**Executive Summary:**
This document outlines amendments to the State Bank of India Employees Pension Fund Regulations, 2014, concerning pension calculations and dearness relief. The amendments address maximum pension amounts for employees who retired on or after specific dates and revisions to dearness relief calculations based on the All India Average Consumer Price Index. These regulations came into force on the date of their publication in the Official Gazette, October 4, 2017.
**Key Points / Main Content:**
**Pension Calculation Amendments:**
* **Retirees from November 1, 1987:** The maximum pension amount is increased from Rs. 2,400 to Rs. 3,775 per month (pro-rata for part-time employees).
* **Retirees from November 1, 1992 (Award Staff) or July 1, 1993 (Supervising Staff):** The maximum pension amount is increased from Rs. 2,400 to Rs. 4,250 per month (pro-rata for part-time employees), after dearness allowance adjustment.
* **Retirees from March 1, 1999 (Pay Scales effective from November 1, 1992 Award Staff or July 1, 1993 Supervising Staff):** Pension is calculated based on average monthly substantive salary:
* Up to Rs. 8,500: 50% of the average salary (pro-rata for part-time employees).
* Above Rs. 8,500: 40% of the average salary (minimum Rs. 4,250, pro-rata for part-time employees).
* **Retirees from November 1, 1997 (Award Staff) or April 1, 1998 (Supervising Staff):** Pension is calculated by adjusting the average basic pay:
* Up to Rs. 13,666: 50% of the average salary (pro-rata for part-time employees).
* Above Rs. 13,666: 40% of the average salary (minimum Rs. 6,833, pro-rata for part-time employees).
* **Retirees from May 1, 2005 (Pay Scales effective from November 1, 1997 Award Staff or April 1, 1998 Supervising Staff):** Pension is calculated based on average monthly substantive salary:
* Up to Rs. 14,240: 50% of the average salary (pro-rata for part-time employees).
* Above Rs. 14,240: 40% of the average salary (minimum Rs. 7,120, pro-rata for part-time employees).
* **Retirees from May 1, 2005 (Pay Scales effective from November 1, 2002):** Pension is calculated based on average monthly substantive salary plus Professional Qualification Pay and Fixed Personal Pay:
* Up to Rs. 21,040 (plus pays): 50% of the average salary (pro-rata for part-time employees).
* Above Rs. 21,040 (plus pays): 40% of the average salary (minimum Rs. 10,520 plus half of pays, pro-rata for part-time employees).
* **Retirees from November 1, 2007 (Pay Scales effective from November 1, 2007):** Pension is calculated based on average monthly substantive salary plus Professional Qualification Pay and Fixed Personal Pay:
* Up to Rs. 31,500 (plus pays): 50% of the average salary (pro-rata for part-time employees).
* Above Rs. 31,500 (plus pays): 40% of the average salary (minimum Rs. 15,750 plus half of pays, pro-rata for part-time employees).
* **Retirees from November 1, 2012 (Pay Scales effective from November 1, 2012):** Pension is calculated based on average monthly substantive salary plus Professional Qualification Pay and Fixed Personal Pay:
* Up to Rs. 51,490 (plus pays): 50% of the average salary (pro-rata for part-time employees).
* Above Rs. 51,490 (plus pays): 40% of the average salary (minimum Rs. 25,745 plus half of pays, pro-rata for part-time employees).
**Dearness Relief Amendments:**
* Dearness relief shall be allowed on full basic pension even after commutation.
* **Retirees from November 1, 1997 (Award Staff) or April 1, 1998 (Supervising Staff):** Dearness relief is adjusted for every 4 points above 1616 points in the Consumer Price Index (1960=100), with specific percentage rates based on pension scale.
* **Retirees from May 1, 2005 (Award Staff) or April 1, 1998 (Supervising Staff):** Dearness relief is adjusted for every 4 points above 1684 points in the Consumer Price Index (1960=100), with specific percentage rates based on pension scale.
* **Retirees from November 1, 2007:** Dearness relief is adjusted for every 4 points above 2836 points in the Consumer Price Index (1960=100) at 0.15% of the basic pension.
* **Retirees from November 1, 2012:** Dearness relief is adjusted for every 4 points above 4440 points in the Consumer Price Index (1960=100) at 0.10% of the basic pension.
**Other Amendments:**
* Clarifications on applicable dates for pensionable service for Award Staff and Supervising Staff.
**Impact Analysis:**
**State Bank of India Employees:**
* **Impact:** Changes in pension calculation methods and dearness relief, potentially affecting the amount of pension received.
* **Action Required:** Review pension statements and understand the impact of the new regulations on their pension amount.
