Internet Link: Information for Retired Staff

https://www.unionbankofindia.co.in/english/informationforretiredstaff.aspx

Please regularly visit this page of Union Bank of India for latest information.

Union Virtual Connect (UVConn) Bank’s Official WhatsApp

• The Registered Mobile number in CBS only can be used for UVConn.
• Bank's Official WhatsApp number to be saved: 9666606060.
• The authentication of number can be determined with an official green tick on WhatsApp chat window, after saving the number with name in contact list of users. The green Tick next to contact’s name confirms that this is the business’s WhatsApp verified account of Union Bank of India.
• User need to send “Hi” on Banks official WhatsApp number for registering into Union Virtual Connect (UVConn).
• Currently Released in 7 languages (English, Hindi, Kannada, Telugu, Bengali, Marathi, Tamil)
• Customer will get option to select the language while initiating registration process. Once Customer selects the desired language, OTP will come for authentication purpose. However, language can be changed by going into Account Settings -> Change Language for already registered customers.
• After completion of Registration process, user needs to send “Hi” once again to initiate journey of UVConn.
• For accessing Menu during UVConn journey, user need to input “Menu” to go back to main menu.

Union Parivar

- Please download this app on your mobile.

- User id : PF Number

- Password : Date of Birth in DDMMYYYY format.

- Next you have to type the Captcha displayed on the screen. Thereafter, you will have to type the OTP which will be received on your registered mobile number.

- Union Parivar app contains the following options

1) Holiday Home Availability & Booking

2) Pension Slip details

3) Form No. 16

4) Investment Declaration

On selecting the option of ‘Investment Declaration’, the from and to date will be displayed on the screen. You have to click on ADD button and enter the relevant details. After entering all the details, click on SAVE and SUBMIT buttons.

The Branch Manager/ Deputy Branch Manager will have to approve the same in Union Parivar after obtaining the necessary proof of investments. The proof of investments submitted by the Pensioner needs to be kept in the branch for their record. Please note that Investment Declarations shall only be considered for arriving at the tax liability, by taking into account the investments declared.

Digital Calendar

Use the following link to get this year’s digital calendar

https://www.unionbankofindia.co.in/pdf/holiday.pdf

Jeevan Pramaan: Digital Life Certificate for Pensioners

Jeevan Pramaan is a biometric enabled digital service for pensioners. Pensioners of Central Government, State Government or any other Government organization can take benefit of this facility.Use the below link to Download App

https://jeevanpramaan.gov.in/package/download

Identity Card for Retirees

As per the prevalent practice, employees who retire have to apply to HRD, Central Office for issuance of Identity Cards in the prescribed format, and the same is made available to the employees in their Address.

Identity cards of the erstwhile Andhra Bank and erstwhile Corporation Bank continue to be valid and can be used for the purpose of proving identity for booking Holiday Home / claiming Insurance benefits etc. No fresh Identity cards are proposed to be issued to these retirees.

Farewell Scheme of Retiring Employees

Employees Retiring on superannuation are presented with a Memento costing not more than Rs.7500.00

Travelling Allowance on Retirement

On retirement an Officer will be eligible to claim Travelling Allowance, baggage and other expenses for himself and his family as on transfer from the last station at which he is posted to the place where he proposes to settle down on retirement.

Staff Deposits & Payment of Additional Interest

• RBI has permitted Banks to pay additional interest of 1.00% on staff deposits. Further, retired staff members are eligible for additional 0.50% interest in addition to the above mentioned 1.00%.
• Staff Deposit jointly with Senior Citizens : Where a joint holder of a deposit made by the Senior citizen is a staff member, to be entitled for 1% p.a. additional interest, only when the name of the staff member is first and not subsequent. A declaration from the staff member shall be obtained to the effect that the monies deposited or which may be deposited from time to time into such account/s, belong to the concerned staff member.
• The additional interest may be paid on the following deposits after obtaining a declaration from the depositor concerned, that the monies deposited, or which may be deposited from time to time into such account belong to the depositor.
• Member or a retired member of the bank's staff, either singly or jointly with any member or members of his/her family; or
• The spouse of a deceased member or a deceased retired member of the bank’s staff or
• An Association or a fund, members of which are members of the bank's staff.
• On premature closure of a staff member’s Term Deposit, penalty as applicable shall be levied (1% less than the card rate applicable for staff deposits as prevailing on the date of deposit for the tenure up to which the deposit remained with the Bank).

For amalgamated entity, the maximum ceiling of Rs.5.00 crore would continue as per Standalone Union Bank of India’s Instruction Circular No. 01914-2020 dated 16.03.2020. The amount invested in Term Deposits (Principal amount) at all branches of the Bank put together under staff category on which the benefit of additional rate of 1.0% p.a. is admissible on deposits of staff category for individuals opened either singly or jointly with family members viz. as staff, ex-staff or spouse of a deceased member of staff or deceased retired member of the Bank’s staff.

Accounts which are ineligible for benefits of staff accounts:

• Ex-staff members who have resigned from the service of the Bank (irrespective of the number of years of service put in) will not be eligible for the benefit of the staff accounts in respect of the deposits placed/renewed by them after their resignation from the service of the Bank.
• Even if the Karta of the family is a member of Bank’s staff, the accounts of HUF shall not be eligible for staff rate of interest.
• Bank Employees Federations, in which bank employees are not direct members, shall not be eligible for additional interest.
• Deposits in the name of staff under Capital Gains account: If a deposit is held by the staff under Capital Gains Account, no additional interest benefit is available on that deposit. Likewise, additional interest for Senior citizen is also not available for staff deposits under Capital Gains.
• NRE/NRO Deposits of Staff Members: Deposits held by the staff under NRE / NRO Deposit Account shall not be eligible for the additional interest benefit.

