The Central Government has approved a major pension and family pension revision for retirees of the Reserve Bank of India (RBI) and the National Bank for Agriculture and Rural Development (NABARD). The decision aims to improve the financial security of pensioners and help them manage the rising cost of living after retirement. In this blog, we have provided details related to the revised pension of NABARD and RBI officers.
How much will the pension increase for a NABARD retired pensioner?
For a NABARD retired pensioner, the Government has approved a pension revision. The revised pension brings eligible NABARD retirees on par with ex-RBI NABARD retirees. The revision includes one-time arrears and an increase in monthly pension payments. However, the exact pension increase per individual has not been specified in the official announcement.
| Particulars | Details |
| Beneficiary category | NABARD retired pensioners |
| Type of revision | Pension and family pension |
| Eligibility | Originally recruited by NABARD and retired before 1st November 2017 |
| Pension increase | Amount not specified |
| Arrears payment | ₹50.82 crore (total) |
| Monthly pension outgo | ₹3.55 crore (total) |
| Beneficiaries | 269 pensioners, 457 family pensioners |
How much will the salary increase for a NABARD Grade A officer?
The salary of a NABARD Grade A officer will increase by around 20 percent following the Government-approved pay revision for NABARD employees. This increase applies to pay and allowances and is effective from 1 November 2022. Since Grade A officers fall under Group ‘A’, they are fully covered under this revision. The exact increase in rupee terms will depend on the officer’s basic pay and applicable allowances.
| Particulars | Details |
| Employee category | NABARD Grade A Officer |
| Type of revision | Pay and allowances |
| Salary increase | Around 20% |
| Effective date | 1 November 2022 |
| Coverage | Group ‘A’ employees |
| Exact amount | Varies by pay level and allowances |
From when has the NABARD Grade A pension been revised and when will pensioners receive the new pension?
The pension of eligible NABARD Grade A retirees has been revised with effect from 1 November 2022. Although the approval has come later, the revision is applied retrospectively, which means pensioners are entitled to the revised pension from that date. NABARD pensioners will receive the new, higher pension amount going forward, along with a one-time arrears payment covering the period from 1 November 2022 till the date of actual implementation.
- Pension revision effective from 1st November 2022
- Applies to eligible NABARD pensioners and family pensioners
- Revised pension will be paid regularly after implementation
- Arrears will be paid in one lump sum for the past period
- Covers the gap between old and revised pension amounts
How will the pending salary or pension be paid since the revision is effective from 1st November 2022?
Since the pay and pension revisions for NABARD and RBI are effective from 1 November 2022, the difference between the old and revised amounts for the past period will be paid as arrears. This means employees and pensioners will receive a lump-sum arrears payment covering the period from the effective date till the date the revised salary or pension is actually implemented. Along with this one-time payment, the revised salary or pension will be paid regularly going forward.
- Arrears will cover the period from 1 November 2022 to the implementation date
- Payment will be made as a one-time lump sum
- Revised salary or pension will apply prospectively after payment
- Applies to both serving employees and eligible pensioners
| Category | Effective date | Nature of payment | Arrears amount |
| NABARD employees | 1 November 2022 | Salary arrears (one-time) | Approx. ₹510 crore (total) |
| NABARD pensioners | 1 November 2022 | Pension arrears (one-time) | ₹50.82 crore (total) |
| RBI pensioners | 1 November 2022 | Pension arrears (one-time) | ₹2,485.02 crore (total) |
How much the pension has been revised for RBI pensioners?
RBI pensioners and family pensioners will receive an enhanced pension as part of the approved revision. The increase has been calculated to provide meaningful improvement in monthly income.
- Pension increased by 10% on basic pension plus dearness relief
- Effective increase in basic pension is 1.43 times
- Applies to both pensioners and family pensioners
Beneficiaries
- 22,580 pensioners
- 8,189 family pensioners
- Total beneficiaries: 30,769
Who is eligible for pension revision under NABARD?
The pension revision for NABARD applies to a specific group of retirees to ensure fairness and parity in pension benefits. Only eligible pensioners and family pensioners will receive the revised pension.
- Retirees originally recruited by NABARD
- Retired before 1 November 2017
- Covers both:
- Pensioners
- Family pensioners
- Pension brought on par with ex-RBI NABARD retirees
What is the total financial impact of pension revision for RBI pensioners?
The pension revision approved for RBI pensioners and family pensioners will lead to a substantial financial outgo by the Government. This cost includes both one-time arrears payments for past dues and regular annual pension expenditure in the future. The revision ensures long-term financial support and stability for RBI retirees.
- Total financial outgo: ₹2,696.82 crore
- One-time arrears payment: ₹2,485.02 crore
- Recurring annual pension expense: ₹211.80 crore
- Covers both pensioners and family pensioners of RBI
What are the financial and payment details of NABARD pension revision?
The approved pension revision improves monthly pension payments for NABARD retirees and also provides arrears for the past period. This step removes long-standing differences in pension benefits.
NABARD pension revision details
- One-time arrears payment: ₹50.82 crore
- Additional monthly pension outgo: ₹3.55 crore
- Beneficiaries include:
- 269 pensioners
- 457 family pensioners
This ensures better and more equitable retirement income for NABARD pensioners.
How many RBI and NABARD pensioners will benefit from the pension revision?
A large number of pensioners and family pensioners from RBI and NABARD will benefit from this Government decision. The revision provides relief to more than 31,000 beneficiaries across both institutions.
- RBI pensioners: 22,580
- RBI family pensioners: 8,189
- NABARD pensioners: 269
- NABARD family pensioners: 457
- Overall beneficiaries: Over 31,000
Why is the pension revision important for RBI and NABARD retirees?
The pension revision plays an important role in strengthening social security for retirees who have served India’s key financial institutions. It helps pensioners maintain financial independence and dignity after retirement.
- Helps manage inflation and rising living costs
- Provides financial stability after retirement
- Improves quality of life and social dignity
- Reflects the Government’s commitment to pension welfare and senior citizens
Download the NABARD officer pension revision official notice PDF
Candidates can download the official NABARD officer pension revision notice PDF to check eligibility conditions, effective dates, arrears details, and payment provisions.
FAQs
The Central Government has approved the pension and family pension revision.
The pension revision is effective retrospectively from 1 November 2022.
NABARD pensioners and family pensioners originally recruited by NABARD and retired before 1 November 2017 are eligible.
Yes, eligible pensioners will receive one-time arrears for the period from 1 November 2022.
A total of 30,769 RBI beneficiaries will benefit from the pension revision.
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