UPDATION OF PENSION

[MOHAN P]

Dear Friends,

UPDATION OF PENSION still remain as a cherished dream of bank pensioners!  Same has  not been  sorted out under 12^th BPS/9^th Joint Note signed on 8^th March'24,too,  though it was an item highlighted in Charter of Demands submitted for above BPS,as well as an item pending under  Residual Issue of 11^th BPS since 2017.

Once again a Minutes was signed on above date, between UFBU-IBA showing the following items pertaining exclusively  to retirees along with several other items.,with an understanding on frequent meetings to discuss the issues.As per UFBU,  IBA agreed to fix up the meeting at the earliest!

“01.Updation of Pension for past retirees

‘Provision to be made in the Pension Regulations to provide for periodical updation of pension along with wage revision settlement/s.’

02.Improvements in Pension Scheme

03. ‘DA scheme for all pensioners to be at the uniform Index of 8088 points.”

Now, we note that, there were four rounds of discussions with IBA by UFBU on 18^th April'24, 13^th May’24, 15^th June’24 and 2^nd July’24 on  various other pending issues.Especially  relating to renewal of group medical insurance policy and modifications in the PLI formula etc.We also observe that major issue of pensioners have not been found discussed.

Even if  the above  major issue is not sorted out so far , retirees would have been happier at least any initiative / consensus would have been arrived between UFBU-IBA on any suitable formula or on modality and thereby  any discussion at any point of time in the past towards this direction!

More than adding above items regularly for future discussions nothing have been materialised till date.Even the merger of CPI 8088 points and change of CPI 2016 index numbers implemented under 12^th BPS could not be extended to pensioners prior to 1.11.22.

Court case before Apex Court filed by late M.C.Singla & Ors on this issue  is yet to come up in August'24 or later, where there is no date is so far posted by court.

Here also lot of misinformation is found appeared under social media as if the issue is already  sorted out/finalised just to befool the pensioners.

Retirees Apex Organisations are found trying to join together to follow up on these matters where also we find that  two major organisations are keeping aloof !

Most of the pensioners are already in their 80’s and 90’s right now.Is there is any point in asking them to wait further!

Only way out before us is, UFBU-IBA has to take early  steps  to resolve the  major issue of   Updation of Pension,instead of carrying over the item under ‘Residual Issues' every time as a ritual!

 

 

 

 

 

 

[Dorai Krishnamurthy]

So long as CHV continues in AIBEA nothing will happen in retirees issues.  No discussion took place so far.

Dorai Krishnamurthy

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[S.T.CHANDRASEKHAR Babu]

As MC Singla case is not yet posted how can you say that may come up in August. 

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[Visvam Ambattur]

Thank you very much for another informative email.

Hopefully, UFBU is working behind the scene to give us a pleasant surprise on pension updation soon.

Regards,

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[Ramani Konnayar]

Dear Shri. Mohan ji, 

At the outset, please let me convey my appreciations for highlighting the present plight/predicament of bank pensioners, particularly those in their 80's and 90's who belong to the pre2002 group. Needless to say that this group is the worst sufferer as they lost heavily due to not only low pensions but tapered DA as well for 18+ years.  

 

I hope you will not mind if I point out that there is a conspicuous omission in your letter viz., non-rectification of the anomaly of calculation of ex-gratia based on tapered DA to this group. Although, this matter was discussed in the joint meeting held between IBA and UFBU on 18/4/24 and a few days later it was informed by Com. CHV that IBA would soon be issuing necessary advice to banks to recalculate the ex-gratia taking DA for October 22 NOTIONALLY @ 100%.

However, this group of pensioners continue to get only reduced ex-gratia and it is not known why there is so much delay in the matter. 

K N Ramani

On Sat, 6 Jul, 2024, 12:50 am MOHAN P, <moha...@gmail.com> wrote:

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[Satyanarayana Rao]

The concept Exgracia is a step forward to achieve pension updation. 

