THE INDIAN BANK EMPLOYEES' UNION (A.P.)
REGD.NO.1027
BANJARA SADAN, ST.NO.15, HIMAYATNAGAR, HYDERABAD –29
CIRCULAR no.145 ... 6TH JUNE, 2015
CIRCULAR TO ALL MEMBERS PLEASE CIRCULATE
REGD.NO.1027
BANJARA SADAN, ST.NO.15, HIMAYATNAGAR, HYDERABAD –29
CIRCULAR no.145 ... 6TH JUNE, 2015
CIRCULAR TO ALL MEMBERS PLEASE CIRCULATE
Dear Comrades,
Anent the above, we reproduce hereunder the text of the circular issued by our National Organisation, AIBEA, dated 9th June, 2015, for the information of all our members, which is self-explanatory.
With greetings,
Comradely yours,
P.V.KRISHNA RAO
GENERAL SECRETARY
----------------------------------------------------------------------------------
FORMULA FOR CALCULATION OF REVISED PENSION
FOR THOSE EMPLOYEES RETIRED BETWEEN NOV. 2012 AND JULY, 2013
Under the recent 10th Bipartite Settlement, Pay Scales have been revised with effect from 1-11-2012. However, for calculating the Basic pension on retirement, we need to take the average Pay of last 10 months prior to retirement. In the case of employees who have retired during the period from November, 2012 and July, 2013, the previous 10 months period falls both under 9th BPS and 10th BPS. If the Basic Pay/Pay drawn by them under the 9th BPS is taken as it is, it would result in distortion and reduction in Basic pension. Hence, as in the previous Settlement, IBA has issued their Circular clarifying the formula to be adopted in such cases.
In terms of this Circular, in order to bring the Basic pay/Pay at par with the Basic Pay/Pay under 10th BPS, the Basic Pay/Pay drawn by the employees for the relevant period under 9th BPS will be notionally added with DA at 4440 points by adding DA of 60.15% thereon. Thereafter the average of 10 months’ pay would be calculated.
The text of IBA’s Circular No. 874 dated 8th June, 2014 is appended herein for the reference and information of our units and members.
With greetings, Yours comradely,
C.H. VENKATCHALAM
GENERAL SECRETARY
Example: A Clerk retired in March, 2013 at the Basic Pay of Rs. 24900
( his revised Basic Pay under 10th BPS is Rs. 40,710)
Basic pay under 9th BPS DA at 4440 points i.e. 60.15% Notional
Basic Pay
JUNE 2012 24900 14977 39877
JULY 2012 24900 14977 39877
AUGUST 2012 24900 14977 39877
SEPT. 2012 24900 14977 39877
OCT. 2012 24900 14977 39877
NOV. 2012/10th BPS 40710
DEC. 2012 40710
JAN. 2013 40710
FEB. 2013 40710
MARCH 2013 40710
402935
10th Average 40294
Revised Basic pension – 50 % Rs. 40294 20147
Basic pension under 9th BPS – 50 % Rs. 24900 12450
Commutation under 9th BPS (1/3) 488540
Commutation after wage revision 790570
Note: Those drawing Special Pay, PQP, FPP, etc. the same method is to adopted by including those items under Pay and adding 60.15 % of DA to arrive at notional Pay.
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INDIAN BANKS' ASSOCIATION
HR & INDUSTRIAL RELATIONS
No.CIR/HR&IR/G2/2015-16/874
June 8, 2015
Designated Officers of Banks which are parties to the 10th Bipartite Settlement/ Joint Note dated 25.05.2015
Dear Sirs/Madam
Pay for the purpose of Pension in terms of Bank Employees’ Pension Regulations
We have been receiving queries from Banks as to how the average emoluments of employees retired between 1-11-2012 and 31-7-2013 has been arrived at as these employees were governed by the pay scales prevalent during 1-11-2007 to 31-10-2012 and 1-11-2012 onwards during the 10 months preceding their retirement.
The calculation of average emoluments and Basic Pension in respect of the employees retired between 1.11.2012 and 31.7.2013 is as given in Annexure A. This adjustment is required as the employees who retired from services on or after 1.11.2012, the Dearness Relief they will be getting along with basic Pension shall be the Dearness Relief payable over and above 4440 points in the All India CPI 1960=100.
Yours faithfully,
K S Chauhan
Senior Vice President
Encl.
Annexure A
(Enclosure to Circular No.CIR/HR&IR/G2/2010-11/874 dated June 8, 2015)
Computation of Average Emoluments for calculating pension of employees retired between 1.11.2012 to 31.7.2013 for the preceding 10 months of retirement
(Model Calculation for an officer employee retired on 31.3.2013 having 33 years of qualifying service with Basic Pay of Rs.42,020/- as on the date of retirement)
(Rs.)
1. For the period of service prior to 1.11.2012
(i.e. from 1.6.2012 to 31.10.2012 (5 months)
(a) ‘Pay’ as in Bipartite Settlement / Joint Note dated 27.4.2010
25700 x 5 = 128500.00
(b) Dearness Allowance payable @ 0.15% for every slab of 4 points over and above the Index numbers 2836 points and upto 4440 points in All India CPI 1960=100
(4440 - 2836 = 1604/4 = 401 slabs X 0.15 i.e 60.15% )
15458.55 x 5 = 77292.75
Total of (a) and (b) above 205792.75... (A)
2. For the service rendered on or after 1.11.2012
upto the date of retirement, Corresponding revised
i.e. 31.3.13 (5 months)
(a) ‘Pay’ as in Bipartite Settlement/Joint Note dated 25.5.2015 42020 x 5 = 210100.00...(B)
Total of (A) and (B) 415892.75…(C)
3. Average emoluments for the preceding 10 months of retirement 415892.75 /10= 41590.00…(D)
4. Basic Pension in terms of Regulation 35(2) of the Bank Employees’ Pension Regulations =50% of 41590 x 33/33 = 20795
Anent the above, we reproduce hereunder the text of the circular issued by our National Organisation, AIBEA, dated 9th June, 2015, for the information of all our members, which is self-explanatory.
