Company : Sol Infotech Pvt. Ltd. Website : www.courtkutchehry.com GENERAL INSURANCE (EMPLOYEES') PENSION SCHEME, 1995 CONTENTS CHAPTER 1 :- PRELIMINARY 1. Short title and commencement 2. Definitions CHAPTER 2 :- APPLICATION AND ELIGIBILITY 3. Application 4. Option to subscribe to the Provident Fund CHAPTER 3 :- FUND 5. Constitution of the Fund 6. Liability of the Provident Fund Trust 7. Composition of the Fund 8. Board of Trustees 9 . Trustees to carry out the directions of the Corporation or a Company 10. Books of accounts of the Fund 11. Actuarial investigation of the Fund 12. Investment of Fund 13. Payment out of the Fund CHAPTER 4 :- QUALIFYING SERVICE 14. Qualifying service 15. Commencement of qualifying service 16. Counting of service on probation 17. Counting of period spent on leave 18. Broken period of service of less than one year 19. Counting of period spent on training 20. Counting of past service in the erstwhile insurer 21. Period of suspension 22. Forfeiture of service 23. Period of deputation to foreign service 24. Military Service 25. Period of deputation to an organisation in India 26. Addition to qualifying service in special circumstances 27. Condonation of interruption in service 28. Counting of service rendered on permanent part-time basis in certain cases CHAPTER 5 :- CLASSES OF PENSION 29. Superannuation Pension 30. Pension on voluntary retirement 31. Invalid Pension 32. Compassionate Allowance 33. Payment of pension or family pension in respect of employees who retired or died between 1st January, 1986 and 31st October, 1993 CHAPTER 6 :- RATE OF PENSION 34. Amount of Pension 35. Minimum Pension 36. Dearness Relief 3 7 . Determination of the period often months for average emoluments CHAPTER 7 :- FAMILY PENSION 38. Family Pension 39. Period of payment of family pension CHAPTER 8 :- COMMUTATION 40. Commutation CHAPTER 9 :- GENERAL CONDITIONS 41. Pension subject to future good conduct 42. Withdrawal or withdrawal of Pension 43. Conviction by Court 44. Pensioner guilty of grave misconduct 45. Provisional Pension 4 6 . Commutation of pension during departmental or judicial proceedings 4 7 . Recovery of Pecuniary loss caused to the Corporation or a Company 48. Recovery of dues of the Corporation or a Company 49. Commercial employment after retirement 50. Nomination 51. Date from which pension becomes payable 52. Currency in which pension is payable 53. Manner of payment of pension 54. Power to issue instructions 54A. Power to Relax 55. Residuary provisions GENERAL INSURANCE (EMPLOYEES') PENSION SCHEME, 1995 In exercise of the powers conferred by Sec. 17-A of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972), the Central Government hereby makes the following scheme, namely:- CHAPTER 1 PRELIMINARY 1. Short title and commencement :- 2. Definitions :- CHAPTER 2 APPLICATION AND ELIGIBILITY 3. Application :- 4. Option to subscribe to the Provident Fund :- CHAPTER 3 FUND 5. Constitution of the Fund :- 6. Liability of the Provident Fund Trust :- 7. Composition of the Fund :- 8. Board of Trustees :- 9. Trustees to carry out the directions of the Corporation or a Company :- 10. Books of accounts of the Fund :- 11. Actuarial investigation of the Fund :- 12. Investment of Fund :- 13. Payment out of the Fund :- CHAPTER 4 QUALIFYING SERVICE 14. Qualifying service :- 15. Commencement of qualifying service :- 16. Counting of service on probation :- 17. Counting of period spent on leave :- 18. Broken period of service of less than one year :- 19. Counting of period spent on training :- 20. Counting of past service in the erstwhile insurer :- 21. Period of suspension :- 22. Forfeiture of service :- 23. Period of deputation to foreign service :- 24. Military Service :- 25. Period of deputation to an organisation in India :- 26. Addition to qualifying service in special circumstances :- 27. Condonation of interruption in service :- 28. Counting of service rendered on permanent part-time basis in certain cases :- CHAPTER 5 CLASSES OF PENSION 29. Superannuation Pension :- 30. Pension on voluntary retirement :- 31. Invalid Pension :- 32. Compassionate Allowance :- 33. Payment of pension or family pension in respect of employees who retired or died between 1st January, 1986 and 31st October, 1993 :- CHAPTER 6 RATE OF PENSION 34. Amount of Pension :- 35. Minimum Pension :- 36. Dearness Relief :- 37. Determination of the period often months for average emoluments :- CHAPTER 7 FAMILY PENSION 38. Family Pension :- 39. Period of payment of family pension :- CHAPTER 8 COMMUTATION 40. Commutation :- CHAPTER 9 GENERAL CONDITIONS 41. Pension subject to future good conduct :- 42. Withdrawal or withdrawal of Pension :- 43. Conviction by Court :- 44. Pensioner guilty of grave misconduct :- 45. Provisional Pension :- 46. Commutation of pension during departmental or judicial proceedings :- 47. Recovery of Pecuniary loss caused to the Corporation or a Company :- 48. Recovery of dues of the Corporation or a Company :- 49. Commercial employment after retirement :- 50. Nomination :- 51. Date from which pension becomes payable :- 52. Currency in which pension is payable :- 53. Manner of payment of pension :- 54. Power to issue instructions :- 54A. Power to Relax :- 55. Residuary provisions :-