Kolkata: The West Bengal transport department has issued four memoranda revising pension, family pension and other retirement benefits for former employees of the South Bengal State Transport Corporation (SBSTC) who opted for coverage under the SBSTC Employees’ Pension Regulations, 2002.
The orders apply to pensioners and family pensioners who retired during different periods and introduce revised formulas for calculating pension and related benefits.
One memorandum revises pensionary benefits for employees who retired or died between January 1, 1986 and December 31, 1995. Pension for this group will be revised notionally from January 1, 1996, with actual financial effect from April 1, 1997. Employees who completed at least 10 years of qualifying service will be eligible for pension under the regulations.
Another order revises pension and family pension for those who retired before January 1, 1996. Their consolidated pension will be calculated by adding the existing pension, relief on pension, interim reliefs and an amount equivalent to 40 per cent of the existing pension. The amount so arrived at will be treated as the consolidated pension or family pension notionally with effect from January 1, 1996 and with actual financial effect from April 1, 1997.
For employees who retired on or after January 1, 1996, pension will be fixed at 50 per cent of the last basic pay drawn after 33 years of qualifying service, with proportionate reduction for shorter service. The minimum pension will be Rs. 1,300 and the maximum Rs. 9,150, while family pension will range from Rs. 1,300 to Rs. 5,490.
A separate memorandum revises pension for employees who retired before January 1, 2006 by adding the existing pension, dearness pension, dearness relief and a fitment weightage of 40 per cent of the existing pension. The revision will take notional effect from January 1, 2006 and actual financial effect from April 1, 2008.
Following the revision, the maximum pension has been raised to Rs. 34,350 and the maximum family pension to Rs. 20,610, while the minimum pension and family pension have been fixed at Rs. 3,300.