is related to the Retiring Pension of the Pensioners the Family pensions will be regulated as per the Qualifying Service of the Pensioner, which is a new feature from the earlier instructions given in Circular No 500. This is because earlier that was the minimum guaranteed pension were as the OROP scheme is not based on minimum guaranteed scales.
\ All Majors who had retired after 21 years of service will be paid pension of LT COL.
The arrears wef 01 Jul 2014 till date will be paid in full to all types of family pensioners and gallantry award winners where as to others it will be in four equal installments.
The retiring pension of the Pensioners who retired after 01 Jan 2006 till 30 Jun 2014 will also be regulated as per OROP scheme. However in case they are already drawing more than the pension given in the related table will continue to get the higher pension.
The PBORs will be given pension as per their maximum terms of engagements which have also been listed in the Circular No 555. The circular also includes the equivalent ranks in Navy and Air Force for easy of understanding by the PDAs. Similarly various groups have also been charted with equivalent groups in Navy and Air Force. ORs who have been granted ACP 1 or ACP ll will be paid the pension of higher rank.
Note :- The tables as relevant have also been hosted in our following posts. Should any one of our readers like to ask any questions on the OROP scheme he/she should pen the same down in the comments colm. We will endeavour to reply by hosting our reply under their comments on this post. Please do give your rank and name so that we know that you are a Armed Forces Veteran even if of the lowest rank.
EXTRACTED FROM CIRCULAR
11. The provisions of this circular shall be applicable to all Pre-01.07.2014 pensioners/family pensioners and their pension/family pension shall be stepped up with reference to rank, group and qualifying service in which they were pensioned.
Note: -a) The officers retired on or after 1.1.1996 in the rank of Major and who have completed 21 years of service have been allowed the pay of Lt.Col. Accordingly, pension of these officers have been revised by issue of Corr. PPOs. It is therefore, requested to revise the pension of post-96 Army Officer with rank Major and its equivalent in the Air Force and Navy who have completed 21 years
GO TO FOLLOWING POSTS FOR DETAILED TABLES
| OROP - CALCULATE YOUR ARREARS |
| OROP IMPLEMENTATION INSTRUCTIONS |
| OROP SCHEME - TABLES (OFFICERS) |
| OROP SCHEME - TABLES (PBORs) |
BACK HOME
Thursday, 4 February 2016
OROP SCHEME - TABLES (OFFICERS)
HOW MUCH HAS YOUR PENSION BEEN ENHANCED (INCL %age) ?
The much awaited tables have since been issued as part of implementation of the OROP. The Table for Officers are placed here in this post. The tables for Medicos are also hosted for our Doctor Fellow Veterans of Pre-2006 retirees. The tables for various types of Family Pensioners can also be accessed with links at the end of this post.
The Govt letter and detailed tables can be downloaded from http://www.desw.gov.in/sites/upload_files/desw/files/pdf/2016.02.03-OROP.pdf . The letter containing tables is a large pdf file of about 15 Mb. It has 205 pages incl 101 Appces of Various tables covering all aspects of pension for officers, JCOs & ORs and their equivalent ranks.
Look for the figure under your Rank and against the Number of years of actual service i.e the QS mentioned in your PPO. (Your service more than 3 months is to be counted as half year and more than
9 months is taken as full year. The rank weigtages are not to be added since these have been catered for in the figures of the pensions shown against the QS. The same can be well noticed for higher QS years showing similar figures of pension for the number of years equal to the rank weightage)
The figure is your basic pension wef 01 July 2014. Now deduct from this your current basic pension the difference will be your hike in pension for OROP. You will get arrears in 4 installments for the period starting 01 July 2014. These are shown in the table below for full pension.
Multiply the above derived difference by Maths Constant of "40.53" (INCREASE X 40.53 = Arrears) you will get the arrears receivable up to 31 JAN 2016. Similarly the total increase monthly as of date can be calculated by multiplying the increase/difference by 2.19 which is the current DA.
KNOW AS TO HOW OROP HIKES YOUR PENSION:- The Chart below pertains to the Service pension and the Ordinary family Pension in respect of Regular Officers of the Army Navy and IAF who have completed 33 Yrs and above of service before retirement incl rank weightage. For officers, with less service detailed tables may be checked which can be opened from the links given at the end of the post. ( check rank weightages under Qualifying Service in this blog). The tables issued by the PCDA (P) cater for the rank weightages While the service in the service column QS is actual service while the pension figures are already given for the service plus rank weightage for convenience.
COMMISSIONED OFFICERS (OTHER THAN AMC/ADC/RVC)
Notice the percentage increases in respect of the officer's retiring pension
Para 11 (a) of the Circular (MAJORS 21 YRS OF SERVICE)
a) The officers retired on or after 1.1.1996 in the rank of Major and who have completed
21 years of service have been allowed the pay of Lt.Col. Accordingly, pension of these officers
have been revised by issue of Corr. PPOs. It is therefore, requested to revise the pension of
post-96 Army Officer with rank Major and its equivalent in the Air Force and Navy who have
completed 21 years.
TABLE No 1 (RETIRING PENSION REGULAR OFFICERS)
PART - 1 (18 TO 25.5 Yrs OF QS)
Note - Lt Col (TS) and Lt Col (SG) are under the same Coln,
PART - 2 (26 YRS TO 33 YRS AND ABOVE OF QS)
Note - Lt Col (TS) and Lt Col (SG) are under the same Coln
TABLE CIRCULAR -500. This table gives the pension of Regular Officers as applicable before the OROP for ease of comparison with your Rank and QS.
This circular can be seen at http://www.pcdapension.nic.in/6cpc/Circular-500.pdf
COMMISSIONED OFFICERS - AMC/ADC/RVC
TABLE 2 - This table gives the Pension of Officers from AMC / ADC and RVC as below under the OROP Scheme. The OROP pension for them for 33 Yrs of Service and above is Rs 42500/- from Lt Col to Maj Gens. There has been no increase in pension under OROP for officers of the Ranks of Lt, Capt, Maj, and Lt Gens.
