- 'Pensionable service' means -
(i) the two-third of the period of actual service rendered by an employee from the date of opting for the Coal Mines Family Pension Scheme, 1971 and up to the 31 st day of March, 1989, except the period for which no contribution has been made to the Family Pension Fund, and
(ii) the actual service rendered by an employee from the 1st day of April, 1989 or the date of joining the service whichever is later, to the date of retirement or the death in service except the period for which no contribution has been made to the Family Pension fund or the Pension fund, as the case may be. I Corrigenda No. GSR 269(E) dated the 25th May 1998. II Notification No. GSR 108(E) dated 13th February 2003.
- 'Provident Fund Scheme' means the Coal Mines Provident Fund Scheme, 1948, the Andhra Pradesh Coal Mines Provident Fund Scheme, 1956 and the Rajasthan Coal Mines Provident Fund Scheme, 1958;
- 4 'Retirement' in relation to an employee who is a member of the Pension Scheme means exit of an employee on completion of 10 years of Pensionable service.
- 'Salary' means the monthly emoluments based on which the contribution to the fund is deducted every month.
- 'Schedule' means the Schedule annexed to the Scheme
- 'Section' means section of the Act.
- 'Superannuation' in relation to an employee who is a member of the Pension Scheme means the attainment by the said employee of such age as is fixed in the contract or conditions of service as the age on the attainment of which such employee shall vacate the employment,
- 'Year' means the period of twelve months from the first day of April of the year to the thirty-first day of March of the following year; and
- all other words and expressions used herein and not defined but defined in the Act, shall have the meanings respectively assigned to them in the Act.
ESTABLISHMENT OF THE PENSION FUND
From the appointed day the Pension Fund shall stand established which shall have the sole purpose the provision of the payment of pension in accordance with the Scheme to the employee or his family or the payment of any amount which may have accrued under the provisions of the Coal Mines Family Pension Scheme, 1971 immediately before the appointed day. The Pension Fund shall consist of the following :
- net assets of the Coal Mines Family Pension Scheme, 1971 as on the appointed day
- an amount equivalent to two and one-third percent of the salary of the employee, being the aggregate of equal shares of the employee and the employer from their respective contributions to the Fund, to be transferred from the appointed day from the fund of the employee.
- an amount equivalent to two percent of the4Basic and dearness allowance paid of the employee from the first day of April, 1989 or the date of joining, whichever is later, up to the 31st day of March, 1996 and two percent of the notional salary of the employee from the first day of April, 1996 or the date of joining, whichever is later, to be transferred from his salary.
- an amount equivalent to one increment to be calculated on the basis of the salary of the employee as on the first day of July, 1995 or the date of joining, whichever is later, to be transferred from the first day July, 1995 or the date of joining, whichever is later, to be transferred from the salary of the employee.
- An amount equivalent to one and two-third percent of the salary of the employee to, be contributed by the Central Government from the appointed day :
4 Notification No. GSR 689(E) dated 29th August 2000. COAL MINES PENSION SCHEME - 1998
Provided that in the case of an employee whose salary exceeds rupees one thousand six hundred per month, the contribution payable by the Central Govt. shall be equal to the maximum of the amount payable on the salary of rupees one thousand six hundred per month only;
- amounts to be deposited in terms of the provisions of the proviso of paragraph 4.
ELIGIBILITY FOR PENSION
(1) An employee who was a member the Coal Mines Family Pension Scheme, 1971 immediately before the appointed day and has not attained the age of superannuation shall be deemed to be eligible for pension under the provisions of this Scheme from the appointed day.
(2) An employee who has not opted for the Coal Mines Family Pension Scheme, 1971 but is covered by the Provident Fund Scheme, may opt for pension under the provisions of this Scheme within a period of*three hundred and sixty six days from the appointed day and he shall be deemed to have become the member of the Scheme from the date of his exercising the option in Form P.S.-l :
5Provided that an employee exercising the option under the provisions of this sub-paragraph shall have to deposit in the Pension Fund either in cash or by way of deduction in installments from his monthly salary or by transfer from his Provident Fund account to the Pension Fund, the arrears equivalent to the amounts specified in clauses (b),(c), (d) and (e) of paragraph 3, along with interest from the first day of March, 1971 till the date of exercising the option in respect of arrears,-
(i) specified in clause(b), at the rate admissible from time to time to the monies in Coal Mines Provident Fund;
(ii) specified in clauses(c) and (d), at the rate of twelve per cent per annum; and
(iii) specified in clause(e), at such rate as the Central Government, from time to time, credited interest in respect of its contributions to the Coal Mines Family Pension Scheme, 1971.