Clarification on agreement between SBI managements

New Delhi, Apr 10 (UNI) The government today clarified that the pension for SBI employees and officers will be computed at 50 per cent of the average pay up to Rs 21,040 plus any professional qualification pay.

It will be calculated at 40 per cent above the average pay of Rs 21,040 with a minimum of Rs 10,520 on the revised pay scales prescribed in the VIII bipartite settlement.

The government said this was agreed upon by the SBI management with the All India State Bank Officers Federation and All India SBI Staff Federation last night.

It said its clarification was warranted because of inaccurate media reports.

UNI YJ SS ND1828