Full Text
REGD. No. D. L.-33004/99
The Gazette of India
CG-DL-E-03112025-267347
EXTRAORDINARY
PART III—Section 4
PUBLISHED BY AUTHORITY
No. 691]
NEW DELHI, TUESDAY, OCTOBER 28, 2025/ KARTIKA 6, 1947
No. 691]
PUNJAB NATIONAL BANK
NOTIFICATION
New Delhi, the 28th October, 2025
F. No.:HO:Pension/Misc./2025/(E).—In exercise of the powers conferred by clause (f) of sub-section (2) of
section 19 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970),the Board of
Directors of the Punjab National Bank,after consultation with the Reserve Bank of India and with theprevious sanction
of the Central Government, except as respects things done or omitted to be done in pursuance of the Government of
India, Ministry of Finance, Department of Financial Services, letter number 4/2/1/2022-IR, dated the 13th March,
2024, on and from the 1st November, 2022 till the date of publication of this notification in the Official Gazette,
hereby makes the following regulations further to amend thePunjab National Bank (Employees') Pension Regulations,
1995, namely:-
1. (1) These regulations may be called the Punjab National Bank(Employees') Pension (Amendment) Regulations,
2025.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In thePunjab National Bank (Employees') Pension Regulations, 1995 (hereinafter referred to as the said
regulations), inregulation 2, after clause (w), the following clause shall be inserted, namely:-
"(wa) 'resigned former employee' means an employee, who –
(a) was in the services of the Bank on or after the 1st January, 1986;
(b) joined the Bank before the 1st April, 2010;
(c) has resigned from the services of the Bank on or before the 26th April, 2010; and
(d) was otherwise eligible to join the pension scheme while in service of the Bank;".
3. In regulation 3 of the said regulations, after sub-regulation (14), the following shall be inserted, namely:-
"(15) qualifies the definition of resigned former employee defined in clause (wa) of regulation 2 and has agreed
to refund to the Bank the entire Banks' contribution to Provident Fund (along with accumulated interest thereon)
received by him at the time of resignation or later, from the Bank and has given an undertaking as per the draft
provided by the Bank within the time as stipulated by the Bank.".
4. In regulation 22 of the said regulations, in sub-regulation (1), after the proviso, the following proviso shall be
inserted, namely:-
"Provided further that resignation by a resigned former employee defined in clause (wa)of regulation 2, and who
also conforms to the conditions contained in sub-regulation (15) of regulation 3, shall not entail forfeiture of the
past service.".
5. In regulation 29 of the said regulations, -
(i) in sub-regulation (1), after the third proviso, the following proviso shall be inserted, namely:–
"Provided also that a resigned former employee as defined in clause (wa) of regulation 2 and conforming to the
conditions specified in sub-regulation (15) of regulation 3, shall also be entitled for pension provided he has
completed such qualifying service.";
(ii) in sub-regulation (5), the following proviso shall be inserted, namely: –
"Provided that the resigned former employee defined in clause (wa) of regulation 2 shall not be eligible for the
benefit of increase of such qualifying service.”.
6. In regulation 36 of the said regulations, after clause (g), the following clause shall be inserted, namely: -
"(h) rupees five thousand and seventy-five per month in respect of an employee, other than a part-time
employee, where the employee retired on or after the 1stNovember, 2022, rupees one thousand seven hundred
per month in respect of a part-time employee drawing 1/3 scale of wages, rupees two thousand five hundred and
forty seven per month in respect of part-time employee drawing ½ scale wages, and rupees three thousand eight
hundred and twenty per month in respect of a part-time employee drawing ¼ scale wages, where the part-time
employee retired on or after the 1stNovember, 2022.".
