The Central Government on 26th July, 2023 has issued the General Insurance (Employees’) Pension (Amendment) Scheme, 2023. The amendment provides that if a pensioner who, immediately before his retirement was holding the post of Deputy Manager or above and wishes to accept any commercial employment before the expiry of one year from the date of his retirement, he shall obtain the previous sanction of competent authority, to such acceptance:
If any pensioner takes up any commercial employment at any time before the expiry of one year from the date of his retirement without the prior permission of competent authority, or commits a breach of any condition subject to which permission to take up any commercial employment has been granted to him under this paragraph, it shall be competent for competent authority to declare by order in writing and for reasons to be recorded therein that he shall not be entitled to the whole or such part of the pension.
