To Know The Impact Of Xth Bipartite Settlement on
Payment Of Pension , Please click On link given below.
And If you have any suggestion or you find any mistake in it
please point out the same in the interest of all bank staff.
I however appreciate the good work done
by Sri Pannavalan.
Bank unions will be formally signing the new wage revision agreement with the industry body Indian Banks Association (IBA) on Monday, one of the heads of the unions said on Friday.
Payment Of Pension , Please click On link given below.
And If you have any suggestion or you find any mistake in it
please point out the same in the interest of all bank staff.
I however appreciate the good work done
by Sri Pannavalan.
Bank unions will be formally signing the new wage revision agreement with the industry body Indian Banks Association (IBA) on Monday, one of the heads of the unions said on Friday.
The pact, which will benefit 8.5 lakh employees from all the state-run banks, old generation private banks and some large foreign banks, will be signed after years of lengthy negotiations between the UFBU (United Forum of Bank Unions), an umbrella of nine unions and the IBA.
On February 23, the parties had announced a deal under which employees would be given 15 per cent wage hike on pay-slip components, which will result in an additional salary burden of Rs 4,725 crore per year to the system.
All-India Bank Employees Association (AIBEA) general secretary C H Venkatchalam and a member of negotiating team of the UFBU said the pact will be signed on Monday.
A senior IBA executive also confirmed in Mumbai that the agreement will be formally signed on Monday.
Under the February agreement, both the parties had agreed to settle all the pending issues in 90 days, which ended today.
The negotiations are under final stage and will be closed by Monday when the agreement will be signed, Venkatchalam said.
The agreement for which the employees have repeatedly struck work, says state-run bank employees will be able to get an off on alternate Saturdays.
This is a departure from the current practice, where employees work for half-day on Saturdays.
To compensate for this, they have agreed to work full day on alternate Saturdays.
Wage revision in state-run banks is done every five years and the last was done in 2007. Venkatachalam said the current revision will be applicable from November 2012.
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Impact of Xth Bipartite Settlement On Pension By Pannavaran
Click here To Know Impact of Wage Revision On Pension
You given the picture before commutation, what after commutatio? Please clarify.
ReplyDeleteWonderful settlement for pensioners? Congratulations to our able leadership? So far as I recollect, the 15% increase was for pay slip components? Did it simply mean that IBA offered for no revision of pension and UFBU oblige them? Are you aware of any such settlement in any other Industry? Are our great leaders (mostly retired) not setting an example of sacrifice by not asking for good increase in their pension? Do they need pension at all? Kindly enlighten. May be I am wrong, but in my humble view, with a heavy heart I feel that the time for Trade Unions particularly in Banking Industry is over. There appears to be lack of able, intelligent, far-sighted & dedicated leadership. Shall we fondly remember the present leadership like we remember old trade union veterans who rendered selfless service to the comrades?
ReplyDeleteSir, It appears to me that only the revised increment component (i.e. equivalent of the last drawn revised increment) shall be taken into account for calculation of pension. However, kindly clarify. Regards
ReplyDeleteSorry omitted word 'of FPP' after the words revised increment component.
ReplyDeletee.g. in my opinion only FPP Rs.1800 will be taken into account for calculation of revised pension and not Rs.2912.25 (in case of Scale V). However, please clarify.