bankpensioner PF OPTEES DO NOT COMMIT MISTAKE SECOND TIME , your KIND ATTENTION PLEASE

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Srirama Murti

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19 May 2010, 13:46:3819/05/2010
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DEAR ALL,
 
         it pains a lot to hear from some quarters, not to opt for pension(second option for pension).
earlier also in these columns I made a note of caution , IF YOU DO NOT OPT FOR PENSION THIS TIME, NO FORCE WILL SAVE YOU ON THIS EARTH.  example I quoted certain Railway employees long back by not opting for pension, and instead opted for PF, that SO CALLED PF BIG AMOUNT EVAPORATED IN NO TIME DUE TO MANY REASONS AND THEY FOUND THEMSELVES ON STREETS. because RAILWAY PENSION is our role model, it is different matter unions, iba, and central govt are depriving us of our eligible rights.
 
        FIRST YOU ACCEPT THIS SECOND OPTION FOR PENSION. BECAUSE TIME IS RUNNING SHORT. YOU HAVE TO ACCEPT WITHIN 60 days FROM DATE OF OFFER.
 
        SOME OF OUR LEARNED BANKMEN ARE UNDER THE IMPRESSION THAT THIS SO CALLED BIG PF AMOUNT INSTEAD OF RETURNING TO PENSION FUND WITH OR WITHOUT 56% EXTRA WILL SAVE THEM A LOT.
 
      IT WILL SAVE THEM ONLY TEMPORARY HEADACHE. AFTER SOME TIME, THE REAL HEAD ACHE WILL START. THE AMOUNT IS LIKELY TO EVAPORATE. THE PENSION OPTEE SAY AFTER 24 OR 30 MONTHS WOULD BE SMILING. BECAUSE HE IS GETTING MONTHLY PENSION, LEADING PEACEFUL LIFE. THE PF OPTEE'S AMOUNT WAS INVESTED IN UNDESIRABLE CHANNELS AND LOST THE TRACK UNFORTUNATELY.
 
     WHO KNOWS TOMORROW WISDOM MAY DAWN ON OUR IBA AND LEADERS IN THE SENSE THAT MORE WAYS WOULD BE CHALKED OUT TO BETTER THE LOT OF PENSIONERS.
 
      ONCE YOU ARE NOT CONNECTED TO PENSION CHANNEL, YOUR FUTURE IS NOT BRIGHT, YOUR FAMILY 'S RIGHT TO FAMILY PENSION RULED OUT SUMMARILY.SO YOU ARE KEEPING YOUR FAMILY IN DARK BY YOUR DELIBERATE ACTION OF REMAINING PF OPTEE. IT IS UNFORTUNATE SOME OF OUR PF OPTEES RETIRED 2001 ARE NOW STRUGGLING EVEN TO RETURN 100% PF NOT TO SPEAK ADDITIONAL 56%.
 
     ALSO I HEARD INDIAN BANK TREATING ALL EXISTING PF OPTEES AS PENSION OPTEES UNDER THIS SECOND TIME OPTION AND ASKING IF ANY ONE WANTS TO REMAIN AS PF OPTEE, SUCH PF OPTEE HAS TO SUBMIT IRREVOCALBLE LETTER SAYING HE IS NOT OPTING FOR PENSION.  THIS IS GOOD.
 
     I REQUEST BANK MANAGEMENTS TO HAVE BIG HEART AND HELP THOSE RETIREES UNABLE TO RETURN PF AMOUNT BACK TO PENSION FUND, THEYBE SANCTIONED INTEREST FREE LOANS TO MEET THE NORMS REPAYABLE IN 24 EQUAL MONTHLY INSTALMENTS.
 
