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"HAPPY BIRTHDAY"

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Happy Birthday-13th OCTOBER 2017(FRIDAY)
"HAPPY BIRTHDAY-13TH OCTOBER 2017(FRIDAY) JASWINDER PAL SINGH SENIOR SPL ASSISTANT DON KALAN Jag Bhushan SR. ASST. (BANKING) AMBALA CANTT Jag Bhushan SR. ASST. (BANKING) AMBALA CANTT Om Parkash Sikri DEPUTY MANAGER ISMAILA BALDEV RAJ Addl. Associate 1 HANSLI BRIDGE, BATALA Ramesh Kumar SR. ASST. (BANKING) SME BRANCH, CHANDIGARH VEENA PACHPORE Addl. Associate 1 SEC 35-C, CHANDIGARH Ashok Kumar Goyal DEPUTY MANAGER ZONAL OFFICE HARYANA-GENERAL BANKING Kuldeep Kumar Sharma DEPUTY MANAGER ZONAL OFFICE JAMMU Jaswinder Singh SENIOR SPL ASSISTANT TRIPRI PATIALA Dalbir Singh SR. ASST. (BANKING) UDHAMPUR Ambika Chugh ASSISTANT MANAGER AMBALA CITY Sushma Gupta SR. ASST. (BANKING) CHANDI MANDIR Sushma Gupta SR. ASST. (BANKING) CHANDI MANDIR Parveen Kumar Sharma ASST. GEN. MANAGER NRI JULLUNDER HEM SINGH Addl. Associate 1 KASAULI MANJINDER SINGH RANDHAWA ASSISTANT MANAGER ANAJ MANDI, SIRHIND MANDI ASHUTOSH JAIN Addl. Associate 1 ADB MALERKOTLA DEEP CHAND MANAGER LOHAKA Raj Kumar Bhagat DEPUTY MANAGER BHOGPUR SATISH KUMAR Addl. Associate 1 AMBALA ROAD, ISMAILABAD SATISH KUMAR Addl. Associate 1 AMBALA ROAD, ISMAILABAD MUNISH BALI Addl. Associate 1 BANKING OPERATIONS DEPARTMENT-HEAD OFFICE PATIALA Nitin Soni DEPUTY MANAGER ZONAL OFFICE HARYANA-GENERAL BANKING SANJEEV BHATIA ASSISTANT MANAGER BEESLA Sudhir Kumar DEPUTY MANAGER REWARI Gurupdesh Kaur CUST. ASST. (BANKING) ROPAR PAYAL MEHTA Addl. Associate 1 GHUMAR MANDI, LUDHIANA AMIT RAJ DEPUTY MANAGER HO PATIALA -OUTREACH/FINACIAL INCLUSION DEPTT Nitin Sharma DEPUTY MANAGER(S) ROHRU AMRITA DEEPAK Addl. Associate 2 JALANDHAR ZONAL OFFICE-RO-I JALANDHAR -ADMIN JASWANT SINGH ASSISTANT MANAGER S.A. JAIN COLLEGE, AMBALA CITY Vikas Goyal CUST. ASST. (BANKING) MANSA PANKAJ KUMAR TAMTA DEPUTY MANAGER NOORMAHAL ROAD ,PHILLAUR SIMRANJEET SINGH CUST. ASST. (BANKING) SPECIALISED AGRI COMM BR, PATIALA AVINASH KUMAR Addl. Associate 1 ABLU RIGZIN GURMETH ASSISTANT MANAGER ALSINDI Deepshikha . CLERICAL - ON PROB. MOHALI (S.A.S. NAGAR) Rohit Dutta CUST. ASST. (BANKING) NEAR KHUSHI TRADES, SECTOR-11, PANCHKULA ANKIT . ASST. (BANKING) N.G.M. JIND Rohit Dutta CUST. ASST. (BANKING) NEAR KHUSHI TRADES, SECTOR-11, PANCHKULA ANKIT . ASST. (BANKING) N.G.M. JIND SUNIL KUMAR ASST. (BANKING) GHAGA Sandeep Dhillon ASSISTANT MANAGER AMRITSAR Ram . Kishan CUST. ASST. (BANKING) NAKODAR ROAD, JALANDHAR Amandeep Sharma CLERICAL - ON PROB. NANGAL BHUR *** table>

Sunday, 7 June 2015

AIBEA Circular No.27/133/2015/29, dtd 06.06.2015 - Revised Pension & Commutation

Dear Comrades,  

10th Bipartite Settlement – Revised Pension & Commutation
for those retired between 1.11.2012 and 25.5.2015

Since 10th Bipartite Settlement is effective from 1.11.2012, employees who have retired after 1.11.2012 are eligible to receive the arrears of the revised emoluments from 1.11.2012 till date of retirement.  In addition, they are also eligible for revised pension and commutation and the difference amount will be paid to them.

Since the Basic Pay / Pay has been substantially increased due to merger of DA upto 4440 points, the Basic Pension also stands increased accordingly.  On account of this, while the commutation amount would be increased substantially, the quantum of pension after such commutation would stand reduced to that extent.


