13. Options for return of capital.- (1) A member eligible to pension may, in lieu of pension normally admissible under paragraph 12 subject to commutation of pension, if any, under paragraph 12A, opt to draw for reduced pension and avail of return of capital under any one of the three alternatives given below :— Sl. No. | Alternatives | Revised pension payable | Amount payable as return of capital | (1) | (2) | (3) | (4) | 1. | Revised pension during life time of member with return of capital on his death. | 90 per cent of original monthly pension. | 100 times the original monthly pension on death of member to the nominee. | 2. | Revised pension during the life time of member, further reduced pension during life time of the widow or her remarriage, whichever is earlier, and return of capital on widow’s death/remarriage. | 90 per cent of original monthly pension to the member. On his death 80 per cent of the original monthly pension to the widow. | 90 times the original monthly pension on death of widow/remarriage to the nominee. | 3. | Pension for a fixed period of 20 years notwithstanding whether the member lives for that period or not. | 87.5 per cent of the original monthly pension for a fixed period of 20 years. The pension will cease thereafter. | 100 times the original monthly pension at the end of 20 years from the date of commencement of pension to the member if he is alive, otherwise to his nominee. |
Explanation 1.— In alternative 2, if the spouse dies or remarries before the death of member, capital equal to 90 times the original monthly pension shall be paid to the nominee on the member’s death. Explanation 2.— In alternative 3, if the member dies before the end of 20 years period, the pension shall be paid to his nominee for the balance period. Explanation 3.— In the case of a member who is eligible for permanent total disablement pension, and where the payment of such pension is to commence before his attaining the age of 50 years, the options shall also be admissible but in such cases the actual pension payable shall be reduced by 1 per cent and the return of capital shall be further reduced by Rs. 1,000 for every year by which the age at the commencement of pension falls short of 50 years. Explanation 4.— In cases of exercise of option for commutation under paragraph 12A, balance monthly pension payable after commutation shall be deemed to be the original monthly pension for the purpose of this paragraph. (2) The option under sub-paragraph (1) shall be exercised by the member at the time of submission of the application form for pension in accordance with the provisions of this Scheme. The option once exercised shall be final. If no option is exercised, the member shall be deemed not to have exercised any option under this paragraph and his/her pension shall be determined under the provisions of paragraph 12. (3) Notwithstanding that the capital is returned under this paragraph the widow/children shall continue to be eligible for normal widow pension/children pension/orphan pension under paragraph 16 of this Scheme from the date immediately following the date of death of the member | 
