Why There is a Need for Updation of Pension for Bankers At the time of Every Settlement

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Why There is a Need for Updation of Pension for Bankers At the time of Every Settlement - Part I

There has been a demand from the retired pension optees for long that banks are not revising their pension at the time of Bipartite Settlements. The next settlement is due wef 01/11/2012. Thus, we have been receiving number of representations wherein the option optees have been requesting for starting a campaign to garner support for this issue so that this can be taken up in a big way at the time of next bipartite settlement. We will be uploading the mails received from our readers in this respect.

nraosurya1949@gmail.com

While pensions of Central Government pensioners, State Government Pensioners and armed personal are revised every time their salaries are revised, why should Bank Pensioners be deprived of the same? In the present days of high inflation, retaining the same amount of pensions without revising throws the senior citizens to much starvation. Is it the way to treat the Senior Citizens retired from Banks? Are they not like the senior citizens retired from central / State Government services. Further please verify the variation in the amount pension drawn by a retired General Manager retired a decade ago and a newly retired clerk of a Bank.

Unfortunately the so called leaders of Unions, who are enjoying all facilities at the cost of members do not take minimum interest in this matter, perhaps the leaders feel that they need not do any thing for the retired bankers as the enjoyment at the cost of the latter will stop on their retirement and the cannot derive any further benefits from the retired. Please therefore, take up the matter and make the leaders realize that they should change their attitude and include the matter of demand for Pension Revision in the charter of demands they submit at the next wage revision (wef 01.11.2012), if they are real leaders.

Regards,
P Nageswara Rao
Email id: nraosurya1949@gmail.com

ramachandramenon@yahoo.com

I retired as a Scale III officer with effect from 1/3/1995.

Recently the parliamentary committee attached Defense department recommended for one rank one pension for all defense personnel. Is there any likelyhood of the pension of bank employees being revised. Is there any court case filed by anybody pending in the courts? Please indicate in your website.

umeshraval@gmail.com

Sir,

IBA & all bank union Must update the pension of retired bankers at the time of bi parted settlement. Looking to the

high rise in the prices of all daily routine. The cost of all type of medical expenditures are increasing. So it must start from Nov 2012

Regards

Umesh Raval

subramaniancb@yahoo.co.in

Every central government pensioner is getting revision whenever revision of salary takes place. The persons who have retired in early 70s are getting fatty pension which they would not have even dreamt of. In fact at the time of their retirement some of them would not have drawn a four figure salary. Thanks to the salary revision every ten years, now some of the retirees of 1970s are getting five figure pension.

When government employees who do not contribute much to the growth of economy, the growth engines viz. Banking industry employees should get revision of pension without their asking for it. The natgionalised banks industry are not only a growth engines, they also make profits and contribute part of their profits to the government by way of dividend.

Even the salary level of senior management staff of banks are downgraded. General Manager�s salary is downgraded to the level of joint secretary, whereas the responsibilities of even a Scale III Senior Manager of a Bank is much more than that of a joint secretary in government.

pmadhavadas@gmail.com

I am a retired bank officer and my opinion is that banker's pension should be updated at the time of every revision of salary for serving bank staff

as in the case of Central/State governmental staffs/ Army staffs and this should be taken up with IBA atleast in the next wage revision talks

t.sivadasan

ashok goel <ashokgoel47@in.com>

Why There is a Need for Updation of Pension for Bankers At the time of Every Settlement

Really it is very much painful question. Why we ask food after every 6 to 8 hours? why the work force of even unorganised sector cries for the regulations and some increase in their daily wages. Why capitalists expand their financial regimes? why the working employees need upward revision?

As we have limited field about bankers. we will discuss that what is the need of wage settlements/ negotiations? working bankers need upward wage revision after every 4 years ( this was extended to years ) . on the very same ground and basis retired bankers who are getting pension needs updation of pension. there should be some mechanism that at the time of every settlement basic pension automatically got revised and if possible some medical allwance should also be included in the pension

In ccs rules pension revised automatically at the time of implementation of reports of the pay panels and commissions. If settlement sees some new in it commission should be asked to the bankers. Every settlement needs to include revision of pension like wages and salaries.

We appeal to the trade unions and the associations of the bankers to educate the banks accordingly.

Thanks
ashok kumar goel
vrs retiree

BANKS MADE VARIOUS UNEQUALS WITHIN EQUALS

PENSION TO BANK EMPLOYEES

STUFF FULL OF MIRACLES.

