Modified excel sheet for arrears calculation - supreme court verdict 1616-1684 DA

[LNG Syn]

Dear all, Thanks for everyone who have offered inputs and suggestions. I
have received lot of feedback and suggestions and accordingly modified
the arrears sheet. This sheet is mainly for use by VRS 2001 when banks
saw mass retirement. Any suggestion is welcome. All necessary input and
basis of calculations are given in the sheet itself. So, even pensioners
who retired earlier can manually calculate.

Please open the attachment in laptop if possible. In mobile, viewing
will be difficult. Regards. Govindarajan Pensioner Syndicate bank

[Ashok Shrikhande]

Dear Sir

Can you give DA details prior to 2001  since the benefits are available with respect to the employees who retired or died while in service on or after 1.4.1998 and before 31.10.2002.

Regards

Ashok Shrikhande

On Sun, Mar 11, 2018 at 4:28 PM, LNG Syn <lng...@gmail.com> wrote:

Dear all, Thanks for everyone who have offered inputs and suggestions. I have received lot of feedback and suggestions and accordingly modified the arrears sheet. This sheet is mainly for use by VRS 2001 when banks saw mass retirement. Any suggestion is welcome. All necessary input and basis of calculations are given in the sheet itself. So, even pensioners who retired earlier can manually calculate.

Please open the attachment in laptop if possible. In mobile, viewing will be difficult. Regards. Govindarajan Pensioner Syndicate bank

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[sekhar G.]

Sir, so many expectations on arrears are on round. Can any body confirm there is no chance for  appeal/review petition or any stay by IBA in Supreme court.

G. Sekhar

[Satyanarayana Rao]

June13 th is dead line fixed by SC to paywith9% interest .Till such time the beneficiaries have to wait.No guess work can be done on the steps the banks or IBA can take.How ever there are bleak chances of further delay or mis adventure by banks and IBA.Let us hope for the best.

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[JSOMA SHEKARA]

IBA has right to file review petition and then curative petition. But they may not resort to that unless they do not care wasting public money as the delay cost banks several lakhs each day by way of Interest.

[sekhar G.]

It seems that there is a view, that IBA  cannot go for revision since all the petitions were dismissed. Legal experts can throw light on this.
G. Sekhar

[shashipal vaid]

please let me know weather supreme court judgement regarding 1610- 1684 point & 5 years notional benefit for State Bank of Mysore .is also applicable to State Bank Of India pensioners or only for State Bank Of Mysore pensioners.

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[Varkey v.v.]

sir,

can you help me to ascertain the amount I may get as arrears(approximate) with a basic pension of Rs.9089.i took voluntary retirement on 20.10 .1999.

regards

v.v.varkey.

On Thu, Mar 15, 2018 at 10:11 AM, 'Satyanarayana Rao' via bankpensioner <bankpe...@googlegroups.com> wrote:

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[Prasad C N]

Dear Sir,

This is not applicable to SBI Pensioners, as there is no provisions in Pension Regulations for notional addition of five years of service.  Law also not in favour of SBI Pensioners in 1616 - 1684 points issue also.

Thanks, a Million. 

With regards, 

Prasad C N

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[Chandrasekaran V]

SBI Pensioners are altogether in a different pedestal, as pension is an additional benefit, meaning thereby they were not required to forgo PF (BANK) Contribution.

On Sun, Mar 18, 2018 at 10:08 PM, 'Prasad C N' via bankpensioner <bankpe...@googlegroups.com> wrote:

Dear Sir,

This is not applicable to SBI Pensioners, as there is no provisions in Pension Regulations for notional addition of five years of service.  Law also not in favour of SBI Pensioners in 1616 - 1684 points issue also.

Thanks, a Million. 

With regards, 

Prasad C N

On Friday, 16 March, 2018, 4:23:00 PM IST, shashipal vaid <shashipa...@gmail.com> wrote:

please let me know weather supreme court judgement regarding 1610- 1684 point & 5 years notional benefit for State Bank of Mysore .is also applicable to State Bank Of India pensioners or only for State Bank Of Mysore pensioners.

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[ganpat dhond]

Dear Sir,

Excel Sheet prepared by you is very useful.

It gives pension arrears up to 30/04/2005, Interest progressively  worked out for 51 months up to 30/04/2005 and interest on pension arrears for 13 years from 01/05/2005 to30/04/2018(payable  on 01/05/2018)

if one were to get this Pension arrears on  01/05/2005 he/she would  have got progressive interest arrears  of 51  months up to 3o/04/2005 on the same date  But this interest up to 30/04/2005 is paid now.So it becomes logical  that one is entitled  to further  interet@9% from 01/05/2005 on this  51 moths progressive interest   till date of payment(credit to account) Therefore this part of accounting seems necessary in Excel Sheet.