The Arreas shown above are for the period from 01 Jul 2014 to 31 Jan 2016 and will be paid by the PDAs in four equal instalments.
PCDA (P) Circular No 555 includes Table No 2, which gives detailed authorisation of OROP Pension for the Medical Officers based on their QS (Qualifying Service as mentioned in their PPOs).
Since under Cir-24 with addition of the NPA the pensions got enhanced by 25% and now under the OROP Scheme are to be enhanced further, these can only go up to the maximum of the Fitment Table equivalent of Notional Pay of Rs 79000/- under PB-4 ie just below the HAG+ Scale. Therefore in most cases the pensions reachs the max of Rs 42500/- much earlier for various ranks.
It will be seen that Lt Cols with QS of 22.5 and above, Cols and above with QS of 21.5 Yrs reach the maximum payable pension of Rs 42500/- per month.
In view of the above Lt Cols who left earlier stand to gain by getting the pension of a Lt Gen.
The method for calculations of hike and the arrears is same as mentioned above
There is no increase for the ranks as mentioned above at full service, however with lesser QS, there are increases under the OROP Scheme which can be seen.
The Arrears shown above are for the period from 01 Jul 2014 to 31 Jan 2016. These arrears will be paid to the Family Pensioners in one go.
TABLE CIRCULAR -24 . This table gives the revised pension of the Medicos, NPA included for comparison with the OROP table above for services less than 33 Yrs .
This circular is available on PCDA (P)'s web site and can be viewed at ---
http://www.pcdapension.nic.in/6cpc/Circular-24.pdf
_____________ && ______________ && _____________
CLICK ON THE TITLES BELOW TO OPEN OTHER RELATED TABLES FOR OFFICERS INCL MEDICOS.
REGULAR COMMISSIONED OFFICERS
MEDICOs
The much awaited tables have since been issued as part of implementation of the OROP. The Table for Officers are placed here in this post. The tables for Medicos are also hosted for our Doctor Fellow Veterans of Pre-2006 retirees. The tables for various types of Family Pensioners can also be accessed with links at the end of this post.
The Govt letter and detailed tables can be downloaded from http://www.desw.gov.in/sites/upload_files/desw/files/pdf/2016.02.03-OROP.pdf . The letter containing tables is a large pdf file of about 15 Mb. It has 205 pages incl 101 Appces of Various tables covering all aspects of pension for officers, JCOs & ORs and their equivalent ranks.
Look for the figure under your Rank and against the Number of years of actual service i.e the QS mentioned in your PPO. (Your service more than 3 months is to be counted as half year and more than
9 months is taken as full year. The rank weigtages are not to be added since these have been catered for in the figures of the pensions shown against the QS. The same can be well noticed for higher QS years showing similar figures of pension for the number of years equal to the rank weightage)
The figure is your basic pension wef 01 July 2014. Now deduct from this your current basic pension the difference will be your hike in pension for OROP. You will get arrears in 4 installments for the period starting 01 July 2014. These are shown in the table below for full pension.
Multiply the above derived difference by Maths Constant of "40.53" (INCREASE X 40.53 = Arrears) you will get the arrears receivable up to 31 JAN 2016. Similarly the total increase monthly as of date can be calculated by multiplying the increase/difference by 2.19 which is the current DA.
KNOW AS TO HOW OROP HIKES YOUR PENSION:- The Chart below pertains to the Service pension and the Ordinary family Pension in respect of Regular Officers of the Army Navy and IAF who have completed 33 Yrs and above of service before retirement incl rank weightage. For officers, with less service detailed tables may be checked which can be opened from the links given at the end of the post. ( check rank weightages under Qualifying Service in this blog). The tables issued by the PCDA (P) cater for the rank weightages While the service in the service column QS is actual service while the pension figures are already given for the service plus rank weightage for convenience.
COMMISSIONED OFFICERS (OTHER THAN AMC/ADC/RVC)
Notice the percentage increases in respect of the officer's retiring pension
Para 11 (a) of the Circular (MAJORS 21 YRS OF SERVICE)
a) The officers retired on or after 1.1.1996 in the rank of Major and who have completed
21 years of service have been allowed the pay of Lt.Col. Accordingly, pension of these officers
have been revised by issue of Corr. PPOs. It is therefore, requested to revise the pension of
post-96 Army Officer with rank Major and its equivalent in the Air Force and Navy who have
completed 21 years.
TABLE No 1 (RETIRING PENSION REGULAR OFFICERS)
PART - 1 (18 TO 25.5 Yrs OF QS)
PART - 2 (26 YRS TO 33 YRS AND ABOVE OF QS)
TABLE CIRCULAR -500. This table gives the pension of Regular Officers as applicable before the OROP for ease of comparison with your Rank and QS.
This circular can be seen at http://www.pcdapension.nic.in/6cpc/Circular-500.pdf
COMMISSIONED OFFICERS - AMC/ADC/RVC
TABLE 2 - This table gives the Pension of Officers from AMC / ADC and RVC as below under the OROP Scheme. The OROP pension for them for 33 Yrs of Service and above is Rs 42500/- from Lt Col to Maj Gens. There has been no increase in pension under OROP for officers of the Ranks of Lt, Capt, Maj, and Lt Gens.
The Arreas shown above are for the period from 01 Jul 2014 to 31 Jan 2016 and will be paid by the PDAs in four equal instalments.
PCDA (P) Circular No 555 includes Table No 2, which gives detailed authorisation of OROP Pension for the Medical Officers based on their QS (Qualifying Service as mentioned in their PPOs).
Since under Cir-24 with addition of the NPA the pensions got enhanced by 25% and now under the OROP Scheme are to be enhanced further, these can only go up to the maximum of the Fitment Table equivalent of Notional Pay of Rs 79000/- under PB-4 ie just below the HAG+ Scale. Therefore in most cases the pensions reachs the max of Rs 42500/- much earlier for various ranks.