There is no point in expecting an early updation of pension to retirees in near future. Just be happy with what we are getting every month and be peaceful. 

Yahoo Mail: Search, organise, conquer

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[MOHAN P]

Dear Friends,

It is true that,retirees have different pending issues.Once Updation of Pension is resolved most of the issues such as uniform DR or Ex-gratia may automatically be resolved.

Yes. In the matter of Ex gratia to pre 2002 pensioners UFBU raised the issue  on 18^th April meet with IBA, as follows:

“We pointed out that for the pre-Nov. 2002 pensioners, the DA needs to be notionally taken with 100% neutralisation for working out the ex-gratia amount and urged upon to IBA to suitably advise the Banks in this regard”

However, the same has not materialised so far.While agreeing on Ex gratia payment under 12 th BPS/JN it was also agreed that:

“The next review of the ex-gratia amount shall be undertaken in April 2024 and thereafter shall be subject to review annually and as mutually agreed between the IBA and the Unions/Associations”

In the above meet the position was as follows:

“The issue of review of Ex-gratia payable to all pensioners was discussed and it was agreed to continue the same ex-gratia amount w.e.f. 1-4- 2024 onwards for the current financial year. We have also suggested that after the Balance Sheets of the Banks as on March, 2024 are finalised and declared, the issue can be discussed further.”

Balance sheets of banks have came out now.  The fact remain now that, either Review of Ex-gratia  or extension of notional DR at100% to pre Nov 2002 pensioners have not been taken place .

Hope that it may be resolved without further delay!

 

 

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[JSOMA SHEKARA]

Updation discussions have not even started. UFBU also has no clarity. Updation possibility is doubtful unless MC Singla case is decided in pensioners favour. Even Updation is agreed in the near future it will be from prospective date only..Updation is not a priority for IBA and UFBU. How many of us will be there to avail updation benefit?

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[Chandrasekharan Srinivasan]

Sir, 

Union Bank of India has not yet issued the circular inviting resignees to apply for pension as per recent IBA's guidelines for those  resigned with 20 years of service.

Anybody knows when the Circular will be issued by Union Bank of India? Please guide me.
Regards,

Chandrasekharan

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[Satyanarayana Rao]

The agenda fixed for virtual meeting didn't mention any thing about reviews of Exgracia payment from April 2024 .

The UFBU is not keen on any issues of retirees especially belonging to pre 2002.

The serving employees unions of RBI are very much concerned about retirees and their wellbeing and secured pension updation and other benefits. 

If the UFBU unitedly fight for retirees pension updation and affordable health insurance they can definitely achieve it.

The crux of the issue is they are moving with snails pace in attending our issues. 

We have no option except waiting for the updation..

Yahoo Mail: Search, organise, conquer

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[Satyanarayana Rao]

Hope that it may be resolved without further delay. 

This sentence is the life line for all our pending issues including the vital important issue of pension updation. 

Yahoo Mail: Search, organise, conquer

On Sat, 6 Jul 2024 at 19:42, MOHAN P

<moha...@gmail.com> wwrote:

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[Visvam Ambattur]

IBA techically put "PENSION UPDATION" on pensioners' side by quoting MC Singla case & postpones talks . Is any body or any Retiree organization is trying to get the case withdrawn.?

Justice is already denied based on the saying "justice delayed is justice denied" .  Besides, there is no hope , even if the case is decided, how the justice will be delivered - in favour of GOI (IBA and banks) or the pensioners.

Regards,

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[Gopalakrishnan Ramachandran]

Updation of pension is a distant dream as of now. As stated if the court decision goes against the pensioners, updation may not happen at all.

In the circumstances it is better to get the ex-gratia improved by some points, with fixing the same notionally taking into account the 100%DA. This will provide temporary succour to all.

Simultaneously efforts should be made to arrive at a satisfactory formula of updation, if on the basis of RBI factors.

G Ramachandran

CB-SVRS 

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