SBI saff to get 50 per cent of average pay as pension

Special Correspondent

NEW DELHI: The Government on Monday clarified that the State Bank of India (SBI) employees would get 50 per cent of their average pay up to Rs. 21,040 as pension. This follows the settlement between the Government and the Bank unions on Sunday.

Employees getting an average salary above Rs. 21,040 would get 40 per cent as pension with a minimum of Rs. 10,520 as per the revised pay scales prescribed in the bipartite settlement, an official release here said.

Professional qualification pay, if any, would also be included for calculating pension up to the average pay of Rs. 21,040 per month, the release added.