Is a retired individual who returns to work in an entity associated with the GPSSA held accountable at the end of his/her service period on the basis of previous and subsequent periods of service?
Last Updated
21/08/2024 08:53
Yes, he/she can add his/her previous service period for which he/she received pension, to his/her new service period according to the following conditions:
- Submit an additional application within one year from the date by which he/she returned to work.
- His/her age should not be more than 55 years upon returning to work.
- The period, which may be added, includes the actual service period and the nominal service period purchased.
- The entire service period is to be added.
- Pension payment shall be discontinued from the date of returning to work, with the exception to those who may combine their pension and salary.
- Payment of purchase cost at the rate of 20 percent x the difference between the pension calculation salary and the contribution calculation salary on the date of submitting the application x the combined service period added in months.
- The joining cost shall be paid in one lot or in installments not less than quarter of the contribution calculation salary provided that the installment period does not extend beyond the date of the insured service period or the date by which the insured turns 60 years old, whichever comes first.
- The previous service period during which the insured received a pension is to be added without the additional cost of the contribution calculation salary on the date of submitting the additional application, which is equal to or less than the amount of the previous pension.
- His/her age should not be more than 55 years upon returning to work.
- The period, which may be added, includes the actual service period and the nominal service period purchased.
- The entire service period is to be added.
- Pension payment shall be discontinued from the date of returning to work, with the exception to those who may combine their pension and salary.
- Payment of purchase cost at the rate of 20 percent x the difference between the pension calculation salary and the contribution calculation salary on the date of submitting the application x the combined service period added in months.
- The joining cost shall be paid in one lot or in installments not less than quarter of the contribution calculation salary provided that the installment period does not extend beyond the date of the insured service period or the date by which the insured turns 60 years old, whichever comes first.
- The previous service period during which the insured received a pension is to be added without the additional cost of the contribution calculation salary on the date of submitting the additional application, which is equal to or less than the amount of the previous pension.
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