In a bid to give relief to its thousands of employees, the Himachal Pradesh State Cooperative Bank management is going to increase the pension share.
At Present the bank pays three percent of its net profit as pension share, according to media reports. It was announced during the board meeting of the bank held on Friday.
The meeting of the board of directors, chaired by the bank’s chairman Khushiram Balnatah, decided to increase the contribution of employees for pension funds from three percent to five percent. Apart from this, the board also decided to increase the pension of retired personnel.
During the meeting Dr. Pankaj Lalit, Managing Director, Dr. RP Nanta, General Manager, directors and others were present.