New SBI Comprehensive Pension Package for Central Govt Pensioners in 2026: Check all benefits

The State Bank of India has introduced a dedicated account for pensioners under the Comprehensive Pension Package with benefits including no minimum balance condition and personal accident insurance cover.

The Department of Financial Services (DFS), the Ministry of Finance, recently launched a Composite Salary Account Package for central government employees in partnership with Public Sector Banks (PSBs). The package is aimed at making financial management easier, more secure and convenient for government employees.

PSBs like the State Bank of India have started introducing salary and pension packages for central government employees and pensioners.

SBI’s Comprehensive Pension Package

All central government pensioners aged 70 or above are eligible to avail themselves of the benefits under the Comprehensive Pension Package:

• No minimum balance requirement
• No charges for SMS alerts
• Rupay Platinum Gold Debit Card
• No debit card issuance charges
• A personal accident insurance (death) cover of ₹30 lakh.

If personal accident insurance (PAI) is admissible, pensioners can avail themselves of these add-on covers if they have an account under the Comprehensive Pension Package:

• Up to ₹10 lakh for plastic surgery in burn cases
• Up to ₹5 lakh for the transportation of imported medicine
• Up to ₹5 lakh for death after coma (over 48 hours) in case of an accident
• Up to ₹10 lakh for air ambulance
• Up to ₹8 lakh for higher education of children between the ages of 18 and 25, up to ₹10 lakh for girls
• Up to ₹50,000 for family transportation (travel cost of 2 immediate family members to reach the place of accident)
• Up to ₹50,000 for repatriation of mortal remains
• Up to ₹50,000 for ambulance

Comprehensive Pension Package for central government pensioners

For detailed benefits, individuals can contact their nearest branch. Other banks like Punjab National Bank, Bank of Baroda, Canara Bank and Indian Bank may also introduce packages for central government employees and pensioners under this initiative.