Does an SBI Clerk get a pension and other benefits?

The 2026 notification says Junior Associates will be eligible for reimbursement of various perquisites, provident fund, pension under the New Pension Scheme (Defined Contribution Benefit), medical, leave fare and other facilities, as per the Bank's instructions issued from time to time.

Pension: NPS, not old pension

New recruits come under the New Pension Scheme, which the notification describes as a defined contribution benefit. This means:

• A part of your pay is contributed every month, along with a contribution from the employer, into your pension account.
• The money is invested, and your pension depends on how much builds up by retirement.
• It is not the old fixed (defined benefit) pension that some long-serving bank staff have.

Benefits listed in the notification

Other benefits often available to bank staff

Staff loans (housing, vehicle, personal) at concessional terms and other welfare measures are common in public sector banks. The exact schemes and limits are in SBI's internal rules, which you will receive after joining.

Recent wage settlement changes

The 12th Bipartite Settlement, signed in 2024, revised pay for clerical staff with effect from 1 November 2022 and changed some leave provisions, such as privilege leave encashment of up to 255 days on retirement and one day of sick leave a month for women without a medical certificate.