Details of actuarial report

[Kalyanasundaram Subramaniam]

I have submitted an application under RTI to Indian Bank seeking the following: 

Please refer to Chapter three of Indian Bank Employees Pension Regulation 1995 Para Ten of three and Para 11

1.       Please provide me the audited statement of the pension fund for the latest three years

2.       Please provide me the report of actuarial investigation of the latest three years

3.       Please let me know whether the Indian Bank has authorized Indian Banks Association or any other body to discuss Pension Updation/Revision of retired pensioners of the bank during the recently concluded bipartite settlement with the Unions.

4.       Please provide the latest copy of authorization letter provided to Indian Banks Association to discuss/negotiate/agree wage settlement with the Unions.

5.        Please let me know whether any direction has been received from the Government of India on Pension updation/revision of retired employees, if so, please provide copy of such communication. 

S Kalyanasundaram 

 

[Kalyanasundaram Subramaniam]

I am attaching the reply I have got. (Account details I have not attached)

So the bank is not giving actuary report and hence we cannot make out anything. 

The bank has not authorized IBA to discuss pension updation/revision. 

Authorisation letter does not specify anything about retirees issues. 

S Kalyanasundaram

[JSOMA SHEKARA]

IBA is  a mysterious organization and all pensioners are victims of this IBA.

If Banks have not given authorization to discuss retirees issues how IBA discussed the updation issue on 10th Dec 2020 and 0n 04.01.2021 with workmen and Officers associations.

Four officers associations requested IBA to appoint two actuaries.Whether an advisory body has power to appoint

actuary on behalf of PSU bank when it has no authorization to negotiate retirees issues.

As Indian Bank has not given any authority to IBA to negotiate retirees issues  Indian Bank can take its own decision to implement updation.

If banks have not given authority to IBA to negotiate retirees issues, why this drama of Unions including big chapter on retirees demands in COD and discuss nothing.

--
Visit our blog site http:://bankpensioner.blogspot.com
---
You received this message because you are subscribed to the Google Groups "bankpensioner" group.
To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/137dca37-0cdc-40f7-a172-f2459e9dced4n%40googlegroups.com.

[Kalyanasundaram Subramaniam]

 I have filed the following appeal : 

As per Section 8(1)(j) in The Right To Information Act, 2005 only information that relates to personal information the disclosure of which has no relationship to any public activity or interest, or which would cause unwarranted invasion of the privacy of the individual can be denied.

As decided in UPSC vs R K Jain, the information sought by me cannot come under Personal Information.

There are thousands of pensioners who are interested in the proper conduct of the Pension fund. There are also various stake holders of the Bank like Depositors, Shareholders, Employees etc., who are interested in the proper conduct of the pension fund and to understand that the pension fund is maintained properly, we need to get the actuary report. Without actuary report, one cannot make out whether the balance maintained in the Pension fund meets the objective of pension fund.

Hence in public interest this information should be made available under RTI Act.

I request you to arrange to provide the information at the earliest. 

S Kalyanasundaram 

[Shrinivas Parkar]

Discussion with UFBU at regular interval, is purely drama and we cannot expect any result. From the reply of Indian Bank it is clear that Bank has not given Authority to IBA to discuss the issues of Retirees. Then on what basis IBA is going to arrive at Settlement of Pension Updation by discussing with UFBU on behalf of all Banks?

If IBA Chairman has taken the talk regarding Pension Updation of Hon'ble Finance Minister Respected Nirmalaji Madam to him seriously, he has to write a letter to all PSU Banks as follows:-

"Respected Finance Minister has instructed IBA to formulate a Pension Updation Scheme. You are requested to forward, within 15 days, your Authority Letter to IBA for formulating a suitable Pension  Updation Scheme, which will be binding on you."

immediately after receipt of such Authority Letter, IBA has to forward a Pension Updation Scheme based on RBI Formula, to the Government for approval.

If GOD desires, then only above may be possible, which is the only way to get Pension Updation for us.

--

[mamillapalli venkateswarlu]

The above points are only secondary and not main point about IBA is in noway connected to retirees issues.

And if that was so, how IBA can file implead petition in Supreme Court in 100% DA case in 2018 and put forth arguments against payment of 100%DA to pre 2002 retitees, While it is not its concern about retirees issues? IBA is a third party to the petition; The issue is connected to Banks and retirees only and not involving IBA. In legal terminology, IBA is locus standi to the issue.

