Many people consider that government jobs are better as compared to the private sector, due to security, stability, and post-retirement benefits.
The Pension is a post-retirement benefit for the government servants.
Many Indian Railway employee wants to commute the monthly Pension amount after the retirement. These officials/officers can exercise the choice within a year after the superannuation.
On Commutation of Pension, they will receive the lump-sum amount in advance, and the monthly Pension gets reduced to a certain level.
The following formula is to check 40% Pension commutation. You will come to know the lump-sum advance amount.
Apart from this, you can also check the reduced monthly Pension in Rupees.