NUMEROUS TIMES THE LABOUR JURISPRUDENCE OF THE COUNTRY URGED THE STATE AND OTHERS NOT TO DIFFERENTIATE WITH IN EQUALLY SITUATED PERSONS IN THE COUNTRY

THERE ARE FOLLOWING TYPES OF CAGES AND CELLS CREATED FOR PENSIONERS IN BANKS ARE AS UNDER.

1. PRE 1.1.18986 RETIREES

2. RETIREES BETWEEN 1.1.1986 TO 31.10.1992/ 30.06.1993.

3. RETIREES FROM 1.11.1992 TO 31.03.1998

4. RETIREES FROM 1.4.1998 TO 31.10.2002.

5. RETIREES FROM 1.11.2002 TO 31.10.2007

6. RETIREES FROM 1.11.2007

7. NEW OPTEES AS PER AGREEMENT OF 27.04.2010 UNDER RETIRED CATEGORY.

8. NEW OPTEES AS PER AGREEMENT OF 27.04.2010 UNDER SUB CATEGORY EXISTING EMPLOEES.

THESE ARE THE PENSIONERS WHO WERE MADE UNEQUALS WITHIN EQUALS.

KINDLY ASSESS THE NECESSITY FOR SUCH UNJUST DIVISION.

PENSIONER MEANS PENSIONER AND CANNOT BE UNDERLINED BY ANY MARK ON THEIR HEADS.

PRE 1.1.1986 RETIREES ARE GETTING ONLY RS. 300 PER MONTH PENSION AS EXGRATIA. THERE IS NO UPDATION / ENHANCEMENT SINCE THEN TILL JULY 2011 FOR ABOUT 18 YEARS.

RETIREES BETWEEN 1.1.1986 TO 31.10.1992 ARE GETTING PENSION BY MERGING 600 INDEX .

A. THERE IS NO UPWARD REVISION SINCE THAN FOR ABOUT 18 YEARS. THERE ARE 4 STAGES AS FOLLOWS FOR DEARNESS RELIEF.

BASIC PENSION UPTO RS. 1250 PM.

��..FROM RS. 1251 TO RS. 2000PM.

��..FROM RS. 2001 TO RS. 2130 PM.

��..ABOVE RS. 2130 PM.

RETIREES BETWEEN 1.11.1992 TO 31.03.1998 ARE GETTING PENSION BY MERGING 1148 INDEX.

THERE IS NO UPWARD REVISION FOR 18 YEARS.

THERE 4 TIERS BY WHICH DR IS PAYABLE.

BASIC PENSION UPTO RS.2400 PM.

��.FROM RS. 2401 TO RS. 3850 PM.

��.FROM RS. 3851 TO RS. 4100 PM.

��.ABOVE RS. 4100 PM.

RETIREES BETWEEN 1.4.1998 TO 31.10.2002 ARE GEETING MERGER AT 1616 INDEX. FROM 1.4.1998 TO 30.04.2005.

THESE RETIREES ARE GETTING COMMUTATION BY MERGING 1616 INDEX WHEREAS THEY WERE DRAWING ACTUL SALARY BY MERGING 1684 INDEX. THOUGH

SINCE 1.05.2005 THE RETIREES ARE UNDER THIS GROUP ARE GETTING DA AFTER MERGER 1684 INDEX.

THESE GROUP LOST THEIR REVISED BASIC PENSION FROM 1.4.1998 TO 30.04.2005 BEING DIFFERENCE IN 1684-1616= 68 POINTS OF INDEX. FOR ABOUT 6.5 YEARS.

THIS CATEGORY STILL COULD NOT GET THEIR REVISED VALUE OF COMMUTATION. EVEN THEY ARE NOW DRAWING PENSION AT 1684 INDEX BUT ENJOYING COMMUTATION ONLY ON 1616 POINTS.

IT IS NOT EASY TO REMEMBER THESE ANAMOLIES. NOW THE MADRASHIGH COURT ON 28.6.2011 DECIDED THAT RETIREES UNDER THIS CATEGORY are ENTITLED BASIC PENSION AND COMMUTATION BY TAKING INTO ACCOUNT 1684 INDEX. BECAUSE THIS WAS THE BASIC SALARY WAS DRAWING BY THEM WHILE IN SERVICE. HIGH COURT GIVEN 12 WEEKS TIME FOR IMPLEMENTATION. HERE IT IS HUMBLY URGED TO GOVT./IBA/UNIONS TO URGE THAT THE ORDERS OF THE MADRAS HIGH COURT SHOULD BE IMPLEMENTED.

