Frequently Asked Questions

Any retired employee of Union Bank of India (including erstwhile Corporation Bank and Andhra Bank) residing in Maharashtra can apply for membership. Download the membership form from our Downloads page, fill it, and submit along with the annual membership fee of ₹100. You can also contact any committee member for assistance.

The annual membership fee is ₹100. Life membership is also available. Please check the latest membership form for current rates or contact the association office for details.

As per the Supreme Court judgment, the commuted portion of pension gets restored after 15 years from the date of commutation. If your pension has not been restored automatically, download the Pension Commutation Restoration Form from the Downloads page and submit it to your pension-paying branch. UBPARA has been instrumental in getting this benefit for hundreds of retirees.

Retirees are covered under the Union Healthcare Policy. The current coverage is up to ₹7,00,000 per family per year for hospitalisation expenses. Domiciliary expenses are covered separately with a limit of ₹10,000 per year. Annual health checkup facility is also available through hospital tie-ups arranged by the association.

For cashless treatment, visit a network hospital with your policy card. For reimbursement claims, fill the Hospitalisation Claim Form (available in Downloads) and submit with all original bills, discharge summary, and prescription copies to the TPA or pension-paying branch within 30 days of discharge.

Life certificates must be submitted in November each year. You can submit it through: (1) Visiting your pension-paying branch in person, (2) Using Jeevan Pramaan (digital life certificate) via biometric authentication, or (3) Through a doorstep banking facility. UBPARA organizes Life Certificate Drives every November to assist members.

Yes! After the merger of erstwhile Corporation Bank and Andhra Bank with Union Bank of India on 01.04.2020, UBPARA Maharashtra amended its by-laws to welcome retirees of these banks as members. All merged bank retirees residing in Maharashtra are eligible to join.

Basic Pension = (Last Basic Pay × Qualifying Years of Service) ÷ 66. The maximum qualifying service is 33 years. DA is calculated as a percentage on the basic pension. Use our Pension Calculator for an instant estimate. Note: The actual pension may vary based on individual service conditions.

The Benevolent Fund provides financial assistance to members in distress or upon the demise of a member. Eligible members or their nominees can apply using the Benevolent Fund Application form available in the Downloads section. The assistance amount is decided by the executive committee based on available funds.

Senior citizens (60+) enjoy a higher basic exemption limit of ₹3,00,000 under the old regime. Standard deduction of ₹50,000 is available on pension income. Section 80TTB allows deduction of up to ₹50,000 on interest income. Check our Income Tax resources for detailed filing guidance.

Yes, retirees are eligible for LFC as per the bipartite settlement terms. The LFC entitlement is available once in a 4-year block for the retiree and spouse. Download the LFC Claim Form from the Downloads page and submit it to your pension-paying branch with original travel tickets and boarding passes.

Family Pension is payable to the spouse (or dependent family member) upon the demise of the pensioner. The amount is generally 30% of the last drawn basic pay, with enhanced family pension (50% of pay) for the first 7 years or until the pensioner would have reached 67, whichever is earlier. The family member needs to apply using the Family Pension Application form.

You can reach our leadership through: Phone: +91 77989 86185, Email: ubpara.ms@gmail.com, or visit our office at Plot No. 36, Acharya Co-op. Housing Society Ltd., Warje, Pune – 411 058. For detailed contact information of all office bearers, visit our Contact Us page.

Yes, UBPARA provides legal guidance and assistance to members on pension-related disputes, medical insurance claim rejections, and other grievances. The association has successfully represented members in various cases and helped resolve issues with the bank management and insurance companies.

Union Bank offers several loan products for pensioners including: (1) Pension Loan up to 18 months' pension, (2) Housing Loan for renovation, (3) Vehicle Loan, and (4) Personal Loan against Fixed Deposits. Visit our Loans for Retirees page for detailed eligibility and terms.