7. In regulation 39 of the said regulations, in sub-regulation (1), in clause (c), after the proviso, the following
proviso shall be inserted, namely:
"Provided further that family of a deceased resigned former employee as defined in clause (wa) of regulation 2
shall also be eligible for family pension provided that the deceased resigned former employee has completed
required qualifying service in the Bank under sub-regulation (1) of regulation 29, subject to the condition that
the deceased resigned former employee (before his death) or family member has agreed to refund to the Bank
the entire Bank's contribution to Provident Fund (along with accumulated interest thereon) received at the time
of resignation or later, from the Bank and has given an undertaking as per the draft provided by the Bank within
the time as stipulated by the Bank.".
8. In regulation 40 of the said regulations, in sub-regulation (1),–
(i) in clause (b), for the first proviso, the following proviso shall be substituted, namely:-
"Provided that the family pension payable to son ordaughter (including widowed ordivorced) shall be
discontinued ornot be admissible when the eligible son ordaughter starts earning a sum in excess of rupees
eighteen thousand per month from employment in Government orPrivate Sector orself-employment etc.:";
(ii) for clause (c), the following clause shall be substituted, namely:
"(c) in the case of parents, the family pension shall be discontinued ornot be admissible, if the income of one of
the parents or the aggregate income of both the parents from employment in Government orPrivateSector or
self-employment, etc. exceeds rupees eighteen thousand per month.”.
9. In regulation 41 of the said regulations, in sub-regulation (1), after the proviso, the following proviso shall be
inserted, namely:-
"Provided further that a resigned former employee as defined in clause (wa) of regulation 2 and who conforms
to conditions contained in sub-regulation (15) of regulation 3, shall not be eligible for commutation of his
pension.".
10. In regulation 55 of the said regulations, for the words "The Chairman and Managing Director", the words "The
Managing Director and Chief Executive Officer" shall be substituted.
11. In the said regulations, for Appendix – II, the following Appendix shall be substituted, namely:-
"Appendix-II
(See regulation 37)
Dearness relief on basic pension shall be as under:
(1) In the case of employees who were in the workmen cadre and who retired on or after the 1stJanuary, 1986, but
before the 1stNovember, 1992, and in the case of employees, who were in the officers' cadre and who retired on
or after the 1stJanuary, 1986, but before the 1stJuly, 1993, dearness relief shall be payable for every rise or be
recoverable for every fall, as the case may be, of every 4 points over 600 points in the quarterly average of the
All India Average Consumer Price Index for Industrial Workers in the series 1960 = 100. Such increase or
decrease in dearness relief for every said 4 points shall be calculated in the manner provided in the following
Table, namely:-
Table
Rate of dearness relief as a percentage of basic pension
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| Sl. No.| Scale of basic pension | Rate of dearness relief as a percentage of basic pension |
| | per month | |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| (1) | (2) | (3) |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| 1. | Upto Rs.1250 | 0.67 per cent. |
| 2. | Rs.1251 to Rs.2000 | 0.67 per cent. of Rs.1250 plus 0.55 per cent. of basic pension in excess of Rs.1250 |
| 3. | Rs.2001 to Rs.2130 | 0.67 per cent. of Rs.1250 plus 0.55 per cent. of the difference between Rs.2000 and Rs.1250 plus 0.33 per cent. |
| | | of basic pension in excess of Rs.2000 |
| 4. | Above Rs.2130 | 0.67 percent. of Rs.1250 plus 0.55 percent. the difference between Rs.2000 and Rs.1250 plus 0.33 per cent. of the |
| | | difference between Rs.2130 and Rs.2000 plus 0.17 per cent. of basic pension in excess of Rs.2130: |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
Provided that on and from the 1st October, 2023, dearness relief shall be payable at a uniform rate of 0.67 per
cent. per slab over 600 points in the quarterly average of the All India Average Consumer Price Index for Industrial
Workers in the series 1960 = 100:
Provided further that on and from the 1st October, 2023, in addition to the dearness relief provided in the
Table above, ex-gratia amount as specified in the Table below shall also be payable.