It will be seen that Lt Cols with QS of 22.5 and above, Cols and above with QS of 21.5 Yrs reach the maximum payable pension of Rs 42500/- per month.
In view of the above Lt Cols who left earlier stand to gain by getting the pension of a Lt Gen.
There is no increase for the ranks as mentioned above at full service, however with lesser QS, there are increases under the OROP Scheme which can be seen.
The Arrears shown above are for the period from 01 Jul 2014 to 31 Jan 2016. These arrears will be paid to the Family Pensioners in one go.
TABLE CIRCULAR -24 . This table gives the revised pension of the Medicos, NPA included for comparison with the OROP table above for services less than 33 Yrs .
This circular is available on PCDA (P)'s web site and can be viewed at ---
http://www.pcdapension.nic.in/6cpc/Circular-24.pdf
_____________ && ______________ && _____________
CLICK ON THE TITLES BELOW TO OPEN OTHER RELATED TABLES FOR OFFICERS INCL MEDICOS.
REGULAR COMMISSIONED OFFICERS
MEDICOs
| TABLE 2- OFFRS AMC/ADC/RVC - RETIRING/SERVICE PENSION |
| TABLE 11- OFFRS AMC/ADC/RVC -ENHANCED RATE OF FAMILY PENSION |
| TABLE 20- OFFRS AMC/ADC/RVC - ORDINARY RATE OF FAMILY PENSION |
| TABLE 29- OFFRS AMC/ADC/RVC -SPECIAL FAMILY PENSION |
| TABLE 47 - OFFRS AMC/ADC/RVC -LIBERALISED FAMILY PENSION |
| TABLE
71 - OFFRS AMC/ADC/RVC -DISABILITY ELEMENT *********************************************** YOUR COMMENTS AND OBSERVATIONS ON THIS POST Dear Veterans, 1. We at Signals-Family Portal are ordinary people in various matters concerning serving and Retired Govt Personnel, as such, do heavily bank upon inputs from our readers. Kindly do add, comment and give your observations on this or any other post aimed at improving the posted contents for the benefit of the veterans community. 2. Kindly post these under the comments, we will much appreciate your contribution in this regard. 3. In order to avoid spam and unwarranted or mischievous posts, only such entries will get published where the Person has given his RANK, NAME @ EMAIL ID at the end of his/her text. 4. We will do our best to post our response as quickly as possible after getting the facts vetted from offrs, JCOs and men who are more knowledgeable on particular subject. With best wishes Sincerely yours, Brig Narinder Dhand (Veteran) ******************************************** |
OROP SCHEME - TABLES (PBORs)
OROP सरकार ने लागू कर दी है और बैंकों को पेमेंट करने के आदेश जारी हो गए हैं! *KNOW YOUR PERCENTAGE HIKE*
आप को कई लोग आज अपना उल्लू सीधा करने के लिए गुमराह कर रहें हैं ! आप अपने आप विचार करें! OROP से जो के past और present रिटायर्ड पेर्सोंनेल्स की पेंशन में फरक था उसको तक़रीबन ख़तम किआ गिया है! यह कोई जिआदा पेंशन देने का मुद्दा नहीं था और ना ही है ! आप अपने आप इसको चेक करें अपने साथ वालों से जो PRE-06 और POST-06 के रिटायर हुए है और उतनी बराबर सर्विस , रैंक वा ग्रुप वालों की पेंशन तक़रीबन बराबर बनती है या नहीं! अगर नहीं है तो कुछ बात है जिस के लिए संघर्ष जारी रखना होगा !
जैसा के आप को मालूम होगा JCOs & ORs की पेंशन 01 जुलाई
** आगे पढ़ने के लिए नीचे क्लिक करें **
2009 को बढ़ाई गयी थी ! उस समय यह पेंशन "MODIFIED PARITY" यानि के पुरानी पेंशन को तकरीबन POST-2006 रिटायर होने वाले PBORs के बराबर कर दी गयी थी ! आप ने देखा होगा के जो लोग JAN 2006 के बाद रिटायर हुए थे उनकी पेंशन और आपकी पेंशन में कोई खास फर्क जुलाई २००९ से नहीं रहा था ! इसे आप नीचे दी हुई example से देखे और विचार करे !
यह फार्मूला ऑफिसर्स के लिए लागू नहीं किआ गिया था इस के कारन उनकी पेंशन पोस्ट -2006 के रिटायर होने वाले ऑफिसर्स से बहुत ही कम थी जिसकी पूर्ती OROP से कुछ हद तक हो रही है!
अब OROP आने से जनवरी 2006 से पाहिले और बाद वाले रिटायर होने वाले लोगों की पेंशन में फर्क तक़रीबन तक़रीबन मिटा दिया गिया है! अगर कुछ है भी तो बहुत ही थोडा है और एवरेज लेने के कारन है और सिर्फ नाम मात्र ही है!
आगे पढ़ने पर आप को टेबल्स और बाकी की डिटेल्स मिल जाएँगी ! अगर आप का कोई सवाल हो तो COMMENTS (कमेंट्स) में लिख दें हम कोशिस करेंगे आप का जवाब देने को! आप अपना रैंक जरुर नाम के साथ लिखें ता के हम आपको ठीक तरह एड्रेस कर सकें!
EXAMPLE --
यह फिगर Circular 430 में दिया हुआ है - Rs 4600 pm
किओं के यह पहले से ही maximum स्केल पर है तो pre-2006 और पोस्ट-2006 वाले रिटायर्ड JCOs और ORs की पेंशन इस लिए जुलाई २००९ जब यह सर्कुलर लागू हुआ है से कोई खास फरक नहीं बचा है.!
CIRCULAR 501 - जो के 24 SEP 2012 से लागू हुआ है उसमे maximum पेंशन को ३३ साल से ३२ साल कर दिया गिया है. अब आप ऊपर वाली EXAMPLE को कैलकुलेट करें तो पेंशन 4600 से 5156 बनती है जो के इस सर्कुलर में दी गई है.
