๐ฏ What is Old Age Allowance?
Old Age Allowance (OAA) is an additional pension granted to retired government employees after attaining specific age milestones. As pensioners grow older, they are eligible for an increasing percentage of their basic pension as OAA, recognizing their advanced age and increasing needs.
๐ Old Age Allowance Rates
As per Punjab Government rules, the following additional pension (OAA) rates are applicable based on age:
Age of Pensioner | Additional Pension (OAA) |
---|---|
65 years & above | 5% of Basic Pension |
70 years & above | 10% of Basic Pension |
75 years & above | 15% of Basic Pension |
80 years & above | 25% of Basic Pension |
85 years & above | 35% of Basic Pension |
90 years & above | 45% of Basic Pension |
95 years & above | 55% of Basic Pension |
100 years & above | 100% of Basic Pension |
๐ Note: Dearness Allowance (DA) is also admissible on the Old Age Allowance.
๐งฎ Try Our Free Old Age Allowance Calculator
You can easily calculate your Old Age Allowance using the tool below. Enter your Basic Pension, Date of Birth, and optionally an “As On” date (default is today). The calculator will show your age, OAA rate, OAA amount, and total pension.
๐ Try it now:
Old Age Allowance Calculator
โ๏ธ How It Works
The calculator determines your age as on the first day of the current month (or chosen “As On” date), as per pension rules. Based on this age, it applies the corresponding OAA percentage to your basic pension.
For example:
- If your age is 80 years, and your basic pension is โน30,000:
- OAA = 25% of โน30,000 = โน7,500
- Total Pension = โน30,000 + โน7,500 = โน37,500 + DA
๐ Key Points to Remember
- The OAA is in addition to your basic pension.
- DA is applicable on the full amount, including OAA.
- If you cross a qualifying age mid-month, the increased OAA is applicable from the 1st of the month.
- You must enter correct Date of Birth to get accurate results.
๐ Related Tools
- Leave Encashment Arrears Calculator (2016โ2021)
- Gratuity Calculator
- Net Qualifying Service Calculator
๐ฌ Need Help?
For queries, contact us at punjabcivilrules@gmail.com
You can also watch the Videos on our YouTube Channel ๐ PSPCLNEWS