Home India Central Bank of India In exercise of the powers conferred by subsection 1 and Clau...
Date: 11-Oct-2023 Category: Extra Ordinary State: Union Government Country: India

In exercise of the powers conferred by subsection 1 and Clause f of sub section

Issued by Central Bank of India · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • The gazette notification pertains to amendments to the Central Bank of India (Employees') Pension Regulations, 1995.
  • These amendments are called the Central Bank of India (Employees') Pension (Amendment) Regulations, 2023.
  • The amendments come into force on the date of their publication in the Official Gazette, unless otherwise specified.
  • The amendments are made by the Board of Directors of Central Bank of India, after consulting with the Reserve Bank of India and with prior approval from the Central Government.
  • The amendments are based on agreements between the Indian Bank’s Association and employee unions and officer associations.

Key Changes

  • Permanent Part-Time Employees Pension Calculation: Effective November 1, 2012, the pension amount for permanent part-time employees in scale wages covered by the Pension Scheme will be calculated based on their actual service instead of pro-rata service.
  • Qualifying Service Calculation: Actual or qualifying service for permanent part-time employees will be calculated from the date of recruitment/appointment or September 1, 1978, whichever is later.
  • Minimum Pension: Introduces a minimum monthly pension of Rs. 2,785 for employees (other than part-time employees) retiring on or after November 1, 2012. It also specifies minimum pension amounts for part-time employees based on their scale of wages (Rs. 932 for 1/3 scale, Rs. 1,397 for 1/2 scale, and Rs. 2,096 for 3/4 scale).
  • Family Pension Discontinuation: Family pension to sons/daughters (including widowed/divorced) will be discontinued if they earn more than Rs. 10,000 per month from employment or self-employment. Similarly, family pension to parents will be discontinued if either parent's income or their combined income exceeds Rs. 10,000 per month.
  • Minimum Family Pension: Specifies a minimum family pension amount of Rs. 18,568 per month for officers and workmen who retired or died on or after November 1, 2012. For others it is Rs 9,284.
  • Dearness Relief: For employees retiring on or after November 1, 2012, dearness relief will be payable/recoverable for every 4-point change over 4440 points in the quarterly average of the All India Average Consumer Price Index for Industrial Workers (1960=100 series). The rate of increase or decrease will be 0.10% of the basic pension for every 4 points.
  • Family Pension Calculation (Post Nov 2012 Retirees): Defines the calculation of monthly family pension for employees (excluding part-time) retiring on or after November 2012, based on their basic pay. It includes a basic family pension component (15-30% of pay) and an additional component (15-30% of allowances counted for PF but not DA). Minimum and maximum limits for the aggregate family pension are also defined based on pay slabs.

Impact Analysis

Employees

  • Action Item: Central Bank of India needs to communicate these changes to all current and former employees and their families.

Central Bank of India

  • Action Item: Update pension administration systems and train staff on the new regulations.

Pension Fund

  • Action Item: Review and adjust the investment strategy as needed.

Beneficiaries of deceased employees

  • Action Item: Central Bank of India to identify and reach out to families of deceased employees to communicate changes.

