The pension amount is paid from the Government on a monthly basis after the retirement of any employee with a minimum of 25 years of service. Now we will learn how to calculate and make the pension calculator formula 2022 without any unique technique. If you are working as a government employee, you must have sufficient knowledge to check how much you will get the pension after completion of service at the time of retirement. I will provide you with all the information that is undoubtedly valuable for you to create a pension calculation. There are different formulas to calculate the total pension by using Basic Pay, total service, age factor, and age rate.
Pension Calculator 2022 – Online Formula Guru
If you are serious about finding out the formula of calculating pension for any Government employees working in Federal, Punjab, Sindh, KPK, Balochistan, or armed forces of Pakistan. The most important factors of pension calculators are given below;
Pension Calculator Formula Modes 2022:
- Basic Pay
- Length of Service
- Age of Employee
- Age Rate
Calculate Basic Pay Through Pension Calculator 2022
The calculation of pension calculator is made based on the last basic pay. If any employee gets retired after 1st June, one more year will be added to the basic pay scale. If you are already drawing a special allowance, it would also be included in the basic pay.
Basic Pay: Last Basic Pay + Special Allowance [Post Allowance, Personal Pay, Usual Increment after 1st June]
Also Check:
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Notification of Grant of Family Pension To Eldest Family Member 2022
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Guidelines Regarding Submission of Family Pension Cases 2022
Calculate Total Service Through Pension Calculator 2022
The length of service is always calculated in the number of years. If you want to retire after 26 years, then 26 is the main factor used to determine the pension calculator formula.
If you are retired after 26 years and 6 months, your service length will be 27 years. But, If your total service is 26 years and 5 months, then only 26 years will be counted, and 5 months are not added in the pension calculation formula.
Total Service: Number of Years [If the service is 6 months or more than full year will be count]
Calculate Employee’s Age Through Pension Calculator 2022
If you want to calculate the commute of pensioner, it is of utmost importance to know the employee’s age. The term “Age on Next Birthday” is used, which means the age will be calculated for pension depending on the birth date after retirement.
For example, if any employee is retired at 47 years and 03 months, then the calculation pension will be counted as 48 years. It means that the employee’s age will be used as 48 for the calculation of the pension formula.
Calculate Age Rate Through Pension Calculator 2022
The term “Years Purchase” is used to calculate the commute pension because the pension amount will be calculated according to the age rate. The Government of Pakistan has issued the age rate. The rate of age will be given according to the age of the employee. The age rate chart will be provided according to the Revised Pay Scale 2001 underlying;
|
Age on Next Birthday |
Years Purchased |
|
20 |
40.5043 |
| 21 |
39.7341 |
|
22 |
38.9653 |
| 23 |
38.1974 |
|
24 |
37.4307 |
| 25 |
36.6651 |
|
26 |
35.9006 |
| 27 |
35.1372 |
|
28 |
34.3750 |
| 29 |
33.6143 |
|
30 |
32.8071 |
| 31 |
32.0974 |
|
32 |
31.3412 |
| 33 |
30.5869 |
|
34 |
29.8343 |
| 35 |
29.0841 |
|
36 |
28.3362 |
| 37 |
27.5908 |
|
38 |
26.8482 |
| 39 |
26.1009 |
|
40 |
25.3728 |
| 41 |
24.6406 |
|
42 |
23.9126 |
| 43 |
23.1840 |
|
44 |
22.4713 |
| 45 |
21.7592 |
|
46 |
21.0538 |
| 47 |
20.3555 |
|
48 |
19.6653 |
| 49 |
18.9841 |
|
50 |
18.3129 |
| 51 |
17.6526 |
|
52 |
17.0050 |
| 53 |
16.3710 |
|
54 |
15.7517 |
| 55 |
15.1478 |
|
56 |
14.5602 |
| 57 |
13.9888 |
|
58 |
13.4340 |
| 59 |
12.8953 |
|
60 |
12.3719 |
| 61 |
11.8632 |
|
62 |
11.3684 |
| 63 |
10.8872 |
|
64 |
10.4191 |
| 65 |
09.9639 |
|
66 |
09.5214 |
| 67 |
09.0914 |
|
68 |
08.6742 |
| 69 |
08.2697 |
|
70 |
07.8778 |
| 71 |
07.4983 |
|
72 |
07.1314 |
| 73 |
06.7766 |
|
74 |
06.4342 |
| 75 |
06.1039 |
|
76 |
05.7858 |
| 77 |
05.4797 |
|
78 |
05.1854 |
| 79 |
04.9030 |
|
80 |
04.6321 |
Pension Formula 2022
You can calculate the pension calculator formula 2022 with the below equation;
Gross Pension = 7 x Total Service x Last Basic Pay / 300
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I am really thankful for this great help in calculating pension.
Dear Ahmad Ali, your views are commendable
Great work
masha allah very best and helpfull for all the employees pakistan
Divide 300 its mean?
Sir,
I am pleased to know that you are doing a great service by giving the prospective retirees a proper guidance regarding the Pension Calculation.
One thing that I wish to know is that if a person’s length of service is 28 year and 8 months, then in calculating his Gross Pension whether we will put 28 or 29 in the formula for Gross Pension. The number 28 is clear because it shows the ‘completed years of service’ but if we use the number 29, then under what rule we will be using it. Yours kind guidance is sought in this regard.
ASIF KHAN.