Pension is payable to the Member for life but guaranteed at 15 years.
FAQs
Benefits are available to any member in accordance with the PPS Act.
Upon resignation or termination benefits will be paid out according to sections 12 and 13 of the PPS Act.
If the member has submitted all the requirements, it usually takes two weeks to effect payment.
When an active member dies, his nominated beneficiaries are paid the entire accumulated fund. In case the member was already a pensioner, the nominated beneficiaries continue to enjoy the deceased member’s pension for the reminder of the 15 year guaranteed period.
Once a member qualifies for Pension, he qualifies to get a lump sum payment of up to 33.33% of his accumulated benefit. The rest is used to purchase his/her annuity.
Pension is be paid to a member who retires or ceases to be a member on or after attaining forty-five years of age, subject to service as a member for a continuous period of ten years or more.
Enrollment into the Scheme takes place after either swearing in as a Member of Parliament/ Ex-official or getting employed as a Commission staff on permanent and pensionable terms and submitting duly completed Enrollment and Nomination forms to the Scheme.