**State Bank of India (SBI):**
* **Impact:** Required to implement the amended regulations in pension fund management and calculations.
* **Action Required:** Update pension calculation systems, communicate changes to employees, and ensure compliance with the new regulations.
Key Entities Referenced
State Bank of India: A major public sector bank in India. The policy document pertains to amendments in the State Bank of India Employees Pension Fund Regulations.
State Bank of India Act, 1955: An act of the Parliament of India that governs the State Bank of India.
Reserve Bank: The central bank of India, consulted in the amendment process of the pension fund regulations.
State Bank of India Employees Pension Fund Regulations, 2014: The original pension fund regulations of the State Bank of India, which are being amended by this notification.
State Bank of India Employees Pension Fund Amendment Regulations, 2017: The new regulations amending the 2014 pension fund regulations.
All India Average Consumer Price Index for Industrial Workers: An index used for calculating dearness relief in pension payments.
New Delhi: The location where the Gazette of India is published.
Mumbai, Maharashtra: The city where the State Bank of India is headquartered and where the notification was issued.
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PART III—Section 4
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No. 383] NEW DELHI, WEDNESDAY, OCTOBER 4, 2017/ASVINA 12, 1939
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अअअअििििधधधधससससचचूूचचूू ननननाााा
मु(cid:3)बई, 4 अ(cid:9) तूबर, 2017
सससस..ंं..ंं बबबबीीीीओओओओडडडडीीीी&&&&जजजजीीीीओओओओ////बबबबीीीीककककेेेेककककेेेे////444477770000....————भारतीय (cid:17)टेट ब(cid:20)क अिधिनयम, 1955 (1955 का 23) क धारा 50 क उप-धारा
के खंड ण के साथ प*ठत उप-धारा (1) के ,ारा -द/ अिधकार0 का -योग करत े 3ए भारतीय (cid:17)टेट ब(cid:20)क का के56ीय बोड 7
भारतीय *रजव7 बक(cid:20) स ेपरामश7 करने के प;च ात ्तथा के56 सरकार क पूव 7(cid:17)वीकृित से भारतीय (cid:17)टेट ब(cid:20)क कम7चारी पश? न िनिध
िविनयमन, 2014 म ?संशोधन करने के िलए एतद्,ारा िनBिलिखत िविनयम बनाता ह,ै अथा7त:्—
1111.... (1) इन िविनयम0 को भारतीय (cid:17)टेट बक(cid:20) कम7चारी प?शन िनिध (संशोधन) िविनयम, 2017 कहा जाएगा।
(2) य ेिविनयम शासक य राजपH म? -काशन क तारीख से लागू ह0गे।
2222.... भारतीय (cid:17)टेट ब(cid:20)क कम7चारी प?शन िनिध िविनयम, 2014 के िविनयम 23 म ?-
(क) उप-िनयम (2) के उपबंध0 के (cid:17)थान पर िनBिलिखत उपबंध0 को -ित(cid:17)थािपत Iकया जाएगा, अथात7 -
“पर5त ु यह Iक 01.11.1987 को या इसके प; चात सेवािनवृ/ 3ए सद(cid:17)य0 के िलए प?शन क अिधकतम रािश
` 2400/- -ित माह स ेबढ़ाकर ` 3775/- -ित माह तक क जाएगी (अंशकािलक कम7चा*रय0 के मामल ेम? यथानुपाितक):
पर5त ु यह भी Iक 01.11.1992 (अवाड 7 (cid:17)टाफ) अथवा 01.07.1993 (पय7वेLी (cid:17)टाफ) को या इसके प; चात ्
सेवािनव/ृ होने वाले सद(cid:17)य0 के िलए अिखल भारतीय Mिमक उपभोNा मूOय सूचकाकं (सामा5य) आधार 1960=100 के
ितमाही औसत म? 1148 िब5द ु तक मलू वेतन म? महगं ाई भ/े का समायोजन करने के बाद प?शन क अिधकतम रािश
`2400/- -ित माह स ेबढ़ाकर `4250/- -ित माह तक क जाएगी (अंशकािलक कम7चा*रय0 के मामले म ?यथानपु ाितक):
पर5त ु आग े यह ह ै Iक Iदनाकं 01.11.1992 (अवाड7 (cid:17)टाफ) अथवा 01.07.1993 (पय7वेLी (cid:17)टाफ) स े -भावी
वेतनमान0 म ? वा(cid:17)तिवक वेतन आह*रत करके सेवािनवृ/ 3ए या सेवािनवृ/ होन े वाले सद(cid:17)य0 के िलए Iदनाकं 01.03.1999
से पश? न क अिधकतम रािश इस सबं ंध म? आगे संशोधन होने तक इस तरह स ेिनकाली जाएगी-
6054 GI/2017 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
