Here we are going to tell you about the pension calculators 2021 through which you can easily calculate your pension. However, through the calculators, the pensioners of federal, Punjab, KPK, Balochistan, Sindh, and GB will be able to calculate who retired on/after 01 July 2021. Below are the details so, read the article carefully.
Pension Calculator 2021
Those employees who retired on 01 July 2021 can calculate their pensions by the following basic things.
- Basic pay
- Service duration
- Age on retirement
Basic Pay
The candidates will add the basic pay according to the LPC. Those candidates who retired on 01 June 2021, if after, will add one increment equal to the annual increment. Because they have completed six months of service on 01 June 2021 on particular basic pay, thus, the annual increment is for those who retire between 01 June to 30 November.
Service Duration
Service duration (the length of service) is also required to calculate the pension. However, the maximum length for the service is 30 years. If an employee has more than 30 years of service duration, then they will add 30 years, not above this. Below are some examples to calculate the service length.
- 26 years 7 months = 27 years
- 24 years 5 months = 24 years
- 40 years 6 months = 30 years
- 32 years 9 months = 30 years
Age on Retirement
For the pension calculation, we use the age rate in the calculation sheet instead of age. Thus, to aff the age rate, we use this method; if a person’s age is one day above his/her birth date, then the age rate will be off next year. For example, the age of a person is 30 years and five days; then, the age rate will be 31 years.
Increase of pensions during previous years
Here we will see the increments in a pension that pensioners receive during the previous years.
- 15% in 2011
- 7.5% in 2015
- 10% in 2016
- 10% in 2017
- 10% in 2018
- 10% in 2019
- 10% in 2021
- 25% BPS 01-15, 20% BPS 16 and above
- 25% increase in medical allowance
