There’s good news for government employees and pensioners. The central government has approved salary and pension revisions for employees and pensioners of public sector general insurance companies, NABARD,
and the Reserve Bank of India (RBI). This decision will directly benefit thousands of employees and their families.
According to the Finance Ministry, the revisions will benefit:
46,322 employees
23,570 pensioners
23,260 family pensioners
This decision comes after long-pending demands.
Pay Revision Details for Employees
General Insurance PSU Employees:
Effective from August 1, 2022
Total government expenditure: ₹8,170 crore (includes salary arrears, NPS contributions, and family pension amounts)
Salary arrears alone will cost about ₹5,800 crore
NABARD Employees:
Effective from November 1, 2022
Additional annual salary burden: ₹170 crore
Salary arrears to be paid: ₹510 crore
Pension Revisions for Retirees
NABARD Pensioners:
One-time arrears payment: ₹50 crore
Additional monthly pension expenditure: ₹3.5 crore
RBI Retired Employees:
Pension and family pension increased by 10%
Effective from November 1, 2022
Total cost: ₹2,700 crore (including arrears and annual expenses)
The government says these revisions will strengthen the financial position of employees and pensioners and meet their long-standing demands.
