The Board of Directors of the Small Industries Development Bank of India has notified the Small Industries Development Bank of India Pension [Amendment] Regulations, 2022 in order to amend Small Industries Development Bank of India Pension Regulations, 2002.
These Amendments shall come into force with effect from April 01, 2021.
The amendment substitutes the Family pension under Regulation 41 and provides the revised rate:
“(5) The ordinary rate of family pension shall be thirty percent of the Pay, subject to a minimum of Rs. 3,500/- (Rupees Three Thousand Five Hundred only) per month and a maximum of Rs. 24,495/- (Rupees Twenty Four Thousand Four Hundred Ninety Five only) per month.
Explanation: In the case of a part-time employee, the minimum and maximum amounts of the family pension shall be in proportion to the rate of wages applicable.”