PENSION AND COMMUTATION UNDER 10th BPS (RETIRED 1.112012 to 25.5.2015)

PM

unread,

Jun 7, 2015, 12:24:30 PM6/7/15

to bankpe...@googlegroups.com

For Information :

Copy of AIBEA CIRCULAR/27/133/2015/29 dated 6th June 2015 on revised Pension to post 1.11.2012 pensioners

10^th Bipartite Settlement – Revised Pension & Commutation

for those retired between 1.11.2012 and 25.5.2015

Since 10^th 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 1^st November, 2012 and who

Have retired thereafter but before 25^th 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.

-GS.AIBEA.

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

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

	9^TH BPS	10^TH 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 9^th BPS	Receivable under 10^th BPS
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 8^TH STG. INCRMENET – IN A CENTRE 45 LACS & ABOVE RETIRED ON 31-1-2014

	9^TH BPS	10^TH 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 9^th BPS	Receivable under 10^th BPS
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

ramiah narayanan

unread,

Jun 8, 2015, 12:06:46 AM6/8/15

to bankpe...@googlegroups.com

Dear Com,

Thank you so much for the kind information. I retired on December 2012. some of our friends say you will get the average 10 months pay as basic pension.( ie for Nov & Dec 2012 only you will get revised pension) other 8 months plus 2 months new pay will be added and average of it will be your new basic pension. Please inform whether it is correct or not.

Comradely yours,

N Ramiah

--
Visit our blog site http:://bankpensioner.blogspot.com
---
You received this message because you are subscribed to the Google Groups "bankpensioner" group.
To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.
Visit this group at http://groups.google.com/group/bankpensioner.
For more options, visit https://groups.google.com/d/optout.

jyotindra patel

unread,

Jun 8, 2015, 5:23:58 AM6/8/15

to bankpe...@googlegroups.com

Yes it is true you will be get average basic pay of last 10 months I. E.marrch2012 to october-2012 of basic payplus November -2012 to december-2012 reset basic pay decided by 10 equal to your avrage basic pay calculation of pention. I hope it is now clarify to you JYOTINDRA M PATEL UNION BANK OF INDIA

Sent from RediffmailNG on Android

Get your own FREE website, FREE domain & FREE mobile app with Company email.

Know More >

Barabari Prabhakar

unread,

Jul 7, 2015, 11:40:55 AM7/7/15

to bankpe...@googlegroups.com

I want to know the (new)DA rate as per 10 Bipartite settlement for pensioners from 1/11/2012 to 30/06/2015.Would you please any body can give the details

> To unsubscribe from this group and stop receiving emails from it, send an email to bankpensioner+unsubscribe@googlegroups.com.

> Visit this group at http://groups.google.com/group/bankpensioner.
> For more options, visit https://groups.google.com/d/optout.
>

>
>

--
> Visit our blog site http:://bankpensioner.blogspot.com
> ---
> You received this message because you are subscribed to the Google Groups "bankpensioner" group.

> To unsubscribe from this group and stop receiving emails from it, send an email to bankpensioner+unsubscribe@googlegroups.com.

mohan p

unread,

Jul 7, 2015, 1:13:43 PM7/7/15

to bankpensioner google

Dear Mr Barabari Prabhakaran

New DA rates w.e.f 1.11.2012 to July 2015 after merger of CPI 4440 are as follows.

Nov.12 Feb.13 Aug.13 Feb.14 Aug .14 Feb.15

10.90% 13.40 19.20 26.50 28.20 33.30%

> To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.

> Visit this group at http://groups.google.com/group/bankpensioner.
> For more options, visit https://groups.google.com/d/optout.
>

>
>

--
> Visit our blog site http:://bankpensioner.blogspot.com
> ---
> You received this message because you are subscribed to the Google Groups "bankpensioner" group.

> To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.

> Visit this group at http://groups.google.com/group/bankpensioner.
> For more options, visit https://groups.google.com/d/optout.
>
Get your own FREE website, FREE domain & FREE mobile app with Company email.
Know More >

--

Visit our blog site http:://bankpensioner.blogspot.com
---
You received this message because you are subscribed to the Google Groups "bankpensioner" group.

To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.

Mohandas Rao

unread,

Jul 7, 2015, 9:25:50 PM7/7/15

to bankpe...@googlegroups.com

The Present DA slabs for the 10th Bipartite Retirees is 333 slabs or 33.3%. It will change from August 2015.

> To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.

> Visit this group at http://groups.google.com/group/bankpensioner.
> For more options, visit https://groups.google.com/d/optout.
>

>
>

--
> Visit our blog site http:://bankpensioner.blogspot.com
> ---
> You received this message because you are subscribed to the Google Groups "bankpensioner" group.

> To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.

> Visit this group at http://groups.google.com/group/bankpensioner.
> For more options, visit https://groups.google.com/d/optout.
>
Get your own FREE website, FREE domain & FREE mobile app with Company email.
Know More >

--

Visit our blog site http:://bankpensioner.blogspot.com
---
You received this message because you are subscribed to the Google Groups "bankpensioner" group.

To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.

Vidyadhar Pachlangia

unread,

Jul 8, 2015, 3:10:42 AM7/8/15

to bankpe...@googlegroups.com

DA rates from 01/11/2012 to 31/07/2015 are given in the enclosed file.

V D Pachlangia

407, Balaji Tower-I,

Near Soni Manipal Hospital,

Sikar Road, Jaipur -302023
0141-2230790
9829266922

DA rates from Nov12 to July15.jpg

Reply all

Reply to author

Forward