Dear Comrades,
| Reg: Revision in Family Pension and Minimum Pension of employees who retired on or after 1/11/2017 consequent upon the wage revision as per 11th Bipartite Settlement dated |
| 11.11.2020After the wage revision under 11th Bipartite Settlement, the amount of Family Pension, Minimum Pension and Pension for part time employees have to be revised. In the 11th BP Settlement, it has been agreed that subject to approval by the Government, Family Pension would be payable at the uniform rate of 30% and without any ceiling (as against existing 30%, 20% and 15% with ceilings). This has been duly taken up by the IBA with the Government and is under active consideration of the Government. The approval of the same is awaited.UFBU has already taken up the issue with IBA and the Government to expedite the approval.Pending the above, the IBA has now issued their Circular No. 9183 dated 12-4-2021 providing the revised rates of Family Pension, revised minimum amount of Pension payable w.e.f. 1-11-2017, and also the minimum Pension payable to Part Time employees.Copy of the IBA Circular is furnished herein for the information of our Units. |
With greetings,
Yours comradely,
C.H. VENKATACHALAM GENERAL SECRETARY