The Chairman and Managing Director of the Bank may from time to time issue instructions, as may be considered necessary or expedient for the implementation of these regulations.
56. Residuary provisions:
In case of doubt, in the matter of application of these regulations, regard may be had to the corresponding provisions of Central Civil Services Rules, 1972 or Central Civil Services (Commutation of Pension) Rules, 1981 applicable for Central Government employees with such exceptions and modifications as the Bank, with the previous sanction of the Central Government, may from time to time, determine.
61 APPENDIX – I37 (See Regulation 35)
1. The formula for updating basic pension and additional pension in respect of employees who retired during the period 01.01.1986 to 31.10.1987 shall be as under: -
(1) A. (a) 50 per cent of first Rs.1000 of the average emoluments reckonable for pension Rs._________
(b) 45 per cent of next Rs.500 Rs._________
(c) 40 per cent of the average emoluments reckonable for pension ceeding Rs.1500 Rs._________ Total of (a+b+c) Rs.__________(A) B. 50 per cent of the average monthly emoluments for the last 10 months in service prior to retirement Rs.__________(B) C. Dearness Relief at index number 600 in the All India Average Consumer Price Index for Industrial Workers in the series 1960=100, on basic pension calculated at (A) above, as per Table given below.
Rs.__________(C) D. Total basic pension =(B)+(C) x Number of years of qualifying service (Maximum of 33 years) 33 Rs.___________(D) E. Basic pension as on 01.11.1993 (Rounded off to the next higher rupee) Rs.___________(E)
(2) Special allowances to the extent of the amount ranking for making contributions to the Provident Fund in terms of the Bipartite Settlement dated 10th April, 1989 or Officers' Service Regulations, as the case may be, corresponding to the special allowances drawn at the time of retirement shall be reckoned for the purpose of additional pension.
37 Amended w.e.f. 30.11.2002 ref Circular No.265/2002 dated 24.12.2002 62 TABLE Rates of dearness relief worked out at index number 600 in the All India Average Consumer Price Index for Industrial Workers in the series 1960=100 for all classes of employees who retired during the period 01.01.1986 to 31.10.1987:
(a) Employees in subordinate staff cadre :
80.40 per cent of pension calculated at A (1) above.
(b) Employees in clerical staff cadre drawing pension upto Rs.756/-per month 67 per cent of pension calculated at A above.
(c) Employees in clerical staff cadre drawing pension of Rs.757/- per month and above will be eligible for dearness relief as under:
Amount of basic pension drawn per month Rs.
The amount of dearness relief admissible Rs.
757-796 797-804 805-824 825-844 845-864 865-884 885-904 905-924 925-944 945-964 965-984 985-1004 1005-1024 1025-1044 1045-1064 1065-1084 1085 above 508-00 534-00 540-00 553-00 567-00 580-00 593-00 607-00 620-00 634-00 647-00 660-00 674-00 687-00 701-00 714-00 727-00 63
(d) Employees in officer cadre shall be eligible for dearness relief as under:
[i] For those drawing basic pension Upto Rs.765/- per month 66 per cent of the amount of Pension calculated at A (1) above subject to a maximum of Rs.500/- [ii] For those drawing basic pension :
From Rs.766/- to Rs.1165/- per month Rs.500/- [iii] For those drawing basic pension Of Rs.1166/- per month or above;
42.90 per cent of amount of pension calculated as at A above Subject to a maximum of Rs.715/-.
2. The formula for updating basic pension in respect of workmen who have retired on or after the 1st day of November, 1992 but before the 1st day of September, 1993 and in respect of officers who have retired on or after the 1st of July, 1993 but before the 1st day of May, 1994 shall be as under: -
(1) Total of pay drawn as per the old scales for the month/s during the last 10 months of qualifying service.
Rs.
(2) Total of dearness allowance actually drawn or dearness allowance at 1148 points, whichever is less, for each month of pay calculated at (1) above.
Rs.
(3) Total of pay drawn as per (1) above plus total of dearness allowance drawn as per (2) above.
Rs.
(4) Total of pay drawn as per revised scales of pay for the month/s during the last 10 months of qualifying service including the month in which the employee retired.
Rs.
64
(5) Total of columns (3) and (4) Rs.
(6) Average emoluments for the purpose of pension i.e., Total as per (5) above 10 Rs.
(7) Updated basic pension 50% of (6) above x Number of years of qualifying service (max. 33 years) 33
(8) Basic Pension (Rounded off to next higher rupee) Rs.
