The OIDB employees appointed after 01-01-2004 are entitled to pensionary benefits in accordance with OIDB Employees (Pension) Rule 1990 as amended from time to time. The retirement benefits available under these Rules were paid from OIDB after making provisions for the same in OIDB accounts annually and funds drawn from OI(D) fund.  In 2008 with the approval of OID Board, two trust to administer schemes namely OIDB Employees’ Superannuation Scheme and OIDB Employees Group Gratuity Scheme were created & requisite funds were provided to LIC for managing these two funds. The employees retiring after 01-04-2008 are being paid retirement benefits from the fund where the existing pensions continue to get the pension etc. through OIDB itself.

Last Updated On: 18/06/2024
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