FOSBIPA TO ALL CONSTITUENTS OF UFBU
MOHAN P
FEDERATION OF SBI PENSIONERS' ASSOCIATIONS
Regn. No. S/17025 of 1986 Under Societies Registration Act 1866 Melhi)
ADMINISTRATIVE OFFICE, BENGALURU
65, SBI LHO Buildings, St. Mark's Road, Bangalore - 560001
Email: fsb...@gmail.com
RADHAKRISHNAN President
(All letters to be addressed to the General Secretary)
G.D.Nadaf.General Secretary
(M) 9848525214/(M) 9448124777
_________________________________________
Circular 6/2026
Date:29-01-2026
PENSION UPDATION / UPGRADATION FOR BANK PENSIONERS & FAMILY PENSIONERS UNIFORM DEARNESS RELIEF FORMULA FOR PENSIONERS AND CHANGE OF BASE YEAR FROM CPI (1960-100) SERIES
We invite your kind attention to our letter Ref No. FSBIPA/14/2025 dated 3rd October 2025, wherein we have requested all the constituent units of United Forum of Bank Unions (UFBU) to not only reject the irrational and illogical cost neutral proposal Indian Banks' Association (IBA) for change of base year for DA, but also to fight unitedly for updation/upgradation of pension of Bank employees. A copy of the above-referred letter is enclosed for your instant reference and perusal.
2. You are aware that the undernoted just demands of bank pensioners/retirees, and family pensioners are still at the level of discussions between UFBU and IBA for the last more than 15 years without any concrete results. Resultantly, Bank Pensioners/Retirees and Family Pensioners are not only aggrieved/frustrated but also are unable to meet their needy expenses with the meagre pension/family pension received by them:
a) Updation/Upgradation of Pension;
b) Uniform dearness relief for pensioners and family pensioners.
c) Change of base year from CPI (1960)=100) series to CPI (2016=100) series for payment of Dearness Relief to Pensioners consequent upon the change of base year to (2016-100) series for payment of Dearness Allowance to employees, with effect from the 1st November 2022, in terms of the 12th Bipartite Settlement /9th Joint Note dated 08.03.2024 agreed between the Indian Banks' Association.
3 You are also aware that the Central Government has recently approved pension revision for retirees of the Reserve Bank of India (RBI) and National Bank for Agriculture and Rural Development (NABARD) with revision of pension by a factor 1.43 with effect from 01.11.2022 onwards and also revision of dearness relief at the rate applicable on revised pay scales based on CPI(IW)-123.03 CPI(2016-100) series, as agreed for payment of DA to bank employees in terms of the 12th Bipartite Settlement/9 Joint Note dated 08.03.2024 agreed between the Indian Banks Association and Workmen Unions/Officers Associations.
In this connection, our view points are as under:
a. We are glad that, the hurdle of cost neutral proposal was not made applicable in the above revision of pension and application of uniform DR formula for RBI/NABARD Retirees;
b. The pension updation for RBI & NABARD is with a formula that revises the basic pension by merging Dearness Relief and applying specific multiplication factors based on the retirement date, often including a notional 10% increase. The formula was designed to align pension payouts with the latest wage settlements, ensuring that the updated pension reflects current economic conditions;
c. The merger of Dearness Allowance for revision of wages is same for Bank employees as well as RBI employees in all the wage revision agreements signed so far i.e., 1148, 1684, 2288, 2836, 4440, 6352 and 8088 points under revised pay scales effective from Nov 1992, Nov 1997/April 1998, Nov 2002, Nov 2007, Nov 2012, Nov 2017 and Nov 2022 respectively.
5. We are happy to note that one set of bank pensioners/Retirees i.e., RBI & NABARD are continually compensated with updated pension reflecting the economic conditions prevalent at the material time, but at the same time, we are aggrieved to note that pensioners/retirees and family pensioners of the entire banking industry including State Bank of India are neglected in toto.
6. We are confident that constituent units of UFBU would speed up their serious negotiations with IBA towards finalizing an agreement at the earliest covering (i) updation of pension, (ii) upgradation of basic pension by merger upto 8088 points and (iii) change in base year for DR from CPI (1960=100) series to CPI(2016=100), on the same lines, as approved by Government of India for pensioners & family pensioners of RBI/NABARD retirees.
7 The revision in pension/family pension is essential as there is an imperative need to align compensation for senior and super senior pensioners with rising cost of living and, hence, we request you once again to take up the above issues immediately without any further delay and ensure equal treatment for all pensioners/retirees of banking industry including State Bank of India, who have contributed their blood and sweat, towards the economic growth of the Country by being catalysts of the Government of India in all its social objectives.
With Greetings.
Yours faithfully,
(G.D. NADAF) GENERAL SECRETARY
Ramani Konnayar
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