Central Office: “PRABHAT NIVAS” Regn. No.2037
Singapore Plaza, 164, Linghi Chetty Street, Chennai-600001
Phone: 2535 1522, 6543 1566 Fax: 4500 2191, 2535 8853
e mail ~ chv.aibea@gmail.com & aibeahq@gmail.com ...
CIRCULAR LETTER NO. 27/117/2015/13 16th February, 2015
TO ALL OFFICE BEARERS, STATE FEDERATIONS AND
ALL INDIA BANKWISE ORGANISATIONS
Dear Comrades,
Calculation of average emoluments for the purpose of pension – Determination of last months period for arriving at average emoluments – impact on account of participation in strike with loss of pay
In the light of our call for strike for 4 days from 25th Feb.2015, some queries have
been made to us regarding the impact on calculation of pension consequent to loss
of pay for participation in strikes. In this regard, we furnish herein the clarification
given by IBA ( dt. 22-5-2002 ) to one of the Banks when the issue was referred to
them.
“ We are to inform you that the subject matter was an issue for
consideration before the Working Group of IBA which met on 18th
April, 2000. The members of the Group, after deliberating on the issue, decided
that the participation in strike during the last 10 months before retirement should not affect the employee’s pension for all times to come and such the average emoluments for the purpose of arriving at pension payable in such cases shall be calculated as given under
Regulation 38 (4) of Bank Employees pension Regulations, 1995.”
Our units may circulate the above for the information of our base units and
members.
Our units should also ensure that all employees who are retiring in the next few
months should participate in the strike without fail. In fact, the new Settlement will
benefit them because in addition to revised wages from 1-11-2012, their retirement
benefits will also undergo substantial improvement due to wage revision.
With greetings,
Yours Comradely,
C.H. VENKATACHALAM
GENERAL SECRETARY
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