Section 3, **The Pensions and Retiring Benefits of Presidents and Vice-Presidents Act, 1986** [Margin: Short title.]

(1) A retired President who has held the office of President for a period not less than twelve months shall be entitled to a monthly pension computed on the basis of an amount equal to the annual basic salary of a President on the day he retired from that office. (2) A retired Vice-President who has held the office of Vice-President for a period not less than twelve months shall be entitled to a monthly pension computed on the basis of an amount equal to the annual basic salary of a Vice-President on the day he retired from that office. [Margin: Gratuity for retired President or retired Vice-President.]