Name of the Organization : State Bank of India Officers' Association
Type of Facility : Family Pension Scheme
Location : Mumbai Circle

Website : http://sbioamumbai.org/

To view all posts related to <sbi.co.in>
State Bank of India Officers' Association, Mumbai Circle :
Our Objectives :
** To organize and unite all Supervising Staff of the State Bank of India working within the area of operation of Mumbai Circle, and to ensure proper working conditions for them.
** To redress grievances of members against the management.
** To endeavor to provide legal assistance to members in respect of matters arising out of or incidental to their employment.
** To edit and publish periodicals voicing the grievances of the Bank Officers and interalia containing matters of interest to them and other persons interested in the Banking industry

Admin Login : http://sbioamumbai.org/adminpanel.aspx
Family Pension Scheme :
Spouse and children of officers who die in service or after retirement are eligible for family pension on the following basis :-
i) If death occurs after one year of pensionable service but before the completion of 20 years of pensionable service (10 years in case of retirees on superannuation after 1.11.1993)

A) The family pension be revised w.e.f. 1.5.2005 as under Those who died or retired before 1.11.1993 :
Substantive salary p.m. :
Rs. 1500.00 and below Rs. 1501.00 to Rs. 3000.00
Above Rs. 3000.00

Rate of family pension p.m. :
30% of the substantive salary subject to minimum of Rs. 375.00 p. M.
20% of the substantive salary subject to a minimum of Rs. 450.00 p.m.
15% of the substantive salary to a minimum of Rs. 600.00 p.m. and maximum of Rs. 1250.00 p.m.

B) In respect of employees retired/died on or after 1.11.1993 but before 1.4.1998 :
Substantive salary p.m. :
Rs 2870.00 and below Rs. 2871.00 to Rs. 5740.00
Above Rs. 5740.00

C) Those retired/died on or after :
Substantive salary p.m. :
Rs 4210.00 and below
Rs. 4210.00 to Rs. 8420.00
Above Rs. 8420.00

D) Those retired/died on or after :
Substantive salary p.m. :
Rs 5720.00 and below Rs. 5720.00 to Rs.11440.00
Above As. 11440.00

Rate of family pension p.m. :
30% of the substantive salary subject to minimum of Rs. 720.00 p.m.
20% of the substantive salary subject to a minimum of Rs. 860.00 p.m.
15% of the substantive salary to a minimum of Rs. 1150.00 p.m. arid maximum of Rs. 2400.00 p.m.

1.4.1998 :
Rate of family pension p.m. :
30% of the substantive salary subject to minimum of Rs. 1056.00 p.m.
20% of the. substantive salary subject to a minimum of Rs. 1262.00 p.m.
15% of the substantive salary to a minimum of Rs. 1687.00 p.m. and maximum of Rs. 3521.00 p.m.

1.11.2002 and on or after 1.5.2005 :
Rate of family pension p.m. :
30% of the substantive salary subject to minimum of Rs. 1435.00 p.m.
20% of the substantive salary subject to a minimum of Rs. 1715.00 p.m.
15% of the. substantive salary to a minimum of Rs.2292.00 p.m. and maximum of Rs. 4784.00 p.m.

Note :
In the case of part time employees, the minimum and maximum amount of family pension shall be in proportion to the rate of scale wages drawn by the employee.

ii) If death occurs after 1 year of pensionable service :
Family pension at the rates mentioned in Clause (i) above.

iii) If death occurs after retirement but before expiry of 5 years :
a) For the balance period till the employee would have completed 5 years after retirement full pension that the officer was drawing immediately before his death.
b) Thereafter family pension at the rates mentioned in clause (i) above.

iv) If death occurs after 5 years of retirement; Family pension shall be payable to :
a) The widow during her life-time provided she does not remarry
b) If the wife has predeceased the pensioner to children in the order of dates of Birth. Son till he attains age of 25 years or is gainfully employed. To daughter till she attains 25 years of age or is gainfully employed or married whichever occurs first.

If the income from the employment in the case mentioned in (b) above is less than the family pension, which was being paid or would have become payable, the family pension to the extent of the shortfall will be payable.

State Bank of India :
Local Head Office ,
Ground Floor, C/6,
G Block Bandra Kurla Complex
Mumbai-400051

Tel : 022-67514042/44
Fax :022-67514043
I.P. : 102077