The government has cleared the proposal for improvement as under
(A) FOR PRE-1986 RETIREES
Basic component has been increased from Rs. 300 p.m. to Rs. 350 P.M. plus DA at the applicable rates. At the present rate of DA, such retiree will get increase of Rs. 436 pm.
( B) FOR SPOUSES OF DECEASED PRE-1986 RETIREES
At present such spouses are paid fixed amount of Rs. 1000 pm. Now it will be changed into two parts - Basic Amount of Rs. 175 plus variable DA at the appropriate rate pm. At the present rates of DA, the amount payable will be Rs. 1525 pm giving increase of Rs. 525 pm. Further it will keep on revising ever 6 months with change in DA slabs.
IT MAY BE NOTED THAT THE ABOVE CHANGES WILL BE EFFECTIVE FROM 1ST DECEMBER 2013.
It is learnt that IBA will issue the circular in the matter shortly.
Source: AIBRF Website
(A) FOR PRE-1986 RETIREES
Basic component has been increased from Rs. 300 p.m. to Rs. 350 P.M. plus DA at the applicable rates. At the present rate of DA, such retiree will get increase of Rs. 436 pm.
( B) FOR SPOUSES OF DECEASED PRE-1986 RETIREES
At present such spouses are paid fixed amount of Rs. 1000 pm. Now it will be changed into two parts - Basic Amount of Rs. 175 plus variable DA at the appropriate rate pm. At the present rates of DA, the amount payable will be Rs. 1525 pm giving increase of Rs. 525 pm. Further it will keep on revising ever 6 months with change in DA slabs.
IT MAY BE NOTED THAT THE ABOVE CHANGES WILL BE EFFECTIVE FROM 1ST DECEMBER 2013.
It is learnt that IBA will issue the circular in the matter shortly.
Source: AIBRF Website
There is discrimination in implementing the enhanced gratuity in May 2010, badly affecting the retirees between 2006-10. Unions have forgotten the retirees, whose number is dwindling progressively. .
ReplyDeleteMy relative after 25+ years of service in Canara Bank opted for voluntary retirement and this happened before 1986. Will she be eligible for the pension please? I request you to guide me so that my relative's financial burden will be greatly reduced. Thanks in advance for your guidance please..
ReplyDeletepenssbanks is effective from 1-1-86 only. since the referred case relates to previous to relavant date. so not entitledfor pension option though he qualify the number of years of service.
ReplyDelete