Let us look at the increase in pension with the OROP Scheme by comparing the Pensions which were fixed as on 1-1-2006 when Recommendations of 6th CPC were implemented with effect, with the scales of OROP. The chart below shows the increase in pension and the Percentage increase.
It will be noticed that the Other Ranks have been awarded with above 40% increase while JCOs with above 20% from their pensions as on 01 Jan 2006. Their pensions were increased and brought at modified parity with post -2006 retirees twice on 01 Jul 2009 and 24 Sep 2012. This had been done only for the JCOs and ORs and not for the officers.
The much awaited Tables giving OROP pension have been issued by the MOD. All related tables generally meant for the PBORs and various types of Family Pensioners are given at the end of this post for convenience.
The Govt letter with detailed tables can be downloaded from http://www.desw.gov.in/sites/upload_files/desw/files/pdf/2016.02.03-OROP.pdf .
The letter and the tables is a large pdf file of about 15 Mb. It has 195 pages incl 101 Appces of Various tables covering all aspects of pensions for the Armed forces. Table No 7 as given in the said Govt letter in respect of PBORs has been hosted below in this post and all other tables can also be accessed.
You can look for the figure under your Rank and against the Number of years of actual service i.e the QS mentioned in your PPO. Your service more than 3 months is to be counted as half year and less than 3 months is ignored.
This is your basic pension wef 01 July 2014. Now deduct from this your current basic pension the difference will be your hike in pension for OROP. You will get arrears in 4 installments for the period starting 01 July 2014.
Multiply the above derived difference by Maths Constant of "40.53" (INCREASE X 40.53 = Arrears) you will get the arrears receivable up to 31 Jan 2016. Similarly the total increase monthly as of date can be calculated by multiplying the increase/difference by 2.19.
OROP - COMPARITIVE TABLE - JCOs, ORs & HONY LT & CAPTs
इस टेबल में रैंक के आगे अपनी क्वालीफाइंग सर्विस देख कर कालम 'C ' या 'F' के नीचे OROP की फिगर दी गयी है जो के आगे वाले टेबल से ली गयी है को नोट कर लें ! इस में से जो भी फिगर कलम 'D' या 'G' के नीचे है वोह आपकी अभी की बेसिक पेंशन होनी चाहिएं जो के सर्कुलर नंबर 501 से ली गयी है को माइनस (घटा दें ) कर दें . वोह आप की पेंशन में बढात (increase) है . यह कालम 'E' व 'H' में दी गई हैं !
1. आप के अर्रेअर्स ARREARS होंगे = कालम 'E' या 'H' गुणा ( MULTIPLY) X 40.53 1 जुलाई २०१४ से 31 जनवरी 2016 तक !
Example - Havildar 'Y' Gp with 24 Yrs of Service - Arrears will be = 433X40.53=17550.
2. आप की नई -OROP- पेंशन = कालम 'C' या 'F' गुणा ( MULTIPLY) X 2.19 हर महीने !
Example - Havildar 'Y' Gp with 24 Yrs of Service - New Pension will be = 7808X2.19= 17100 per month with DA as applicable today of 119%.
(अगर आप को कोई गलती मिले तो नीचे कमेंट्स में लिख दें हम उसे ठीक करने की प्रतिक्रीय करेगे)
Table No 7 These are from the detailed tables as given in Govt Letter of 03 Feb 2016
NOTE :- The figures given in the tables above should be compared with the current pension you are getting as per PCDA Circular Number - 501 which can be viewed by opening the following web page :-
http://www.pcdapension.nic.in/6cpc/Circular-501.pdf
OTHER RELATED TABLES FOR JCOS & ORs AND EQUIVALENT RANKS IN NAVY AND IAF - CLICK ON THE TITLES BELOW TO OPEN
OTHER POSTS ON OROP SCHEME which can be accessed from here by clicking on the Titles below
आप को कई लोग आज अपना उल्लू सीधा करने के लिए गुमराह कर रहें हैं ! आप अपने आप विचार करें! OROP से जो के past और present रिटायर्ड पेर्सोंनेल्स की पेंशन में फरक था उसको तक़रीबन ख़तम किआ गिया है! यह कोई जिआदा पेंशन देने का मुद्दा नहीं था और ना ही है ! आप अपने आप इसको चेक करें अपने साथ वालों से जो PRE-06 और POST-06 के रिटायर हुए है और उतनी बराबर सर्विस , रैंक वा ग्रुप वालों की पेंशन तक़रीबन बराबर बनती है या नहीं! अगर नहीं है तो कुछ बात है जिस के लिए संघर्ष जारी रखना होगा !
जैसा के आप को मालूम होगा JCOs & ORs की पेंशन 01 जुलाई
** आगे पढ़ने के लिए नीचे क्लिक करें **
2009 को बढ़ाई गयी थी ! उस समय यह पेंशन "MODIFIED PARITY" यानि के पुरानी पेंशन को तकरीबन POST-2006 रिटायर होने वाले PBORs के बराबर कर दी गयी थी ! आप ने देखा होगा के जो लोग JAN 2006 के बाद रिटायर हुए थे उनकी पेंशन और आपकी पेंशन में कोई खास फर्क जुलाई २००९ से नहीं रहा था ! इसे आप नीचे दी हुई example से देखे और विचार करे !
यह फार्मूला ऑफिसर्स के लिए लागू नहीं किआ गिया था इस के कारन उनकी पेंशन पोस्ट -2006 के रिटायर होने वाले ऑफिसर्स से बहुत ही कम थी जिसकी पूर्ती OROP से कुछ हद तक हो रही है!
अब OROP आने से जनवरी 2006 से पाहिले और बाद वाले रिटायर होने वाले लोगों की पेंशन में फर्क तक़रीबन तक़रीबन मिटा दिया गिया है! अगर कुछ है भी तो बहुत ही थोडा है और एवरेज लेने के कारन है और सिर्फ नाम मात्र ही है!