Key Entities Referenced

Central Bank of India: The entity responsible for implementing and administering the amended pension regulations. Reserve Bank of India: The regulatory body consulted during the amendment process. Central Government: The authority that provided prior sanction for the amendments. Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970: The Act under which the Central Bank of India is authorized to make these regulations. Central Bank of India (Employees') Pension Regulations, 1995: The original regulations that are being amended. Indian Bank’s Association: Association representing member banks that agreed to the terms and conditions of the settlement and Joint Note.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-एम.एच.-अ.-13102023-249374 xxxGIDHxxx CG-MH-E-13102023-249374 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 697] नई कदल्ली, बुधवार, अक्त बू र 11, 2023/आज‍व न 19, 1945 No. 697] NEW DELHI, WEDNESDAY, OCTOBER 11, 2023/ASVINA 19, 1945 सन्ट्े रल बकैं ऑफ इंजडया (मानव ससं ाधन जवकास जवभाग) अजधसचू ना मुम्बई, 1 जसतम्ब र, 2023 एफ. स. 395 (ई).—बैंककंग कंपनी (उपक्रमों का अजधग्रहण और हस्ट्तांतरण) अजधजनयम, 1970 (1970 का 5) की धारा 19 की उप-धारा (1) एव ं उप-धारा (2) का खंड (एफ) के अनुसार प्रदत्त िजियों के प्रयोग में, सेन्ट्रल बैंक ऑफ इंजडया के जनदिे क मडं ल द्वारा, भारतीय ररिव व बैंक से परामिव के बाद एव ं केंद्र सरकार की पूवव स्ट्वीकृजत के अनुसार, सेन्ट्रल बैंक ऑफ इंजडया (कमवचारी) पेंिन जवजनयम, 1995 में जनम्नजलजखत संिोधन ककए गए ह.ैं :- 1. संजिप्त नाम और प्रारंभ – (1) इन जवजनयमों को सेन्ट्रल बैंक ऑफ इंजडया (कमवचारी) पेंिन (संिोधन) जवजनयम, 2023 कहा िाएगा. (2) इन जवजनयमों में अन्ट्यथा स्ट्पष्ट रूप से जवजनर्दवष्ट ककए बगरै ये जवजनयम आजधकाररक रािपत्र में उनके प्रकािन की तारीख से प्रवृत होंग.े 2. सेन्ट्रल बैंक ऑफ इंजडया (कमवचारी) पेंिन जवजनयम, 1995 (इसके बाद संदर्भवत जनयमों के रूप में िाना िाता ह)ै , जवजनयम 27 म ें नोट के स्ट्थान पर जनम्नजलजखत नोट को प्रजतस्ट्थाजपत ककया िाएगा :- नोट 1:- कदनाकं 01 नवम्बर 2012 स,े पेंिन योिना में िाजमल वेतनमान श्रणे ी म ें स्ट्थायी अंिकाजलक कमवचाररयों के पेंिन राजि की गणना करने हते ु उनकी वास्ट्तजवक सेवा अहकव सेवा के रूप में ली िाएगी न कक यथानुपाजतक. 6459 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] नोट 2 :- वास्ट्तजवक सेवा अथवा अहकव सेवा की गणना भती अथवा वेतनमान म ें स्ट्थायी अंिकाजलक कमवचारी के रूप म ेंजनयुजि की तारीख अथवा 01 जसतम्बर, 1978 (िो भी बाद में हो) स ेकी िाएगी. 3. उि जवजनयमों के जवजनयम 36 म,ें खडं (ई) के बाद, 'जनम्नजलजखत खडं सजम्मजलत ककया िाएगा:- (एफ) 01 नवम्बर 2012 को अथवा उसके बाद सेवाजनवृत अिं काजलक कमवचारी को छोडकर, अन्ट्य कमवचारी को दो हिार सात सौ पचासी रुपये प्रजत माह, अिं काजलक कमवचारी िो वेतनमान का 1/3 भाग वेतन के रूप में पाता हो, को नौ सौ बत्तीस रुपये प्रजत माह, अिं काजलक कमवचारी िो वते नमान का 1/2 भाग वेतन के रूप में पाता हो, को एक हिार तीन सौ रुपय े प्रजत माह और अंिकाजलक कमवचारी िो वेतनमान का 3/4 भाग वेतन के रूप में पाता हो, को दो हिार जछयानबे रुपये प्रजत माह, िहां अंिकाजलक कमवचारी 01 नवम्बर 2012 को अथवा बाद में सेवाजनवृत हुए हो. 4. इन जवजनयमों के जवजनयम 40 में :- (ए) उप – जवजनयम (1) म,ें -- (i) खंड (बी) में, पहले उपबंध के स्ट्थ ान पर, जनम्न जलजखत उपबंध प्रजतस्ट्थाजपत होगा िो जनम्न ानसु ार ह ै:-- “बित ें पुत्र एव ं पुत्री (जवधवा अथवा तलाकिुदा सजहत) को देय पाररवाररक पेंिन बंद कर दी िाएगी अथवा अनुमत नहीं होगी िब पात्र पुत्र अथवा पत्रु ी सरकार म ें अथवा जनिी ित्रे म ें रोिगार म ें अथवा स्ट् व-रोिगार इत् याकद से प्रजतमाह रुपये दस हिार से अजधक अर्िवत करना प्रारंभ कर देता/देती ह.