Defined Pension Scheme DBS and updation

[Narayanan Venkateshwaran]

It is learnt that IBA in their affidavit submitted in SC has stated that Bank Employee's pension regulation does not provide for updation. 

It is to be understood that DBS by DEFAULT provides for updation unless negated by  specific clause. Ours is on the lines RBI pension /Central Govt pension scheme. 

Earlier alibi in denying pension updation was that even for RBI it has not yet been permitted which is 

 no more valid. 

The Hon bench of SC in the last hearing had asserted that  regulation should not be violated. 

Shri DN Prasad in one of his jottings requested members to confirm our  getting pension  as per regulations. 

We may say unanimously NO In terms of above. 

The bogey of lack of funds cannot be sustained for decades.

 RBI pensioners who are part of banking system cannot be blue eyed boys.RBi has no operational risks.They owe large part of their profit to our operations

We are not for selective approach among well /not well doing banks. We are  one. No discrimination. 

If some banks are not upto expectation it is govt policy to be blamed. Poor pensioners cannot be  hapless victims. Government has umpteen ways to find resources

Lastly let us shed our obsession with 35(1) because of raging debate about it's utility for updation almost to the extent of  quoting IPC/CRPC

One thing is sure. The formula /Formulae as it stands fited the needs of those pensioners who had retired before 1995 when pension scheme was introducced with retrospective effect. 

Our demand for updation is  on the lines of what is given during BPS to serving employees which is da merger and multiplication factor for small dose of updation which is just an integer and no formula. We get nothing beyond that unlike service employees who get value addition for retirement. 

DFS/IBA are denying even da merger on the over fear psyche that the miniscule higher emolument by such act would pave way for updation demand . 

In the Parliament it was proclaimed during question hour that we are paid da religiously. There is only half truth in it going by above example. For 100%da neutralisation was not an undertaking not to demand arrears was taken? 

. 

 

[Narayanan Venkateshwaran]

The above post got submitted before closure. Sorry

C v narayanan

[Prasad C N]

Dear Shri Narayanan Venkateshwaran,

You have written at length.  You have stated as under:

RBI pensioners who are part of banking system cannot be blue eyed boys.RBi has no operational risks.They owe large part of their profit to our operations

We are not for selective approach among well /not well doing banks. We are  one. No discrimination. 

If some banks are not upto expectation it is govt policy to be blamed. Poor pensioners cannot be  hapless victims. Government has umpteen ways to find resources

Whether State Bank of India Employees, Officers and Pensioners are blue eyed boys?

Whether there could be selective approach?  Are we not all one?  Do you know, there is discrimination between SBI & Non-SBI Employees, Officers and Pensioners?

Whether poor pensioners fromother Banks be hapless victims?

My dear friend, why should we turn a blind eye, as far as Employees, Officers and Pensioners of SBI vis-a-vis other Bank Pensioners.  I will give my own example.  I retired 25 years ago.  If CPF is paid to me, I am entitled to Rs.20.00 lakhs.  If there is pension updation, at best I can expect Rs.10,000/- per month. But, we are more bothered about meagre increase, but ignore huge benefits available in one among Public Sector Banks.

Thanks, a Million. 

With regards,

Prasad C N

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[Narayanan Venkateshwaran]

Dear prasadji

Your revelations make sad reading. Many of us  are not quite aware of disparity in service benefit between SBI and eSBI. The recently won court case by your organisation was thought to be end of  negation of many benefits. 

We the wounded soldiers on the otherside can at best offer our best wishes in your continuing valiant fight. 

Regards

C V Narayanan

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