3. In respect of workmen who have retired on or after the 1st day of November, 1992 but before the 1st day of November, 1994 and in respect of officers who have retired on or after the 1st day of July, 1993 but before the 1st day of November, 1994 the amount of special allowances in terms of Bipartite Settlement dated 14th February, 1995 or the Officers' Service Regulations, as the case may be, corresponding to the special allowances actually drawn at the time of retirement shall be reckoned for the purpose of computation of additional pension, w.e.f., 1st November, 1994:
Provided that for the period from 1st day of November, 1992 or from the date of retirement, whichever is later, till the 31st day of October, 1994 the amount ranking for provident fund at pre-revised rates shall be reckoned for the purpose of computation of additional pension.
4. In respect of employees who have retired on or after the 1st day of November, 1994 and have drawn special allowance both at the pre-revised and revised rates during the last 10 months of service before retirement, the amount of special allowance in terms of the Bipartite Settlement dated 14th February, 1995 or the Officers' Service Regulations, as the case may be, corresponding to the pre-revised special allowance actually drawn at the time of retirement shall be reckoned for the purpose of computation of additional pension.
65 Note:
The amount of revised special allowance drawn on or after the 1st day of November, 1994 shall be reckoned for computation of basic pension.
5. In respect of subordinate staff who have retired on or after the 1st day of November, 1992 and have drawn pre-revised special allowance as also those who have retired on or after the 1st day of November, 1994 and have drawn special allowance both at the pre-revised and revised rates during the last ten months of service before retirement, the amount of special allowance actually drawn at the pre-revised rates shall be reckoned for the purpose of computation of basic pension and shall draw dearness relief at the rates for every rise or fall of 4 points over 600 points in the quarterly average of All India Consumer Price Index for Industrial Workers in the series 1960=100.
66 Appendix II38 (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 1st day of January, 1986, but before the 1st day of November, 1992; and in the case of employees who were in the officers' cadre and who retired on or after 1st day of January, 1986, but before the 1st day of July, 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 four points shall be calculated in the manner given below:- Scale of basic pension per month
(1) The rate of dearness relief as a percentage of basic pension
(2)
(i) Up to Rs. 1250 0.67 per cent
(ii) Rs.1251 to Rs.2000 0.67 per cent of Rs.1250 plus
0.55 percent of basic pension in excess of Rs.1250.
(iii) 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.
(iv) Above 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 the difference between Rs.2130 and Rs.2000 plus 0.17 per cent of basic pension in excess of Rs.2130.
38 Amended w.e.f. 30.11.2002 ref Circular No.265/2002 dated 24.12.2002 67
(2) In the case of employees who are in workmen cadre and who retire on or after 1st day of November, 1992; and in the case of employees who are in the officers' cadre and who retire on or after 1st day of July, 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 four points shall be calculated in the manner given below:- Scale of basic pension per month(1) The rate of dearness relief as a percentage of basic pension
(2)
(i) Upto Rs.2400 0.35 per cent
(ii) Rs.2401 to Rs.3850 0.35 per cent of Rs.2400 plus 0.29 percent of basic pension in excess of Rs.2400.
(iii) Rs.3851 to 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 basic pension in excess of Rs.3850.
(iv) 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.
(3) In the case of employees who retire on or after the 1st day of April, 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 four points shall be calculated in the manner given below:- 68 Scale of basic pension per month The rate of dearness relief as a percentage of basic pension
(i) Upto Rs.3380 0.25 per cent
(ii) Rs.3381 to Rs.5420 0.25 per cent of Rs.3380 plus 0.21 per cent basic pension in excess of Rs.
3380
(iii) Rs.5421 to Rs.5770 0.25 per cent of Rs.3380 plus 0.21 per cent of the difference between Rs.5420 and Rs.3380 plus
0.12 per cent of basic pension in excess of Rs.5420.
(iv) Above Rs.5770 0.25 per cent of Rs.3380 plus 0.21 per cent 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.
[4] Dearness relief shall be payable for the half year commencing from the 1st day of February and ending with 31st day of July 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 day of August and ending with the 31st day of January on the quarterly average of the index figures published for the months of April, May and June of the same year.
69 [5] In the case of family pension, invalid pension and compassionate allowance, dearness relief shall be payable in accordance with the rates mentioned above.
[6] Dearness relief will be allowed on full basic pension even after commutation.
[7] Dearness relief is not payable on additional pension.
[8] 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.
70 Appendix III39 (See Regulation 39) 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 01.11.1992 or where the employee was in the officers' cadre and retired before 01.07.1993.
Scale of pay per month Amount of monthly Family Pension
(1) (2) UptoRs.1500 30 per cent of the 'pay' shall be the basic family pension plus 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. The aggregate of basic and additional family pension shall not be less than Rs.375 per month.
Rs.1501 to Rs.3000 20 per cent of the 'pay' shall be the Basic Family Pension plus 20 percent of allowances which are counted for making contributions to Provident Fund but not dearness allowance shall be the additional family pension. The aggregate of basic and additional family pension shall not be less than Rs.450 per month.
