Steel Authority of India Limited (SAIL) has introduced a Pension Scheme for its ex-employees. The Sail Pension Scheme has been issued under the guidelines of the department of public Enterprises of the Government of India and with the approval of the Ministry of Steel & SAIL Board. Steel Authority of India Limited (SAIL) is one of the largest steel-making companies in India and one of the Maharatna’s of the country’s Central Public Sector Enterprises. 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.
Highlights of Sail Pension Scheme
|Name||Sail Pension Scheme|
|Launched by||Ministry of Steel & SAIL Board|
Sail pension scheme Latest News
The SAIL produces iron and steel at five integrated plants and three special steel plants, located mainly in the eastern and central regions of India and is situated close to domestic sources of raw materials. SAIL manufactures and sells a broad range of steel products. This article provides you with complete information related to the Steel Authority of India Limited (SAIL) Pension Scheme. Read below to know more about the Pension Scheme like eligibility criteria, documents required, the application process, etc.
Sail Pension Scheme Contribution
For Executives: Effective from 1.1.2007
|Time Duration||Pension Contribution|
|1st Jan 2007 To 31st Mar 2015||9% of Basic Pay + DA|
|1st Apr 2015 To 31st Mar 2018||3% of Basic Pay + DA|
For Non-Executives : Effective from 1.1.2012
|Time Duration||Pension Contribution|
|1st Jan 2012 To 31st Mar 2015||6% of Basic Pay + DA|
|1st Apr 2015 To 31st Mar 2018||2% of Basic Pay + DA|
Applicants who are willing to apply for Pension Scheme need to check the following eligibility criteria. Before proceeding to fill up the registration form, make sure to check the required eligibility criteria given below. Read below to know the eligibility criteria:
- The candidate must have a minimum 15 years of service and annuity from the Company.
- Death/PTD/Medical invalidation leading to the cessation of Service – irrespective of the duration of service rendered
Applicants who are willing to apply for a pension Scheme need some important documents, make sure to keep them handy. Following are the documents needed by the applicant:
- Applicant’s PAN Card
- Aadhaar Card of the ex-employee/nominee
- Cancelled Bank Cheque having the name of the ex-employee/nominee printed on it
- Proof of deposit of Voluntary Contribution, if any.
- Death certificate of ex-employee/employee in case of deceased ex-employee/employee
Benefits of the Sail Pension Scheme
The benefits that are covered under this scheme are as follows: –
- 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.
- New entrants –
- after 1.1.2007 (Executives incl. Board level Officers)
- after 1.1.2012 (Non-executives) also covered from the date of their joining SAIL
Sail Pension Scheme Application Process
After fulfilling all the eligibility criteria, you can proceed further by filling your application form for the Pension Scheme. Read below to know the complete step by step process of filling up the application form.
- First of all. Go to the Official Website of this Scheme.
- Now on the Homepage of the website, search for the Sail Pension Scheme Option
- Click on Pension Scheme and the application form will be opened on your screen.
- Now enter all the required details like Applicants SAIL personnel number, PAN card number, Bank account number, E-mail ID, Mobile Number, Aadhaar number.
- Also, upload your photographs of and your spouse to complete the registration process.
- Finally, click on Submit option.
- Save the application form and take the printout of the form.
- Now Submit the printed Application Form along with all the required documents for the start of Annuity.
- The members/beneficiaries can view the details of the company contribution in their pension account, annuity plans, rates provided by the ASPs, pension calculator, scheme/policy, details of Nodal Officers of their Plant/Unit, etc. through the portal after logging in with the PAN and date of birth of the concerned ex-employee.
For further details or in case any query related to Sail Pension Registration Scheme, feel free to contact on the below provide Address and Fax:
- EPBAX – Ispat Bhavan – 24300100, 243 67481-86,
- EPBAX – Scope Minar- 22467360, 7412, 7413, 7418, 7420
- Fax: 24367015 (Ispat Bhavan)/ 22467458 (Scope Minar)
We hope that you will definitely find information related to the Sail Pension scheme beneficial. In this article, we have tried to answer all the questions you ask.
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