ups_00741 — Delayed payment of retiral benefits counts for simple interest at 12% per annum In this case, the Applicant was punished with reduction of pay for three years vide Order, dated 12-2-2015 before his date of retirement on 28-2-2015. Hence, his retiral benefits should have been granted atleast within three months after his retirement which led to the interest on delayed payment in this case

Delayed payment of retiral benefits counts for simple interest at 12% per annum In this case, the Applicant was punished with reduction of pay for three years vide Order, dated 12-2-2015 before his date of retirement on 28-2-2015. Hence, his retiral benefits should have been granted atleast within three months after his retirement which led to the interest on delayed payment in this case — This chunk discusses the delay in payment of retirement benefits and the calculation of simple interest on delayed payment due to the respondents' negligence, as per Rule 68 of CCS (Pension) Rules, 1... — Facts: Applicant submitted that the delayed payment of his retirement benefits such as gratuity, leave encashment should be given interest at 12% as the delay is due to carelessness of Respondents. Further he stated that interest is payable under Rule 68 of CCS (Pension) Rules. The authorities who had committed lapse in the delayed payments are also required to be fixed. Other details are not very important. Hence the Tribunal finally held.