India announces full pension for retirees with commuted pensions

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The Indian government recently announced that the full pension will be restored to pensioners who are members of the Employee Pension Scheme (EPS), retired on or before 25 Sep 2008, and opted to take the commutation pension option. An estimated 630,000 EPS members are now entitled to a full and therefore increased pension 15 years from their retirement.

Up until 25 Sep 2008, the EPS allowed a member to receive up to one-third of their pension entitlement as a lump sum, and the remaining two-thirds as a monthly pension payment.

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