Above Rs.3000 15 per cent of the 'pay' shall be the basic family pension plus 15 per cent of allowances which are counted for 39 Amended w.e.f. 30.11.2002 ref Circular No.265/2002 dated 24.12.2002 71 making contributions to Provident Fund but not for dearness allowance shall be the additional family pension.
The aggregate of basic and additional family pension shall not be less than Rs.600 per month and not more than Rs.1250 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
01.11.1992 or where the employee was in the officers' cadre and retired on or after 01.07.1993:
Scale of pay per month Amount of monthly Family Pension
(1) (2) Upto Rs.2870 30 per cent of the 'Pay' shall be the basic family pension plus 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.
The aggregate of basic and additional family pension shall be subject to a minimum of Rs.720 per month.
Rs.2871 to Rs.5740 20 per cent of the 'Pay' shall be the basic family pension plus 20 per cent of allowances which are counted for making contributions to Provident Fund but not for dearness allowance shall be the additional family pension.
The aggregate of basic and additional family pension shall be subject to a minimum of Rs.860 per month.
Above Rs.5740 15 per cent of the 'Pay' shall be the basic family pension plus 15 per cent of allowances which are counted for making contributions to Provident 72 Fund but not for dearness allowance shall be the additional family pension.
The aggregate of basic and additional family pension shall be subject to a minimum of Rs.1150 per month and a maximum of Rs.2400 per month.
(c) In respect of employees (both officers and workmen) other than part time employees retiring on or after 01.04.1998:
Scale of pay per month Amount of monthly Family Pension
(1) (2) Upto Rs.4040 30 per cent of the 'Pay' shall be the basic family pension plus 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. The aggregate of basic and additional family pension shall not be less than Rs.1015 per month.
Rs.4040 to Rs.8080 20 per cent of the 'Pay' shall be the basic family pension plus 20 per cent of allowances which are counted for making contributions to Provident Fund but not for dearness allowance shall be the additional family pension. The aggregate of basic and additional family pension shall not be less than Rs.1212 per month.
73 Above Rs.8080 15 per cent of the 'Pay' shall be the basic family pension plus 15 per cent of allowances which are counted for making contributions to Provident Fund but not for dearness allowance shall be the additional family pension. The aggregate of basic and additional family pension shall not be less than Rs.1616 per month and a more than 3378 per month.
Notes:
(1) Dearness relief is not payable on additional family pension.
(2) Scale of pay for the purpose of calculation of family pension as above shall be the aggregate of 'Pay' as defined in subclause (s) of regulation 2 and "allowances" as defined in the explanation to sub-regulation (3) of regulation 35.
(3) In the case of a part-time employee, the minimum amount of family pension and maximum amount of family pension shall be in proportion to the rate of scale wages drawn by the employee.
(4) In case the aggregate of basic family pension and additional family pension falls short of minimum pension, the pensioner may be given minimum family pension and dearness relief may be paid on such minimum family pension. However, no additional family pension shall be payable over and above the minimum family pension.
74 APPENDIX – IV40 (See Regulation 27) Actual service on scale wages rendered on permanent part-time basis in one week Length of corresponding qualifying service for each year of service rendered on permanent part-time basis for calculating the amount of pension.
(1) (2) Six hours or more but upto 13 hours One third of a year More than 13 hours upto 19 hours One half of a year More than 19 hours but upto 29 hours Three fourth of a year More than 29 hours One year 40 Amended w.e.f. 30.11.2002 ref Circular No.265/2002 dated 24.12.2002 75 Appendix V41 (See Regulation 39) The formula for computing basic family pension and additional family pension in respect of employees who were in the service of the Bank on or after the 1st day of January, 1986 and had died while in service on or before the 31st day of October, 1987 or had retired on or before the 31st day of October, 1987 but died shall be as under:-
(1) Basic Family Pension:
(A) pay drawn by the deceased employee at the time of death / retirement Rs.
(B) Basic family pension at the ordinary rate as per Table given below Rs.
(C) Dearness Relief at index 600 in the All India Rs.
Average Consumer Price Index for Industrial Workers in the series 1960=100 as per Table I given in Appendix - I on basic family pension calculated at (B) above.
(D) Updated basic family pension i.e., (B) + (C) Rs.
(E) Updated basic family pension as per (D) above Rs.
(rounded off to next higher rupee) (F) Basic family pension at one and half times Rs.
or twice the updated basic family pension as the case may be of (D) above (rounded off to next higher rupee)
(2) Additional Family Pension 41 Inserted w.e.f. 30.11.2002 ref Circular No.265/2002 dated 24.12.2002 76 Special allowance to the extent of the amount ranking for making contributions to the Provident Fund in terms of the Bipartite Settlement dt. 10.04.1989/Officers' Service Regulations corresponding to the special allowance drawn before retirement/death shall be reckoned for the purpose of additional family pension.
Note: -
(1) Dearness relief is not payable on additional family pension.
