100% DA Neutralisation and Pension Updation

[Narayanan Venkateshwaran]

In one of the famous works of William Shakespeare  there is usage of phrase  "MOST UNKINDEST CUT OF ALL" describing the stabbing  wound inflicted by one of the characters BRUTUS on Julius CEASOR .The reel  life in the Drama seem to have been enacted in real life of Bank Pensioners.

For a few of them it is Brutal wound and for sizable no of deceased  it was fatal.

Would it be inappropriate to call the whole issue as retaliatory Act on the part of Negotiating Union/Association for mass exodus of Employees under VRS, much to their chagrin.

 It is hard to believe that negotiating team was incapacitated for nearly 2 decades .It needs no pointer that almost whole of Ex Gratia received has been nullified by denial of DA raise in these nearly 2 decades rightful entitlement.

New round of Bipartite talks are now on

If negotiating Union/Association  are keen on atonement they should pave way for completion of updation which is also hanging fire.

Even now Updation issue is figuring in charter of demands as usual with  words like" to be settled" as early as possible

No body knows when is the dawn of that early period

Still the demand is second in line only to 5 Day Week

The usual stock of resources crunch in pension fund cannot be carried to eternity

These reasons were never there when pension scheme was conceived

Payable When able stance is untenable as pension is no different from salary

The following might have contributed to reduced in flow in to pension fund

a) GOI divestment of their 49% share,

making them only part owners with no possibility to infuse funds

b)Introduction of New Pension Scheme from 2010

c)Large scale NPA and write off leaving some Banks in red

Are the poor pensioners responsible for all the above?

When other Pensioners in similar walk  of life like RBI/NABARD  walk off with their entitlement it has left PSB pensioners yearning

Some thing needs to be done immediately( Not as Early As Possible)

Regards

C V Narayanan

[Chandrasekaran V]

As on date also, if a VRS scheme is floated, there will be many seniors, especially women, who will opt for it.

New comers do not stay long.   It costs a lot for the management on recruitment process time & money, lack of skill at the initial stages, lack of dedication (sorry to say so) in youngsters whose eyes are set on greener pastures etc.

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[bhaskara sarma]

Creation of huge NPAs during 2004_14 ,might be an excuse to deny any benefits to Pensioners. The political rulers were busy in sanctioning loans but never bothered about NPAs.Thus we lost almost a valuable life of 20years.Now Banks reduced NPAs and started earning handsome profits now.This positive change only may pave the way for Updation of Pension now.

Even BPS will be clinched in a short time due to this positive development. 

With regards,

P Bhaskara Sarma. 

[RANGARAJAN M R]

It  looks like that scores appear to have been settled against PRE 2002 pensioners in which the target was VRS pensioners to which Trade Unions/Associations were naturally opposed  . They were amazed at the overwhelming response to VRS even to the extent, some applicants going to courts for non acceptance by banks. The truncated DA formula almost covered  the EX GRATIA cost OR MORE considering these 22 years period. What more does a management need when it is given on a golden platter? Gain in reduction of staff and saving huge D.A. amount which otherwise would have been legitimately payable to pensioners in the normal course. 

Better late than never. At least surviving pensioners will now be able to meet part of sky rocketing prices consequent on the present 100% D.A. neutralisation rectification agreement which is being projected as though a big bonanza to pensioners. Let justice & truth prevail.

M.R.RANGARAJAN

[Ramakrishnan S]

 You rightly put it. Denial of 100% da to pre nov 2002 was infact a revenge taking by thenufbu leadership on VRS optees. They did everything to deny 5 yr weightage  co.mutation and granti g 50% basic pension to vrs optees. It was only because of the court cases we wonthose things. Many stalwarts were there and in the middle many left this world. Whatever the vrs people got extra  more than that was snatched away from them by denying this 100% da. In fact, when one compare the retirement benefits of a present clerk, with that of a se ior officer vrs optee   , the VRS benefits were abysmally low.  Both IBA and ufbu behaved grudgingly towards the pre2002 pensioners and only due to the intervention of FM Nirmalaji, due the the efforts of a group of dedecated retirees, pre2002 people got belated justice.

 

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[R Balaji]

pre 2002 pensioners issue resolved but what about pension updation for all ?

It seems that it will go to back bench  and may take further decade

R BALAJI

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[kds nair]

We got benefit of da neutralization and there is no use in highlighting the past by many people with different explanations and opinions.Please look for chance of getting arrears like in RBI.

 

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[Gopalakrishnan Ramachandran]

No use in lamenting over the past. All that ends well is good. Now that due to the benevolence of the FM we got the benefit, let us forget the past and move forward. All things are destined to happen and we do not have any role to play.

If we get updation also, it will be a bonus to us.

G Ramachandran

CB -SVRS 

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[kds nair]

IBA is looking into updation.Court can also order for it.We can get some information after 6/10/24.

[Aniruddha Varma]

Dear sirs,

It is mentioned here that 100%ദ neutralisation of Pre 2002 pensioners has been resolved.

But, whether it has been approved by DFS.

IT WILL BE VALID ONLY AFTER DFS APPROVES IT.

Yours faithfully,

TNAVARMA

03 08 23

On Thu, 3 Aug, 2023, 9:52 am R Balaji, <rbal...@gmail.com> wrote:

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[kds nair]

We write too much about the past.Blame people who were at the controlling positions of unions.Now we have to think of present and future only.We have to go miles for that.But be active and work relentlessly for achieving updation on rbi formula.

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