10th Bipartite Settlement – Pension (including State Bank of India)

10th bipartite Settlement

10th Bipartite Settlement – Pension (including State Bank of India)

Pension (including State Bank of India)

With effect from 1st November 2012, the Pay as defined under Clause 6 of this Settlement and drawn by the employees who are members of the Pension Fund shall be taken into consideration for the purpose of calculation of pension as per the Pension Fund Rules/ Regulations in force.

Note: Employees in service of the Banks as on 1st November 2012 and who have retired thereafter but before 25th May 2015 and who had opted for commutation of pension will have an option not to claim incremental commutation on revised basic pension

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