Fwd: Old pension scheme bad for India: PFRDA ex-boss Supratim Bandhyopadhyay

[Anantharaman Tg]

---------- Forwarded message ---------

Date: Mon, 6 Mar 2023 at 21:25
Subject: Old pension scheme bad for India: PFRDA ex-boss Supratim Bandhyopadhyay

https://www.business-standard.com/article/economy-policy/old-pension-scheme-bad-for-india-pfrda-ex-boss-supratim-bandhyopadhyay-123030500893_1.html#.ZAYNhSXeCR0.gmail

[kds nair]

There will be option for continuing nps.In any case,retirees need not look into that.

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[JSOMA SHEKARA]

Bank employees coming under NPS should not fall into the trap of UFBU and opt for old pension scheme.

Bank employees pension scheme is entirely different from Govt employees pension scheme.

1. There is no pension revision for past 25 years.

2. There is no periodical pension revision along with wage revision.

3. No additional pension after 85 years.

4. No full pension after 20 years.

5. UFBU silent when  IBA snatched 5 years benefit, 50% Basic pension from DOR, and denied second option to CRS retirees.

6, UFBU agreed for denying 100% DA to pre 2002 retirees.

So NPS optees should think and analyze  why UFBU, which since 2001 worked against retirees, is suddenly interested in the old pension scheme.

1. Demand mainly from AIBEA and it is a 100% Political decision as CPI and other opposition parties are demanding the same.

2. UFBU has no control over NPS and cannot cut legs and hands of NPS and exchange it with IBA for some benefits to employees as they did with EPR 1995 by converting Basic into a special allowance and denying pension on the same.

3. UFBU did not come to the help of retirees for past 25 years when they were struggling in various courts, so how they will help NPS retirees?

4. when they have no funds for updation how they will provide pension to thousands of NPS retirees?

5. For the past 25 years IBA/UFBU refused to amend pension regulations to provide for Updation. Now IBA says the pension scheme will be amended to make way for including NPS retirees into OPS.

NPS funds are safe with PFDRA. NPS optees should take wise decision.

Now  UFBU demanding amendment of Pension schme to include NPS

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[Anantharaman Tg]

To say simply, and based on the existing records,

there  seems to be no genuine intention on the part UFBU

to demand the old scheme for the present employees.

And, all those who have joined the Banks during the NPS

regime are not aware of the predicaments of the old

pensioners. 

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