OUTCOME OF IBA-UFBU MEET DT.28TH FEB'23

[mohan p]

For.Information only:

Wait for UFBU Circular for further details:

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On Residual Issues *MEETING WITH IBA*

"Following Issues were discussed.

1) UPDATION OF PENSION : IBA will study the complete data such as no. of pensioners, present outgo and future burden etc. Thereafter further discussion will take place.

2) FIVE DAY WEEK : There was discussion on adjustment of working hours, cash hours, customer service hours. This discussion was carried forward from last Meeting on Residual Issues.

It was agreed to have uniform office hours from 9.50 am to 5.30 pm on all working days.

Cash hours will be from 10 am to 4 pm.

Customer Service will be rendered till 4.30 pm.

On the above lines recommendation for Five Day Week will be sent to DFS (Dept of Financial Services) of Govt of India by IBA.

3) Fitment of Ex Servicemen Employees : Ex Servicemen recruited between 1.11.2017 and 10.11.2020 are facing issue of recovery due to anomalies in fitment. IBA has agreed to ensure that Banks don't make any recovery.

4) Medical Insurance : IBA has asked for names of TPAs with cases pending. IBA may have Meeting with those TPAs. IBA is requested to have Meeting with top management of Insurance Company also.

5) Deputation Allowance : In the current settlement quantum of Deputation Allowance is not specified. IBA asked Unions to not to pursue this issue as the settlement is already signed. This issue will be taken care during finalisation of forthcoming Bipartite.

Overall tone of the Meeting was positive.

We hope that Five Day Week for Bankers may become reality in near future."

[Sureshbhat M]

Disappointing the retirees again  on pension  updation also looks  a reality. 😩

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[JSOMA SHEKARA]

It is totally ridiculous and disgusting.

Present Pension outgo, and number of pensioners details are readily available to IBA within 24 hours notice. Actual updation cost also can be obtained with few days notice.

What is there to study? Is IBA writing a thesis on updation.?

UFBU submitted a proposal on 1st Feb 2023. IBA had 27 days to collect these details from Banks and arrive  at a scheme pending actuary report.

How many years more IBA want to study updation cost?

Even this some may describe as a positive news.

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[Niranjan Cn]

Sir,  IBA is well aware of the cost and it is also known that a big corpus also required for taking updation.  Question is how to mobilise the funds by the individual Banks.  If all the Banks confirm that they are ready - it will be a formality.  Kindly discuss with your Bank and get confirmation that they are ready for pension revision and made funds ready.  Try for that.

Without understanding the issues,  it is very easy to question to question the wisdom of IBA and UFBU.

Niranjan

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[vrsivaram...@yahoo.in]

UNION leaders are worst than politicians. They want to hold the post permanently, so they don't worry about employees and retirees

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[JSOMA SHEKARA]

We have understood issues very well.

Hon.FM has stated in Parliament that if IBA submits a proposal it will be considered.

IBA in its website has stated that it will not take any decisions on its own and act according to the specific mandate from Banks. When IBA asked UFBU to submit a proposal for updation it is clear it has a mandate from Banks to discuss updation. Unless Banks are ready they will not give mandate. Each  bank is paying crores of Rupees every year to IBA for conducting negotiations  and other work. Both IBA and UFBU have legal right to demand cost data and other pensioners details from Banks. No of Pensioners and present outgo is readily available to IBA at free of cost from Banks and nobody has prevented IBA from obtaining the same.

Getting an actuary report does not take more than 1 month and not 15 years as UFBU demands in every meeting. For the last 15 years we are only hearing that the updation cost is huge, 100% DA cost is huge but both IBA and UFBU never disclosed that amount.

We are all aware there are various formulas for Updation. How IBA will calculate cost if iBA and UFBU zeroed in on a particular formula. Without a formula how you will arrive at cost?

Only the UFBU version "is we have suggested appointment of two more actuaries" which they have been suggesting for the past 15 years. When calculating OROP arrears, opening Jan Dhan accounts, Banks will do it within no time because there is accountability and IBA itself will advise Banks to complete work within deadline. ,For calculating updation cost they will take 15 years because as for pensioners issues concerned there is no accountability and there is no pressure from UFBU. On the one hand, instead of dealing with a responsible committee you are negotiating with IBA which does not come under RTI and will not communicate with Retirees.

If it is a committee formed by Banks or DFS  which comes under RTI, pensioners would have got cost details long back.

After getting a proposal from UFBU on 1st Feb 2023, IBA should have come with cost details on 28th Feb 2023. In every meeting instead of taking discussion forward if IBA only says the cost to be studied there is no end.

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[Ramani Konnayar]

A few days ago, Sri. Somashekara had written that UFBU, who had in their Chennai meeting on 15/12/2022 decided to seek updation for pre2002 retirees to start with, suddenly made a u-turn at the insistence of AIBPARC through AIBOC, to whom they owe allegiance and demanded "updation for all".

In this regard, it may please be noted that AIBRF who seem to owe allegiance to AIBEA/AIBOA had, in their communication dt 26/12/2022 addressed to the convenor of UFBU expressed their disappointment over the unilateral decision of UFBU, without taking into confidence the retirees' organizations, to seek updation in stages, in a phased manner and insisted on updation for all.

However, a few months earlier, AIBRF had expressed that pre2002 pensioners whose average age was 75+ and whose number was dwindling down rapidly suffered from low basic pension as well as tapered DA for the past 17 years and their case needed to be taken up on a priority basis. 

The percentage of pre2002 pensioners in AIBPARC as well as AIBRF, the two major organizations may be less than10% considering that their total number for all banks put together is around 45000 out of the total of around 7 lakhs. So, naturally, AIBPARC as well as AIBRF have to speak for the majority. 

The pre2002 pensioners who are presently losing between ₹4000 to ₹9000(depending on their basic pension) every month due to tapered DA would consider sanction of 100% DA itself as a mini updation. They are even prepared to wait for the situation to become conducive to grant updation to all. However, they wish to get the DA anomaly to be removed at least prospectively, soon.

They fervently hope IBA will take a favourable decision in the matter soon following the enhancements in Family Pension and pre1896 exgratia

granted by them in the recent past. 

Incidentally, one is unable to understand how the Supreme Court judgement in the 100%DA case could be an impediment in the matter as propounded by SriCHV in his speech at the AIBRF conference recently. It will be good if any member can enlighten. 

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[metlapallisarma]

TOTALLY DISGUSTING FOR THE PENSIONERS. SAME OLD RHETORIC. POSITIVE , SYMPATHETIC, COST STUDY, IBA WILL TAKE A SUITABLE DECISION AND START DISCUSSION. RETIREES ARE RUNNING AFTER A MIRAGE TO QUENCH THEIR THIRST. PATHETIC UNENDING DRAMA OF FALSE ASSURANCES. IS IT CURTAINS ON THE  FOND HOPES OF THE BANK RETIREES FOREVER? BETTER WE RESIGN TO OUR FATE!

[bhaskara sarma]

Nowadays banks are earning good profits. They don't have any funds problems now.

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