Noman has just completed 15 years out of 30 years of reckonable service with a basic pay
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Question:
Noman has just completed 15 years out of 30 years of reckonable service with a basic pay as Rs. 100,000 as on May 1, 2020 whereas your company has decided to convert the post retirement benefit scheme into defined contribution scheme w.e.f. May 1, 2020. Noman intends to avail this scheme when he would complete 20 years of reckonable service. Calculate his pensionable corpus projection when annuity factor is 124.59669 (the rate as on April 30, 2020).
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