OCT 2017 by Jayaprakash Nagarajarao
Our sincere thanks & gratitude to one & all who have been consistently supporting our endeavour of periodically raising the plight of our Bank Retirees of not getting lawful & legitimate rights of periodical Updation of pension, 100% DA Neutralisation, improvement in Family Pension, besides denial of pension option to CRS, Resignees etc.,
Support to our endeavour received from more than 7500 & pace of encouragement is still in full swing. Thank you.
Respected Bank Retirees are aware that how the UFBU & IBA have been signing joint notes in each every wage settlement since 1995, the year Bank Employees Pension Fund Regulations came in to in force violating important provisions of the Regulations.
The so called protectors of Bank Retirees have not ensured that Banks were mandatorily expected to make contribution solely to pension fund as per Reg. 5 & violating that, additional contributions was detrimentally recovered from arrears & otherwise during 2010 which was totally unlawful. This needs to be refunded with interest to all.
Regulation 56 has not been forcefully demanded for periodical updation as equally applicable to central govt pensioners.
Regulation 11 has been grossly violated.
Section 19 of Banking Regulation Acquisition & Transfer of undertaking Act has been totally violated.
All the joint notes signed prejudicially with IBA & administrative orders issued periodically by MOF are mandatorily required to be placed before the Parliament for assent within 30 days failing which all such agreements, understandings reached between the cozy parties becomes null & void.
It is ridiculous to note that IBA always declined to consider pension updation citing subjudice as some cases are pending in various courts. Stray cases are filed by individuals in respect of infringment of Leave encashment, gratuity, pension option to CRS, Resignees & others.
When IBA cites certain individual stray cases, at the same time, why IBA is not respecting judicial pronouncements already held in cases like D. S Nakara, WP 1123/2015, WP 4005/2017, Writ of Mandamus decided by Kerala High Court in favour of Sri. Venupal.
Now, it is left to the wisdom of the UFBU to introspect all their previous actions of understandings reached during last 25 years. Taking the verdicts of various courts, UFBU should introspect & should file suit organisationally against IBA/Govt and ensure reinstament of periodical updation of pension & other legitimate rights to Bank Retirees as per Reg 56 at par with Central gov pensioners.
Our pension Corpus funds are exceedingly abound without any cost to the exchequer & interest earnings on said accumulated fund itself is sufficient to service payment of pension & periodical updation. After all, the legitimate rights demanded are to be considered from our own accumulated Corpus fund and not against any budgetory allocations.
This can be achieved by exerting pressure on decision makers & all other counterparts, if all Retirees lodge individual plaints poured on pgportal.
Please act now within the remaining longivity, otherwise it will never be achieved.