Outcome Of Latest Meeting With IBA

BANK KARMACHARI SENA MAHASANGH
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 *XI BIPARTITE SETTLEMENT*
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Talks on Friday, 15 Nov 2019

Today's talks were great disappointment.  Nothing worth mention came up.

*Gist of Discussions :*
1.  IBA informed that yet two banks have not given mandate for Negotiations upto scale VII. But they will get it.

2.  *PLI :* That is "Performance Linked Incentive". Unions asked IBA to decide about parameters on which *PLI* will be fixed. But they have given In Principle consent to implementation of *PLI.*

3.  Pension related issues were discussed. With the same quantum of Pension, Load on a/c of it has risen substantially. Because of increase in Life Expectancy. It has gone up to 80 to 84 years on average. IBA informed.

4.  *Spl Allow :* If Spl Allow is merged with Basic, Contribution to Pension Fund by banks goes up substantially. It increases Loading amt.

5.  Increase in Family Pension increases load factor due to same reasons as Pension. Hence Pension provision needs fresh calculations. It needs appointment of professional Actuaries. Unions are requested to suggest two Actuaries on their behalf. IBA has also given papers of fresh calculations for provisions on a/c of Pension.

5.  There was suggestion from Unions on shifting of Base of Index for DA calculations. Price Index Series should be latest.

6. *PL* Demand for increase in PL accumulation and encashment on superannuation level was taken up. No conclusion.

7.  Medical Insurance Premium for Pensioners was discussed.

8. New Pension Scheme *:* Suggestions to make it more attractive were discussed.

9. *Small Committee Meetings :*  are scheduled
For Officers  *21 Nov*
For Workmen *27/28 Nov*

In these meetings certain issues will be finalised and then taken up in Main Meeting subsequently.

Thank you.

*VILAS GHUGARE*     🙏
General Secretary