COMPONENTS OF THE RSA:
- The 7.5% monthly deduction of basic, rent (housing) and transport allowance from the employee’s salary plus the accrued interest.
- The 7.5% monthly contribution by the state Government/employer plus accrued interest
- The additional voluntary contribution if any, by the employee to boost the contributions towards providing comfort in retirement.
- The accrued pension rights made up of pension rights and gratuity benefits of all eligible employees in service before 1st April 2007.
- A death benefit of a minimum of 320% of annual total emolument. This is paid into the RSA of employees who die in service and is otherwise called a survivor benefit.