National Bank of Pakistan Approves Increment in Monthly Pension for all NBP Pensioners

The President and board of directors of National Bank of Pakistan (NBP) have approved an increase in the monthly pension of all NBP pensioners who retired and families of employees who deceased, on or before 2016. As per the details, a 20% increase was approved for those who retired before December 1998, while a 15% for those who retired between 1999 to 2009, and 10% increase was agreed for those who retired between 2010 to 2016.

Considering that a big number of pensioners have pension amounting to below PKR 6,000 even after the latest increase as given above, it has been decided that the minimum amount in case of pensioners is fixed at PKR 6,000/- per month whereas monthly benefit amount for family for those pensioners who have passed away, has been fixed at PKR 4,500/- per month with effect from January 2017. It was also decided that the Bank will pay its arrears along with revised monthly pension on the next payment date.

While making this announcement, NBP's spokesperson said: “All bank employees are backbone of the institution. We are a family and employees have to have full commitment to the development of NBP. The relationship with all employees continues even after their retirement. We care about our NBP family as, in majority of cases, a working life time has been spent to provide services to bank's customers. With this decision, we are promoting a favorable workplace culture to show that the bank truly values its employees and that continues even after the retirement.”

On this occasion the President of NBP Mr. Saeed Ahmad stated that our pensioners who had rendered valuable service during their employment, are pride of the bank. He said that he was happy to fulfill a promise which he made with the pensioners of the bank and other stakeholders soon after his appointment as President. He also emphasized that all customers who visit NBP branches whether for the purpose of drawing pensions or salaries, paying their bills or are our depositors / borrowers must be treated with respect and branch managers must make sure to provide good services in comfortable environment.

A copy of the announcement shall be dispatched to the concerned pension payee branch, pensioners, and families of deceased pensioners at their last known addresses on record with the bank. In case of any discrepancy, all those concerned are advised to approach the Employees Benefits Wing, HR Services Division, HR Management Group, NBP Head Office, Karachi for necessary corrections