United Forum of We Bankers Say

Advantages of CPC over BPS

1.The most significant will be historic deneutralisation of DA this singlerecommendation will more than double the basic pay of almost 95% officers while 1.5 times of basic rise for 5% officers and around 60% Clerks and 1.3 to 1.2 times rise for Junior Clerks and Sub-Staff cadre.

2.Assured Career Progression will ensure automatic promotion to all Officers (4 years), Clerk (10 years) and Sub-staff (12 years).

3.PLI or "Productivity Linked Incentive" which is similar to the "bonus" concept forgotten by bankers since introduction of ceilings during 1978 in Bonus Act, 1965. Later Vth CPC started PLI for Government organisations but for bankers there was no mechanism to take care.

4.No stagnation in scale 3% increment on reaching last stage.

5.Five days' week. Privilege leaveaccumulation to 300 days.

6.DA linked Transport Allowance, Education Allowance,

7.Substantial rise in HRA with 30%, 20% and 10% formulae.

8.Paternity leave.

9.Dearness Pay : When DA rate goes beyond 50% it is converted into Dearness Pay eligible for all the allowances as Basic Pay. (Presently withheld for recommendations of VIIth CPC).

10.Grade Pay : The scale is increased by 100% merger of DA and then Grade Pay is added which is as 20% of start of the old scale basic plus DA thereon.

11.All fixed allowances (like Halting Allowance, Transfer Allowance, Closing Allowance which are spelt in Rupee term and not in % term) will go up when DA crosses 50% mark.

Bank Pensioner Advantages of CPC over BPS

.DA will be at 100% neutralisation for all Pensioners (will benefit Pre Nov 2002 pensioners)

The commutation will be 40% of pension (instead of present 33.33%).

.Commutation will be restored after 12 years instead of present 15 years.

.DA rise will be Half yearly for both serving and pensioners.

.Family Pension will be 30% of instead of present formulae of 30% 20% and 15%
.Enhanced Family Pension will be payable upto the employee would have been 67 years (presently 65 years).

.Dependent parents and widowed/ divorced daughter included in dependents.

.Automatic updation of Pension it will be at least equivalent to an employee at the start of pay scale of the grade of retirement with revision. VIIth CPC is likely to accept "one rank one pay formulae thereby giving full advantage instead of start of scale.

.Long life incentive after attaining age of 80, 85, 90, 95 and 100 the pension will be increased to 120%, 130%, 140%, 150%, and 200% respectively so be old be happy. Increased hospitalisation and medical expenses will be taken care of.