Family Pension: The new family pension will be Rs 10,791 for sub staff, Rs 24,474 for an officer and Rs 49,455 for a general manager-rank officer.
Family Pension: The Central Government has given its consent on an important issue raised by the banking fraternity, which will benefit 11 lakh bank employees of the country. His family pension has been increased by 30% from his last salary. This decision will be especially beneficial for the families of more than 1,000 bank employees who died of Kovid. The immediate benefit of this increase will be given to public sector bank employees whose family pension has been increased between Rs 4,000 and Rs 32,000. It will depend on the category of the employee and the salary of the last month.
three different categories
According to the IBA, bank employees are generally divided into three different categories, sub staff, officers and general managers.
An IBA member said that the current family pension of sub-employees is around Rs 6,781 per month, for an officer and general manager this amount is Rs 16,973 per month, which would be considered too low for expenses in today’s time. .
Once the IBA request is approved by the government, the new family pension will be Rs 10,791 for sub staff, Rs 24,474 for an officer and Rs 49,455 for a general manager-rank officer.
For the three different categories, this increase can be assumed to be around 59 per cent, 44 per cent and 191%.
Debashish Panda, Secretary, Department of Financial Services, said, “Earlier the scheme had a slab of 15%, 20% and 30% of the salary and it was within the maximum limit of Rs 9,284 without other allowances. This was a very small amount.
The Finance Minister was concerned over this and wanted it to be amended so that the family members of the bank employees can get a decent amount to live well”.
Additional Benefits
The government has increased the contribution of public sector banks towards employee pension under NPS to 14% from the earlier 10%.
IBA said that with the increase in the contribution of the company, bank employees will now get more financial assistance under NPS.
Debashish Panda said, “Due to the 11th tripartite settlement on wage revision of public sector bank employees, which was signed by IBA with unions on November 11, 2020.
It was proposed to increase family pension and company contribution under NPS. This has finally been approved and implemented by the Finance Minister”.
what the union says
Rajan Nagar, President, All India Bank Employees Association told Money 9, “This was our demand from 2019 onwards. It was also signed by the IBA, union and bank management in the tripartite meeting of IBA in November 2020. After all, the government has approved it but it will take another 3-4 months to get the benefit.
Nagar said, ‘We had put more demands before the previous governments. But this government is not ready to listen to us. Those people are planning to sell PSBs and our fight will go on till our last breath”.
Pradeep Biswas, Vice President of Bank Employees Federation of India said, ‘The decision of the government is welcome but it is not enough. There is much more to do now. The government should try to run the banks.”
