Bank has set right the anomaly by proportionately applying multiplication factor where pension was worked out on different pay scales. Earlier the basic pension was revised by applying one multiplication factor as given in circular dated 7th march 2019, although pension was calculated on two different pay scales. Date of retirement Basic Pension revised by…
Bank has updated the Master Circular about Medical Assistance Fund Scheme (MAFS) in the light of the instructions issued till November 4, 19. We have split the Master circular in two parts.Part I – containing the detailed instructions and ,Part II – containing forms for official use.Members may view (Part I) here. Some extracts relevant…
As RBI has onboarded to JeevanPramaan portal as Pension Sanctioning Agency (PSA) and Pension Disbursing Authority (PDA), the option of submitting Digital Life Certificate (DLC) has been introduced effective this year ( November 1, 2019) for RBI’s Pensioners, Family Pensioners and Ex-Gratia Recipients . DLC is an alternative to the existing option of submitting the…
Bank has made available the latest Master Circular dated 1st July 19 on Pension. We have split the circular in two parts- one containing the detailed instructions and the other part contains forms for official use. Members may view (Part I) here. Some relevant extracts are reproduced below. RBI Pension Regulations, 1990 do not cover…
As the earlier cashless GMP policy under MAFS taken from Bajaj Allianz General Insurance Company Ltd. expired on August 14, 2019, the policy has now been placed with New India Assurance company Ltd. for a further period of one year (15-8-19 to 14-8-20) on the mutually agreed terms and conditions. As there is a change…
RBI has issued a circular dated 22nd July,19 advising that the window for entering declaration of savings/ investment/ income from other sources has been enabled in Samadhan portal.1. For retirees in Class IV, the local HR Administrators may enter the declaration in the Samadhan portal (on behalf service) upon receipt of hard copy of the…
As decided in a meeting of the office bearers of AIRBIOPF, an appeal regarding the items below has been sent to FM, Smt. Nirmala Sitaraman for her consideration and approval. Payment of pending Arrears on account of revision of pension. Updation of pension with appropriate load factor as applicable to the in-service employees at the time of…
As retirees’ forum we wish to apprise her about the continuous and decade long demand of one time option for pension to about 2600 RBI retirees (PF optees). Subordinate Legislature Committee had recommended that the issue ought to be under the domain of RBI Management. The Ministry for Finance was seized of the matter and we understand that approval was about to be granted . But as model code of conduct was enforced, the final orders were withheld.
As stated in earlier post Pension in RBI has been revised effective March 19 and Bank has been asked by the M/o Finance to apply the multiplying factors in respect of various categories of retirees as per table below. Pension Revision in RBI – Multiplying Factors factor on 1.11.02 factor on 1.11.07 factor on 1.11.12…
We are happy to inform that the Ministry of Finance by their letter dated 5th March 2019 have granted approval for updating pension to the pensioners in RBI with a notional increase of 10% in pension plus DA with wage agreements done in 2002, 2007 and 2012. This results in overall increase in basic pension […]
