STATE BANK OF INDIA PENSIONERS' ASSOCIATION
UDAYA SHANKAR V.R
PRESIDENT
SRIDHARAN A
GENERAL SECRETARY
THE KEY FEATURES OF THE "SBI TRIBUTE" SCHEME
Objective: To provide immediate and holistic support, including emotional reassurance and dignified support, to the families of retired employees upon their passing. It aims to institutionalize a humane and empathetic response mechanism.
Coverage: The scheme covers the following individuals:
Pensioners who have superannuated or opted for Voluntary Retirement Scheme (VRS) and are receiving a pension from the Bank.
Employees under the National Pension Scheme (NPS)/PF Optees (e-SABS) who have completed at least ten years of qualifying service and have reached the age of superannuation (60 years).
NPS/PF Optees who have taken VRS after completing twenty years of qualifying service, regardless of their age.
Immediate Financial Support: A one-time lump sum amount of Rs. 30,000/- is provided as a gesture of gratitude and support, with the goal of disbursing it within 72 hours of receiving notification of the death.
Personal Visit and Condolence: The Branch Head of the Nodal Branch (or another senior functionary) and a local representative of the Pensioners' Association will visit the bereaved family to offer condolences and present the support amount.
Condolence Letter: A condolence letter, preferably in a regional language, signed by the Branch Head or Head of the controlling office, will be given to the family.
Holistic Support through Nodal Branch: The Nodal Branch is responsible for providing seamless and empathetic support to the family in navigating various post-demise procedures. This includes assisting with:
Submitting applications for the cessation of pension and commencement of family pension.
Continuation of the retirees' Mediclaim Scheme (REMBS).
Closure or settlement of HLS accounts.
Handling safe deposit locker formalities.
Conversion of joint/single accounts.
Submitting the death certificate to the Bank.
Any other matters related to pensioners.
Quarterly Reporting: Circles are required to submit a consolidated quarterly report to the Corporate Centre for monitoring and review.
Discretionary Initiatives (at the Circle Level): Circles have the option to implement additional initiatives, such as:
An Annual Remembrance Day to honor deceased pensioners.
Emotional and mental health support sessions.
Financial planning workshops for families.
Effective Date: The scheme is effective from 23.07.2025 ( the date the circular was issued}.
