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Why Unions are Silent and Not Providing Any Updates on Resignees / VRS optees Who Were Denied 2nd Pension Option

MORE THAN EIGHT MONTHS ARE LAPSED SINCE THE REMINDER LETTER (SEE ATTACHED CIR 56/2011) WAS SENT TO IBA CALLING UPON THEM TO ARRANGE FOR A MEETING WITH AIBOC TO SORT OUT THE DIFFERENCE BETWEEN THEM REGARDING THE II OPTION FOR PENSION TO those officers who have retired under “Voluntary Retirement Scheme” as enshrined in Officers’ Service Regulations 19(1) to 19(7) or, under “Exit Option Scheme”, introduced in Associate Banks, who did not opt for pension scheme earlier due to various reasons.

AIBOC INVOKED THE PROVISION in clause No.14 of the Joint Note signed by the IBA and AIBOC and other Officers’ Organisations on 27.04.2010. VIDE THEIR LETTER DT.09/03/2011 ADDRESSED TO IBA. TILL DATE, nothing has happened and EVERY THING IS KEPT IN COLD STORAGE.

Now AIBOC is in the process of starting another union for retiree bankers. Whether AIBOC is making a mockery of poor retiree bankers? AIBOC is not able to resolve a simple problem of restoration of provisions of joint note in respect of II option to retirees under Service Regulations, even after the issue of notice to IBA revoking PROVISION in clause No.14 of the Joint Note signed by them without proceeding legally or otherwise, against iba and now they are starting a new union for the welfare of retiree bankers!

God Save the Retiree Bankers!

*****

ALL INDIA BANK OFFICERS’ CONFEDERATION

(Registered under the Trade Unions Act 1926, Registration No: 3427/Delhi)

State Bank of Buildings, St. Mark’s Road, Bangalore – 560 001

CIRCULAR NO.56 31.05.2011

TO ALL AFFILIATES/MEMBERS:

PENSION TO OFFICERS WHO “RETIRED UNDER THE VOLUNTARY RETIREMENT SCHEME OF THE BANK” OR “RETIRED UNDER EXIT OPTION SCHEME” INTRODUCED IN SUBSIDIARY BANKS

We have again written a letter to IBA stressing the need for considering one more option to join the Pension Scheme to those officers who have retired under “Voluntary Retirement Scheme” as enshrined in Officers’ Service Regulations 19(1) to 19(7) or under “Exit Option Scheme” introduced in Associate Banks, who did not opt for pension scheme earlier due to various reasons. We have already highlighted the injustice meted out to this section of officers and urged upon IBA to set right the injustice done to them.

2. The issue is under our vigorous follow-up and we will keep our members informed of the further developments.

3. A copy of the letter addressed to IBA is annexed.

With greetings,

(G.D.NADAF)

GENERAL SECRETARY

ALL INDIA BANK OFFICERS’ CONFEDERATION

(Registered under the Trade Unions Act 1926, Registration No: 3427/Delhi)

State Bank of Buildings, St. Mark’s Road, Bangalore – 560 001

No.1452/229/11 30.05.2011

To,

Shri M.D.Mallya,

Chairman,

The Indian Banks’ Association,

World Trade Centre Complex,

Centre 1, 6^th Floor, Cuffe Parade,

MUMBAI – 400 005.

Dear Sir,

PENSION TO OFFICERS WHO “RETIRED UNDER THE VOLUNTARY RETIREMENT SCHEME OF THE BANK” OR “RETIRED UNDER EXIT OPTION SCHEME” INTRODUCED IN SUBSIDIARY BANKS

We draw your kind attention to our letter No. 1452/156/11 dated 09.03.2011 wherein we have made out a case for granting another option to join the Pension Scheme to those officers who sought Voluntary Retirement from service of the Bank as provided in OSR 19(1) to 19(7) and who did not opt for pension earlier due to various reasons. As you have not responded positively to our earlier letters i.e., Letter No. 1452/302/10 dated 28.08.2010 & Letter No.1452/482/10 dated 29.12.2010, we were compelled to invoke the provisions under clause No.14 of the Joint Note signed by IBA and AIBOC and other officers’ organisations on 27.04.2010. But to our chagrin neither you have furnished us your points of view on the issue as to how and why the above category of officers have been denied the opportunity to join the Pension Scheme nor have arranged for a Meeting to resolve the issue in an amicable manner to the satisfaction of all concerned.

2. While reiterating our demand for considering another option to join the Pension Scheme to all the Officer employees who have retired under “Voluntary Retirement Scheme” or the ‘Exit Scheme” in Associate Banks duly complying with the Provisions of Officers’ Service Regulations, we once again request you to arrange for a Meeting to sort out the issue. As denial of another option for pension to this category of officers is totally arbitrary, ultra vires the Officers’

service Regulations, illegal and unjustified, in all fairness and to meet the ends of justice. We once again request you to consider the issue positively in favour of the affected officers. Interpretation of rules should be to produce just results and not to deny the legitimate entitlement of the above category of Officers.

3. We have the confidence that you will initiate appropriate steps to correct the error crept-in and render justice to all the affected officer employees whose number in the entire Banking Industry is insignificantly small.

4. A word in reply will be highly appreciated.

Thanking you,

Yours faithfully

SD/-

(G.D.NADAF)

GENERAL SECRETARY