Government’s big gift to the families of bank employees, 30 percent increase in pension payout


oi – Ankur Singh


Published: Thursday, August 26, 2021, 9:44 [IST]

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New Delhi, 26 August. The central government has given a big gift to the bank employees. The government has decided to increase the family pension of bank employees by 30 percent. This increase will be 30 per cent of the last salary drawn by the employee. The family pension of the employees will be increased from 30 thousand to 35 thousand rupees. Earlier it was fixed only up to Rs 9284. Finance Secretary Debashish Panda gave information about the increase in family pension of bank employees in a press conference on Wednesday.


The Indian Banks Association had recommended some time back that family pension is given to different categories of pensioners at slab rates of 15, 20 and 30 per cent which needs to be revised and should not be fixed. After which the Finance Minister approved the proposal of IBA and decided to make changes in the pension so that more and more families of bank employees could get the benefit.

Debashish Panda said that the contribution of the employer in the National Pension Scheme will be increased from 10 per cent to 14 per cent. On August 25, Finance Minister Nirmala Sitharaman held a review meeting with the heads of all public sector banks. After which the Finance Minister launched Ease 4.0, the main objective of which is to make banks a smart institution, through which there can be major reforms in the banking sector.

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Last month, the government had announced to increase the dearness allowance of central employees. Apart from this, the Dearness Relief of the pensioner was increased from 17 percent to 28 percent, which has become effective from July 1. Please tell that due to the Corona epidemic, Dearness Allowance and Dearness Relief were banned last year. But now once again the government has not only restored it back but has also increased it.

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english summary

Big announcement for bank employees government increases pension payouts to 30 percent.

Story first published: Thursday, August 26, 2021, 9:44 [IST]

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