Bank of Baroda, one of India’s leading public sector bank is now Pension Disbursing Bank in West Bengal under “The Employees’ Pension Scheme-1995” after a MOU executed between Bank of Baroda, Kolkata Zone and EPFO, RO, Kolkata. The MOU was signed by Regional PF Commissioner Mr. Krishna Shanker and General Manager & Zonal Head, Bank of Baroda, Mr. Sanjay K Tiwary on 29.11.2024.
This will benefit pensioners in West Bengal as the Bank has wide branch network in the state which will assist pensioners in their monthly pension withdrawals and document submissions etc. The Bank has approx 300 branches and around 400 ATMs in West Bengal.
Speaking on the occasion Mr. Sanjay K Tiwary, General Manager & Zonal Head, Bank of Baroda, Kolkata Zone said that it is a proud moment for the Bank and great facility for pensioners of West Bengal. Bank of Baroda is known for its superior Banking services to customers and this association will enable the Bank to assist customers with pension disbursement. This will facilitate the employees of Central PSUs/ Undertakings, State PSUs/ Undertakings, Municipalities and Industrial establishments etc.in the state of West Bengal.
Mr. Krishna Shanker, Regional PF Commissioner informed that The Employee Pension Scheme 1995 is a type of social security scheme launched by the Employees’ Provident Fund Organisation (EPFO) on 19th November 1995. It intends to benefit employees post their retirement. The EPFO manages the administration and assists employees who have reached 58 years of age to obtain pension. The EPS benefits stand available for both new and existing EPF members. Further he said that there are also other different types of pensions under EPS 95 pension scheme, such as pensions for widows, children, and orphans, which support the family members of the pensioner.
