PNB ARPAN: PNB Bank Decides to provide Rs.30,000 Financial Help to Family of Deceased Retired Employees

PNB ARPAN Scheme: Punjab National Bank (PNB) has launched a new welfare scheme named ‘PNB ARPAN’ to provide financial assistance of ₹30,000 to the family of retired employees who pass away. The initiative aims to support the families of former staff members with empathy and care during their difficult times. The main goal of the PNB ARPAN scheme is to create a humane and empathetic response mechanism for families of retired employees who have passed away. The bank aims to offer emotional reassurance and quick financial support to the bereaved families. The PNB ARPAN Scheme has been made effective from October 3, 2025.

PNB ARPAN reflects the bank’s humane and caring approach towards its employees and retirees. The scheme is designed not just as a financial gesture but as a symbol of emotional support from the PNB family to the bereaved family members. Through this initiative, PNB continues to set an example in the Indian banking industry for having one of the best HR and welfare policies, showing that the bond between the bank and its employees does not end at retirement.

With the launch of PNB ARPAN, Punjab National Bank has once again proved why it is considered one of the most employee-friendly banks in India. The bank has consistently introduced welfare schemes that focus on employee dignity, well-being, and family support even after retirement. This initiative not only provides financial relief but also reinforces the emotional connection between the bank and its retired staff. PNB’s proactive approach sets a benchmark for other banks in the country to follow in promoting humane HR policies.

Key Features of PNB ARPAN Scheme

• One-Time Financial Assistance: Under this scheme, the family of the deceased retired employee will receive a lump sum payment of ₹30,000 as a gesture of gratitude and support.
• Quick Disbursal: The payment will be made within 72 hours of receiving the information about the death of the retired employee.
• Who is Eligible:
  The scheme will cover:
  • All retired employees who have superannuated or taken Voluntary Retirement (VRS).
  • Pensioners, including those under the National Pension Scheme (NPS).
  • PF optees (Provident Fund) employees who are not under the pension scheme.
• Personal Visit and Condolence: The Branch Head of the nearest branch, or the HR Manager/ any other officer, along with a representative from the Pensioners’ Association, will visit the deceased employee’s family. They will offer condolences and hand over the assistance amount along with a condolence letter, preferably written in the regional language, signed by the Branch Head or Controlling Office Head.

How Support will be provided to the Bereaved Family by Punjab National Bank (PNB)

PNB has instructed its staff to handle such cases with empathy, care, and sensitivity. Branches and field offices have been directed to help the family in completing all formalities related to:

• Submitting applications to stop the pension and start family pension.
• Continuing the retiree’s medical insurance scheme or any other related benefits.
• Closing or settling loan accounts, if any.
• Converting joint or single accounts as per banking rules.
• Assisting with safe deposit locker formalities.
• Helping with the submission of the death certificate to the bank.
• Supporting with any other retiree-related issues faced by the family.

The Branch Head of the nearest branch will handle the payment to the family after confirming the necessary details. The amount will be debited to the branch’s suspense account and then paid to the nominee or family member of the deceased.