The last salary received by the bank employee will be increased by 30% as family pension. With this step of the government, the bank employee’s family will benefit from Rs 30,000 to Rs 35,000 more.
The government has taken a big decision regarding the family pension of bank employees. Now the family pension of such employees has been increased to 30 percent. Now 30% more family pension will be available as compared to the previous pension. With this, 14% more amount will be deposited in the National Pension Scheme (NPS) on behalf of government bank employees. On behalf of the employees, this money is deposited in the bank NPS.Also Read: UIDAI: Aadhar card holders will not get the benefit of these two facilities, know what will be the effect on you
With this announcement of the government, the family of the bank employees has got a big relief. The demand for increasing the family pension was being made for a long time. For this, a proposal was made by the Indian Banking Association to the government, which has been accepted. The last salary received by the bank employee will be increased by 30% as family pension. With this step of the government, the bank employee’s family will benefit from Rs 30,000 to Rs 35,000 more. That is, the family pension which a family used to get earlier, will increase by 30-35 thousand rupees.
Announcement made in meeting with banks
This move of the government was announced in Mumbai on Wednesday. This was announced by the Secretary, Department of Finance, Ministry of Finance. Union Finance Minister Nirmala Sitharaman held a meeting with representatives of public sector banks through online conferencing on Wednesday. During this meeting, it was announced to increase the family pension.Also Read: ICICI launches ICICI direct markets app know all about it
How much pension will you get now?
Till now, family pension was given to bank employees under three slabs. This includes 15 percent, 20 percent and 30 percent slabs. This slab was fixed according to the last salary. Its maximum limit was kept limited to Rs 9,284. Now this limit has been removed. Only 30% slab has been made valid for all employees. With this, the money deposited in the NPS of bank employees has also been increased in advance. It has been increased by 14 percent. Earlier the contribution amount in NPS was 10% but now it has been increased to 14%.
DA has already been decided
Earlier this month, it was announced to increase the dearness allowance of bank employees and pensioners. The increased amount of DA will be available from the month of August. The period of DA will be from August to October. DA has been increased under the 11th BPS salary structure. In the last quarter, the DA of bank employees was increased by 2.1%, which has increased to 27.79 percent. Under the 10th bps, the DA of bank employees was increased by 3 percent compared to the previous quarter. This decision will benefit 8 lakh employees of the bank. This will increase the net salary of the employees. Its benefit will also be seen on the basic salary.Also Read: These facilities are available with tax exemption in PPF, know about your benefits
Why is dearness allowance given?
The DA of government and bank employees is a part of the salary. This helps in reducing the effect of inflation. DA is calculated on the basis of Consumer Price Index. In case of bank employees, DA is revised every quarter. DA is directly related to the cost of living, so it is decided according to the cities. It is fixed separately for urban, semi-urban and rural areas. DA is given to the employees so that they can reduce the effect of inflation going on in a financial year.Also Read: GST officials arrest two more in ITC fraud of Rs 176 crore