THERE IS NO UPWARD REVISION OF THEIR PENSION FOR 13 YEARS NOT ON A SINGLE TIME.

THERE ARE 8 TIERS OF DA IN THIS CATEGORY.

RETIREES UNDER THIS CATEGORY ARE DRAWN DA FROM 1.4.1998 TO 30.04.2005 BASED ON THE FOLLOWING SLABS.

BASIC PENSION UP TO RS.3380 PM.

��.FROM RS. 3381 TO 5420

��..FROM RS. 5421 TO RS. 5770 PM.

��..ABOVE RS. 5770 PM.

SEE AGAIN THE MIRACLE IN GRANTING DA.

THE ABOVE CATEGORY IS PRESENTLY DRAWING DA FROM 1.05.2005 AS FOLLOWS.

BASIC PENSION UO TO RS. 3550 PM.

��.FROM RS. 3551 TO 5650 PM.

��..FROM RS. 5651 TO RS. 6010 PM.

��ABOVE RS. 6010 PM.

IT IS STRANGE ENOUGH THAT INSPITE OF THE ABOVE CORRECTION EFFECTIVE FROM 1.5.2005 IN DA THESE RETIREED ARE GETTING COMMUTATION AFTER TAKING IN TO ACCOUNT ONLY 1616 INDEX.

RETIREES BETWEEN 1.11.2002 TO 31.10.2007 ARE GETTING BASIC PENSION BY MERGING 2288 INDEX.

THE RETIREES UNDER THIS GROUP ARE GETTING DA WITH 100 PERCENT NEUTERALISATION.

THERE ARE TWO SUB CATEGORIES UNDER THIS GROUP. FIRST FROM 1.11.2002 TO 30.05.2005 AND THE OTHER IS FROM 1.05.2005 ONWARDS.

RETIREES UNDER THIS GROUP are DRAWN DA ON THEIR PENSION ON 1684 INDEX FROM 1.11.2002 TO 30.04.2005. THE SAME WAS CORRECTED ONLY WITH EFFECT FROM 1.05.2005. NO ARREARS WERE ALLOWED FROM 1.11.2002 TO 30.04.2005. ABOUT 30 MONTHS PENSION ARREARS WAS FORFIETED BY THE STATE. STRANGE FURTHER THAT THOUGH PENSIONERS GOT DIFFERENCE OF BASIC PENSION FROM 1.05.2005 BUT EVEN THEY DID NOT GET DIFFERENCE OF COMMUTED PORTION.

THERE IS NO UPDATION OF PENSION IN THIS GROUP EVEN AFTER LAPSE OF LONG 9 YEARS.

RETIREES AFTER 1.11.2007.

THESE RETIREES ARE GETTING DA WITH 100 PERCENT NEUTERALISATION OVER 2836 INDEX.

THESE RETIREES ARE AGAIN SUB DIVIDED IN TWO SUB HEADS/CAGES.

FIRST FROM 1.11.2007 TO 26.4.2010 AND OTHER WHO WERE IN BANKS SERVICE AS ON 27.04.2010.

UNDER THIS GROUP THE OPTEES WERE ALSO ASKED TO CONTRIBUTE SOME PENALTY TO FUND THE GAP IN PENSION FUNDING. THE GROUP SHOULD THANKS TO THE SMALL NUMBER OF BANKERS OF CANARA BANK WHO FILED THE CASE IN MADRAS HIGH COURT AND DURING PENDENCY PARTIES ACCEPTED THEIR MISUNDERSTANDING AND THE GREAT IDEA OF PENALTY WAS THROWN AWAY WITHIN A NIGHT OF 10 HOURS.

NOW THE CASE STARTS FROM THE RETIREES AND SERVING BANKERS.

THERE WERE RETIREES WHO COULD NOT OPT PENSION ON PREVIOUS OCCASION DUE TO INCLUSION OF REGULATION 22.4.B. IN PENSION REGULATIONS.

SUCH BANKERS WERE ALSO DIVIDED IN TO TWO TYPE OF CELLS. FIRST WHO WAS IN BANKS SERVICE AS ON 27.07.2010 -THE DAY OF NEW PENSION PACT INKED ON 27.04.2010. SECONDLY RETIREES WHO WERE RETIRED UP TO 26.04.2010. FIRST CATEGORY WAS NAMED RETIRED BANKERS AND THE OTHER WAS NAMED EXISTING EMPLOYEES.