आगे पढ़ने पर आप को टेबल्स और बाकी की डिटेल्स मिल जाएँगी ! अगर आप का कोई सवाल हो तो COMMENTS (कमेंट्स) में लिख दें हम कोशिस करेंगे आप का जवाब देने को! आप अपना रैंक जरुर नाम के साथ लिखें ता के हम आपको ठीक तरह एड्रेस कर सकें!
EXAMPLE --
सर्कुलर नो 430 में जो पेंशन दिखाए है वोह 50%
of Notional Pay जिओ के उस रैंक और ग्रुप की के maximum pay scale है ! नीचे टेबल में maximum पे स्केल दी गई हैं . .
RANK
|
X Gp
|
Y Gp
|
Sepoy
|
Rs 14,050
|
Rs 12,000
|
Nk
|
Rs 15,060
|
Rs 13,150
|
Hav
|
Rs 16,710
|
Rs 14,290
|
Nb Sub
|
Rs 23,020
|
Rs 24,350
|
Sub
|
Rs 26,210
|
Rs 23,940
|
Sub Maj
|
Rs 26,900
|
Rs 24,570
|
आओ अब नाएक Y ग्रुप की पेंशन कैलकुलेट करें.
Nk of Gp Y जो के 15 साल की सर्विस पर रिटायर हुए उनकी पेंशन इस तरेह होगी .
: Pension : 0.5 x (13150+50) x (15+10)/33 =
Rs 4600 pm
यह फिगर Circular 430 में दिया हुआ है - Rs 4600 pm
किओं के यह पहले से ही maximum स्केल पर है तो pre-2006 और पोस्ट-2006 वाले रिटायर्ड JCOs और ORs की पेंशन इस लिए जुलाई २००९ जब यह सर्कुलर लागू हुआ है से कोई खास फरक नहीं बचा है.!
CIRCULAR 501 - जो के 24 SEP 2012 से लागू हुआ है उसमे maximum पेंशन को ३३ साल से ३२ साल कर दिया गिया है. अब आप ऊपर वाली EXAMPLE को कैलकुलेट करें तो पेंशन 4600 से 5156 बनती है जो के इस सर्कुलर में दी गई है.
Let us look at the increase in pension with the OROP Scheme by comparing the Pensions which were fixed as on 1-1-2006 when Recommendations of 6th CPC were implemented with effect, with the scales of OROP. The chart below shows the increase in pension and the Percentage increase.
It will be noticed that the Other Ranks have been awarded with above 40% increase while JCOs with above 20% from their pensions as on 01 Jan 2006. Their pensions were increased and brought at modified parity with post -2006 retirees twice on 01 Jul 2009 and 24 Sep 2012. This had been done only for the JCOs and ORs and not for the officers.
The much awaited Tables giving OROP pension have been issued by the MOD. All related tables generally meant for the PBORs and various types of Family Pensioners are given at the end of this post for convenience.
The Govt letter with detailed tables can be downloaded from http://www.desw.gov.in/sites/upload_files/desw/files/pdf/2016.02.03-OROP.pdf .
The letter and the tables is a large pdf file of about 15 Mb. It has 195 pages incl 101 Appces of Various tables covering all aspects of pensions for the Armed forces. Table No 7 as given in the said Govt letter in respect of PBORs has been hosted below in this post and all other tables can also be accessed.
You can look for the figure under your Rank and against the Number of years of actual service i.e the QS mentioned in your PPO. Your service more than 3 months is to be counted as half year and less than 3 months is ignored.
This is your basic pension wef 01 July 2014. Now deduct from this your current basic pension the difference will be your hike in pension for OROP. You will get arrears in 4 installments for the period starting 01 July 2014.
Multiply the above derived difference by Maths Constant of "40.53" (INCREASE X 40.53 = Arrears) you will get the arrears receivable up to 31 Jan 2016. Similarly the total increase monthly as of date can be calculated by multiplying the increase/difference by 2.19.
OROP - COMPARITIVE TABLE - JCOs, ORs & HONY LT & CAPTs
इस टेबल में रैंक के आगे अपनी क्वालीफाइंग सर्विस देख कर कालम 'C ' या 'F' के नीचे OROP की फिगर दी गयी है जो के आगे वाले टेबल से ली गयी है को नोट कर लें ! इस में से जो भी फिगर कलम 'D' या 'G' के नीचे है वोह आपकी अभी की बेसिक पेंशन होनी चाहिएं जो के सर्कुलर नंबर 501 से ली गयी है को माइनस (घटा दें ) कर दें . वोह आप की पेंशन में बढात (increase) है . यह कालम 'E' व 'H' में दी गई हैं !
1. आप के अर्रेअर्स ARREARS होंगे = कालम 'E' या 'H' गुणा ( MULTIPLY) X 40.53 1 जुलाई २०१४ से 31 जनवरी 2016 तक !
Example - Havildar 'Y' Gp with 24 Yrs of Service - Arrears will be = 433X40.53=17550.
2. आप की नई -OROP- पेंशन = कालम 'C' या 'F' गुणा ( MULTIPLY) X 2.19 हर महीने !
Example - Havildar 'Y' Gp with 24 Yrs of Service - New Pension will be = 7808X2.19= 17100 per month with DA as applicable today of 119%.
GROUP 'X' GROUP 'Y'
Table No 7 These are from the detailed tables as given in Govt Letter of 03 Feb 2016
http://www.pcdapension.nic.in/6cpc/Circular-501.pdf
***** *** *****
OTHER RELATED TABLES FOR JCOS & ORs AND EQUIVALENT RANKS IN NAVY AND IAF - CLICK ON THE TITLES BELOW TO OPEN
OTHER POSTS ON OROP SCHEME which can be accessed from here by clicking on the Titles below
Monday, 1 February 2016
QUALIFYING SERVICE (QS)
With implementation of the OROP the Qualifying Service is now a very important factor for all Pensioners and Family Pensioners. The QS as mentioned in your PPOs is to be considered by the PDAs while fixing your pension under the OROP Scheme. It is therefore important that you must check the same in your PPOs for correctness as per your Records of Service.
