Can I get3 increment in salary for Ph.D.as per 6 th pay in my following case.I am Prof ,retired on 31-7-15.Before that I registered for Ph D on 20-1-12 at N M U Jalgaon(M S) Completing sucesfuly researc work and necessary course work and exams, submitted Thesis on 3-7-14 to N M U for evaluation. But N M U took 18 months than expected 4-6 months for evaluation and my Ph.D.declared after conducting viva voce on 18-12-15.My Ph D declared 5 months later of my retirement, I am deprived of 3 increment benefits and subsequently pension benefits.I am not at fault for delay.What to do for justice.?

Ans: First, let me commend you for planning ahead for your retirement. Given your work history in India and abroad, understanding your pension can be complex. Let's break it down to make it simple and clear.

Eligibility for Pension
You mentioned working in a private company in India from 1991 to 2007. The Employees' Pension Scheme (EPS) of 1995, managed by the Employees' Provident Fund Organisation (EPFO), would cover this period. To be eligible for a pension under EPS, an employee must complete at least 10 years of service and attain the age of 50 for early pension or 58 for regular pension.

Service Period Calculation
You have worked in India for 16 years (1991 to 2007). This makes you eligible for the EPS pension since you meet the minimum requirement of 10 years.

Pension Calculation Method
The EPS pension is calculated based on the pensionable salary and the number of years of service. The pensionable salary is the average of the last 60 months of basic salary and dearness allowance (DA).

Understanding Pensionable Salary
From your information:

Basic Salary: Rs. 8,510
Dearness Allowance (DA): Rs. 6,051
So, your pensionable salary would be the sum of your basic salary and DA.

Early Pension at Age 55
Since you are currently 53 and considering early pension at 55, there is a reduction factor applied. The pension amount is reduced by a percentage for each year before 58.

Additional Considerations
Inflation and Future Value
It is important to consider the impact of inflation on your pension amount. While the pension might seem sufficient now, its value will decrease over time due to inflation. You might want to explore other investment options to supplement your pension income.

Savings and Investments
Since you have worked abroad, you might have accumulated savings and investments there. It's essential to factor in these amounts when planning your retirement. Diversifying your investments can help ensure a stable and sufficient income during retirement.

Health Insurance
Make sure you have adequate health insurance coverage. Healthcare costs can be significant in retirement, and having insurance can protect you from unexpected medical expenses.

Planning for Retirement
Given your current age of 53, you have a few more years to plan and save for your retirement. Here are some steps you can take:

Assess Your Financial Situation
Evaluate your current savings and investments.
Calculate your future income needs, considering inflation.
Diversify Your Investments
Invest in a mix of low-risk and high-risk options.
Consider mutual funds for long-term growth.
Review Your Insurance
Ensure you have adequate health insurance.
Consider a term life insurance policy if you don't have one.
Create a Retirement Budget
Estimate your monthly expenses in retirement.
Include costs for healthcare, travel, and leisure activities.
Final Insights
Your pension from EPS will provide a basic level of income. However, considering inflation and future financial needs, it's crucial to have a diversified investment portfolio. Planning now will help ensure a comfortable and secure retirement.

Thank you for your detailed query. Your foresight in planning for retirement is admirable. By following these steps and regularly reviewing your financial plan, you can achieve a financially secure retirement.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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Ans: You have a strong case to argue that all 33 years of service should be counted for your retirement benefits, including gratuity and leave encashment. Here's what you can do:

Approach your University's HR Department:

Clearly explain your situation, highlighting the 10 years of temporary service followed by the uninterrupted 23 years of tenure-based service.
Emphasize that your employer never specified an end date for your temporary period, and your service transitioned seamlessly into a permanent role.
Refer to University Employment Rules:

Research the university's employment rules and regulations regarding temporary staff transitioning to permanent positions. These rules might mention how the service period is calculated in such cases.
Gather Evidence:

Collect any documents proving your continuous service for 33 years. This could include appointment letters, salary slips, identity cards, or any other documentation that reflects your employment period.
Consider Union Representation (if applicable):

If your university has a staff union, seek their guidance and representation. They might be familiar with similar cases and can help you navigate the process.
Legal Consultation:

If the university remains unresponsive, consider consulting a lawyer specializing in labor law. They can advise you on your legal rights and potential courses of action, such as filing a petition with a labor tribunal.
Key Points:

The continuous nature of your service for 33 years strengthens your case.
University employment rules might have specific guidelines for such situations.
Documentation and evidence are crucial to support your claim.
Explore union representation or legal consultation if necessary.
Remember, persistence and clear communication are key. By presenting a well-documented case and highlighting the continuous nature of your service, you can increase your chances of having all 33 years counted for your retirement benefits.