Table
+--------+--------------------------+-----------------+
| Sl. No.| Basic pension | Ex-gratia amount|
+--------+--------------------------+-----------------+
| (1) | (2) | (3) |
+--------+--------------------------+-----------------+
| 1. | Upto Rs 1250/- | Rs 800/- per month|
| 2. | From Rs 1251/- to Rs 2000/-| Rs 450/- per month|
+--------+--------------------------+-----------------+
(2) In the case of employees who are in workmen cadre and who retire on or after the 1stNovember, 1992, and in
the case of employees who are in the officers' cadre, and who retire on or after the 1stJuly, 1993, dearness relief
shall be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 1148
points in the quarterly average of All India Average Consumer Price Index for Industrial Workers in the series
1960 = 100. Such increase or decrease in dearness relief for every said 4 points shall be calculated in the
manner provided in the following Table, namely:-
Table
Rate of dearness relief as a percentage of basic pension
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| SI. No.| Scale of basic pension | Rate of dearness relief as a percentage of basic pension |
| | per month | |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| (1) | (2) | (3) |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| 1. | Upto Rs.2400 | 0.35 per cent. |
| 2. | Rs.2401 to Rs.3850 | 0.35 percent. of Rs.2400 plus 0.29 percent. of basic pension in excess of Rs.2400 |
| 3. | Rs.3851 to Rs.4100 | 0.35 percent. of Rs.2400 plus 0.29 percent. of the difference between Rs.3850 and Rs.2400 plus 0.17 percent. |
| | | of basic pension in excess of Rs.3850 |
| 4. | above Rs.4100 | 0.35 per cent. of Rs.2400 plus 0.29 per cent. of the difference between Rs.3850 and Rs.2400 plus 0.17 per cent. |
| | | of the difference between Rs.4100 and Rs.3850 plus 0.09 per cent. of basic pension in excess of Rs.4100: |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
Provided that on and from the 1st October, 2023, dearness relief shall be payable at a uniform rate of 0.35 per
cent. per slab over 1148 points in the quarterly average of the All India Average Consumer Price Index for Industrial
Workers in the series 1960=100:
Provided further that on and from the 1st October, 2023, in addition to the dearness relief provided in the
Table above, ex-gratia amount as specified in the Table below shall also be payable.
Table
+--------+--------------------------+-----------------+
| Sl. No.| Basic pension | Ex-gratia amount|
+--------+--------------------------+-----------------+
| (1) | (2) | (3) |
+--------+--------------------------+-----------------+
| 1. | Upto Rs 2400/- | Rs 800/- per month|
| 2. | From Rs 2401/- to Rs 3850/-| Rs 450/- per month|
+--------+--------------------------+-----------------+
(3) In the case of employees who retire on or after the 1stApril, 1998, dearness relief shall be payable for every rise
or be recoverable for every fall, as the case may be, of every 4 points over 1616 points in the quarterly average
of the All India Average Consumer Price Index for Industrial Workers in the series 1960=100. Such increase or
decrease in dearness relief for every said 4 points shall be calculated in the manner provided in the following
Table, namely:-
Table
Rate of dearness relief as a percentage of basic pension
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| SI. No.| Scale of basic pension | Rate of dearness relief as a percentage of basic pension |
| | per month | |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| (1) | (2) | (3) |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| 1. | Upto Rs.3380 | 0.25 per cent. |
| 2. | Rs.3381 to Rs.5420 | 0.25 per cent. of Rs.3380 plus 0.21 percent. basic pension in excess of Rs.3380 |
| 3. | Rs.5421 to Rs.5770 | 0.25 per cent. of Rs.3380 plus 0.21 percent. of the difference between Rs.5420 and Rs.3380 plus 0.12 per cent. |
| | | of basic pension in excess of Rs.5420 |
| 4. | Above Rs.5770 | 0.25 per cent. of Rs.3380 plus 0.21 percent. of the difference between Rs.5420 and Rs.3380 plus 0.12 per cent. |
| | | of the difference between Rs.5770 and Rs.5420 plus 0.06 per cent. of basic pension in excess of Rs.5770: |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