(क) यIद िपछल ेबारह महीन ेक प?शन योVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वते न का औसत ` 8500/- -ित माह
तक ह,ै तो िपछल े बारह महीने क प?शन योVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वेतन के औसत का 50 -ितशत
(अशं कािलक कम7चा*रय0 के मामले म ?यथानपु ाितक); और
(ख) यIद िपछल ेबारह महीने क प?शन योVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वेतन का औसत ` 8500/- -ित माह
से अिधक ह ैतो 5यनू तम `4250/- के अXयधीन िपछले बारह महीने क पश? न योVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक
वेतन के औसत का 40 -ितशत (अंशकािलक कम7चा*रय0 के मामले म ?यथानपु ाितक):
पर5त ु यह भी Iक Iदनाकं 01.11.1997 (अवाड 7 (cid:17)टाफ) अथवा 01.04.1998 (पय7वेLी (cid:17)टाफ) स े -भावी वेतनमान
म? वा(cid:17)तिवक वेतन आह*रत करके सेवािनव/ृ 3ए या सेवािनवृ/ होन े वाल े सद(cid:17)य0 के िलए 01.11.1997 (अवाड 7 (cid:17)टाफ)
अथवा 01.04.1998 (पय7वेLी (cid:17)टाफ) से पश? न क अिधकतम रािश इस संबंध म? अगले सशं ोधन तक औसत मूल वेतन को
1684 स ेिवभािजत करके तथा 1616 स ेगुणा करके तदनुYपी (cid:17)तर -ाZ करके िनBानुसार िनकाली जाएगी:
(क) यIद िपछले बारह महीने क प?शन योVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वेतन का औसत ` 13666/- -ित
माह तक ह,ै तो िपछले बारह महीन ेक प?शन योVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वते न के औसत का 50 -ितशत
(अशं कािलक कम7चा*रय0 के मामले म ?यथानपु ाितक); और
(ख) यIद िपछल े बारह महीन े क पश? न योVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वते न का औसत ` 13666/- -ित
माह से अिधक ह,ै तो 5यूनतम ` 6833/- के अXयधीन िपछल े बारह महीन े क प?शन योVय सेवा के दौरान आह*रत मािसक
वा(cid:17)तिवक वेतन के औसत का 40 -ितशत (अंशकािलक कम7चा*रय0 के मामल ेम ?यथानुपाितक):
पर5त ु आग े यह ह ै Iक Iदनाकं 01.11.1997 (अवाड7 (cid:17)टाफ) अथवा 01.04.1998 (पय7वेLी (cid:17)टाफ) स े -भावी
वेतनमान0 म ? वा(cid:17)तिवक वेतन आह*रत करके सेवािनवृ/ 3ए या सेवािनवृ/ होन े वाले सद(cid:17)य0 के िलए Iदनाकं 01.05.2005
से पश? न क अिधकतम रािश इस तरह स ेिनकाली जाएगी-
(क) यIद िपछल े बारह महीन े क प?शन योVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वेतन का औसत ` 14240/- -ित
माह तक ह,ै तो िपछले बारह महीन ेक प?शन योVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वते न के औसत का 50 -ितशत
(अशं कािलक कम7चा*रय0 के मामले म ?यथानपु ाितक); और
(ख) यIद िपछले बारह महीने क प?शन योVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वते न का औसत ` 14240/- -ित
माह से अिधक ह,ै तो 5यूनतम ` 7120/- के अXयधीन िपछल े बारह महीन े क प?शन योVय सेवा के दौरान आह*रत मािसक
वा(cid:17)तिवक वेतन के औसत का 40 -ितशत (अंशकािलक कम7चा*रय0 के मामल ेम ?यथानुपाितक):
पर5त ु आग े यह भी ह ै Iक Iदनाकं 01.05.2005 स,े Iदनाकं 01.11.2002 स े -भावी वेतनमान0 म? वा(cid:17)तिवक वेतन
आह*रत करके सेवािनवृ/ 3ए या सेवािनवृ/ होन े वाल े सद(cid:17)य0 के िलए पश? न क अिधकतम रािश िनBानसु ार रहगे ी और
इसके बाद इस संबंध म ?आग ेसशं ोधन होन ेतक इसी तरह से िनकाली जाएगी-
(क) यIद िपछल े बारह महीने क प?शनयोVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वते न का औसत ` 21040/- तक +
[ावसाियक योVयता वेतन + -ित माह (cid:17)थायी वैयिNक वते न तक ह,ै तो िपछले बारह महीने क प?शनयोVय सेवा के दौरान
आह*रत मािसक वा(cid:17)तिवक वेतन के औसत का 50 -ितशत (अशं कािलक कम7चा*रय0 के मामल ेम? यथानुपाितक); और
(ख) यIद िपछल ेबारह महीने क पश? नयोVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वेतन का औसत ` 21040/- से अिधक
+ [ावसाियक योVयता वेतन + -ित माह (cid:17)थायी वैयिNक वेतन ह,ै तो 5यूनतम ` 10520/- -ित माह + 50 -ितशत
[ावसाियक योVयता वेतन + 50 -ितशत (cid:17)थायी वैयिNक वेतन, जहां कह\ लागू हो, के अXयधीन िपछले बारह महीन े क
प?शनयोVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वेतन के औसत का 40 -ितशत (अंशकािलक कम7चा*रय0 के मामले म ?
