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11th Bipartite Settlement for Pensioners – Family Pension to uniform rate of 30%

11th Bipartite Settlement for Pensioners

Minutes of the discussions held on 22nd July, 2020 between IBA representing Management of banks which are parties to the Bipartite Settlement and Workmen Unions and Officers’ Associations on wage revision

Good news – Improvement in Family Pension: On conclusion and signing of the MoU, the Chairman of IBA and SBI, Shri Rajnish Kumar came in the meeting room and participated in the discussions. During his address to all the participants, he informed that IBA agrees in principle to improve Family Pension to uniform rate of 30% for all family pensioners without any ceiling and the existing ceilings of family pension will be removed. Necessary approval of the Government would be obtained.

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