Our lawyer should object for joining IBA in the case quoting IBA 's previous Stand.

--

Visit our blog site http:://bankpensioner.blogspot.com
---
You received this message because you are subscribed to the Google Groups "bankpensioner" group.
To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.

To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/73ea5b73-a935-4290-b547-9f6ab00018fdn%40googlegroups.com.

[Kalyanasundaram Subramaniam]

Now I have got the reply for my appeal. I attach it. 

It is a big surprise to me that the bank is maintaining some funds in Pension corpus without any actuary report for the past (at least) three years. 

We must find out how all other banks are doing. 

S Kalyanasundaram 

[KUNAL SINGH KHARAYAT]

Bad luck.

 

Sent from Mail for Windows 10

--

Visit our blog site http:://bankpensioner.blogspot.com
---
You received this message because you are subscribed to the Google Groups "bankpensioner" group.
To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.

To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/365da991-301c-4576-a943-fda4a4b50d6bn%40googlegroups.com.

 

[Shrinivas Parkar]

Shri Kalyansunderam Sir, you are doing excellent job in the interest of entire Bank Retirees Community, by making good use of RTI Act. I pray to God to shower his best Blessings on you and your Family Members. 

You appear to be Master of RTI Act. I request you to help any other Member who does not know much about RTI Mechanism but wants some information under RTI Act for the benefit of Bank Retirees as a whole. 

--

[Kalyanasundaram Subramaniam]

Thank you for your lavish appreciation. 

I am in the process of learning and my attempt to get details under RTI is not  at all successful as many applications are declined even after first appeal. 

Regards.

S Kalyanasundaram 

[Kalyanasundaram Subramaniam]

I am attaching the reply received. Another 4 weeks I may have to wait. 

If friends move other banks also with similar application, we may know the reality in due course. 

S Kalyanasundaram 

[Kalyanasundaram Subramaniam]

I am attaching the reply from the bank for the RTI application. 

From the reply, we can understand how the bank is evasive. I doubt very much whether the bank  has done any actuarial valuation at all. 

I have filed appeal as follows: 

IBANK/R/E/21/00316 – Appeal submitted on 21 05 2021

 

Though the RTI Application has been disposed off on 15 04 2021, no communication has been sent to me either through email or hard copy. I happened to see this disposal when I logged to RTI portal today. Hence please treat this appeal as an appeal filed within the time limit prescribed.

Regarding Para 1 of reply:

The statement that the ‘Actuarial investigation of the fund after the constitution of Pension regulation is not available’ is not acceptable. If the bank has not done the actuarial investigation as per Pension regulation, then it will be a serious matter. If no actuarial investigation has been done, please let me know. If it has been done, please provide copy.

Regarding Para 2 of reply:

As per Section 8(1)(j) in The Right To Information Act, 2005 only information that relates to personal information the disclosure of which has no relationship to any public activity or interest, or which would cause unwarranted invasion of the privacy of the individual can be denied.

As decided in UPSC vs R K Jain, the information sought by me cannot come under Personal Information.

There are thousands of pensioners who are interested in the proper conduct of the Pension fund. There are also various stake holders of the Bank like Depositors, Shareholders, Employees etc., who are interested in the proper conduct of the pension fund and to understand that the pension fund is maintained properly, we need to get the actuary report. Without actuary report, one cannot make out whether the balance maintained in the Pension fund meets the objective of pension fund.

Hence in public interest this information should be made available under RTI Act.

I request you to arrange to provide the information at the earliest. 

I request that similar application can be filed with other banks also, so that we will know the exact position. 

Regards.

S Kalyanasundaram 

[Prabhakar Sadre]

  What foolish people are playing dirty game should be punished in public. How long pensioners has to suffer from these useless communist leaders are inhuman should be thrown out of country this communist are corrupt and should be hanged. These barsted enjoyed poor bank employees blood 

--

Visit our blog site http:://bankpensioner.blogspot.com
---
You received this message because you are subscribed to the Google Groups "bankpensioner" group.
To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.

To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/57d9a504-fd6c-45dd-8e0c-72e7c7982878n%40googlegroups.com.