For convenience the QS in respect of various types of entries are explained below;-
For convenience the QS in respect of various types of entries are explained below;-
Wednesday, 6 January 2016
DON'T LEAVE YOUR FAMILY IN LURCH
CASE STUDY
PLEASE READ THIS CASE STUDY
VERY CAREFULLY - Life lessons shared on the Web---
We always believe we will live forever. Bad things
always happen to others. Only when things hit us bang on your head you
realise... Life is so unpredictable.... My husband was an IT guy ...all
techie...And I am a chartered accountant...Awesome combination you may think...
Techie guy so everything is
on his laptop ...his to do list... his e-bill and his bank statements in his
email... He even maintained a folder
which said IMPWDS...wherein he stored all login id and passwords for all his
online accounts...And even his laptop had a password ... Techie guy so all the
passwords were alpha-numeric with a special character not an easy one to crack
...Office policy said passwords needed to be changed every 30 days...So every
time I accessed his laptop I would realise it's a new password again... I would
simply opt for asking him 'What's the latest password' instead of taking the
strain to memorise it.
You may think me being a
Chartered Accountant would means everything is documented and filed properly...
Alas many of my chartered accountant friends would agree that the precision we
follow with our office documents and papers do not flow in to day to day home
life...At office you have be epitome of Reliability I Competent I Diligent etc
but... at home front there is always a tomorrow ... One fine morning my hubby
expired in a bike accident on his way home from office. His laptop with all his
data crashed...everything on his hard disk wiped off No folder of IMPWDS to refer back to... But
that was just the beginning... I realised I had a lot to learn... 9 years
married, no kids, just the two of µs to fall back on, but now I stood all alone
and lost.
Being a chartered accountant
helped in more ways than one but it was not enough... I needed help...His
saving bank accounts, his salary bank accounts had no nomine...On his insurance
his mom was the nominee and it was almost 2 years back she had expired ... but
this was just a start .... I didn't know the password to his email account
where all his e-bill came ...I didn't know •which expenses he paid by standing
instructions...
The house we bought with all
the excitement...on a loan...thought with our joint salary we could afford the
EMl... when the home loans guys suggested insurance on the loan...we decided
the instead of paying the premium the difference in the EMI on account of the
insurance could be used pay towards prepayment of the loan and .get the tenure
down...We never thought what we would do if we have to live on a single salary.
So now there was huge EMI to look into I
realised I was in for a long haul... Road
accident case, so everywhere I needed a
Death certificate, FIR report, Post Mortem report. For everything there were
forms running into pages, indemnity bonds, notary...surety to stand up
for you...No objections certificates from your co-heirs.. I learnt other than your
house, your land ... your car, your bike are also your property ... So what if
you are the joint owner of the flat...you don't become the owner just because
your hubby is no more... So what if your hubby expired in the bike
accident...and you are the nominee but if the bike is in a repairable condition
...you have to get the bike transferred in your name to claim the
insurance...And that was again not easy... the bike or car cannot be
transferred in your name without going through a set of legal documents ... Getting
a Succession Certificate is another battle all together ...
Then came the time you
realise now you have to start changing all the bills, assets in your
name...Your gas connection, electricity meter, your own house, your car, your
investments and all sundries... And then change ati the nominations where your
own investments are concerned...And again a start of a new set of paperwork...
To say I was shaken...my
whole life had just turned upside down was an understatement. ..You realise you
don't have time to mourn and grieve for the person with whom you spent the best
years of your life...because you are busy sorting all the paper work ... I
realised then how much I took life for granted...! thought being a chartered
accountant I am undergoing so many difficulties...what would have happened to
someone who was house maker who wouldn't understand this legal hotchpotch...
A sweet friend then told me
dear this was not an end...you have no kids...your assets will be for all who
stand to claim...after my hubby's sudden death...I realised it was time I took
life more seriously... Inow needed to make a Will... Iwould have laughed a few
months back if he had asked me to make one ...But now life had taken a twist.
..
Lessons learnt this hard way
were meant to be shared...After all why should the people whom we love the most
suffer after we are no more...Sorting some paperwork before we go will at least
ease some of their grief ...
1. Check all your nominations... Bank Accounts, Fixed
Deposits, NSC, Bank Lockers Demat Accounts,Insurance (Life,Bike or Car er
Property}, investments, PPF etc.
2. Passwords.... We
have passwords for
practically everything What
happens when your next of kin
cannot access any of these simply because they do not know your password... Put
it down on a paper...
3. Investments... Every year for tax purpose we do
investments... Do we maintain an excel sheet about it... If so is it on the
same laptop of which the password you had not shared... Where are those
physical investments hard copy...
4. Will... Make a Will...t know you will smile even I would...had
I not gone through all what Idid...lt would have made my life lot easier...a
lot less paperwork...I wouldn't have had to provide an indemnity bond, get it
notarised, ask surety to stand up, no objections certificates from others...
.5. Liabilities... When you
take a loan say for your house or car ...Check out on all the what
ifs...what if I am not there tomorrow
...what if I lose my job ...Will the EMI still be within my range...lf not get
an insurance on the loan...The people left behind will not have to worry on
something as basic as their own house...
My battles have just
begun...But let us at least try and make few changes so that our loved ones
would not suffer after we go...We do not know what will happen in the
future...But as the Scout motto goes: Be prepared!!Learn from my experience and
prepare today for the unexpected. A little effort now will save your loved ones
a lot of trouble later.
THERE IS STILL TIME TODAY WITH YOU TAKE ACTIONS IMMEDIATELY, THERE IS ENOUGH MATERIAL AVAILABLE UNDER THE VETERAN'S LIBRARY HERE FOR YOU TO DRW OUT YOUR DOCUMENTS.
