By Admin 
Salary Pension Increase News: There is news of great relief for thousands of people working and retired in the government sector. The income of employees and pensioners associated with institutions considered to be the backbone of the financial system is going to increase. Central Government Public Sector General Insurance Companies.
Salary pension revision of staff and pensioners associated with NABARD and Reserve Bank of India has been approved. This will have a direct impact on their monthly income as well as arrears. Now there will be a direct change in the budget of lakhs of families. Let us understand who is going to get how much benefit according to different sectors.
What is the big update in the pension of RBI pensioners?
This decision was awaited for a long time for the retired employees of Reserve Bank of India. The government has approved a 10 percent increase in RBI pension and family pension from November 1, 2022. After this change, the basic pension of eligible pensioners will reach approximately 1.43 times. This will clearly increase the amount they receive every month.
More than 30 thousand people will get the benefit of this decision, which includes both pensioners and family pensioners. The total expenditure on this revision is estimated to be around Rs 2696 crore, of which a major part will be for arrears payment. Overall, this decision is being considered not just as an increase for RBI pensioners but also as a long-term financial relief.
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How much benefit will NABARD employees and pensioners get?
The government has also approved salary and pension revision for the employees and pensioners associated with NABARD. This amendment will come into effect from 1 November 2022. Under this, the salary and allowances of Group A, B and C category employees will be increased by about 20 percent. This will directly benefit about 3800 current and former employees. NABARD’s annual salary expenditure will now increase by about Rs 170 crore.
Whereas the outstanding payment is estimated to be around Rs 510 crore. Under pension revision, lump sum arrears will also be given. Apart from this, there will be additional payment of crores of rupees every month in the monthly pension of pensioners and family pensioners. This clearly means that the financial condition of the retired people associated with NABARD will now become both stable and strong.
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How much change in salary of PSGIC employees?
This decision is considered very important for the employees working in public sector general insurance companies. The government has decided to implement their pay revision from August 1, 2022. Under this, there will be an increase of about 12.41 percent in the total salary structure. Which includes an increase of about 14 percent in basic pay and dearness allowance. More than 43 thousand employees will benefit from this.
For employees recruited after 2010, the government’s contribution to NPS has been increased to 14 percent. Due to which the security after retirement will be strengthened. Family pension has also been fixed at the new rate. Due to which the monthly income of thousands of families will increase. The government’s expenditure on this entire change will be in thousands of crores of rupees and a huge amount will be given as arrears.
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