ै” ; (ii) खंड (सी) हते ,ु जनम्न खंड प्रजतस्ट्थ ाजपत होगा िो जनम्न ानुसार ह ैं:- “(सी) माता-जपता के मामल े म,ें पाररवाररक पेंिन बंद कर दी िाएगी अथवा अनुमत नहीं होगी िबकक सरकार में अथवा जनिी िेत्र में रोिगार से अथवा स्ट् व-रोिगार इत् याकद से माता-जपता में से ककसी एक की आय अथवा माता-जपता दोनों की सकल आय रुपये दस हिार प्रजतमाह से अजधक होती ह.ै ”; (बी) उप जवजनयम (4) म,ें -- (i) खंड (ए) म,ें उप-खंड (v) के बाद जनम्न उप-खंड िोडा िाएगा िो जनम्न ानुसार ह ैं: -- “(vi) अजधकाररयों एव ं कमवचाररयों दोनों म ें िो नवम् बर, 2012 के पहल े कदन को अथवा उसके प‍ चात् सेवाजनृत्त हुए ह ैं या मर गए ह ैं के संबंध में प्रजतमाह रुपये अठारह हिार पांच सौ अडसठ मात्र”, (ii) खंड (बी) में, उप-खडं (v) के बाद, जनम्न उप-खडं िोडा िाएगा िो जनम्नानुसार ह ै:-- “(vi) अजधकाररयों एवं कमवचाररयों दोनों म ें िो नवम् बर 2012 के पहल े कदन को अथवा उसके प‍ चात) सेवाजनवृत् त हुए ह ैं या मर गए ह ैं के संबंध म ें प्रजतमाह रुपय े अठारह हिार पांच सौ अडसठ मात्र”, (iii) खंड (सी) में, उप-खडं (v) के बाद जनम्न उप-खंड िोडा िाएगा िो जनम् नानुसार ह ैं: -- “(vi) अजधकाररयों एव ं कमवचाररयों दोनों म ें से िो नवम् बर 2012 के पहल े कदन को अथवा उसके प‍ चात् सेवाजनवृत् त हुए ह ैं या मर गए ह ैं के संबंध म ें प्रजतमाह रुपये नौ हिार दो सौ चौरासी मात्र”. 5. कजथत जवजनयमों के अनुबंध II म,ें खडं (4) में, दसु रे उपबंध के प‍ चात् जनम्न उपबंध िोडा िाएगा िो जनम्न ानुसार ह ैं:-- “ िबकक यह भी कक उन कमवचाररयों के संबंध म ें िो नवम् बर 2012 के पहल े कदन को अथवा उसके प‍ चात ् सेवाजनवृत् त हुए ह,ैं महगं ाई भत् ता 1960=100 की श्रृंखला में औद्योजगक कमवचाररयों हते ु अजखल भारतीय औसत उपभोक्त ा मूल् य सूचकांक में जतमाही औसत में 4440 जबन्ट् दओंु के ऊपर प्रत् यके चार जबन्ट् दओंु के बढ़न े पर देय अथवा प्रत् यके जगरावट पर वसूली योग् य होगा और प्रत् येक कजथत चार जबन्ट् दओंु हते ु महगं ाई भत् ते में ऐसी बढ़त अथवा जगरावट की गणना मूल पेंिन के 0.10 प्रजतित की दर से की िाएगी.[भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 3 6. कजथत जवजनयम म ेंअनुबंध III म,ें खंड (ई) के प‍ चात जनम्न खंड िोडा िाएगा िो जनम्न ानसु ार ह ैं:-- “(एफ़) नवम्बर 2012 के प्रथम कदन को उसके पश्चात सेवाजनवृत्त हुए अंिकाजलक कमवचाररयों स े अन्ट्य कमचव ारी (अजधकारी तथा पंचाट कमवचारी दोनों) के संदभव म:ें प्रजत माह माजसक पररवार पिें न की राजि वते न (बजे सक) ₹ 11,100/- तक बेजसक वेतन का 30% पररवार पेंिन का बेजसक होगा और भजवष्य जनजध अिं दान की गणना में जलए िान े वाले परंत ुमहगं ाई भत्ता की गणना म ेंन जलए िान े वाले भत्तों का 30 % अजतररि बेजसक पररवार पिें न होगा. बितें बेजसक तथा अजतररि पररवार पेंिन की सकल राजि न्ट्यनू तम ₹2785/- प्रजत माह हो. ₹ 11,001/- से बेजसक वेतन का 20% पररवार पेंिन का बेजसक होगा और भजवष्य जनजध अंिदान की ₹ 22,200/- तक गणना में जलए िान े वाले परंत ुमहगं ाई भत्ता की गणना म ेंन जलए िान े वाले भत्तों का 20 % अजतररि बेजसक पररवार पिें न होगा. बितें बेजसक तथा अजतररि पररवार पेंिन की सकल राजि न्ट्यनू तम ₹3422/- प्रजत माह हो. ₹ 22,220/- से अजधक बेजसक वेतन का 15% पररवार पेंिन का बेजसक होगा और भजवष्य जनजध अंिदान की गणना में जलए िान े वाले परंत ुमहगं ाई भत्ता की गणना म ेंन जलए िान े वाले भत्तों का 15 % अजतररि बेजसक पररवार पिें न होगा. बितें बेजसक तथा अजतररि पररवार पेंिन की सकल राजि न्ट्यनू तम ₹4448/- प्रजत माह तथा अजधकतम ₹9284/- प्रजत माह होगी. स्ट्पजष्टकरणात्मक ज्ञापन ये जवजनयम िो पूववप्रभावी रूप स े लाग ू ककए गए ह,ैं सम्बंजधत बैंकों द्वारा इस सम्बंध म ें कदए गए जवजिष्ट अजधदेिों के आधार पर, सदस्ट्य बैंकों की ओर से भारतीय बैंक संघ तथा बकं ों के िीर्व स्ट्तरीय कमवचारी सगं ठनों और अजधकारी संघों के बीच हस्ट्तािररत समझौते और संयिु नोट के सहमत जनयमों एवं ितों के अनरूु प ह.