Saturday, October 23rd, 2021 13:29:21

Centre approves IBA’s proposal to increase family pension to 30% of last salary drawn

Updated: August 26, 2021 2:15 pm

The Central Government has approved to increase the family pension of bank employees to 30 per cent of last salary drawn.

This move would make family pension go up to as much as 30,000 rupees to 35,000 rupees per family of bank employees.

This proposal was given by the Indian Banks’ Association’s proposal in order to provide relief to families of Bank Employess.

This was announced by the Secretary, Department of Financial Services, Ministry of Finance, at a press meet addressed by Finance Minister Nirmala Sitharaman in Mumbai yesterday.

Secretary Debashish Panda informed that in continuation of the 11th bi-partite settlement on wage revision of public sector bank employees, which was signed by the IBA with the unions on 11th November last year,  there was a proposal for enhancement of family pension and also the employers’ contribution under the National Pension Scheme.

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