Service pension calculation Main points
Date of retirement: This is a significant factor, as different rules may apply depending on your retirement date, especially for government employees.
Basic Pay/Pensionable Salary: Your final or average pay is a primary input for the calculation.
Qualifying Service: The total years of service are crucial. Some calculators consider “net service,” while others consider total service months divided by 12.
Other factors: Additional inputs for specific calculators can include date of birth, contribution amount, and expected annuity rate.
SERVICE PENSION TEST
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Response Sheet
The Andhra Pradesh service pension formula is: (Last Drawn Basic Pay x Total Qualifying Service) / 66. This formula is used to calculate the monthly service pension for government employees upon retirement.
- Last Drawn Basic Pay: The basic pay the employee was receiving in their last month of service.
- Total Qualifying Service: The total number of years the employee is eligible to have their pension calculated on.
- Divisor: The number 66 is the divisor in the formula.
66