To,
narendramodi1234@gmail.com
nirmalasitharaman@gmail.com
Respected sir,
Sub:
Long unsettled issues of PSU Bank Retirees regarding Pension updation and increase in family pension on the lines of RBI scheme of pension and for extending health cover to bank retirees by banks from their welfare funds
Since IBA and UFBU in connivance have no intention to redress the problems being faced by bank retirees as observed over a long struggle from 2002 onwards, I hereby suggest your honour to appoint a Committee / Commission for redressing both the issues of retirees In banking sector as listed hereunder instead directing IBA / banks to redress these issues, which they have failed to do.:-
(1) Revision of Pension and family pension of bank retirees on the lines of recent revision in case of pension of RBI retirees, as existing Bank pension agreement dated 29.10.93 provides for pension revision in PSU banks as per RBI scheme.
(2) To direct banks to provide health cover to bank retirees also from banks welfare funds as directed by DFS , MOF , GOI letter dated 24.2.2012.
We believe that under the present scenario when IBA/ UFBU are playing antigame and retirees are suffering since 2002, Supreme Court Judges can look into facts and findings and solve the grievances of retirees in a most befitting manner giving justification to the retirees, who also happen to be Senior Citizens of the nation.
The Committee / Commission may please be also directed to redress these issues within a reasonable period of 3-6 months as bank retirees are being seriously affected adversely due to non- cooperative attitude of both IBA as well as UFBU.
With respectful regards,
Yours sincerely,
A Bank Retiree
----------------------------------------------------------------
Respected Shri Narendra Modiji,
Prime Minister of India,
Delhi, India
narendramodi1234@gmail.com
Sir,
Please look into burning issues of all PSU Banks Retirees listed as under :
1. Approval to Pension Updation Scheme for all retirees of PSU Banks (giving thereto retrospective effect from 2002 till 2017 for all retirees and to link the same wirh each wage revision in banking sector) in the current XI Bipartite Settlement in progress.
2. Increase in family pension from 10 '/, to 50 '/, for pensioners like Central Civil Pensioners.
3. Health cover for all retirees from welfare funds of respective banks.
Anticipating your early instructions.
With Respectful Regards,
A Bank Retiree
Cc:
nirmalasitharaman@gmail.com
Nirmala Sitharaman
Finance Minister
Madamji for your kind perusal and request to solve grievances of PSU bank retirees at the earliest.
With regards,
Yours sincerely,
A Bank Retiree
------------------------------------------------------------
To,
Shri Narendra Modi
PM of India
Delhi
narendramodi1234@gmail.com
Sir ,
Sub:
Shortage of funds for payment of pension to bank employees if pension updation is approved ---- Reason highlighted by IBA during negotiation with UFBU ---- A white lie
Respectfully I want to bring to your kind notice the following:
Eventhough there is no bearing on the profit of the bank for the payment of pension to retirees of the banks as it is paid from pension fund and not from P&L, IBA refuses to pay legitamate pension to the retirees . Why pension updation demand is being denied by IBA on these flimsy grounds, is beyond imagination of banks retirees. Sir, Chief Labour Commissioner has already been informed by our retirees member during last meeting with IBA on 30.1.20 that correct source of pension payment is pension fund and not profits and that remittance of employers contribution towads PF for all employees at monthly intervals in pension fund , is the statutory liability of the employer banks.
Sir, refusal by IBA for pension updation on this ground leads us to presume that either employer banks contribution for PF has not been deposited by banks in pension funds or withdrawals have been effected from pension funds, which is not permitted. In this context I suggest that CAG should verify the following before any banks mergers :
(a) Whether all banks have deposited Employers contribution towards PF in pension funds regularly? If not, whether penal action has been taken by Govt. against such bank managements? Also if any gap exists, the same should be got deposited in pension fund account.
(b) Whether any amount from Pension fund has ever been withdrawn by any bank to the credit of any of their other account including Profit and Loss account? If yes, whether any penal action has been taken by the Govt. against bank management? Also in such case whether action has been taken to reverse such entries to the credit of pension fund account so that the same does not gets adversely affected.
(c) If any of these irregularity persisted in banks balance sheets, how the same could not be pointed out by banks external auditors while auditing and finalising financial statements.