यथानुपाितक):¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 3
पर5त ु आग े यह भी ह ै Iक Iदनाकं 01.11.2007 स,े Iदनाकं 01.11.2007 स े -भावी वेतनमान0 म ? वा(cid:17)तिवक वेतन
आह*रत करके सेवािनवृ/ 3ए या सेवािनवृ/ होन े वाल े सद(cid:17)य0 के िलए पश? न क अिधकतम रािश िनBानसु ार रहगे ी और
इसके बाद इस संबंध म ?आग ेसशं ोधन होन ेतक इसी तरह से िनकाली जाएगी-
(क) यIद िपछल े बारह महीने क प?शनयोVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वते न का औसत ` 31500/- तक ह,ै
तो िपछले बारह महीने क पश? नयोVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वते न का 50 -ितशत + 50 -ितशत
[ावसाियक योVयता वेतन + (cid:17)थायी वैयिNक वते न के विृ ]शील घटक का 50 -ितशत, जहाँ कह\ लागू हो, (अंशकािलक
कम7चा*रय0 के मामल ेम ?यथानपु ाितक); और
(ख) यIद िपछल ेबारह महीने क पश? नयोVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वेतन का औसत ` 31500/- से अिधक
ह,ै तो 5यूनतम `15750/- -ित माह के अXयधीन िपछल ेबारह महीने क पश? न योVय सेवा के दौरान आह*रत मािसक वेतन के
औसत का 40 -ितशत + 50 -ितशत [ावसाियक योVयता वेतन + 50 -ितशत (cid:17)थायी वयै िNक वेतन, जहाँ कह\ लागू हो,
(अशं कािलक कम7चा*रय0 के मामले म ?यथानपु ाितक):
पर5त ु आग े यह भी ह ै Iक Iदनाकं 01.11.2012 स,े Iदनाकं 01.11.2012 से -भावी वेतनमान0 म ? वा(cid:17)तिवक वेतन
आह*रत करके सेवािनवृ/ 3ए या सेवािनवृ/ होन े वाल े सद(cid:17)य0 के िलए पश? न क अिधकतम रािश िनBानसु ार रहगे ी और
इसके बाद इस संबंध म ?आग ेसशं ोधन होन ेतक इसी तरह से िनकाली जाएगी-
(क) यIद िपछल े बारह महीने क प?शनयोVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वते न का औसत ` 51490/- तक ह,ै
तो िपछले बारह महीने क पश? नयोVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वते न का 50 -ितशत + 50 -ितशत
[ावसाियक योVयता वेतन + (cid:17)थायी वैयिNक वते न के विृ ]शील घटक का 50 -ितशत, जहाँ कह\ लागू हो, (अशं कािलक
कम7चा*रय0 के मामल ेम ?यथानपु ाितक); और
(ख) यIद िपछल ेबारह महीने क पश? नयोVय सेवा के दौरान आह*रत मािसक वा(cid:17)तिवक वेतन का औसत ` 51490/- से अिधक
ह,ै तो 5यूनतम ` 25745/- -ित माह के अXयधीन िपछल े बारह महीने क प?शन योVय सेवा के दौरान आह*रत मािसक वेतन
के औसत का 40 -ितशत + 50 -ितशत [ावसाियक योVयता वेतन + 50 -ितशत (cid:17)थायी वैयिNक वेतन, जहा ँकह\ लागू हो,
(अशं कािलक कम7चा*रय0 के मामले म ?यथानपु ाितक):
(ख) उप-िविनयम (9), खंड (क) म? “उन सद(cid:17)य0 के मामले म? िजनक ब(cid:20)क क प?शनयोVय सेवा 01.11.1987 स े
31.10.1993” श‘द0, अकं 0 और कोaक0 के (cid:17)थान पर “उन सद(cid:17)य0 के मामले म? िजनक बक(cid:20) क प?शनयोVय सेवा
01.11.1987 से 31.10.1992 (अवाड7 (cid:17)टाफ) अथवा 30.06.1993 (पय7वेLी (cid:17)टाफ)” श‘द0, अकं 0 और कोaक0 को
-ित(cid:17)थािपत Iकया जाएगा;
(ग) उप-िविनयम (10), खंड (क) म? “उन सद(cid:17)य0 के मामल े म ? जो ब(cid:20)क क सेवा से 01.11.1993 के -थम Iदन या उसके
पbात सेवािनव/ृ 3ए ह0” श‘द0, अकं 0 और कोaक0 के (cid:17)थान पर “उन सद(cid:17)य0 के मामले म? जो ब(cid:20)क क सेवा से 01.11.1992
(अवाड 7 (cid:17)टाफ) अथवा 01.07.1993 (पय7वेLी (cid:17)टाफ) के -थम Iदन या उसके पbात सेवािनवृ/ 3ए ह0” श‘द0, अकं 0 और
कोaक0 को -ित(cid:17)थािपत Iकया जाएगा;
(घ) उप-िविनयम (12) के (cid:17)थान पर िनBिलिखत को -ित(cid:17)थािपत Iकया जाएगा, अथात7 :्-
“12(i) महगं ाई राहत, संराशीकरण के उपरांत भी संपणू 7 मूल पश? न पर अनमु त होगी।
(ii)(क) उन सद(cid:17)य0 के मामल े म? जो बक(cid:20) क सेवा स े 01.11.1997 (अवाड 7 (cid:17)टाफ) अथवा 01.04.1998 (पय7वेLी (cid:17)टाफ) के
-थम Iदन या उसके पbात सवे ािनवृ/ 3ए ह0, औcोिगक Mिमक0 हते ु अिखल भारतीय औसत उपभोNा मूOय सूचकाकं के
ितमाही औसत म? 1960=100 क Mृंखला म ? 1616 िब5दdु के ऊपर क 4 अकं 0 क -fयके वृि] हते ु महगं ाई राहत का
भुगतान Iकया जाएगा या -fयेक िगरावट हते ुमहगं ाई राहत, जैसा भी -करण हो, क वसलू ी क जाएगी;4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
(ख) महगं ाई राहत म ?उN -fयके 4 िब5दdु हते ुइस विृ ] या िगरावट क गणना नीचे Iदए गए अनसु ार क जाएगीः-
h.स.ं मलू पश? न (cid:17)केल -ित माह मलू पश? न के -ितशत के Yप म? महगं ाई राहत क दर
(1) (2) (3)
(i) ` 3380 तक 0.25 -ितशत।
(ii) ` 3381 स े` 5420 तक ` 3380 का 0.25 -ितशत और ` 3380 से अिधक क मूल प?शन का
0.21 -ितशत जोड़कर ।
(iii) ` 5421 स े` 5770 तक ` 3380 का 0.25 -ितशत और ` 3380 और ` 5420 के बीच क मलू
