The family pension for bank employees should be increased by a uniform payment of 30 percent of the last salary, Debasish Panda, secretary of the Financial Services Department, said on Wednesday.
“In the continuation of the 11th two-part agreement on the revision of salaries of employees in public sector banks, which the Association of Indian Banks signed with the unions on November 11, 2020, a proposal was made to increase the family pension and employers’ contributions from the NPS. This was approved by the Minister of Finance “, said Panda, who was accompanied by the Minister of Finance Nirmala Sitharaman.
With this move, the family pension would rise to as much as 30,000-35,000 ₹ per family of bank employees.
So far, the survivor’s pension for bank employees is less than three plates of 15%, 20% and 30% of the last salary with a limit of 9,284 ₹.
“They have to get a decent amount to survive and survive. Now the cap has been removed and a 30 percent plate will be uniform, ”he told reporters.
Employer’s contribution
The government also approved a proposal to increase employer contributions under the NPS from 14 per cent from the existing 10 per cent for employer and employee contributions.
“Thousands of families of PSU bank employees will benefit from an improved family pension, while increasing employer contributions will provide greater financial security to bank employees under the NPS,” the official statement said.
.
0 Comments