Sir, my humble submission to you is that bank retirees should not be penalised for such adjustments, if any? Banks retirees will remain highly oblidged to you if IBA and banks are directed to accord pension updation to bank retirees in the current XI BPS under negotiation with United Forum of Bamk Unions, which is their legitimate right. This prayer is being made as pension funds are adequately available to meet the obligations even after according Pension updation.
Sir, It is Govt duty to give justice to banks pensioners also, as is done with retirees of other departments. Your attention on these issues is a must. This is a dire need of banks retirees so that IBA does not reject pension updation demand of banks retirees on wrong arguements during ongoing talks under XI Bipartite Settlement.
Anticipating your prompt action,
With respectful regards,
Thanking you,
Your's sincerely
A PSU Bank retiree
nirmalasitharaman@gmail.com
Madam Nirmala Sitharamanji,
For your kind perusal and timely redressal of bank retirees grievances please.
A PSU Bank retiree
--------------------------------------------------------------
Some facts for "Media Investigation" regarding PSUBanks retirees
Sub:
Shortage of funds for payment of pension to bank employees if pension updation is approved ---- Reason highlighted by IBA during negotiation with UFBU ---- A white lie
Respected Sir,
Sadar Namaskar🙏🏻
I am a PSUBank Retiree, a Senior Citizen. I have served a PSU bank for about four decades till my retirement on superannuation. I am a pension optee. I request you to give few minutes to my submission on the above subject out of your extremely busy schedule.
In Nov' 1969, majority of Indian Banks operating in the country were nationalised to enable them to contribute in building up economy and for ensuring rural development in the country to progress. Since then banking sector is serving the nation in implementing Government Policies announced from time to time. As the nature of work performed by each bank was more or less of the same nature with uniform prime core objective, but pay scales were different in different banks, so to bring unanimity / uniformity amongst these banks, Pillai Committee Report was implemented in 1979. As banking employees were handling lending under government schemes, were dealing in financing for speedy development, were directly dealing with public for this purpose, so Public Sector Banks employees were given the pay scales at par with CPC and the starting pay scale of officers was kept matching at par with administrative service's Cadre, which was 700-1600. This was done to ensure enough remuneration for maintaining honesty and sincereity in the working while discharging duties. This accelerated the moral of banks employees and the result witnessed a vast rural network for banking and lending in bulk mass for meeting urgent needs of development.
Subsequently the wage revisions were thrown in the hands of PSU banks managements resulting in wage negotiations at every 5 years intervals between Indian Bank Association (IBA) and United Forum of Bank Unions (UFBU). With this system the wage revisions in banking sector witnessed gradual reduction in wages as compared to market and CPC Pay Scales. The result is banking employees are getting minimum wages as compared to market and corresponding CPC pay scales, which were offered to bank employees in 1979. You can compare the existing pay scales of Banks with that of CPC Pay scales to witness our statement.
Also in 1993 pension scheme was approved by Govt. for bank employees on the lines of Central Govt Civil Pension Scheme, which contained inbuilt clause of pension updation with subsequent wage revisions. This system continued for some time and thereafter pension updation clause was suddenly and silently withdrawn. As in those days the superannuation retirements used to be very few, the impact was neither visible nor it could come to surface for mass protest.
However, in the past 10-15 years, banking sector witnessed mass retirements due to superannuation. So the affected retirees grivances regarding the pension updation and family pension increase (10'/, to 30'/,) issues have surfaced on mass scale. The retirees have no recognised unions as working employees have. So the matter of pension updation is being handled by UFBU duly recognised by IBA.
Unfortunately in 9th bipartite settlement (for wage revision due since 1.11.2007), IBA and UFBU, to favour working employees, surrendered the negotiating powers for discussing pensioners issues and signed the bipartite agreement. This fact was not brought to the notice of either retirees or working employees. The retirees were crying for pension updation since then (2007). In 10 th bipartite settlement (for wage revision due from 1.11.2012) again this issue was not touched by UFBU / IBA on the grounds of non availability of funds and retirees were helpless because of cunning attitude of IBA and UFBU. When this cheating attitude was noticed by bank retirees, a strong voice from bank retirees from all corners of the country has stepped up during current 11th bipartite settlement in progress (due effective from 1.11.2017). Several PILs pending in Supreme Court on date are witness to these facts.
