Circular No 733/PPD/2020

20 August 2020

1. The Chief General Manager/ General Manager/ Officer-in-Charge
National Bank for Agriculture and Rural Development
All Regional Offices /Head Office Depts. at Mumbai

2. The Principal/ Director/ Joint Director
National Bank for Agriculture and Rural Development
All Training Establishments

Dear Sir/Madam

Grant of interim relief to pensioners

As you are aware, the issue of revision of pension is pending for approval of GoI. The pensioners have approached the Bank for grant of interim relief, pending revision in pension. It has, therefore, been decided to provide Interim Relief (IR) @ 60% of the total amount of the notional pension (based on the multiplication factors mentioned below which are broadly on the lines allowed for the referral institution) and Dearness Relief thereon, to all the existing pensioners who had retired upto 31 October 2012, subject to submission of undertaking as per enclosed format.

2. The Dearness Relief rates as applicable to pensioners from time to time will be reckoned for the purpose.

Also check: Exemption from reimbursement of wrongful / excess payments made to retired Government Employees

3. The payment of IR will be made from August 2020 onwards, subject to submission of undertaking, alongwith pension till the Gol gives its decision on the proposal for revision in pension and will cease thereafter.

5. The undertaking in the prescribed format may be furnished by the eligible pensioner to the nearest RO/TE/DDM-RCO latest by 27 August 2020 for onward transmission to HO (HRMD-Superannuation Cell) to enable release of IR. In case of pensioners based at Mumbai, the undertaking may be submitted directly to HRMD- Superannuation Cell, HO.

6. Since the amount being paid is in the nature of interim relief, no representation in this regard shall be entertained.

(Arun Shukla)
Chief General Manager

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Public Sector Bank(PSB) employees pension scheme : Public Sector Banks employees, who have joined on or after 1.4.2010 are covered under New Pension Scheme (NPS) and , the employees of State Bank of India, who have joined on or after 1.8.2010 are covered under New Pension Scheme (NPS).

The below detailed information was presented as a written reply to a question in Lok Sabha by the Minister of State for Finance Shri.Namo Narain Meena on 8.3.2013.

“Most of the employees of various Public Sector Banks (PSBs) are covered under Bank Employees Pension Regulations pronounced in 1995. Employees who did not opt for pension scheme are continuing under Contributory Provident Fund. Employees who have joined on or after 1.4.2010 are covered under New Pension Scheme (NPS). Employees of State Bank of India are covered under SBI Pension Fund Rules which came into existence in 1955. Employees joining State Bank of India on or after 1.8.2010 are covered under New Pension Scheme (NPS).

Employees of Regional Rural Banks cannot be included in the prevailing Pension Schemes of the PSBs since they belong to different organisations.

National Bank for Agriculture and Rural Development( NABARD) has framed a draft Model Pension Scheme and Regulations on the above lines for introducing pension for RRBs which envisages RRBs to decide on introduction of pension for its employees at par with nationalised banks taking inter alia their financial position into consideration”.

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