Hence, a special provision has been added in the Bipartite Settlement (Clause 15) as under:

“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”.

Hence such retired employees can exercise their option either (1) to receive the arrears of commutation and reduced pension or (2) not claim the arrears of  COMMUTATION and receive higher monthly pension.

The example given herein would explain the position clearly and would help such retirees to exercise their option as they desire.

With greetings,

Yours Comradely,


PENSION – COMMUTATION UNDER 10TH BPS 
FOR THOSE WHO RETIRED BETWEEN 1-11-2012 TILL 25-5-2015

                      EXAMPLE:       SENIOR SPL. ASSST WITH GRAD/CAIIB AT 8TH STG. INCRMENET – IN A CENTRE 45 LACS & ABOVE -  RETIRED ON 31-1-2014

9TH BPS
10TH BPS
BASIC PAY AT MAX
24,900
40,710
SPL. ASST PAY
1,180
1,930
PQP
1,230
2,010
FPP – INCREMENT PORTION
800
1,310
TOTAL  PAY
28,110
45,960
BASIC PENSION – 50 %
14,055
22,980
DA FOR MAY 2015 – 110.10%  /  33.30 %
15,475
7,652
TOTAL PENSION – without Commutation
29,530
30,632
INCREASE IN PENSION

1102



COMMUTED PENSION      1/3 OF  14055 / 22980
4685
7660
COMMUTATION AMOUNT
515,518
901,735
ARREARS OF COMMUTATION PAYABLE

386,217
BALANCE  2/3  BASIC PENSION
9370
15,320
DA ON FULL BASIC PENSION
15,475
7,652
PENSION FOR MAY, 2015
24,845
22,972
REDUCTION IN PENSION DUE TO INCREASED COMMUTATION

1,873
PENSION RECOVERABLE FROM  FEB. 2014 TO MAY 2015
Feb. to July 2014 : 2000 x 6 = 12000
Aug to Jan 2015  : 1969 x 6 = 11814
Feb to May 2015 : 1873 x 4 =  7492


31,306
Arrears after adj. of pension recovery :   3,86,217 – 31,306

354,911
MONTHLY INTEREST On EXTRA COMMUTATION @ 10% P.A.

2,957
REDUCTION IN PENSION

1,873

IF THIS RETIREE EXERCISES OPTION NOT TO CLAIM THE INCREMENTAL COMMUTATION   

Received under 9thBPS
Receivable  under 10thBPS
Pay
28110
45,960
Basic pension
14,055
22,980
1/3  Basic pension commuted
4,685
(no change)         4685
Commutation amount
515,518
(no change)    515,518
2/3 Basic pension
9,370
 18,295
DA – May, 2015 on 14055/22980
15,475
7,652
Total Pension
24,845
25,947
Increase in Pension

1,102
There will no change in commutation amount, but monthly pension will increase

EXAMPLE:   DAFTARY AT 8TH STG. INCRMENET – IN A CENTRE 45 LACS & ABOVE                  RETIRED ON 31-1-2014

9TH BPS
10TH BPS
BASIC PAY AT MAX
14,150
23,785
SPL. ASST PAY
340
560
FPP – INCREMENT PORTION
400
655
TOTAL  PAY
14,890
24,345
BASIC PENSION – 50 %
7,445
12,172
DA FOR MAY 2015 – 110.10%  /  33.30 %
8,197
4.053
TOTAL PENSION  -  without Commutation
15,642
16,225
INCREASE IN PENSION

583



COMMUTED PENSION      1/3 OF  7455 / 12172
2,482
4,057
COMMUTATION AMOUNT
292,181
477,590
ARREARS OF COMMUTATION PAYABLE

185,409
BALANCE  2/3  BASIC PENSION
4,963
8,115
DA ON FULL BASIC PENSION i.e. 7455 / 12172
8,197
4,053
PENSION FOR MAY, 2015
13,160
12,198
REDUCTION IN PENSION DUE TO INCREASED COMMUTATION

992
PENSION RECOVERABLE FROM  FEB. 2014 TO MAY 2015
Feb. to July 2014 :   1120  x 6 = 6720
Aug to Jan 2015  :    1042 x 6 =  6252
Feb to May 2015 :      992 x 4 = 3968



16,940
Arrears after adj. of pension recovery :   185,409 – 16,940

168,469
MONTHLY INTEREST On EXTRA COMMUTATION @ 10% P.A.

     1404
REDUCTION IN PENSION

       992


IF THIS RETIREE EXERCISES OPTION NOT TO CLAIM THE INCREMENTAL COMMUTATION   

Received under 9thBPS
Receivable  under 10thBPS
Pay
14,890
      24,345
Basic pension
7,445
      12,172
1/3  Basic pension commuted
2,482
(no change)     2,482   
Commutation amount
292,181
(no change)  292,181 
2/3 Basic pension
4,963
       9,690
DA – May, 2015 on 7445 / 12172
8,197
      4,053
Total Pension
13,160
     13,743
Increase in Pension

         583
There will no change in commutation amount, but monthly pension will increase

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