Provided that on or from the 1stMay, 2005 in the case of employees, who retire on or after the 1stApril 1998 but on or
before the 31stOctober, 2002, dearness relief shall be payable for every rise or be recoverable for every fall, as the
case may be, of every 4 points over 1684 points in the quarterly average of the All India Average Consumer Price
Index for Industrial Workers in the series 1960=100. Such increase or decrease in dearness relief for every said 4
points shall be calculated in the manner provided in the following Table, namely:-
Table
Rate of dearness relief as a percentage of basic pension
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| Sl. No.| Scale of basic pension | Rate of dearness relief as a percentage of basic pension |
| | per month | |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| (1) | (2) | (3) |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| 1. | Upto Rs.3550 | 0.24 per cent. |
| 2. | Rs.3551 to Rs.5650 | 0.24 per cent. of Rs.3550 plus 0.20 per cent. basic pension in excess of Rs.3550 |
| 3. | Rs.5651 to Rs.6010 | 0.24 per cent. of Rs.3550 plus 0.20 per cent. of the difference between Rs.5650 and Rs.3550 plus 0.12 of basic |
| | | pension in excess of Rs.5650 |
| 4. | Above Rs.6010 | 0.24 per cent. of Rs.3550 plus 0.20 per cent. of the difference between Rs.5650 and Rs.3550 plus 0.12 per cent. |
| | | of the difference between Rs.6010 and Rs.5650 plus 0.06 per cent. of basic pension in excess of Rs.6010: |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
Provided further that on and from the 1st October, 2023, dearness relief shall be payable at a uniform rate of
0.24 per cent. per slab over 1684 points in the quarterly average of the All India Average Consumer Price Index for
Industrial Workers in the series 1960=100:
Provided also that on and from the 1st October, 2023, in addition to the dearness relief provided in the Table
mentioned above, ex-gratia amount as specified in the Table below shall also be payable.
Table
+--------+--------------------------+-----------------+
| Sl. No.| Basic pension | Ex-gratia amount|
+--------+--------------------------+-----------------+
| (1) | (2) | (3) |
+--------+--------------------------+-----------------+
| 1. | Upto Rs 3550/- | Rs 800/- per month|
| 2. | From Rs 3551/- to Rs 5650/-| Rs 450/- per month|
+--------+--------------------------+-----------------+
(4) In respect of employees who retire on or after the 1st May, 2005, dearness relief shall be payable for every rise
or be recoverable for every fall, as the case may be, of every 4 points over 2288 points in the quarterly average
of the All India Average Consumer Price Index for Industrial Workers in the series 1960=100. Such increase or
decrease in dearness relief for every said 4 points shall be calculated at the rate of 0.18 percent. of basic pension:
Provided that on and from the 1stMay, 2005, in respect of employees who retired on or after the
1stNovember, 2002 but on or before the 30thApril, 2005, dearness relief shall be payable in terms of this clause:
Provided further that in respect of employees who retired on or after the 1stNovember, 2007, dearness relief
shall be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 2836 points
in the quarterly average of the All India Average Consumer Price Index for Industrial Workers in the series 1960=100.
Such increase or decrease in dearness relief for every said 4 points shall be calculated at the rate of 0.15 percent. of
basic pension:
Provided also that in respect of employees who retired on or after the 1stNovember, 2012, dearness relief
shall be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 4440 points
in the quarterly average of the All India Average Consumer Price Index for Industrial Workers in the series 1960=100.
Such increase or decrease in dearness relief for every said 4 points shall be calculated at the rate of 0.10 percent. of
basic pension:
Provided also that in respect of employees who retired on or after the 1stNovember, 2017, dearness relief
shall be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 6352 points
in the quarterly average of the All India Average Consumer Price Index for Industrial Workers in the series 1960=100.
