THREE EMPLOYEE ORGANISATIONS TO HON.FM ON RETIREES ISSUES.

[MOHAN P]

INDIAN NATIONAL BANK OFFICERS CONGRESS (INBOC)

NATIONAL ORGANISATION BANK OFFICERS (NOBO)

ALL INDIA BANK OFFICERS' ASSOCIATION (AIBOA)

ORG:MIN:1:2026

02.04.2026

 

Smt. Nirmala Sitharaman,

 Hon'ble Finance Minister, Government of India.

Ministry of Finance, NEW DELHI.

 

Respected Madam,

We, on behalf of the bank officers of Public Sector Banks, respectfully submit this representation to draw your kind attention to several pressing issues affecting the workforce and pensioners in the banking sector.

Among many other issues they have included Updation of Pension too in above letter and relevant portion is furnished here under for information.

11. Pension Updation:

“Pension updation has been pending for a considerable period despite provisions in the Bank Employees' Pension Regulations 1995. Pensioners are facing financial hardship due to inflation. Some Bank pensions are not able to make both ends meet and are in pathetic conditions.

The interim ex gratia payments introduced recently, has not been revised despite provisions for annual review. We request that these be enhanced significantly until pension Updation is implemented.

Considering the present good health of all Banks these can be implemented without any hassle.

In the past, negotiating unions had agreed to treat Special pay not eligible for pensionary benefits. It was done at a time when financial health of banks was poor. Now health is improved and banks are earning huge profits. This decision must be reversed now with retrospective date."

12. Medical Insurance for Pensioners:

"We were given to understand that a proposal is under consideration for banks to absorb medical insurance premiums for pensioners also along with working employees. We request that this be expedited, as premiums are huge and not affordable by pensioners drawing such low pension. The subsidy provided by certain banks is not uniform and not enough."

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[Raghu Bhargava]

Dear Mohanji,

I have till date not opted for group health insurance as I was living abroad.

I believe as per latest circular I can opt for group insurance.

Can you pl help me in sending the latest circular.

Thanks,

RaghurajBhargava

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[Narayanan Venkateshwaran]

It was all so "Graceful " Of them to have made pensioners decades old pending demands as 11 and 12 th itemsin their letter to Hon FM

C V Narayaban

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[MOHAN P]

Dear Raghuraj Bhargava,

I didn't come across any IBA cir on this subject.Note that you are staying abroad now.I do not know whether  you are on a temporary visit  or otherwise.

IBA Group.Medi Insurance is meant for residents only.

The original Policy period for Retired Employees/Family Pensioners, is from

01.11.2025 to 31.10.2026.

To enroll under the policy one has to make payment of insurance premium in Oct'25 as stipulated by respective banks.

Other insurers found allowed pro rata policy after the above cut of period.

You may please contact your bank's HR/Pension/Retiree Cell or the dedicated portal  for confirmation on specific point.

 Policies and processes can have rare exceptions or clarifications, but based on available 2025 circulars, late enrollment after the cutoff is unlikely.

Regards

To view this discussion visit https://groups.google.com/d/msgid/bankpensioner/CAJWRD%3Dj7hsaH%3DnRZBWu6z7XhSeLBP9xG3TAx-_dCcrJd5ZxPcQ%40mail.gmail.com.

[Raghu Bhargava]

Thanks Sir,

Raghuraj Bhargava

To view this discussion visit https://groups.google.com/d/msgid/bankpensioner/CAMCbyDScZ-9LtO%2Bz1%2BL9N6CGxZZrWuLJaNs-jwE6HS%2Bue27cYw%40mail.gmail.com.