Schedule [See Section 2(1)] Rate of Pension

Period Rate of Pension per mensem (`) For any period below two years 8,000 For two years in the aggregate 8,000 For three years in the aggregate 12,000 For four years in the aggregate 16,000 For five years in the aggregate 20,000 Provided that where any person has served as a member as stated in sub-section (1) of section 2 for a period exceeding five years, there shall be paid to him an additional pension of one thousand rupees per mensem for every year in excess of five years: 1 Substituted by Act 9 of 2018. Provided further that in calculating the net qualifying period for pension, fraction of half year and above shall be rounded to the next completed year: Provided also that the Ex-members may be paid an additional pension of rupees three thousand per mensem on completion of seventy years of age, rupees three thousand and five hundred per mensem on completion of eighty years of age: Provided also that the maximum pension to which a member is eligible under this Act shall not, in the aggregate, exceed rupees fifty thousand per mensem.]