Ans:
The pension can be availed of in two ways. You can request to receive the said amount at monthly intervals. This could be on a monthly, quarterly, or even a half-yearly basis. You can also be the recipient of the entire sum. When you choose to obtain the entire pension amount, it is referred to as commuted pension. When you prefer to receive the pension at the end of each month, it is referred to as an uncommuted pension. This is treated as a salary, and you are responsible for paying taxes on the said amount. There are various laws governing pensions. The government is attempting to smoothen the creases so that pensioners are able to enjoy optimal relief from taxes.