WHY THE RETIREES ARE MADE TO AGITATE ?
Bank Employees wages are fixed by negotiation between the UNITED FORUM OF BANK EMPLOYEES UNION [UFBU] AND INDIAN BANK ASS...OCIATION [IBA] AND RECENTLY 10TH BIPARTITE SETTLEMENT HAS BEEN CONCLUDED ON 25/05/2015 and Bank Employees are getting 15% rise in their salary. The wage revision is effective from 01/11/2012.
Bank Employees wages are fixed by negotiation between the UNITED FORUM OF BANK EMPLOYEES UNION [UFBU] AND INDIAN BANK ASS...OCIATION [IBA] AND RECENTLY 10TH BIPARTITE SETTLEMENT HAS BEEN CONCLUDED ON 25/05/2015 and Bank Employees are getting 15% rise in their salary. The wage revision is effective from 01/11/2012.
For Central Government Employees salary revision takes place through Pay Commission & Pay Commission also hears the Retirees Representatives & pension benefits are revised upward along with revision of service employees.
The unique feature of settlement In Banking Industry is, issues of the retirees too are discussed with UFBU only & IBA signs the settlement with UFBU for demands of retirees too and that too without hearing retiree organizations and makes it binding on them though Retirees] they are not signatory to settlement & even though settlement is detrimental to the interest of the Retirees.
Click Here To Read More On Pain and Problems OF Pensioners
Pension in Banking
In Banking Industry, Pension scheme was introduced by settlement signed on 29/10/1993 and with few modifications, Bank Employees pension regulation 1995 was notified on 29/09/1995. This regulation is based on pension scheme of GOI /RBI.
The BEPR 1995 was made effective from 01/01/1986 and pension for those retired employees (between 01/01/1986 to 29/10/1993) was revised / updated as per appendix to Regulation 35.
In subsequent settlement in 1997, 2002, 2007 and last one in 2012 IBA DISNOT IMPLEMENT THE PROVISION OF REGULATION 35 OF BEPR 1995 & as a result since last 20 years there is no revision in pension in Banking Industry.
ISSUES / DEMANDS OF RETIREES
1) Updation of pension for all existing retirees and family pensioners.
2) Upgrading the basic pension of all the pensioners at common & uniform index of 4440 points.
3) Periodical updation in pension alongwith every wage revision.
4) Revision in family pension on the lines of GOI / RBI Scheme.
5) Extending 100% DA Relief to all pre November 2002 pensioner.
6) Hospitalization scheme for Retired bank employees.
7) Extending 2nd Pension option to Resignees / CRS employees completing qualifying service.
All the above issues / demands of the retirees were submitted to IBA in the charter of Demand by UFBU in October 2012 i.e. well before the commencement of negotiation.
Accepting the demands of Retirees will not have burden on Banking Industry as Pension Fund is adequate to care of.
On 27/04/2010, 9th bipartite settlement was signed and another pension option to retirees too was extended considering the continued relationship of the retirees with Bank.
On 25/05/2015, IBA signed settlement with UFBU for wage revision for in service employees and also a Record Note [unconstitutional one] on the demand of retirees DENYING TO CONCEDE ANY DEMAND of Retirees stating that“ Contractual Relationship does not exist between Bank and retirees”
The meeting is organized 13/06/2015 , Saturday at Kelkar Hall ( IMA HALL) tilak Road Pune, to discuss / understand the action plan of retiree’s organization to achieve their demands in view of the Record Note signed between IBA & UFBU on 25/05/2015.
The unique feature of settlement In Banking Industry is, issues of the retirees too are discussed with UFBU only & IBA signs the settlement with UFBU for demands of retirees too and that too without hearing retiree organizations and makes it binding on them though Retirees] they are not signatory to settlement & even though settlement is detrimental to the interest of the Retirees.
Click Here To Read More On Pain and Problems OF Pensioners
Pension in Banking
In Banking Industry, Pension scheme was introduced by settlement signed on 29/10/1993 and with few modifications, Bank Employees pension regulation 1995 was notified on 29/09/1995. This regulation is based on pension scheme of GOI /RBI.
The BEPR 1995 was made effective from 01/01/1986 and pension for those retired employees (between 01/01/1986 to 29/10/1993) was revised / updated as per appendix to Regulation 35.
In subsequent settlement in 1997, 2002, 2007 and last one in 2012 IBA DISNOT IMPLEMENT THE PROVISION OF REGULATION 35 OF BEPR 1995 & as a result since last 20 years there is no revision in pension in Banking Industry.
ISSUES / DEMANDS OF RETIREES
1) Updation of pension for all existing retirees and family pensioners.
2) Upgrading the basic pension of all the pensioners at common & uniform index of 4440 points.
3) Periodical updation in pension alongwith every wage revision.
4) Revision in family pension on the lines of GOI / RBI Scheme.
5) Extending 100% DA Relief to all pre November 2002 pensioner.
6) Hospitalization scheme for Retired bank employees.
7) Extending 2nd Pension option to Resignees / CRS employees completing qualifying service.
All the above issues / demands of the retirees were submitted to IBA in the charter of Demand by UFBU in October 2012 i.e. well before the commencement of negotiation.
Accepting the demands of Retirees will not have burden on Banking Industry as Pension Fund is adequate to care of.
On 27/04/2010, 9th bipartite settlement was signed and another pension option to retirees too was extended considering the continued relationship of the retirees with Bank.
On 25/05/2015, IBA signed settlement with UFBU for wage revision for in service employees and also a Record Note [unconstitutional one] on the demand of retirees DENYING TO CONCEDE ANY DEMAND of Retirees stating that“ Contractual Relationship does not exist between Bank and retirees”
The meeting is organized 13/06/2015 , Saturday at Kelkar Hall ( IMA HALL) tilak Road Pune, to discuss / understand the action plan of retiree’s organization to achieve their demands in view of the Record Note signed between IBA & UFBU on 25/05/2015.
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