US EditionGovernment Greenlights Wage and Pension Revisions for Financial Sector Employees
- The government has approved wage and pension revisions for public sector general insurance companies, which will cost over ₹11,500 crore.
- Wage increases for public sector general insurance employees are effective from August 1, 2022, benefiting around 43,000 workers.
- NABARD employees will see a 20% pay hike effective November 1, 2022, impacting about 3,800 individuals, along with pension revisions to benefit 726 pensioners and their families.
- RBI pensioners will receive a 10% increase in pensions, benefiting 30,769 individuals, as stated by the Finance Ministry in a press release.
17 Articles
17 Articles
Times of India
Govt approves wage revision of PSU general insurers, NABARD, RBI employees, pensioners
The central government has approved significant wage and pension revisions. This benefits over 46,000 employees and 23,000 pensioners across PSU General Insurance companies, NABARD, and RBI. Wage revisions for PSU General Insurance companies are effective from August 1, 2022. NABARD's payment revision starts November 1, 2022. RBI and NABARD retirees will see pension enhancements from November 1, 2022.
Government Greenlights Wage and Pension Revisions for Financial Sector Employees
The central government has approved wage revisions for PSU General Insurance companies and NABARD, along with pension adjustments for RBI and NABARD retirees, benefiting over 46,000 employees and pensioners. The revisions are expected to have significant financial implications, effective from late 2022, totaling an output of Rs 2,696.82 crore.
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