Members may refer to our earlier post wherein we informed that with effect from March 01, 2019, the ordinary rate of family pension shall be 30% of pay uniformly, subject to a minimum of Rs. 9,000/- per month and a maximum of 30% of the highest pay per month in the Bank.
As expected, bank has now given instructions to revise/recalculate family pension in terms of GOI approval. The required details are here.

Revision of Family Pension and payment of arrears:

In nutshell, the revised pay calculated as per the office instructions is to be reckoned for determining revised family Pension. For example, If Revised Pay = X, Revised family Pension = X*30%.
Revised family Pension (X*30%) is further to be multiplied by factors 3.63, 2.44, 1.76 as applicable to the category of family Pensioner as detailed for calculations effective March 1,19. Dearness Relief (DR) shall be paid from March 01, 2019, as applicable on pay scales-based on CPI=4440.
The family pension revised as above shall be further multiplied by a factor 1.63 from June 23 and DR shall be paid at the rate applicable on pay scales-based on CPI=6352 except for those who Retired / deceased post November 01, 2017, and are already getting DR on CPI=6352.
Minimum Family Pension shall be 9000/- per month and maximum Pension shall be 30% of highest pay per month.

The recalculation and revision of family pension shall be completed in a time bound manner. Arrears of family pension shall be paid to the family pensioner or his /her legal heirs in terms of extant instruction.

AI generated representational image courtesy bing.com/images, further edited by the Administrator.