ै अतः ऐसे पूववप्रभावी पररणाम से ककसी भी व्यिी के जहत पर कोई प्रजतकूल प्रभाव नहीं होगा. पॉपीं िमाव, महाप्रबंधक-मासंजव [जवज्ञापन-III/4/असा./479/2023-24] नोट : मलू जवजनयम भारत सरकार के राि-पत्र म ें अजधसूचना केका/कार्मवक/पेंिन/95-96/278, कदनाकं 29 जसतंबर, 1995 द्वारा प्रकाजित तथा अंजतम संिोधन अजधसूचना केका/कार्मवक/पेंिन/2017-18/444, कदनांक 20 जसतंबर, 2017 के माध्यम से प्रकाजित ककए गए हैं. CENTRAL BANK OF INDIA (Human Resources Department) NOTIFICATION Mumbai, the 1st September, 2023 F. No. 395(E).—In exercise of the powers conferred by sub-section (1) and Clause (f) of sub-section (2) of section 19 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), the Board of Directors of the Central Bank of India, after consultation with Reserve Bank of India and with the previous sanction of the Central Government, hereby makes the following regulations further to amend the Central Bank of India (Employees') Pension Regulations, 1995, namely:- 1. Short title and commencement.-(1) These regulations may be called the Central Bank of India (Employees') Pension (Amendment) Regulations, 2023.4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] (2) Save as otherwise expressly provided in these regulations, they shall come into force on the date of their publication in the Official Gazette. 2. In the Central Bank of India (Employees') Pension Regulations, 1995 (hereinafter referred to as the said regulations), in regulation 27, for the.note, the following note shall be substituted; namely:- st ''Note 1: With effect from 1 November 2012, for the purpose of calculating the amount of pension in respect of permanent part-time employees in scale wages who are covered by the Pension Scheme, their actual service shall be reckoned for qualifying service and not pro-rata. Note 2: The actual service or qualifying service shall be calculated from the date of recruitment or st appointment as permanent part-time employee in scale wages or from·1 September, 1978, whichever is later. 3. In regulation 36 of the said regulations, after clause (e),the following clause shall be inserted, namely:- (f) rupees two thousand seven hundred and eighty-five per month in respect of an employee, other than a part- time employee retired on or after 1st day of November 2012, rupees nine hundred and thirty two per month in respect of a part-time employee drawing 1/3 scale of wages, rupees one thousand three hundred and ninety-seven per month in respect of a part-time employee drawing ½ scale wages, and rupees two thousand and ninety-six per month in respect of a part-time employee drawing ¾ scale wages, where the part-time employee retired on or after the 1st day of November 2012”. 4. In Regulation 40 of the said regulations- (a) in sub-regulation (1) (i) in clause (b), for the first proviso, the following proviso shall be substituted,namely:- “Provided that the family pension payable to son or daughter (including widowed or divorced) shall be discontinued or not be admissible when the eligible son or daughter starts earning a sum in excess of rupees ten thousand per month from employment in Government or private sector or self employment, etc. “, (ii) for clause (c), the following clause shall be substituted, namely:- “(c) in the case of parents, the family pension shall be discontinued or not be admissible if the income of one of the parents, or the aggregate income of both the parents from employment in Government or private sector or self- employment, exceeds rupees ten thousand per month.”, (b) in sub-regulation (4),- (i) in clause (a), after sub-clause (v), the following sub-clause shall be inserted, namely:- “(vi) eighteen thousand five hundred and sixty-eight rupees per mensem only in respect of employees, both officers and workmen, who