In Indian Railways,
Superannuation (Normal Retirement) will be at age of 60 years.
Every Railway employee will retire in the same month at which he crossed 60 years.
Following are some of the benefits on Superannuation for Indian Railway Employee :
- Provident Fund (PF) or National Pension Scheme (NPS)
- Retirement Gratuity
- Commutation of Pension (Optional)
- Group Insurance (CGIS)
- Leave Encashment
- Composite Transfer Grant
- Post Retirement Complimentary Passes
- Railway Employees Liberalized Health Scheme (RELHS)
- Gold Plated Silver Medal
Other Facilities after Retirement :
- Holiday Homes
- Rest House (For Officers)
In relating to Commutation, employee can opt between 0 to 40% pension amount in advance and the every month commutation percentage (% optional) amount will be deducted for a period of 15 years.
It is compulsory option for every employee to select RELHS at the time of retirement. For this purpose, last month salary will be deducted from Railway Employee. In relating to RELHS, retired employee can opt any one of the following :
- All Medical facilities at Railway Hospital.
- He/she can opt for Rs.1000 per month instead of medical facilities.
For RELHS Condition Apply:
- After Retirement, employee must stay more than 2.5 Kms away from railway Hospital to opt for Rs.1000.
- The one who get Rs.1000 can go Medical Facility can go for Railway Hospitals only for major Diseases like Cancer etc.
- All the employees who stay with in 2.5 Kms from Railway Hospital must be given Medical Facility only.