Top 50+ Solved Retirement, Retirement Benefits, Pention, Provident fund and Gratuity, New Pension scheme MCQ Questions Answer

From 16 to 30 of 31

Q. Pension given to an officer who retires at the prescribed age is

a. Prescribed pension

b. superannuation pension

  • b. superannuation pension

Q. Compensatory pension is granted to an officer

a. who had an accident that left him unable to continue his duty as a government servant

b. who is not efficient in his work as a government servant that disrupts the prestige of the organization

  • c. whose permanent post is abolished and the government cannot provide an alternate post

Q. A public servant can take Voluntary Retirement if he has completed

a. 35 years of service

b. 25 years of service

  • b. 25 years of service

Q. When an employee is retired at reaching a fixed age of 60 as it is in India it is

a. Necessary Retirement

b. Valid Pension

  • c. Compulsory Retirement

Q. Compassionate Allowance is when an employee was dismissed or removed from service,

a. he is entitled full pension, that will be released to him after the government has done necessary procedure

b. he is not entitled to any pension benefits, but maybe sanctioned a compassionate allowance

  • b. he is not entitled to any pension benefits, but maybe sanctioned a compassionate allowance

Q. Invalid Pension is granted if an employee retired on being

a. declared unfit for further service by the competent medical authority

b. avoiding official duties too many times

  • a. declared unfit for further service by the competent medical authority

Q. Provident Fund is a mechanism to protect the public servant after retirement, with the purpose of

a. making them feel secure while they are in service

b. providing a compulsory saving out of the current income of the employee

  • b. providing a compulsory saving out of the current income of the employee

Q. A certain amount of the basic salary is compulsorily deducted from the employee’s salary and is utilize for

a. helping the less fortunate people in the country

b. helping other employees who are suffering from serious illness

  • c. development projects in the country

Q. Provident Fund is received at retirement in a

a. lump sum

b. half yearly

  • a. lump sum

Q. There are two major types of Provident Fund, General Provident Fund and

a. Public Servant Provident Fund

b. Civil Service Provident Fund

  • c. Employee’s Provident Fund

Q. Gratuity is a lump sum payment made based on the total service of an employee

a. either on retirement or death

b. while he is still in service as a bonus

  • a. either on retirement or death

Q. Gratuity is paid only to employee who complete

a. 10 years of service

b. 15 years of service

  • c. 5 years of service

Q. Death Gratuity is a one-time lump sum benefit payable to the

a. the nominee or family member of a government servant dying in harness

b. team mate of the deceased employee

  • a. the nominee or family member of a government servant dying in harness

Q. New Pension Scheme (New Pension Scheme), is launched on

a. 1st January 2014

b. 1st January, 2004

  • b. 1st January, 2004

Q. Under NPS the individual contribute to his retirement account there is

a. no defined benefit that would be available at the time of exit from the system

b. fixed amount that would be available anytime the employee wants to exit

  • a. no defined benefit that would be available at the time of exit from the system
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