Such increase or decrease in dearness relief for every said 4 points shall be calculated at the rate of 0.07 percent. of
basic pension:
Provided also that in respect of employees who retired on or after the 1stNovember, 2022, dearness relief
shall be payable at 1 per cent. per percentage point of Index on the Basic pension for every variation of rise or fall
over 123.03 points in the quarterly average of the All India Consumer Price Index for Industrial Workers Base
2016-100.
(5) Dearness relief shall be payable for the half year commencing from the 1stFebruary and ending with the
31stJuly on the quarterly average of the index figures published for the months of October, November and
December of the previous year and for the half year commencing from the 1st August and ending with the
31stJanuary on the quarterly average of the index figures published for the months of April, May and June of the
same year.
(6) In the case of family pension, invalid pension and compassionate allowance, dearness relief shall be payable in
accordance with the rates mentioned above.
(7) Dearness relief will be allowed on full basic pension even after commutation.
(8) Dearness relief is not payable on additional pension.
(9) Pensioner whose basic pension is less than minimum pension but the aggregate of basic pension and additional
pension is more than the minimum pension shall draw dearness relief as applicable to minimum pension.".
12. In the said regulations, for Appendix-III, the following Appendix shall be substituted, namely:
"Appendix-III
(See regulation 39)
On and from the 1stApril, 2021, the ordinary rates of family pension shall be as under:
(a) In respect of employees other than part-time employees, where the employee was in the workmen cadre and
retired before the 1st November, 1992 or where the employee was in the officers' cadre and retired before the
1st July, 1993:-
Amount of monthly family pension
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| Sl.No. | Scale of Pay per | Amount of monthly family pension |
| | month | |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| (1) | (2) | (3) |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| 1. | Upto Rs.1500 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to minimum of Rs.375 per |
| | | month. |
| 2. | Rs.1501 to Rs.3000 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.450 per |
| | | month. |
| 3. | Above Rs.3000 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowance, which are |
| | | counted for making contribution to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.600 per |
| | | month. |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
(b) In respect of employees other than part-time employees, where the employee was in the workmen
cadre and retired on or after the 1stNovember, 1992 or where the employee was in the
officers' cadre and retired on or after the 1stJuly, 1993:-
Amount of monthly family pension
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| Sl.No. | Scale of Pay per | Amount of monthly family pension |
| | month | |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| (1) | (2) | (3) |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| 1. | Upto Rs.2870 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.720 per |
| | | month. |
| 2. | Rs.2871 to Rs.5740 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.860 per |
| | | month. |
| 3. | Above Rs.5740 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.1150 per |
| | | month. |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
(c) In respect of employees (both officers and workmen) other than part-time employees retiring on or after the
1st April, 1998:-
Amount of monthly family pension
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| Sl.No. | Scale of Pay per | Amount of monthly family pension |
| | month | |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| (1) | (2) | (3) |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| 1. | Upto Rs.4040 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.1015 per |
| | | month. |
| 2. | Rs.4041 to Rs.8080 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.1212 per |
| | | month. |
| 3. | Above Rs.8080 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.1616 per |
| | | month: |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
Provided that on and from the 1st May, 2005 in respect of the employees (both officers and workmen), other
than part time employees, who retired on or after the 1st April, 1998 but on or before the 31st October, 2002, the
ordinary rate of family pension shall be as under:-
Amount of monthly family pension
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| Sl.No. | Scale of Pay per | Amount of monthly family pension |
| | month | |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| (1) | (2) | (3) |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| 1. | Up to Rs.4210 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs. 1056 per |
| | | month. |
| 2. | Rs.4211 to Rs.8420 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.1262 per |
| | | month. |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
(d) In respect of employees (both officers and workmen) other than part-time employees retiring on or after the
1stMay, 2005:-
Amount of monthly family pension
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| Sl.No. | Scale of Pay per | Amount of monthly family pension |
| | month | |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| (1) | (2) | (3) |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| 1. | Upto Rs.5720 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum Rs.1435 per |
| | | month. |
| 2. | Rs.5721 to Rs.11,440 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to minimum of Rs.1715 per |
| | | month. |
| 3. | Above Rs.11,440 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.2292/- |
| | | per month: |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
Provided that on and from the 1st May, 2005, in respect of employees who retired on or after the 1st
November, 2002 but on or before the 30th April, 2005, ordinary rates of family pension shall be in terms of this
clause.
