Wednesday, October 20, 2010

Pension Calculations for employees retired between Nov. 2007 and July 2008

Indian Banks Association has issued guidelines for the calculation of basic pension of employees who retired between Nov 2007 and July 2008.  Pension Basic  is calculated on last 10 months average basic. Last 10 months basic of these employees falls in two bipartite settlements i.e. for some months - 8th BPS and for some another months - 9th BPS.  In such cases, for  arriving at average basic pension , certain percentage of D.A. is added to the basic pension of 8th BPS. IBA has issued detailed guidelines in this regard. For viewing the IBA guideline click on the link below.

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