प?शन का 0.21 -ितशत और ` 5420 से अिधक क मलू प?शन का 0.12
-ितशत जोड़कर ।
(iv) ` 5770 स ेअिधक ` 3380 का 0.25 -ितशत और ` 3380 और ` 5420 के बीच क मलू
प?शन का 0.21 -ितशत और ` 5420 और ` 5770 के बीच क मलू पश? न
का 0.12 -ितशत और ` 5770 स े अिधक मूल प?शन का 0.06 -ितशत
जोड़कर ।
(iii)(क) उन सद(cid:17)य0 के मामले म? जो बक(cid:20) क सेवा स े 01.11.1997 (अवाड 7 (cid:17)टाफ) अथवा 01.04.1998 (पय7वेLी (cid:17)टाफ) के
-थम Iदन या उसके पbात सेवािनव/ृ 3ए ह0, 01.05.2005 को और उसके बाद स,े औcोिगक Mिमक0 हते ु अिखल
भारतीय औसत उपभोNा मूOय सूचकांक के ितमाही औसत म? 1960=100 क Mृंखला म? 1684 िब5दdु के ऊपर क 4 अकं 0
क -fयके वृि] हते ु महगं ाई राहत का भुगतान Iकया जाएगा या -fयके िगरावट हते ु महगं ाई राहत, जसै ा भी -करण हो, क
वसूली क जाएगी;
(ख) महगं ाई राहत म ?उN -fयके 4 िब5दdु हते ुइस विृ ] या िगरावट क गणना नीचे Iदए गए अनसु ार क जाएगीः-
h.स.ं मलू पश? न (cid:17)केल -ित माह मलू पश? न के -ितशत के Yप म? महगं ाई राहत क दर
(1) (2) (3)
(i) ` 3550 तक 0.24 -ितशत।
(ii) ` 3551 स े` 5650 तक ` 3550 का 0.24 -ितशत और ` 3550 से अिधक क मूल प?शन का
0.20 -ितशत जोड़कर ।
(iii) ` 5651 स े` 6010 तक ` 3550 का 0.24 -ितशत और ` 3550 और ` 5650 के बीच क मलू
प?शन का 0.20 -ितशत और ` 5650 से अिधक क मलू प?शन का 0.12
-ितशत जोड़कर ।
(iv) ` 6010 स ेअिधक ` 3550 का 0.24 -ितशत और ` 3550 और ` 5650 के बीच क मलू
प?शन का 0.20 -ितशत और ` 5650 और ` 6010 के बीच क मलू पश? न
का 0.12 -ितशत और ` 6010 स े अिधक मूल प?शन का 0.06 -ितशत
जोड़कर ।”
(ङ) उप-िविनयम (15) के (cid:17)थान पर, िनBिलिखत को -ित(cid:17)थािपत Iकया जाएगा, अथा7त –
“(15)(i) 1.11.2007 को सेवािनव/ृ हो चकु े या उसके पbात सेवािनवृ/ होन े वाले कम7चा*रय0 के संबंध म ? अिखल भारतीय
औसत Mिमक वग 7 उपभोNा मOू य सूचकाकं (सामा5य) आधार 1960=100 के ितमाही औसत म ? 2836 अंक0 स े अिधक क
हरेक 4 अंक0 क वृि] के िलए या हरेक िगरावट के िलए, जसै ा भी -करण हो, मलू पश? न के 0.15 -ितशत क दर से महगं ाई
राहत का भुगतान Iकया जाएगा या वसलू ी क जाएगी।¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 5
(ii)) 01.11.2012 को सेवािनवृ/ हो चकु े या उसके पbात सेवािनवृ/ होन े वाल े कम7चा*रय0 के संबंध म ? अिखल भारतीय
औसत Mिमक वग 7 उपभोNा मOू य सूचकाकं (सामा5य) आधार 1960=100 के ितमाही औसत म ? 4440 अंक0 स े अिधक क
हरेक 4 अंक0 क वृि] के िलए या हरेक िगरावट के िलए, जसै ा भी -करण हो, मलू पश? न के 0.10 -ितशत क दर से महगं ाई
राहत का भुगतान Iकया जाएगा या वसलू ी क जाएगी।
आर. जयरामन, मुiय महा-बंधक (मानव ससं ाधन)
[िव(cid:3)ाप-III/4/असाधारण/250/17]
(cid:14)(cid:14)(cid:14)(cid:14)टटटट(cid:15)(cid:15)(cid:15)(cid:15)पपपपणणणणःःःः मलू िविनयम भारत के राजपH, असाधारण, भाग-III, खंड 4 म ? 15.09.2014 क फा.स.ं सीडीओ/पीएम/16/
एसपीएल/1136 के तहत 18.09.2014 को -कािशत Iकए गए थ।े
STATE BANK OF INDIA
NOTIFICATION
Mumbai, the 4th October, 2017
No. BOD&GO/VKK/470.—In exercise of the powers conferred by sub-section (1) read with clause (o) of sub-
section (2) of section 50 of the State Bank of India Act, 1955 (23 of 1955), the Central Board of the State Bank of India,
after consultation with the Reserve Bank and with the previous sanction of the Central Government, hereby makes the
following regulations to amend the State Bank of India Employees’ Pension Fund Regulations, 2014, namely:—
1. (1) These regulations may be called the State Bank of India Employees’ Pension Fund (Amendment) Regulations,
2017.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the State Bank of India Employees’ Pension Fund Regulations, 2014, in regulation 23, —
(A) in sub-regulation (2), for the provisos, the following provisos shall be substituted, namely:—
“Provided that the maximum amount of pension shall be increased for the members who retired on or after the
1st November,1987, from rupees two thousand four hundred per month to rupees three thousand seven hundred seventy-
five per month (pro-rata in the case of part-time employees):
Provided further that the maximum amount of pension shall be increased for the members who retired or retire on