retired on or died on or after 1st day of November 2012.”, (ii) in clause (b), after sub-clause (v), the following sub-clause shall be inserted, namely:- (vi) eighteen thousand five hundred and sixty-eight rupees per mensem only in respect of employees, both officers and workmen, who retired on or died on or after 1st day of November 2012.”, (iii) in clause (c), after the sub-clause (v), following sub-clause shall be inserted, namely:- (vi) nine thousand two hundred and eighty-four rupees per mensem only in respect of employees, both officers and workmen, who retired on or died on or after 1st day of November 2012.”. 5. In Appendix II to the said regulations, in clause (4), after the second proviso, the following proviso shall be inserted, namely:- “ Provided also that in respect of employees who retired on or after 1st day of November 2012, dearness relief shall be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 4440 points in the quarterly average of the All India Average Consumer Price Index for Industrial workers in the series 1960=100 and such increase or decrease in dearness relief for every said 4 points shall be calculated at the rate of 0.10 percent of basic pension”. 6. In Appendix III to the said regulations, after clause (e), the following clause shall be inserted, namely”- “(f) In respect of employees (both officers and workmen) other than part-time employees retiring on or after 1st day of November 2012:[भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 5 Scale of pay per month Amount of monthly family pension Upto Rs. 11,100 30% of the `Pay’ shall be the basic family pension and additional 30% of allowance which are counted for making contribution to Provident Fund but not for dearness allowance, shall be the additional family pension: Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs. 2785 per month. Rs. 11,101 to 20% of the `Pay’ shall be basic family pension and additional 20% of Rs. 22,200 allowance which are counted for making contributions to Provident Fund but not for dearness allowance, shall be the additional family pension: Provided that the aggregate of basic and additional family pension shall be subject to minimum of Rs. 3422 per month. Above Rs. 22,200 15% of the `Pay’ shall be the basic family pension and additional 15% of allowances which are counted for making contributions to Provident Fund but not for the dearness allowance, shall be the additional family pension: Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.4448 per month and maximum of Rs. 9284 per month. Explanatory Memorandum The regulations which have been given restrospective effect are as per the agreed terms and conditions of the settlement and Joint Note signed between the Indian Bank’s Association on behalf of member banks on the basis of specific mandate given by the respective banks in this regard and apex level workmen unions and officers’ association of the Banks. Therefore, interests of no person shall be adversely affected by such retrospective effect. POPPY SHARMA, General Manager-HCM [ADVT.-III/4/Exty./479/2023-24] Note: The principal regulations were published in the Gazette of India, vide notification number CO/PRS/PENSION/95-96/278, dated the 29th Septemer 1995 and lastly amended, vide notification number CO:HRD:PEN:444, dated the 1st September 2017 published in Part III, Section 4 of the Gazette of India, dated the 20th September 2017. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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