Re: Do you still beleive updation will happen

[Manickam Ravindran]

The meeting between IBA and UFBE clearly shows that there is no forward movement. IBA reiterates cost implications and the union ask for settlement- wise cost data on account of updation.As far as my memory goes, every meeting in the past also harped on actuarial report/ additional cost .The joke is that  IBA never said ' no updation' and in every meeting every year they discuss only on cost and actuarial report and UFBU requesting them to work out the cost. Every body conveniently forgot that cost factor was never studied for family pension and IBA chairman barged into the negotiating riom on the last day  to declare that govt has agreed to hike family pension. The drama that is going on will come to 

an end only if  I repeat.only if the highest authority ( read PM) give green signal.  Or a miracle happens thru the supreme

court. If you still beleive in IBA - UFBE  negotiation for a positive outcome,  you are living in utopia. The helplessness and frustration is mounting day by day. Will updation happen ? No body can be a prophet to foresee future  accurately.Till such time you can choose to be an optimist or realist or pessimist. 

Ravindran

[JSOMA SHEKARA]

In BPS starting 2032 also IBA says cost is to be studied and UFBU suggests appointing an actuary.

The only difference  between RBI Unions and UFBU is, RBI unions want updation at  any cost and UFBU does not want updation and find reasons for the same.

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[Ishan Garg]

 Nothing can be more true then this.

Vinod Kumar Garg

Ex Indian Bank

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[Rajender Sharma]

Sir,

You are very much right . The United Forum and IBA are playing a friendly match . One makes 

lame excuses in the meetings citing cost implications in updating pension and the other agrees to it.

It is pretty ridiculous that IBA could not assess the financial load factor during the last twenty-five

years and the exercise go on without any end. Both are pretending to do something but with no 

tangible outcomes. Retirees should reject these overtures and think of legal recourse. They will have to 

unite to fight their battle on their own shoulders.

R.K.Sharma