At a press conference post the launch of EASE 4.0, in Mumbai, Finance Secretary Debashish Panda announced changes to the pension payouts of Public Sector Banks.
The changes instituted are set to increased the pension payout to bank employees, with all of them set to get an even 30% of their pay.
The Centre has also asked banks to increase the employer contribution to the pension corpus to 14%, from the current 10%.
“Pension payouts to bank employees could increase to Rs 30,000-Rs 35,000 from the earlier cap of Rs 9284,” Panda said.