Commercial Employment After Retirement

If a pensioner who immediately before his retirement was holding the post of an officer is required to obtain prior sanction from the bank to accept commercial employment before the expiring of one year from the date of his retirement.

Scheme of Compensation / Incentives for Acts of Bravery

Employees are entitled to receive Rewards/Incentives for acts of exceptional bravery or high level of integrity and/or performance of high order as under: Compensation in case of death of employee:

Bank will bear educational expenses up to graduation of the children of the deceased employee.Employment on compassionate grounds will be given to one member of the family of the deceased

(a). In case no one in the immediate family is eligible for employment, the entitlement will be held in abeyance till one of the members of family becomes eligible for employment.

(b). In case employment is not taken up and the dependents are not gainfully employed, then the last pay and allowances drawn by deceased may be extended to the family of the deceased till one of the children of family attains age of 21 years or till the date deceased would have retired in normal course, whichever is earlier.

Staff loans availed by the deceased may be taken up in the name of the family member taken up on compassionate employment. If compassionate employment is not sought, then the interest on loans may be waived and only principle may be recovered from the compensation/other dues payable.

In respect of other than the Bank employee who may get killed as a consequence of robberies and/or attack of terrorists, the Bank will pay a lump sum compensation of Rs.1 lakh to the family of the deceased.

In case of Bank employees/ customers/ members of the public who actively resist robberies/terrorist attacks, the Bank may consider cash reward not exceeding Rs.50,000/- This reward will be in addition to compensation, if any, payable under provisions of various Acts/Rules governing the person.

In case of employees, if the act of bravery merits, promotion may be given. If such employee does not possess the requisite criteria for such promotion, they can be given personal pay up to 3 advance increments in existing grade on permanent basis. In case the employee is drawing last stage of basic pay, then the personal pay would be equal to 3 times of the amount of increment last drawn and if he is drawing basic at a lower stage, then the personal pay will be equal to next remaining increments plus amount equal to last increment to make the total up to 3 increments.

All expenses of injury, including hospitalisation of the victim/ Bank employees / members of public / members of police forces etc. shall be borne by the Bank.

Furniture Items Provided by Bank to The Officers

At the time of retirement / voluntary retirement/ resignation etc., the recovery under the Scheme shall be as under :

At the time of retirement on superannuation/ VRS or resignation before completion of 5 years from the date of sanction, the value of furniture arrived at as per the above table shall be treated as the sale value of furniture, however, taxes, if any, on such value shall be borne by the Bank.

Sale Of Furniture Items, Car, Personal Computers and Laptop to Retiring Officers as Well as Family Members of The Deceased Officer-Modification in Guidelines in Respect of Sale of Car

SC 5211 dated 31.08.2005 & SC: 7081 DT 19.12.2019

Eligibility

All retiring Officers or family members of the deceased Officer. It is essential that the retiring officers or the family members of the decease quarters at the time or retirement or at the time of death of the officer and in case of purchase of Bank’s car / Personal Computer/ Laptop, the Officer should have been allotted with Bank’s car, Personal Computer, Laptop.

General Guidelines:

1. The scheme is effective from 25.07.2005
2. Applicable only in case of Superannuation / Voluntary Retirement / Death of Officer / Deemed Retirement form the services of the Bank and not otherwise.
3. Only Furniture items excluding fixtures will be available for sale. Any equipment attached to the premises is to be treated as fixture e.g., Geyser, AC unit, kitchen cabinets etc.
4. The sale of furniture items will be restricted to the items used by the Retiring / Deceased Officer in the Bank’s residential quarters provided Personal Computer and Laptop which were used by the Officer before his retirement / death will be offered for sale.
5. There will be no restriction on the age of furniture items, Car, Personal Computer and Laptop.
6. The sale prices of furniture items, Car, Personal Computer and Laptop shall be at notional Book Valued on the date of the sale.
7. The retiring officers should exercise the option for purchase of Furniture items, Car, Personal Computer and Laptop immediately after retirement. In any case, not later than one month from the date of retirement.
8. The spouse of the deceased officer should exercise the option for purchase of furniture items, Car, Personal Computer and Laptop within 6 months from the date of death of the officer.
9. Family is defined as surviving spouse and dependent children and wholly dependent parents in case of unmarried staff
10. The notional book value will be difference amount of original cost of furniture items, Car, Personal Computer and Laptop and depreciation provided for these items.

Specific Guidelines

1. The car will be delivered on as is where is condition.
2. In case the Officer opts for purchase of car, he will not be eligible for temporary use of Bank’s car after retirement.
3. In case of family of the deceased officer, the sale of furniture items, Car, Personal Computer and Laptop which were used by the officer at the time of his death will be sold at 25% of the original cost of such items or Notional Book value whichever is lower.
4. Depreciation on furniture items is presently being provided for in Central Office Books on behalf of branches. Hence, to arrive at the notional book value at their end depreciation is to be provided as per diminishing balance method at the following rate by the branches
1. Furniture at 10% p.a.
2. Transport vehicle at 20% p.a.
5. In case of Personal Computer and Laptop, depreciation is to be worked out on straight line method at 33.33% p.a.
6. Branches will have to calculate Notional Book Value on the furniture items proposed to be purchased by the retiring officer / family member of the deceased officer and recover the amount before parting with Car, Personal Computer and Laptop.
7. However, rates of depreciation and method of charging shall be as per rules in force and guidelines issued by Central Accounts Dept., CO Mumbai time to time.