(2) In case the aggregate of updated basic family pension and updated additional family pension falls short of Rs.375, the pensioner may be paid Rs.375 with dearness relief thereon in which case no updated additional family pension shall be payable.
Table Pay Range Amount of Family Pension Below Rs.664/- 30 per cent of 'pay' shall be the basic family pension plus 30 per cent of the allowances which counted for making contributions to Provident Fund but not for dearness allowance shall be the additional family pension with a minimum of Rs.100 and maximum of Rs.166/- Rs.664/- and above but below Rs.1992/- 15 per cent of 'pay' shall be the basic family pension plus 15 per cent of the allowances which counted for making contributions to Provident Fund but not for dearness allowance shall be the additional family pension with 77 a minimum of Rs.166/- and maximum of Rs.266/-.
Rs. 1992/- and above 12 per cent of 'pay' shall be the basic family pension plus 12 per cent of the allowances which counted for making contributions to Provident Fund but not for dearness allowance shall be the additional family pension with a minimum of Rs.266/- and maximum of Rs.415/-.
78
SCHEDULE TO CANARA BANK (EMPLOYEES’) PENSION REGULATIONS, 1995 COMPETENT AUTHORITY42 Sl.
No.
Regulation/ Clause/ Sub-Clause Purpose Competent Authority 1 3 Acceptance of option from Employees/Retired Employees/Family of the deceased employees/retired employees As nominated by the Managing Director 2 29 Acceptance of Voluntary Retirement Workmen Employees – Deputy General Manager at Circle Office/ Assistant General Manager heading Circle office.
Assistant General Manager Personnel Wing for Workmen Employees at Head Office.
Officers in Scale, I II & III & Executives in Scale IV, V – General Manager, Personnel Wing.
Executives in Scale VI - Executive Director.
Executives in Scale VII – Chairman & Managing Director.
42 Amended w.e.f. 29.12.2010 ref Circular No.12/2011 dated 11.01.2011 79 3 31 & 33 Sanction of Compassionate Allowance / Compulsory Retirement Pension.
Next Authority higher to the respective Disciplinary Authority 4 41 & 51 � Sanction of Pension � Commutation of Pension & receipt of application for commutation.
� Receipt of nomination for pension benefit Workmen & Officers up to Scale- III - Assistant General Manager at Circle Office.
Assistant General Manager Personnel Wing for Workmen & Officers up to Scale- III at Head Office.
Executives in Scale IV & V – General Manager, Personnel Wing.
Executives in Scale VI –Executive Director.
Executives in Scale VII –Chairman & Managing Director.
For all nomination purposes under Regulation 51 the Competent Authority shall be the Pension Fund for all cadres.
80 5 43 45 & 48 Withholding and withdrawal of pension and instituting Departmental Proceedings after retirement & recovery of pecuniary loss from pension Workmen & Officers in Scale I to III – Assistant General Manager.
Executives in Scale IV & V – General Manager, Personnel Wing Executives in Scale VI – Executive Director.
Executives in Scale VII – Chairman & Managing Director.
6 50 Granting permission for commercial employment after retirement in respect of officer employees Officers in Scale I to III-General Manager, Personnel Wing Executives in Scale IV & V – Executive Director Executives in Scale VI & VII- Chairman & Managing Director 81 EXPLANATORY MEMORANDUM TO REGULATION 28:
1. Indian Banks' Association, after taking a no-objection from the Government of India, circulated a model Voluntary Retirement Scheme (VRS) to all the Public Sector Banks on 31.08.2000.
The Scheme, inter alia, provided that employees who have rendered 15 years' service are eligible for the Scheme.
According to the existing provisions in the pension regulations, it is only employees who opt voluntary retirement after completing 20 years of qualifying service and after giving notice of not less than 3 months in writing to the appointing authority, are eligible for pensionary benefits. The eligibility criteria and the benefits flowing out of the above provisions in the Pension Regulations are distinct and separate from that envisaged under VRS circulated on 31.08.2000. There are no provisions available in the Pension Regulations for extending pensionary benefits to a member employee who retires before attaining the age of superannuation under such specific schemes. It has been, therefore, decided to provide the benefit of pro-rata pensionary benefits to members of Pension Fund who opt for voluntary retirement under specified scheme(s).
2. It is, therefore, necessary that the amendment may be made effective from 1st September 2000 so that all employees who are members of the Pension Fund and have taken voluntary retirement under the scheme after completion of 15 years of service can draw the benefit of pension.
3. It is certified that no employee/officer of Canara Bank is likely to be affected adversely by the Notification being given retrospective effect.
Disclaimer: Though utmost care has been taken during the preparation of this Document on " Canara Bank (Employees') Pension Regulations, 1995”, the Bank reserves the right to rectify inadvertent errors, if any.
82 NOTES 83 84