Now IBA is replying to Chief Labour Commissioner that pension is paid to retirees by banks from profits and profit funds are not adequate to meet updation liability. Whereas the fact remains that pension is payable by banks not from profits , but from pension fund, in which respective banks are supposed to credit every year employers contribution towards PF prior to arriving their profits. This is a must requirement as it is a statutory liability of the banks as employers. So this is a clear indication of misleading to CLC and GOI by IBA.
We seek immediate intervention of MOF, GOI in the matter to direct IBA to approve Pension updating demand of retirees , which was present in the pension scheme adopted by banks in 1993 with due approval of GOI.
We also request to improve our family pension from existing meagre level of 10 '/, to 50 '/, at par with Central Govt employees. This is a must as in case of many deceased pensioners, existing 10 '/, family pension is not enough to even feed them and they are not able to afford proper medical treatment due to inadequate financial resources.
I would further like to highlight the irresponsible behaviour of IBA in directly dealing with the retirees issues as under :-
(A) On 25.5.2015, IBA signed a Joint Note with Banks Unions, terming 'pensioners have no contractual relationships with their respective Banks.' Was it a 'responsible' behavior on IBA part? Really, no. Such relation do exists & pensions are paid without any contractual obligations?
(B) In the above Joint Notes IBA agreed to examine cost implications of Pension Revision, which they haven't done till this date. Is it a 'responsible' behavior on IBA part?
(C) Further to this I would like to inform that DFS, MOF, Govt of India advised IBA vide their letter dated 24.2.2012 to spend Welfare Funds to provide health cover to working & retired employees both. IBA has preferred to sit over it for over 3 and a half year and in last it covered working staff only, but not retirees, with a result that 75% retirees are left in death trail. Was it a 'responsible' behavior on IBA part?
Sir,
I request you to get fresh instructions issued to IBA by MOF in this regard to provide health cover to bank retirees also, who all are Senior Citizens of the nation too.
I would also like to place here some suggestions for future improvement in the banking industry:
(a) Wage Revision System :-
Instead of existing 5 yearly bipartite settlement system of wage revision, CPC pay scales should be made applicable to banking sector employees as was done earlier in 1979 thereby re-adopting earlier Pillai Committee Recommendations. This is essential to achieve following objectives:
(i) This will eliminate the monopoly of bank managements in reduction of pay scales in connivance with IBA as has been done gradually from 1979 till date.
(ii) This will eliminate the interference of Unions in fixation and revisions of pay scales at 5 yearly intervals.
(iii) This will help in timely revision of pay scales at 5 yearly intervals.
(iv) This will maintain the confidence of bank employees as they will be assured that their interest will be taken care of by the Government through an impartial body and that they will not be at the mercy of Unions in the matter of wage revisions during negotiations.
(v) This is essential as the objective of banking sector has not changed from 1969 onwards after nationalisation and banking sector continues to be contributing in the development of the nation as per Government directives from time to time. In future also banking sector's contribution will continue to be of same nature.
(b) If deemed fit, matter of meeting statutory liability by each bank by way of providing employers contribution towards PF each year in past following existing laid down norms may be got investigated by CAG through special audit and appropiate directives may be issued in this regard (if warranted) to concerneds.
🙏🏻 🙏🏻 Prayer :
I am confident that my this prayer will certainly attract kind attention and help in redressal of banks employees grievances in general and banks retirees grievances in particular. The major demands of banks retirees are summarised hereunder for ready reference :
1. Approval to Pension Updation Scheme for all retirees of PSU Banks (giving thereto retrospective effect from 2002 till 2017 for all retirees and to link the same wirh each wage revision in banking sector) in the current XI Bipartite Settlement in progress.
2. Increase in family pension from 10 '/, to 50 '/, for pensioners like Central Civil Pensioners.
3. Health cover for all retirees from welfare funds of respective banks.
Anticipating your prompt action to solve the problems being faced by bank retirees in particular and bank employees in general.
Your's Sincerely,
A PSU Bank Retiree
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