***********************************************
YOUR COMMENTS AND OBSERVATIONS ON THIS POST
Dear Veterans,
1. We at Signals-Family Portal are ordinary people in various matters concerning serving and Retired Govt Personnel, as such, do heavily bank upon inputs from our readers. Kindly do add, comment and give your observations on this or any other post aimed at improving the posted contents for the benefit of the veterans community.
2. Kindly post these under the comments, we will much appreciate your contribution in this regard.
3. In order to avoid spam and unwarranted or mischievous posts, only such entries will get published where the Person has given his RANK, NAME @ EMAIL ID at the end of his/her text.
4. We will do our best to post our response as quickly as possible after getting the facts vetted from offrs, JCOs and men who are more knowledgeable on particular subject.
With best wishes
Sincerely yours,
Brig Narinder Dhand (Veteran)
********************************************
***********************************************
YOUR COMMENTS AND OBSERVATIONS ON THIS POST
Dear Veterans,
1. We at Signals-Family Portal are ordinary people in various matters concerning serving and Retired Govt Personnel, as such, do heavily bank upon inputs from our readers. Kindly do add, comment and give your observations on this or any other post aimed at improving the posted contents for the benefit of the veterans community.
2. Kindly post these under the comments, we will much appreciate your contribution in this regard.
3. In order to avoid spam and unwarranted or mischievous posts, only such entries will get published where the Person has given his RANK, NAME @ EMAIL ID at the end of his/her text.
4. We will do our best to post our response as quickly as possible after getting the facts vetted from offrs, JCOs and men who are more knowledgeable on particular subject.
With best wishes
Sincerely yours,
Brig Narinder Dhand (Veteran)
********************************************
NOMINEE IN BANK ACCTS - LEGAL STATUS
LEGAL ISSUES -WILL YOUR NOMINEE GET THE MONEY ON YOUR DEATH -- HE/SHE WILL NOT MOST PROBABLY
Did you think that
your nominee is the person, who will get all the money
legally from your
Life Insurance Policy and Mutual funds investments? Ha!
That is exactly what
you’d think if you aren’t aware of the legal aspects.
We assume a lot of
things which sounds like they’re obvious, but are not
true from the legal point
of view. Today, we’ll concentrate on nominations
in financial
products.
For whom are we
earning? For whom are we investing? Who, do we want
to leave all our
wealth to, in case something happens to us? It might be
your children, your
spouse, parents, siblings etc., or just a subset of these.
You also might want
to exclude some people from your list fo
beneficiaries! So you
think you will nominate person X in your Insurance
policy, and when you
are dead and gone, all the money goes to person
X and he/she becomes
the sole owner? You’re wrong, dude ! It doesn’t
work that way. Let’s
see how it actually does!
What is a nominee?
According to law, a
nominee is a trustee not the owner of the assets. In
other words, he is
only a caretaker of your assets. The nominee will only
hold your money/asset
as a trustee and will be legally bound to transfer it
to the legal heirs.
For most investments,
a legal heir is entitled to the
deceased’s assets.
For instance, Section 39 of the Insurance Act says the
appointed nominee
will be paid, though he may not be the legal heir. The
nominee, in turn, is
supposed to hold the proceeds in trust and the legal
heir can claim the
money.
A legal heir will be
the one whose is mentioned in the will. However, if a
will is not made,
then the legal heirs of the assets are decided according
to the succession
laws, where the structure is predefined on who gets how
much. For example, if
a man during his lifetime executes a will. In the will,
he mentions his wife
and children as legal heirs, then after his death, his
wife and children are
the legal owners of his assets. It is essential that one
needs to execute a
will. It is the ultimate source of truth and replaces the
succession law.
Nominee can also be one of the legal heirs.
Important. Mention
the Full Name, Address, age, relationship to yourself
of the nominee. Do
not write the nomination in favour of “wife” and
“children” as a
class. Give their specific names and particulars existing at
that moment. If the
nominee is a minor, appoint a person who is a major
as an appointee
giving his full name, age, address and relationship to the
nominee.
Why is the concept of
nominee?
So you might be
wondering, if the nominee does not become the sole
owner, why does such
a concept of “nominee” exist at all? It’s pretty
simple. When you die,
you want to make sure that the Insurance
company, Mutual fund
or your shares should at least get out of the
companies and go to
someone you trust, and who can further help, in
process of passing it
to your legal heirs.
Otherwise, if a
person dies and hasn’t nominated anyone, your legal heirs
will have to go
through the process of producing all kind of certificates like
death certificates,
proof of relation etc., not to mention that the whole
process is really
cumbersome! (For each legal entity! The insurance
company, the mutual
funds, for the shares, for the real estate..) . So, to
simplify, if a
nominee exists, these hassles don’t happen, since the
company is bound to
transfer all your money or assets to the nominee.The
company the goes out
of scene & then, it’s between nominee and legal
heirs.
Example of Nomination
Ajay was 58 years old
who died recently in an accident. As his children
were settled, he
wanted to make sure that his wife is the sole owner of all
the monetary assets.
This includes his insurance policy and mutual funds.
So during his
lifetime, he nominated his wife as a nominee in his term
insurance policy and
mutual funds investments. However, after Ajay’s
death things didn’t
turn up the way he wanted. The reason being Ajay did
not leave a will.
Though his wife was the nominee in all his movable assets,
as per the law, his
wife, along with children, were the legal heirs and all of
them had equal right
to Ajay’s assets.
One simple step which
could have saved the situation 2qw that Ajay
should have made a
will which clearly stated that only his wife was
entitled to get all
the money and not his children.
IMPLICATIONS OF
NOMINATION ARE DIFFERENT FOR EACH CATEGORY !!
