Sail Pension Scheme
Download the Sail Pension Scheme in PDF format here. The pension scheme has been introduced with the approval of the Ministry of Steel & SAIL Board. Through the implementation of this pension scheme, pensions will be provided to the ex-employees of the concerned authorities belonging to the Ministry of Steel and Sailboard in the Government of India.
Executives (including Management trainees) on rolls of the Company on or after 01.01.2007 (including those appointed at the Board level). Non-executives (including trainees recruited for eventual employment) on rolls of the Company on or after 01.01.2012.
Sail Pension Scheme (Eligibility)
- Minimum 15 years of service and superannuation from the Company.
- Death/PTD/Medical invalidation leading to cessation of Service – irrespective of duration of service rendered
Sail Pension Scheme (Benefits)
- Only in the form of annuities from various annuity options from the approved Annuity Provider(s), on notional date of superannuation.
- Commutation of accumulated Corpus not permissible.
- In case of Death/PTD/Medical Invalidation, benefits to accrue on separation of employee from Company.
- Payment to start from date of purchase of annuity by employee/nominee.
- Annuity would depend upon the accumulated corpus of employee (both Employer and Employee contributions along with interest accrued) as per the Annuity Plan opted by him/her.
- It has been decided to empanel Annuity Providers as empanelled under NPS.
Sail Pension Plan – Download PDF
Download the Sail Pension Scheme in PDF format using the link given below.