NOW THE SETTLEMENT CAME INTO PICTURE AND DIRECTED THAT RETIREES WHO OPTS FOR PENSION NOW WILL HAVE TO PAY 56 PERCENT OF CPF AS PENALTY. AND EXISTING EMPLOYEES WHO OPT FOR PENSION SCHEME NOW WILL HAVE TO PAY TO THE STATE 2.8 TIMES OF PAY OF THE REVISED PAY FOR THE MONTH OF NOVEMBER. 2007.

NOW THE CASE OF THE RETIREES WILL BE DEALT.

PACT CRIES THAT PENSION WILL BE STARTED FROM 27.11.2009. WHY NOT FROM THE ACTUAL DATES OF RETIREMENTS.
WHEN THE STATE EXCAVETED 56 PERCENT PENALTY/ INTEREST ETC. FROM THE OPTEES WHAT IS THE VALIDITY IN WITH HOLDING THE PAYMENT OF PENSION FROM THE RESPECTIVE DATES OF PENSIONS UP TO 26.11.2009.
WHO WILL DECIDE THE DATE 27.11.2009? WHAT IS THE BASIS AND LOGIC IN THIS DATE?
OPENING PENSION AGAIN WAS ON THE DISCUSSION TABLE SINCE PUBLICATION OF FINAL PENSION REGULATIONS OF 1995. THE UNIONS WERE AGITATING AND DEMANDING DELETION OF PARA/REGULATION 22.4.B AND FOR START FRESH OPTIONS TO PENSION SCHEME.
UNIONS INTESIFIED THEIR AGITATION AND ISSUED NOTICE FOR TWO DAYS ALL INDIA STRIKE. ULTIMATELY THE STATE RECTIFIED AND REGULATION 22.4.B WAS AMENDED AND PUBLISHED IN OFFICIAL GAZZETTE ON 27.02.1999.
BUT STILL ITS AMENDMENT BANKS DID NOT ASKED FOR PENSION AFRESH. THE ISSUE WAS CAME UP FOR FURTHER AND FURTHER DISCUSSION. AFTER SO MANY DILLEMMAS AND ALSO AFTER SO MANY EFFORTS FROM THE BANKERS SIDE THE DREAM WAS TAKEN A SHAPE.
AND IN FURTHERANCE OF THE ABOVE BACK GROUND PACT WAS INKED ON 27.04.2010 AND THOUGH OPTION WAS NOT OPENED AFRESH BUT IT WAS SAID ANOTHER OPTION TO PENSION SCHEME.
IN THESE BACK GROUND THERE IS NO LEGAL AND JUST BASIS TO START PENSION FROM 27.11.2009.
THE DATE FOR COMMUTATION WAS NOT AGREED UPON UNIFORMLY IN ALL BANKS . banks TREATED COMMUTATION APPLICATION DATES SEPARATELY.
IT WAS JUST THAT NOTIONALLY DATES FOR COMMUTATION SHOULD BE THEIR ACTUAL DATES OF RETIREMENTS.
THE NEW OPTEES [ RETIREES BETWEEN 1.04.1998 TO 31.10.2002] ARE GETTING DEARNESS RELIEF AFTER MERGER OF 1684 INDEX though only from 1.5.2005 AND COMMUTATION IS ENJOYING ON 1616 INDEX. WHAT IS THIS DEAR Representatives?
FOR BRVITY I AM NOT DEALING IT FURTHER.
WHEN THEY WILL GET REFUND OF THEIR COMMUTED PORTION OF PENSION SAY AFTER 15 YEARS WHEN THEY WILL CROSS THEIR AGE OF 85 YEARS.

THE CASE OF THE EXISTING EMPLOYEES STARTS NOW.

THEY ARE IN EMPLOYMENT. THERE IS NOT ANY JUSTIFICATION FOR ASKING ENTRY LOAD OF 2.8 TIMES OF REVISED PAY FOR THE MONTH OF NOVEMVER, 2007.

THEY HAVE NOT TASTED EVEN THE TASTE OF BANKS CONTRIBUTION REFUND FOR A SECOND.

I AM SORRY THAT I FORGET TO INCLUDE THE CASES OF THE RESIGNEES AND VRS RETIREES UNDER VARIOUS OFFICERS SERVICE REGULATIONS AND SETTLEMENTS AND THE VRS CASES UNDER PARA522 OF THE SHASTRY AWARD.

