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India’s largest public sector bank – State Bank of India (SBI) has launched a special pension account for central government employees. This pension account offers a lot of benefits for government employees.
The benefits of the pension account are as follows:
- No minimum balance requirement
- No charges for SMS alerts
- Rupay Platinum Gold Debit Card
- No debit card issuance charges
- A personal accident insurance (death) cover of ₹30 lakh.
- Up to ₹10 lakh for plastic surgery in burn cases
- Up to ₹5 lakh for the transportation of imported medicine
- Up to ₹5 lakh for death after coma (over 48 hours) in case of an accident
- Up to ₹10 lakh for air ambulance
- Up to ₹8 lakh for higher education of children between the ages of 18 and 25, up to ₹10 lakh for girls
- Up to ₹50,000 for family transportation (travel cost of 2 immediate family members to reach the place of accident)
- Up to ₹50,000 for repatriation of mortal remains
- Up to ₹50,000 for ambulance
Also Read: 5 Day Week, Fixed Timings & Lunch Breaks – When Did Central Govt Employees Get These Benefits?
Comprehensive Pension Package for central government pensioners
| Category | Benefits / Coverage |
|---|---|
| Eligibility | Central government pensioners aged 70 years and above |
| Banking Benefits (Comprehensive Pension Package) | No minimum balance requirement |
| Free SMS alerts | |
| RuPay Platinum Gold Debit Card | |
| No debit card issuance charges | |
| Personal Accident Insurance (PAI) | Accidental death cover of up to ₹30 lakh (subject to admissibility) |
| PAI Add-on Covers (available if PAI is admissible) | Burn treatment and plastic surgery: up to ₹10 lakh |
| Transportation of imported medicines: up to ₹5 lakh | |
| Death following coma (exceeding 48 hours) due to an accident: up to ₹5 lakh | |
| Air ambulance services: up to ₹10 lakh | |
| Higher education support for children (18-25 years): up to ₹8 lakh; up to ₹10 lakh for girls | |
| Travel expenses for two immediate family members to the accident site: up to ₹50,000 | |
| Repatriation of mortal remains: up to ₹50,000 | |
| Ambulance charges: up to ₹50,000 |
Also Read: Canara Bank offers Special Loan Package at very low interest rate, Check Details
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