(e) In respect of employees (both officers and workmen) other than part-time employees retiring on or after the
1stNovember, 2007:-
Amount of monthly family pension
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| Sl.No. | Scale of Pay per | Amount of monthly family pension |
| | month | |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| (1) | (2) | (3) |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| 1. | Upto Rs.7090 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.1779 per |
| | | month. |
| 2. | Rs.7091 to Rs.14,180 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.2186 per |
| | | month. |
| 3. | Above Rs.14,180 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.2841 per |
| | | month. |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
(f) In respect of employees (both officers and workmen) other than part-time employees retiring on or after the
1stNovember, 2012:-
Amount of monthly family pension
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| Sl.No. | Scale of Pay per | Amount of monthly family pension |
| | month | |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| (1) | (2) | (3) |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| 1. | Upto Rs.11,100 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.2785 per |
| | | month. |
| 2. | Rs.11,101 to Rs.22,200 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.3422 per |
| | | month. |
| 3. | Above Rs.22,200 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.4448 per |
| | | month. |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
(g) In respect of employees (both officers and workmen) other than part-time employees retiring on or after the 1st
November, 2017:-
Amount of monthly family pension
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| Sl.No. | Scale of Pay per | Amount of monthly family pension |
| | month | |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| (1) | (2) | (3) |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| 1. | Upto Rs.15,880 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.3985 per |
| | | month. |
| 2. | Rs.15,881 to Rs.31,760 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.4900 per |
| | | month. |
| 3. | Above Rs.31,760 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances, which are |
| | | counted for making contributions to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.6365 per |
| | | month. |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
(h) In respect of employees (both officers and workmen) other than part-time employees retiring on or after the 1st
November, 2022:-
Amount of monthly family pension
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| Sl.No. | Scale of Pay per | Amount of monthly family pension |
| | month | |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| (1) | (2) | (3) |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
| 1. | Upto Rs.20,220 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowance, which are |
| | | counted for making contribution to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.5075 per |
| | | month. |
| 2. | Rs.20,221 to Rs.40,440 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowance, which are |
| | | counted for making contribution to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.6240 per |
| | | month. |
| 3. | Above Rs.40,440 | 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowance, which are |
| | | counted for making contribution to provident fund but not for dearness allowance, shall be the additional family |
| | | pension: |
| | | Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.8105 per |
| | | month.". |
+--------+--------------------------+-----------------------------------------------------------------------------------------------------------------+
SUMESH KUMAR, Chief General Manager
[ADVT.-III/4/Exty./425/2025-26]
Note: The Punjab National Bank(Employees') PensionRegulations, 1995 were published in the Gazette of India, Part
III, section 4 vide notification numberPNB/IR/1/95, dated the 29th September, 1995 and was last amended
videnotification number HO: Pension/Misc/2024 (E), dated the 28th June, 2024.
EXPLANATORY MEMORANDUM
Theseregulations which have been given retrospective effect are as per the agreed terms and conditions of
the settlements and Joint Notes signed between the Indian Banks' Association on behalf of member banks on the
basis of specific mandate given by the respective banks in this regard and apex level workmen Unions and
Officers' Associations of the banks. Therefore, interests of no person shall be adversely affected by such
retrospective effect.
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and Published by the Controller of Publications, Delhi-110054.