Nomination in Life
Insurance
A policy holder can
appoint multiple nominees and can also specify their
shares in the policy
proceeds. Nomination in life insurance has one
limitation, as
insurance policies are bought to secure your financial
dependents, your
first choice of nominee has to be your family members.
In case you want to
nominate a non-family member like a friend or third
party, you will have
to show/PROVE the insurance company that there is
some insurable
interest for the person. This happens because of a Clause
called PRINCIPAL OF
INSURABLE INTEREST in insurance. Note that provision
of nomination in life
insurance is related to Section 39 of the Insurance
Act. Note that as per
LIC website
Nomination is a right
conferred on the holder of a Policy of Life Assurance
on his own life to
appoint a person/s to receive policy moneys in the event
of the policy
becoming a claim by the assured’s death. The Nominee
does not get any
other benefit except to receive the policy moneys on
the death of the Life
Assured. A nomination may be changed or
cancelled by the life
assured whenever he likes without the consent of the
Nominee.
Make sure, you have a
nominee for your policy for easy settlement of the
claim, if you do not
have any nominee mentioned in the policy, it can turn
out to be a disaster
for your dependents to get a claim.
Nomination in Mutual
funds
In case of mutual
funds, you can nominate up to three people, who can
be registered at the
time of purchasing the units. While filling in the
application form,
there is a provision to fill in the nomination details. Even
a minor can be a
nominee, provided the guardian is specified in the
nomination form. You
can also change nomination later by filling up a
form which is available
on the mutual fund company website. Nomination
in mutual funds is at
folio level and all units in the folio will be transferred to
the nominee(s). If an
investor makes a further investment in the same folio,
the nomination is
applicable to the new units also. A non-resident Indian
can be a nominee,
subject to the exchange control regulations in force
from time to time.
Nomination in Shares
Quiz for you . Now
you know what a nominee means and who actually
gets the money. So if
there is a husband H, with wife W and nephew N,
and he has nominated
his nephew N to be the nominee of his shares in
demat account, who
will have the legal right to own the shares after
husband’s death? If
you answer is wife, you are wrong in this case! In case
of stocks, it does
not work the usual way, if a will does not exist.
In the verdict,
Justice Roshan Dalvi struck down a petition filed by Harsha
Nitin Kokate, who was
seeking permission to sell some shares held by her
late husband. The
Court noted that as she was not the nominee, she had
no ownership rights
over the shares. Ms Kokate’s lawyer had argued that
as she was the heir
of her husband who had died intestate (without a will),
she should have
ownership rights of the shares, and be able to do
anything with them as
she wished. In this case, Ms Kokate’s husband had
nominated his nephew
in favour of the shares. Justice Dalvi however
noted that under the
provisions of the Companies Act and the
Depositories Act,
Acts which govern the transfer of shares, the role of a
nominee was
different.“A reading of Section 109(A) of the Companies Act
and 9.11 of the
Depositories Act makes it abundantly clear that the intent
of the nomination is
to vest the property in the shares which includes the
ownership rights
there under in the nominee upon nomination validly
made as per the
procedure prescribed, as has been done in this case.”
It means that if you
have not written a will, anyone who has been
nominated by you for
your shares will be the ultimate owner of those
stocks, The
succession laws on inheritance will not be applicable but in
case, you have made a
will, that will be the source of truth.
Nomination in PPF
Let me give you some
shock first. If you have Rs 10 lakh in your public
provident fund (PPF) account
and you have not nominated anyone for
your PPF account,
your legal heirs will get maximum of Rs1 lakh only! Yes,
it’s so important to
have a nominee, now you get it. You can nominate
one or more persons
as nominee in PPF. Form ‘F’ can be used to change or
cancel a nomination
for PPF. Also note that you cannot nominate anyone
if you open an
account for a minor.
Nomination in
Saving/Current/FD/RD Account in Banks
FD’s also come with
nomination facility. While opening a new account,
there is a column for
nomination in the same form and you should fill it.
You can nominate two
persons with first and second option. Note that in
case you have not
done any nomination till now, you should request Form
No DA-1 from your
Bank which is used to assign a nominee in future.
(Examples of ICICI
Bank , HDFC Bank , Canara Bank) . In the same way to
change/cancel the
nomination you need to fill up Form no DA-2. Read
about Corporate Fixed
Deposits
As per a famous case,
A Bench of Justices Aftab Alam and R M Lodha in
an order said that
the money lying deposited in the account of the
original depositor
should be distributed among the claimants in
accordance with the
Succession Act of the respective community and
the nominee cannot
claim any absolute right over it.
Section
45ZA(2)(Banking Regulation Act) merely put the nominee in the
shoes of the
depositor after his death and clothes him with the exclusive
right to receive the
money lying in the account. It gives him all the rights of
the depositors so far
as the depositors’s account is concerned. But it by no
stretch of
imagination make the nominee the owner of the money lying.
MAKE A WILL ! DO YOUR
NEXT KIN A HUGE FAVOUR BY NOT LEAVING THEM IN LEARCH!
MAKE SURE YOU
UNDERSTAND THE IMPLICATIONS OF LAWS
INFORM EVERY ONE WHOM YOU FEEL MUST TAKE ACTION NOW.
| *********************************************** YOUR COMMENTS AND OBSERVATIONS ON THIS POST Dear Veterans, 1. We at Signals-Family Portal are ordinary people in various matters concerning serving and Retired Govt Personnel, as such, do heavily bank upon inputs from our readers. Kindly do add, comment and give your observations on this or any other post aimed at improving the posted contents for the benefit of the veterans community. 2. Kindly post these under the comments, we will much appreciate your contribution in this regard. 3. In order to avoid spam and unwarranted or mischievous posts, only such entries will get published where the Person has given his RANK, NAME @ EMAIL ID at the end of his/her text. 4. We will do our best to post our response as quickly as possible after getting the facts vetted from offrs, JCOs and men who are more knowledgeable on particular subject. With best wishes Sincerely yours, Brig Narinder Dhand (Veteran) ******************************************** |
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