Consequently there will be increase in interest payable by Bank  (ie additional interest from 01/05/2005 on interest due for 51 months  till 30/04/2005)

For example Pension arrears up to 30/04/2005  say A amount

                    Progressive interest there on  up to 30/04/2005 say B amount ( This portion is calculated ( included in working))

                  Interest  on A amount  from 01/05/2005 till credit (payment by Bank) say D  Amount (This  amount  is calculated and included in working)

                  Interest  on B amount  from -1/05/2005 till credit( This portion is  not calculated   ( not included in working)

You have done  great assistance by  bringing out  Excel sheet. I  earnestly request you to give thought to my  interpretation (it may be correct or otherwise) so that retirees are not deprived of their just dues.

Your response at your early convenience  will be highly appreciated.

THANKS & REGARDS

G J Dhond

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[Govindarajan L.N.]

Yes. You are right. Further interest has to be added until payment. 

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[Mohan Revathi]

friends,

It is written that excess sheet prepared by one of our retirees is very useful.  But I have not seen any such  working sheet.  Will u mind uploading it again?

Thanks & Regards,

R. Mohan

Canara Bank Retiree

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[ganpat dhond]

Thanks a lot. You have  supported my interpretation and it is clear we are entitled to this difference. I  am not  familiar  to work out Excel sheet . So may  I request  you to work out  another fresh excel sheet  including this difference , Your working will go long way to enlightene eligible employees. If our view  is correct  our   retirees organizations should  takeup this matter to Authorities  for payment.

Thanks

G J Dhond

[rravindra vijaya bank]

Some one send Excel sheet through this mail, to help others.

Ravindra

[kanneg...@gmail.com]

[Parvatam Veera Bhadra Swamy]

Hi

You are doing great job. Every member is thinking that what bank has paid is correct and really it appears that bank hasn't taken care of this aspect.

If found th calculations proved to be wrong then the matter is to be taken up by retirees associations immediately to rectify the anomaly in this financial year itself.

Thanks

PVB Swamy

[Kishalaya Mukherjee]

Banks have paid the arrear along with 9% simple interest (not compound interest) on the arrear. The interest has been calculated from the date as and when it was due till the date of credit. I have personally calculated the interest and it talied with my calculation. The only thing is that a simple interest has been calculated in this case whereas we are getting even savings bank interest on a quarterly compounding basis now a days, let alone interest on fixed deposits. Our unions should have taken this matter with the IBA. But they preferred to keep silent as usual. 

On Thu 29 Nov, 2018, 9:49 AM <kanneg...@gmail.com wrote:

[gitanjali akkineni]

Anybody from Andhra Bank who have received the arrears calculation sheets. This is Krishna Kumar from Andhra bank.

[JSOMA SHEKARA]

Sri.S.V.Srinivasan Gen Secy of AICBRF has been continuously pursuing with Canara bank for speedy disposal of arrears.Due to his effective effective presentation of case the Bank had agreed and disbursed Commutation arrears with Interest. we had also appreciated the Bank for implementing in right spirit. However there were strong doubts that total arrears disbursed is less than expectations. Now it is confirmed that Canara Bank has not paid DA arrears at all to SVRS retirees. We are glad to note that Mr. Srinivasan has once again taken up the issue with Pension Cell and Bank has agreed to pay arrears soon. Like AICBRF retiree units of other banks also must take up the issue with managements for rectifying anomaly if any in arrears disbursements.

 

[bhaskara sarma]

[Venkatesh Rao]

That's a great job by Mr. S. Srinivasan and AICBRF.

 

A Royal salute.

Karaya Venkatesh Rao

CB SVRS 2000

[Asok Bhaumik]

How Canara Bank can be the exception one in disbursing commutation arrears with interest? What is the role of AIBRF in this regard as to other banks action?

[Anantharaman Tg]

Everyone of the retirees reading the mail about the AICBRF's

role in getting the Bank agree to pay the arrears of commutation

is sure to raise the question of Shri Asok Bhaumik.

May be the associations of other Banks have to emulate the

act of AICBRF and persuade the respective management to

give full justice to the retirees as per Court verdict. 

Some times such efforts may yield result! Let all the

individual bank retirees' forum act now.

Anantharaman

[MADHU NEGLUR]

is arrears payable to SVRS retirees who opted for pension in 2009, second option?

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From: bankpe...@googlegroups.com <bankpe...@googlegroups.com> on behalf of Asok Bhaumik <arpanent...@gmail.com>
Sent: Friday, November 30, 2018 10:30:00 PM
To: bankpe...@googlegroups.com
Subject: Re: bankpensioner Modified excel sheet for arrears calculation - supreme court verdict 1616-1684 DA

 

[YVS Rao]

No. The arrears pertain to those retires who opted for pension before retirement during the period 1-4-98 to 30-4-2005. This is on account of the supreme court judgement delivered on 13-2-2018 in the matter of 1616-1684 (related to 7t Bipartite Settlement Period). Not applicable to retirees who opted for pension w.e.f.27-11-2009.

yvs

9849 620 781

[MADHU NEGLUR]

Thanks for the clarification.

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