or after the 1st November, 1992 (Award Staff) or the 1st July, 1993 (Supervising Staff) from rupees two thousand four
hundred per month to rupees four thousand two hundred fifty per month (pro-rata in the case of part-time employees)
after adjustment of dearness allowance on the basic pay up to 1148 points in the quarterly average of the All India
Working Class Consumer Price Index (General) Base 1960=100:
Provided also that with effect from the 1st March, 1999 the maximum amount of pension for the members
who retired or retire drawing substantive salary in the Pay Scales effective from the 1st November, 1992 (Award
Staff) or the 1st July, 1993 (Supervising Staff) and thereafter shall be computed till further amendments in this
regard, as under―
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees eight thousand five hundred per month, fifty per cent. of the average of monthly substantive salary drawn during
the last twelve months’ pensionable service (pro-rata in the case of part-time employees); and
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees eight thousand five hundred per month, forty per cent of the average of monthly substantive salary drawn during6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
the last twelve months’ pensionable service subject to minimum of rupees four thousand two hundred fifty (pro-rata in
the case of part-time employees):
Provided also that with effect from the 1st November, 1997 (Award Staff) or the 1st April, 1998 (Supervising
Staff), the maximum amount of pension for the members who retired or retire drawing substantive salary in the Pay
Scales effective from the 1st November, 1997 (Award Staff) or the 1st April, 1998 (Supervising Staff) shall be computed,
by arriving at the corresponding stage by dividing the average basic pay by 1684 and multiplying it by 1616, till further
amendments in this regard, as under—
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees thirteen thousand six hundred sixty-six per month, fifty per cent. of the average of monthly substantive salary
drawn during the last twelve months’ pensionable service (pro-rata in the case of part-time employees); and
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees thirteen thousand six hundred sixty-six per month, forty per cent of the average of monthly substantive salary
drawn during the last twelve months’ pensionable service subject to minimum of rupees six thousand eight hundred
thirty-three (pro-rata in the case of part-time employees):
Provided also that with effect from the 1st May, 2005, the maximum amount of pension for the members who retired
or retire drawing substantive salary in the Pay Scales effective from the 1st November, 1997 (Award Staff) or the
1st April, 1998 (Supervising Staff) shall be computed, as under—
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees fourteen thousand two hundred forty per month, fifty per cent. of the average of monthly substantive salary drawn
during the last twelve months’ pensionable service (pro-rata in the case of part-time employees); and
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees fourteen thousand two hundred forty per month, forty per cent of the average of monthly substantive salary drawn
during the last twelve months’ pensionable service subject to minimum of rupees seven thousand one hundred twenty
(pro-rata in the case of part-time employees):
Provided also that with effect from the 1st May, 2005, the maximum amount of pension for the members who
retired or retire drawing substantive salary in the Pay Scales effective from the 1st November, 2002 shall be computed till
further amendments in this regard, as under—
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees twenty-one thousand forty plus Professional Qualification Pay plus Fixed Personal Pay per month, fifty per cent
