SUBSIDY TOWARDS IBA GMI PREMIUM 2025-26

[MOHAN P]

For Information:

As we know,few banks used to allow subsidy to retirees those who subscribe to IBA group Medi Insurance policy every year.

BOB has granted subsidy of ₹10000 to ₹16000 based on premium amount this year.

We have also learnt that one of the private banks had allowed 100% subsidy on premium paid, last year.

Though amount varies,from bank to banks,  it is a great relief any way to retirees.

[Logu Kuppan]

Dear Sir, 

Any move taken to get psb retirees to get commutation period  reduced 10.8 years sir.

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[Rajender Sharma]

Sir,

The management of BOB deserves kudos for announcing

relief in the form of subsidy to the retirees on MIS policy.

PNB has followed suit  by granting a meagre relief of Rs3000/2500

only  which can best be described as peanuts.

It is difficult to understand as to where the Staff Welfare Fund

being maintained by the Banks  for welfare activities is spent.

The premium of working staff on MIS, who can easily bear it, is 

financed up to100% by the Banks but they have no money  

for the retirees on this account.

The simple explanation for this discrimination is that the

Bank retirees are a hapless lot who are of no use to the managements.

So why to waste money on them?

R K Sharma

[Prem Shankar Sharma]

Sir, 

P N B has also announce subsidy of ₹3000/-  to ₹2500/-

It is a big bank should review it decision toward upper side. 

 A reasonable amount shoud be 25% of the premium amount. 

On Sun, 4 Jan, 2026, 2:24 pm MOHAN P, <moha...@gmail.com> wrote:

[MOHAN P]

Mr Logu Kuppan,

Right now, there are no definitive Supreme Court verdicts, reducing the standard 15-year pension commutation recovery period to 10.8 years for Central Government employees or others.

Regards

Mohan.P

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[Logu Kuppan]

Thank you for your response. 

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[Nagaraj Tirumani Vemula]

06-01-2026  BANGALORE

REG.RECOVERY OF COMMUTED OENSION.

THERE IS DELIBERATE  AND EXCESS REOVERY OF COMMUTED PENSION.

THAT IS,  COMMUTED PENSION AMOUNT GIVEN TO A RETIREE IS  SAY,  RS.X  BUT TOTAL RECOVERY FROM THE RETIREE OVER 15 YEARS IS  MORE TAN X  SAY  2 X  OR 3 X  AND SO ON.

THERE IS AMBIGUITY IN RECOVERY OF COMMUTED PENSION.  THERE IS DELIBERATE PENSION LOSS TO A RETIREE.

SUCH RECOVERY  IS AGAINST SECTION  37  OF INDIAN CONTRACT ACT.

ALSI SUCH  ERRONEOUS PENSION AMOUNT IS  ULTRA VIRES OF SBI  PENSION FUND RULES.

AND ALSO SUCH AN ERROENOUS ACT DEFEATS THE VERY OBJECTIVE  OF   SNI  PENSION FUND RULES.

I HAVE FILED A CASE IN KARNATAKA HIGH COURT SEEKING JUSTICE IN THE MATTER.

INTERESTED RETIREES CAN CONTACT ME TO KNOW MORE ON THIS ISSUE.  

MY P.F. NO.1883070    RETIRED.

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[JSOMA SHEKARA]

If we demand reframing commutation recovery rules to reduce communication recovery period, we must also prepare for modification of entire commutation terms and conditions.

1. On the one hand we say the bank is recovering an excess amount of commutation.

2. But we must note that Banks are losing several crores of rupees due to the unfortunate early death of many pensioners before completion of the 15 years recovery period.

3. Our pension scheme is formed consequent to bipartite agreement between Banks and Unions.

4, Banks at any time may change rules in consultation with unions providing for recovery of commutation from family pension after the early death of the pensioners, commutation amount etc.

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[Kalyanasundaram Subramaniam]

I do not think it is a fit case to try.

 

The grant of commutation as well as recovery is as per Pension Regulation. Hence there is no violation by the banks. I do not understand how the recovery is in violation of Section 37 of Contract Act.

 

There is a concept of time value of money. Today’s 100 rupee and tomorrow’s 100 rupee is not the same. When the recovery of commuted portion is recovered in 15 years, how do you expect the bank to recover only the actual amount paid to you? You and I sleep every night. Money does not sleep. It adds interest over night.

 

I am not aware of any specific ground under SBI pension rules to try this case. There is no point in making unnecessary litigation which will involve your time and money.

 

Regards.

 

S Kalyanasundaram 

[nook raju]

In bank total period of recovery is 180 months or 15 years, if bank do not charges interest only principal amt recovers in 11 years 8 months so 10 years 8 month for recovery is not possible. Secondly when a pensioner dies during commutation recovery period in such case, balance amt write-off and not recovered by family pensioner these are the strong point to weaken our cade

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[MOHAN P]

Commutation of certain portion of pension at the time of retirement is voluntary.

 Knowing fully well that recovery period of such commuted value is  fifteen years  as per Bank Employees Pension Regulations,1995,there is no point in asking for reduction of the period later to lesser years which is  not legally  sustainable and merely because the amount is” mathematically recovered”

Few HCs have already rejected such cases filed by retirees.

While talking about the loss one tend to forget about the fact that recovery is not made from family pension allowed to spouse of pensioner.

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[krishna mohan nidumolu]

Why Contract Act come into picture.

Why you confuse Aged retirees with little knowledge of the issue. 

Pl kindly avoid. We have already filed cases in AP HIGH Court it is running now after obtained stay in October 2024.

Regards 

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[yogendra singhal]

The period and amount of recovery changes with prevailing  rate of interest even in contractual dealings. Recovering  commutation  beyond  12 years is unjustified. 

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[Chinnasamy Rajagopalan]

When agreements between parties themselves is⁹ held valid by many courts we cannot think of approaching the courts on reducing the petiod of recovery.Courts go by what is in black and white and this provison of commutation recovery period finds a place in pension regulation itself and courts may not rule against this

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