Pension : The government has given a big relief by increasing the pension of retired employees from RBI. The central government has approved the revision of pension for retired employees of the Reserve Bank of India (RBI). According to the notification dated July 13, RBI has said that the revised money will be applicable for those who retired before November 1, 2017.
Government revised pension
Now the basic pension has been revised from Rs.100 to Rs.163. This revised money will be given from June 2023. However, no arrears will be paid for the period prior to June 2023. Earlier the Eastern Maharashtra Bank Retirees Association had requested the government to expedite the pension updation. This demand of the employees is pending since 27 years.
Employees’ association was demanding for a long time
In July 2020, the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UBFU) had also signed an MoU to meet the demands. After the signing, around 8.5 lakh bank employees got a 15 per cent hike in their salary package. This demand of the Employees Association was going on for the last three years. Till November 1, 2017, banks had to pay about Rs 7,900 crore for salary revision. The pension scheme was implemented in the banks in 1995. Since then eight industries have signed wage agreements.