     LET NOBLE THOUGHTS COME TO US FROM ALL SIDES.
----S.SRI RAMA MURTHY

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venugopal cheriyachanaseril

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19 May 2010, 21:18:1419/05/2010
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Rendering of Srirama Murti  is full of wisdom. I had published one in the Pay Commission Blog an identical message on the dilemma facing bank men.  Today we possess so many things.  If we are not there the next moment, we will lose everything.  Likewise, if we become unfortunate to enjoy the benefits of pension for long,  it can be pure destiny.  Man proposes God disposes.   This is a social security benefit  targeted to  keep us comfortable.  If the perennial source of income is there, that itself will deprive us of  our anxiety and help us sail in the ocean of life comfortably.    The pay back one has to make is only the 2.8 times pay or 56 percent.  the CPF balance is the amount which the Pension Optees have also contributed  and it should not come into the calculations.   The pay back of 2.8 times or 56 percent is an illegal collection which we can recover with interest DV.    God will not despise.

The already gone thing is knocking at your door once again because of the mercy of God.  It would never have come back but for His plan to reestablish righteousness.  Supreme Court was of no assistance to the victims who approached it with appeals. Government had ruled out the thing ignoring the provisions of the magnificent Constitution of India. The issue was a stale one as 11 years passed by from Feb. 1999 when fresh option was due. And Unions had agreed not to ask for it again while they signed the 8th Bipartite Settlement closing door ultimately for ever.

IBA and Banks are mere trading houses.  They will not do anything for the welfare of the people which fact has been proved already by their arbitrary and illegal actions that took away the rights of the retired and working.   Unions function for the benefit of leaders only who secure comfortable postings for themselves, salary for not  at all working . tolls from members which is collected by banks through check off , placement as directors  etc. 

Now the impossible has become possible and wisdom calls for embracing the social security benefit by grabbing the opportunity.    It will never reach us again if we miss the last chance.  Equations and calculations one make can prove wrong in course of time.  Trust in God and do as per His intuition.

God Bless all of us

Thanks and Regards

Venugopal
Manmohan Singh2010.doc
EVALUATE THE GREAT CONTRIBUTION TO BANKING SYSTEM.doc
SANS Justice.doc

Narayana Melkote

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20 May 2010, 08:17:1520/05/2010
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Dear ALL,

     It pains me a lot to know that those PF optees who are now desirous of receiving pension have hit the wall and are finding it difficult to mobilise the required amount.   It is very clear that they have failed to manage the VRS benefits judiciously as originally intended to.   It is high time for them to look into the pros and cons of the offer and ensure that they slip into the social security package called pension and live with dignity the rest of their life !



From: Srirama Murti <ssrm...@yahoo.com>
To: bankpensioner google <bankpe...@googlegroups.com>; bankvrs google <ban...@googlegroups.com>
Sent: Wed, 19 May, 2010 10:16:38 PM
Subject: bankpensioner PF OPTEES DO NOT COMMIT MISTAKE SECOND TIME , your KIND ATTENTION PLEASE

Raghavan S

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20 May 2010, 11:12:1220/05/2010
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Dear friends,

I differ from Sri Narayana Melkote with regard to manage VRS benefits. To be frank,
I took voluntary retirement from Bank on 29/02/2000 as I undergone two major
surgeries in June 1999 and January 2000. I was on leave for almost 7 months. I could not
do justice shouldering higher responsibilities as well as working for nearly for around 10 hours a day. I have not received a single pie other than the Provident Fund and Gratuity. I could not also encash the full entitlement of 240 days as I was forced to take leave for my treatment.
Had I waited till December 2000 I would have earned 10 months salary as well as VRS benefits for one more year as my superannuation date was Dec. 2001. Many of my colleagues who took VRS have received sumptuous amount as package.

My only submission to the authorities concerned is to give special relief to officers like myself who has lost Rs.2.50 lacs as salary and Rs.3.00 lacs as VRS package.

Please tell me, whether my case is a fit case for some extra relief, as there will be handful of officers/employees who fall in to my category.

Let my colleagues understand the situation where I am at present. I have voiced my concerns
to the leaders but in vain

S.Raghavan

venugopal cheriyachanaseril

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20 May 2010, 11:28:4520/05/2010
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DEar Shri. Raghavan,

The people who do not pay even the legal entitlements will never give any extra benefits to any one.   You will be entitled to Pension Option if you are sent through VRS since all those in service in 1995 are entitled to fresh option.   Payment of Pension from the date of retirement and getting back the 56 percent to be paid as levy can be taken up later and obtained back.

Thankd and Regards

Venugopal
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