Sent: Wednesday, 29 November 2017 5:40 AM
Subject: Bank Employees' Pension Regulations 1995 - Amendments - Gazette Notification -Clarifications/information sought
Subject: Bank Employees' Pension Regulations 1995 - Amendments - Gazette Notification -Clarifications/information sought
N. Harinarayana Sarma
Senior Branch Manager (Retd).
From a Public Sector Bank
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H. No. 3-1-5, Flat No. 105,
Block No. VII,
‘SILICON RIDGE’, Attapur,
Hyderguda Post,
HYDERABAD 500 048
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The Secretary,
Ministry of Parliamentary Affairs,
Government of India, New Delhi - 110 001
Dear Sir,
Sub: Gazette of India - Extraordinary -Part II Section 4 Notification No.428 dated 6th November, 2017
The above notification is seen issued in the name of MINISTRY OF FINANCE with an opening portion as:
“MINISTRY OF FINANCE(Department of Financial Services)
NOTIFICATION
Mumbai, the 18th September, 2017
F.No.6113,- In exercise of the powers conferred by clause (f) of sub-section (2) of section 19 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 ( 5 of 1970), the Board of Directors of the Union Bank of India in consultation with the Reserve Bank of India and with the previous sanction of the Central Government, hereby makes the following regulations further to amend the Union Bank of India (Employees') Pension Regulations, 1995, namely:
1 (1) These regulations may be called the Union Bank of India (Employees') Pension (Amendment) Regulations, 2017
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and it concludes with the following:
“EXPLANATORY MEMORANDUM
The regulations which have been given retrospective effect are as per the agreed terms and conditions of the settlements and Joint Notes signed between the Indian Banks' Association on behalf of member banks on the basis of specific mandate given by the respective banks in this regard and apex level workmen unions and officers' associations of the Banks. Therefore, interests of no person shall be adversely affected by such retrospective effect.
R R MOHANTY, (General Manager (HR)
(ADVT.-III.4 /Exty./298/17 ”
Contrary to what is stated in the explanatory memorandum, the amendments notified prejudice the relative regulations by depriving the employees recruited on or after 31.03.2010, depriving mployees who were in service of the Bank on 29.09.1995 to 26.04.2010 of their statutorily vested pension from the date of retirement to 26.11.2009. This apart, it intercepts regulations 5.3 and 11 of the original Pension Regulations by authenticating a fraudulent collection of a contribution of 2 .8 times pay for November, 2007 by the Bank in the case of employees in service and 56 percent of CPF paid on retirement in the case of retired employees to the Pension Fund of the Bank.
Section 19.1 and 19.4 of the Act 5 of 1970 mandate that any amendment to a regulation shall not prejudice what is earlier done under a regulation and section 19.4 further lays down that any amendment," as soon may be, as after it is made" shall be forwarded to the government and that the government shall table in both the Houses of the Parliament for a period of 30 days and will have effect in the way it is approved by the Houses or will be of no effect and prohibits any amendment that takes away the sanctions under the regulations.
In the above circumstances, I request you to kindly let me know:
1. Where the amendments envisaged through the notification were laid in the Houses of Parliament;
2. The period during which they were laid in the Houses;
3. How the amendments that ought to have been laid in the Houses sometime in the year 2010 itself (since the Joint Note envisaging the amendments notified was signed on 27.04.2010) was laid after an inordinately long period;
4. How the amendments that prejudice what were done earlier under the relative regulations were placed in the Houses transgressing section 19.1 and 19.4 of Act No. 5 of 1970;
5. The enabling provision per which the General Manager ( H R ) of the Bank authenticated the notification in the name of the Ministry of Finance from Mumbai, that too from a place where the Ministry of Finance has no office.
I request you to kindly look into the matter and initiate steps to repeal the unwarranted notification under intimation to me at the earliest.
Thanking You,
Yours faithfully,
(N.HARINARAYANA SARMA)
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