Q&A IN RAJYA SABHA ON UPDATION OF PENSION.

[MOHAN P]

Still on the same 'Cut and Paste'answer!

"As per IBA, it has filed a Counter Affidavit dated 24.08.2022 before the Hon’ble Supreme Court in SLP No.5561/2016 (M.C. Singla case).      

           The Pension Regulations of PSBs do not have provision for updation of pension.  Also, no proposal to update the pension of retirees of PSBs beyond the existing provisions of the relevant Pension Regulations, is presently under consideration. "

[JSOMA SHEKARA]

Ex gratia will stop from 01.11.2027. 

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[Niranjan Cn]

Sir wage revision is for which period sir ? 

Niranjan 

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[Satyanarayana Rao]

Once the Supreme court favourable verdict is delivered and directs the IBA to update the pension on RBI pension formula the ex-gratia payment and present system of pension payments will disappear automatically.

Yahoo Mail: Search, organise, conquer

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[JSOMA SHEKARA]

12  BPS from 01.11.2022 to 31.10 2027.

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[Prasad C N]

Dear friends,

Even in LIC of India, their Pension is not revised.  Like our Singla's case, their case is also pending before Hon'ble Supreme Court.  Like RBI their Board has approved Pension Revision.

Governement has never said there is no provision in Pension Regulations in Parliament.  Can any of you enlighten us why the Government is saying so only in respect of Bank Pensioners?

Thanking you,

With regards,

Prasad C N

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[JSOMA SHEKARA]

I respect the views of CN Prasad Sir, Mohan Sir. Sri Kalyana Sundaram, Sri Niranjan and other respected members

of this forum. I also agree with their views that  Reg35/1 does not permit pension updation and there is no  shortage or excess in pension funds. These arguments are relevant to legal disputes that are pending in courts and are totally irrelevant for  UFBU to negotiate updation with iBA.

Before calling respected members of this forum Whatsup University Professors, we must understand stark reality.

Pre 2002  pensioners' basic pension has not been revised for the last 30 years.  Still 60-70% of pensioners are depending on their monthly pension and funding it difficult to manage with existing pension. Out of 750000 retirees only 20%  have opted for IBAs medical scheme as  at least 60% of them could not afford to lose 3 months pension every year. Shall we ask them to accept theories and keep quiet as they are receiving monthly pension.

Thousands of RBI employees demanded and launched a struggle for updation in spite of pension rules not permitting

updation like Reg35/1. Are all of them and DFS officials who accepted such an  illegal demand (as per our understanding)  are all from Whatsup University?

All respected members  whom we are calling  whatsup university members have served respective banks, contributed to the growth of banks as well unions for 35y ears opted for pension and expecting improvement in pension,

Reg35/1 is 30 years old, and knowledge that there is no shortage or excess in pension funds is also 30 years old.

But the most shameful thing is no attempt was made to amend pension regulations to provide for updation.

500 years old Temple issue solved, article 370 abolished, Constitution was amended 120 times  but Reg35/1 is sacred for us. We think this cannot be changed.

Do whatsup university professors have authority to amend regulations? Knowledge is useless unless it is put into practical use to get benefits.

High courts have given verdict and SC may also pass verdict shortly.

But verdicts are no bar for UFBU to discuss updation, negotiate cost and implement a reasonable updation scheme.

CHV without uploading any formula or cost details claiming there are no funds for updation. Is he from whatsup university?

RBI employees unions realized their moral obligation to support retirees for the cause of updation. It is the right time to put pressure on UFBU leaders to make them realize their responsibilities and take up updation issue seriously.

Negotiate cost, if ldemand is 100 Rs negotiate for Rs.50 Rs. Keeping silence in BPS meetings and making tall claims in public speeches not becoming of  leaders. 

When we have knowledge that Reg35/1 does not give us updation, we should submit representation in thousands to AIBOC and AIBEA to amend regulations to provide for updation.

Reply given by DFS in Rajaya sabha that there is no provision for updation when DFS itself approved updation  for RBI pensioners, is a direct slap on UFBU leaders for their inaction, insensitivity and not fulfilling their moral obligations as they have authority to discuss issue with iBA and change it.

Let us not glorify Reg35/1 , Let us change it.

Let us respect the sentiments of the majority of members who are demanding merger of DA, updation, pension on special allowance.

Cost is an excuse. RRBs are paying arrears from DOR and they have not shut down.