Saturday, October 7, 2017

Pension On Special Pay be Made Key Demand

The special pay of 7.5% on basic pay was specifically excluded from arriving at the fixation of basic pension in 10th Bipartite. Now during the wage negotiations for 11th BPS, there is a demand to add this special pay to arrive the Basic Pension.

The volume of retirement is the highest during the 10th BPS. These retirees too should get their pension refixed by including the special pay. If not it allows for anomaly for the retirees during this specific period.

The Banks have saved crores every month by this ineligibility of special pay for pension. The individual may be loosing quite a few thousands of basic and DA thereon in the process.

Say for example, your Basic pension is 50000 without special pay(without any other allowances, only on basic pay), then 50%of 7.5% is your loss in basic pension. In this case 50000 x 3.75% is 1875 add DA notionally at 50% is 937.50 The total loss is 2812.50. Annually it becomes 33750.

For lakhs of pensioners who retired during this period, the amount will be phenomenal. Pensioner's loss is banks gain.

I request the people at the helm to take up the matter during this 11 BPS talks and restore special pay for pension for the people who retired during 10th BPS. The pension has to be refixed retrospectively for those who retired during the 10th BPS.

The banks are saving a lots right through the nose of the pensioners extracting just few hundreds from each pensioner every month. It is as bad as petrol diesel price hike every day right through the nose of consumers.

Indeed spread the knowledge to your fellow pensioners and escalate the issue to your related pension association

All Retirees, especially during the period please share this post, just to know reality of this issue is understood by all pensioners. Also please share to your bank pensioner friends

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