of the average of monthly substantive salary drawn during the last twelve months’ pensionable service (pro-rata in the
case of part-time employees); and
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees twenty one thousand forty plus Professional Qualification Pay plus Fixed Personal Pay per month, forty per cent
of the average of monthly substantive salary drawn during the last twelve months’ pensionable service subject to
minimum of rupees ten thousand five hundred twenty plus half of Professional Qualification Pay plus half of Fixed
Personal Pay wherever applicable (pro-rata in the case of part-time employees):
Provided also that with effect from the 1st November, 2007, the maximum amount of pension for the members
who retired or retire drawing substantive salary in the pay scales effective from the 1st November, 2007 shall be
computed till further amendments in this regard, as under―
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees thirty-one thousand five hundred per month, at fifty per cent. of the average of monthly substantive salary drawn
during the last twelve months’ pensionable service plus half of Professional Qualification Pay plus half of increment
component of Fixed Personal Pay, wherever applicable (pro-rata in the case of part-time employees);
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees thirty-one thousand five hundred per month, at forty per cent. of the average of monthly substantive salary drawn
during the last twelve months’ pensionable service subject to minimum of rupees fifteen thousand seven hundred fifty
plus half of Professional Qualification Pay plus half of increment component of Fixed Personal Pay, wherever applicable
(pro-rata in the case of part-time employees):¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 7
Provided also that with effect from the 1st November, 2012, the maximum amount of pension for the members
who retired or retire drawing substantive salary in the Pay Scales effective from the 1st November, 2012 shall be
computed till further amendments in this regard, as under—
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees fifty-one thousand four hundred ninety per month, fifty per cent. of the average of monthly substantive salary
drawn during the last twelve months’ pensionable service plus half of Professional Qualification Pay plus half of
increment component of Fixed Personal Pay, wherever applicable (pro-rata in the case of part-time employees);
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees fifty-one thousand four hundred ninety per month, forty per cent. of the average of monthly substantive salary
drawn during the last twelve months’ pensionable service subject to minimum of rupees twenty-five thousand seven
hundred forty-five plus half of Professional Qualification Pay plus half of increment component of Fixed Personal
Pay, wherever applicable (pro-rata in the case of part-time employees).”;
(B) in sub-regulation (9), in clause (a), for the words and figures “In the case of members who ceased to be in the
Bank’s pensionable service from the 1st November 1987 to the 31st October 1993”, the following words, figures and
brackets “In the case of members who ceased to be in Bank’s pensionable service from the 1st November 1987 to the
31st October 1992 (Award Staff) or the 30th June, 1993 (Supervising Staff)” shall be substituted;
(C) in sub-regulation (10), in clause (a), for the words and figures “In the case of members who retire from the
Bank’s service on or after 1st November 1993”, the following words, figures and brackets “In the case of members
who retire from the Bank’s service on or after the 1st November 1992 (Award Staff) or the 1st July, 1993 (Supervising
Staff)” shall be substituted;
(D) for sub-regulation (12), the following shall be substituted, namely: —
“(12) (i) The Dearness relief shall be allowed on full basic pension even after commutation.
