How is the additional cost for merging service periods paid? Can it be settled through installments to the GPSSA?
Last Updated
21/08/2024 08:52
The amount can be paid all at once (or) can be paid in installments as follows:
- Via a cash payment equal to the amount of the end-of-service gratuity for the period requested. The value of the award is then deducted from the total cost.
- The remaining joining cost is to be paid in monthly installments not less than a quarter of the insured’s monthly salary, provided that the installment period does not exceed four years or the insured is not over 60 years old, whichever comes first.
- The insured individual submits an acknowledgment to the GPSSA to deduct the registration payment from his monthly salary until full payment and a clearance is obtained by the GPSSA.
- If the service of the insured ends without paying the full amount, the additional period is calculated in proportion to the amounts already paid.
- The insured’s requirement to pay registration fees is forfeited in the event of termination of his/her service due to death, given that he/she has paid 50 percent of the remaining amount.
- The remaining joining cost is to be paid in monthly installments not less than a quarter of the insured’s monthly salary, provided that the installment period does not exceed four years or the insured is not over 60 years old, whichever comes first.
- The insured individual submits an acknowledgment to the GPSSA to deduct the registration payment from his monthly salary until full payment and a clearance is obtained by the GPSSA.
- If the service of the insured ends without paying the full amount, the additional period is calculated in proportion to the amounts already paid.
- The insured’s requirement to pay registration fees is forfeited in the event of termination of his/her service due to death, given that he/she has paid 50 percent of the remaining amount.