With greetings,
Comradely yours,
P.V.KRISHNA RAO
GENERAL SECRETARY
----------------------------------------------------------------------------------
FORMULA FOR CALCULATION OF REVISED PENSION
FOR THOSE EMPLOYEES RETIRED BETWEEN NOV. 2012 AND JULY, 2013
Under the recent 10th Bipartite Settlement, Pay Scales have been revised with effect from 1-11-2012. However, for calculating the Basic pension on retirement, we need to take the average Pay of last 10 months prior to retirement. In the case of employees who have retired during the period from November, 2012 and July, 2013, the previous 10 months period falls both under 9th BPS and 10th BPS. If the Basic Pay/Pay drawn by them under the 9th BPS is taken as it is, it would result in distortion and reduction in Basic pension. Hence, as in the previous Settlement, IBA has issued their Circular clarifying the formula to be adopted in such cases.
In terms of this Circular, in order to bring the Basic pay/Pay at par with the Basic Pay/Pay under 10th BPS, the Basic Pay/Pay drawn by the employees for the relevant period under 9th BPS will be notionally added with DA at 4440 points by adding DA of 60.15% thereon. Thereafter the average of 10 months’ pay would be calculated.
The text of IBA’s Circular No. 874 dated 8th June, 2014 is appended herein for the reference and information of our units and members.
With greetings, Yours comradely,
C.H. VENKATCHALAM
GENERAL SECRETARY
Example: A Clerk retired in March, 2013 at the Basic Pay of Rs. 24900
( his revised Basic Pay under 10th BPS is Rs. 40,710)
Basic pay under 9th BPS DA at 4440 points i.e. 60.15% Notional
Basic Pay
JUNE 2012 24900 14977 39877
JULY 2012 24900 14977 39877
AUGUST 2012 24900 14977 39877
SEPT. 2012 24900 14977 39877
OCT. 2012 24900 14977 39877
NOV. 2012/10th BPS 40710
DEC. 2012 40710
JAN. 2013 40710
FEB. 2013 40710
MARCH 2013 40710
402935
10th Average 40294
Revised Basic pension – 50 % Rs. 40294 20147
Basic pension under 9th BPS – 50 % Rs. 24900 12450
Commutation under 9th BPS (1/3) 488540
Commutation after wage revision 790570
Note: Those drawing Special Pay, PQP, FPP, etc. the same method is to adopted by including those items under Pay and adding 60.15 % of DA to arrive at notional Pay.
-------------------------------------------------------------------------------
INDIAN BANKS' ASSOCIATION
HR & INDUSTRIAL RELATIONS
No.CIR/HR&IR/G2/2015-16/874
June 8, 2015
Designated Officers of Banks which are parties to the 10th Bipartite Settlement/ Joint Note dated 25.05.2015
Dear Sirs/Madam
Pay for the purpose of Pension in terms of Bank Employees’ Pension Regulations
We have been receiving queries from Banks as to how the average emoluments of employees retired between 1-11-2012 and 31-7-2013 has been arrived at as these employees were governed by the pay scales prevalent during 1-11-2007 to 31-10-2012 and 1-11-2012 onwards during the 10 months preceding their retirement.
The calculation of average emoluments and Basic Pension in respect of the employees retired between 1.11.2012 and 31.7.2013 is as given in Annexure A. This adjustment is required as the employees who retired from services on or after 1.11.2012, the Dearness Relief they will be getting along with basic Pension shall be the Dearness Relief payable over and above 4440 points in the All India CPI 1960=100.
Yours faithfully,
K S Chauhan
Senior Vice President
Encl.
Annexure A
(Enclosure to Circular No.CIR/HR&IR/G2/2010-11/874 dated June 8, 2015)
Computation of Average Emoluments for calculating pension of employees retired between 1.11.2012 to 31.7.2013 for the preceding 10 months of retirement
(Model Calculation for an officer employee retired on 31.3.2013 having 33 years of qualifying service with Basic Pay of Rs.42,020/- as on the date of retirement)
(Rs.)
1. For the period of service prior to 1.11.2012
(i.e. from 1.6.2012 to 31.10.2012 (5 months)
(a) ‘Pay’ as in Bipartite Settlement / Joint Note dated 27.4.2010
25700 x 5 = 128500.00
(b) Dearness Allowance payable @ 0.15% for every slab of 4 points over and above the Index numbers 2836 points and upto 4440 points in All India CPI 1960=100
(4440 - 2836 = 1604/4 = 401 slabs X 0.15 i.e 60.15% )
15458.55 x 5 = 77292.75
Total of (a) and (b) above 205792.75... (A)
2. For the service rendered on or after 1.11.2012
upto the date of retirement, Corresponding revised
i.e. 31.3.13 (5 months)
(a) ‘Pay’ as in Bipartite Settlement/Joint Note dated 25.5.2015 42020 x 5 = 210100.00...(B)
Total of (A) and (B) 415892.75…(C)
3. Average emoluments for the preceding 10 months of retirement 415892.75 /10= 41590.00…(D)
4. Basic Pension in terms of Regulation 35(2) of the Bank Employees’ Pension Regulations =50% of 41590 x 33/33 = 20795
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