(ii)(a) in respect of employees who retired or retire on or after 1st November, 1997 (Award Staff) or the 1st April,
1998 (Supervising Staff), dearness relief shall be payable for every rise or be recoverable for every fall, as the case
may be, of every 4 points over 1616 points in the quarterly average of the All India Average Consumer Price
Index for Industrial Workers in the series 1960=100;
(b) such increase or decrease in dearness relief for every aforesaid four points shall be calculated in the manner
given below: -
Sl.No. Scale of basic pension per The rate of dearness relief as a percentage of basic pension
month
(1) (2) (3)
(i) up to Rs.3380 0.25 per cent.
(ii) Rs.3381 to Rs.5420 0.25 per cent of Rs.3380 plus 0.21 per cent of the basic pension in
excess of Rs.3380
(iii) Rs.5421 to Rs.5770 0.25 per cent of Rs. 3380 plus 0.21 per cent of the difference
between Rs.5420 and Rs.3380 plus 0.12 per cent of basic pension in
excess of Rs.5420
(iv) above Rs.5770 0.25 per cent of Rs.3380 plus 0.21 per cent of the difference
between Rs.5420 and Rs.3380 plus 0.12 per cent of the difference
between Rs.5420 and Rs.5770 plus 0.06 per cent of basic pension in
excess of Rs.5770
(iii)(a) on and from the 1st May, 2005, in respect of employees who retired or retire on or after the 1st November,
1997 (Award Staff) or the 1st April, 1998 (Supervising Staff), dearness relief shall be payable for every rise or be
recoverable for every fall, as the case may be, of every 4 points over 1684 points in the quarterly average of
the All India Average Consumer Price Index for Industrial Workers in the series 1960=100;
(b) such increase or decrease in dearness relief for every aforesaid four points shall be calculated in the
manner given below: -8 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
Sl.No. Scale of basic pension per The rate of dearness relief as a percentage of basic pension
month
(1) (2) (3)
(i) up to Rs.3550 0.24 per cent.
(ii) Rs.3551 to Rs.5650 0.24 per cent of Rs.3550 plus 0.20 per cent of the basic pension in excess
of Rs.3550
(iii) Rs.5651 to Rs.6010 0.24 per cent of Rs. 3550 plus 0.20 per cent of the difference between
Rs.5650 and Rs.3550 plus 0.12 per cent of basic pension in excess of
Rs.5650
(iv) above Rs.6010 0.24 per cent of Rs.3550 plus 0.20 per cent of the difference between
Rs.5650 and Rs.3550 plus 0.12 per cent of the difference between
Rs.6010 and Rs.5650 plus 0.06 per cent of basic pension in excess of
Rs.6010.”;
(E) for sub-regulation (15), the following shall be substituted, namely: —
“(15)(i) In respect of employees who retired or retire on or after the 1st November, 2007, dearness relief on pension shall
be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 2836 points in the
quarterly average of the All India Average Working Class Consumer Price Index (General) Base 1960=100 at 0.15 per
cent of the basic pension;
(ii) In respect of employees who retired or retire on or after 1st November, 2012, dearness relief on pension 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 Working Class Consumer Price Index (General) Base 1960=100 at 0.10 per
cent of the basic pension.”.
R. JAYARAMAN, Chief General Manager (HR)
[ADVT.-III/4/Exty./250/17]
Note : The principal regulations were published in the Gazette of India, Extraordinary, Part III, Section 4 dated the
18th September, 2014 vide F.No. CDO/PM/16/ SPL/1136 dated the 15th September, 2014.
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.