THE OPENING OF OPTION TO PENSION UNDER AGREEMENT OF 27.04.2010 IS NOT ANY NEW SCHEME. A MISTAKE WAS REALISED AND OPENNING OF OPTIONS ARE THERE. THOUGH IT SHOULD BE EFFECTIVE FROM ITS INCEPTION. HENCE THOSE WHO WERE IN EMPLOYMENT ON 1.11.1993 AS PER SETTLEMENT DATED 29.10.1993.

ALL WHO WEERE IN SERVICE ON THIS DATE OF 1.11.1993 ARE ELIGIBLE TO APPLY FOR ANOTHER OPTION TO PENSION.

ON THIS BASIS EVERY ONE WILL BE COVERED IN 2^ND. OPTION TO PENSION AND DISPUTE OF RESIGNEES/VRS OPTEED UNDER OFFICERS SERVICE REGULATIONS/COMPULSORILY RETIRED/DISMISSED EMPLOYEES . BANKS SHOULD TREAT THIS 2^ND. TIME OPTION TO PENSION NOTIONALLY AS THEY WERE ON ROLLS ON 1.11.1993 AND APPLYING FOR PENSION AS IF THEY ARE IN SERVICE ON 1.11.1993 AND COULD NOT OPT WHEN IT WAS OFFERED DUE TO PRESENCE OF THE BLACK REGULATION NO. 22.4.B UNDER REGULATIONS,1995 .

I HUMBLY PRAY TO ALL CONCERNED PARTIES TO START MEANINGFUL Talks for redressing the pension dispute. all the pensioners are senior citizens and ambassadors of the banks .

With warm greetings and regards

dkk15@rediffmail.com

Dear Sirs,

Questioning the need for updation of bankers� pension is akin to asking why the serving bank men need a bipartite. The pensioners need the updation for their very survival with decency.

When I joined the bank as a clerk in 1973 with a starting basic of Rs.170/-p.m., the Bank deducted 8.33% of my basic pay towards Provident Fund. On every subsequent bipartite settlement the Bank rightfully deducted 8.33% of Basic Pay towards PF only on the updated Basic Pay. Even after the pension scheme was introduced in 1995, the Bank deducted 8.33% of my Basic pay on the updated bipartites, promising me pension. This continued till I got my retirement under VRS 2000.

But after my retirement, i.e. when the Bank started paying me back, the updation of my Basic Pension was stopped abruptly, again for reasons known only to the Unions/Associations and the IBA although they were entering into various bi-partite agreements . To deceive and to fool the Pensioners a new concept of Joint Note was introduced. There was updation when I had to pay the Bank and when the Bank started paying there is no updation. Is the updation in Bank is a one way traffic?

It is puzzling that when there is updation in DA for the pensioners as like serving employess then why there is no updation in Basic as like serving employees.

As per the Thesars Legend , pension is - a regular payment to a person that is intended to allow them to subsist without working.

I am still wondering whether this un- updated pension and the delayed updation in eligible DA will allow the Pensioners to subsist without working.

Again, Pensioners are updated with the increased Dearness Allowance as like as the serving employees although the DA increase is in once in 6 months (not once in 3 months as paid to the serving employees) for reasons best known to the Unions/ associations.

The price of food articles etc. increases for everyone at the same time, whether you are a serving employee or a retired pensioner.. My grocer does not wait for another 3 months even if I request him that as a pensioner I am getting my increased Dearness Allowance with a delay of 3 months. For him all are same whether you are a serving bank employee or a retired bank employee.

If the Banks feel that they are earning profits only for writing off the loans of the willful defaulters or as per the directions of the Govt. and to hand over the profit to the Govt but are unable to pay their staff like what the Govt. servants are getting, they should have stopped cajoling us for VRS in 2000. Both retired and serving Bank employees have become a laughing stock before the Govt. employees.

It is my humble opinion that the present set up of Unions /Associations which are working against the interest of even the serving employees, on whose subscription they survive, may further deceive the pensioners with their Joint Notes in future Bipartites. Supreme Court may be the pensioners� last resort.

D.Karunakaran - dkk15@rediffmail.com

anil.renu.gupta@gmail.com

We are making all our efforts to revise the pension on the revision of settlement,but no-body care for those Sr.Citizen who contributed their services in banking industry.

Every bank is paying Ex gratia Rs.1000/- PM to pre-1986 retiree spouse.Probably less than payment in NAREGA (Government of India Scheme.Please look towards few numbers and helpless people also.

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