Age of Work
Current Age
= Retirement Calculation
The period of participation in the insurance
>>The method of calculating predict pension<<
§ Formula
Average Wage x Years of Service / 50 = Expected Pension
= Example
An employee was born on May 3, 1955. His /Her service ended on Dec 31, 2006. The average wage which was subjected to insurance during the last two years is equivalent to 550 BD. His /Her participation has reached 25 years. What is the amount of pension due to him/her?
§ Workout
550 BD x 25 / 50 =275 BD
§ What percentage of the reduction assessed on Pension?
|
Reduction Percentage |
End of service age |
|
20 % |
Less than 45 years |
|
15 % |
From 45 to less than 50 |
|
10 % |
From 50 to less than 55 |
|
Null |
From 55 and above |
>>The method of calculating the Pension reduction ratio<<
§ Example
Expected Pension- 10%
275 - 10% = 247.500 BD
§ Monthly reword
|
Monthly reword |
salary |
|
150 BD |
150-700 BD |
|
125 BD |
701-1500 BD |
|
75 BD |
1500-4000 BD |