bankpensioner retirees group

Perumal Velayudhan

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May 11, 2010, 4:31:16 AM5/11/10

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11th May 2010

Dear fellow bank retirees,

As all are suggesting, we have to support those people who are fighting for the cause of setting right the pension anomolies.

A group can , in my opinion , be formed consisting of persons knowledgeable, advocate retiree bankers.

MR.pradeep kumar, who has been fighting all alone in supreme court, may start a group

his cell nos :09310572530, 09278983944 E-Mail ID : adv.pr...@yahoo.com

address N. Pradeep Kumar C/o Mr. Sunil Bhagi, A-104, Swetha Apartment, Flat No. 13, Ground Floor, Shalimar Garden, Extension – 2, Sahibabad, Ghaziabad (U.P.)

communication to all bank employees by Mr.Sunil kumar sharma in allbankingsolutions.com is comprehensive, contained basis for fighting in courts etc. It it is the case as mentioned in the communication that our pension regulations are on the basis of central govt employees and the clause is incorporation in our bank pension rules, that will be a major plus point for us in legal battles.

Mr. venugopalan who is doing a one man crusade for payment of pension etc`can also guide and be form of the team.

Mr.V.R.Mohan too is in my opinion knowledgeable and has tobe taken into the group for fighing for justice.

I dont know many persons, who are fighting all alone, all of them also should join the group and all others should support both monetarily as well as otherwise.

Let us make a good begining for the fight for just cause.

vmperumal

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Bajrang Lal Choudhary

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May 11, 2010, 6:18:10 AM5/11/10

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Following Email is for the information of all friends-

THE ATROCIOUS PENSION OPTION FOR RETIRED PF OPTEES

After more than 35 years of service as an officer, I retired from the bank on 31.7.2009 as Senior Manager. At the time of introduction of pension in the banks, unfortunately I opted CPF based on the wise advice of wise leaders of our Association.

Though I was in service on the start of effective date of this 9^th bipartite settlement, I am considered as retired PF optee for the latest pension option. Accordingly as per the settlement I have to refund the entire PF and interest (bank share) I have received at the time of retirement plus a whopping 56.00% of that amount. It comes to around Rs15.60 lakh (PF and interest received Rs 10 lakh + my additional contribution Rs 5.60)

Apart from the atrocity, unfairness, discrimination and injustice involved in such a stipulation, its sheer arithmetic also baffles me to no end. As every one is engrossed in the injustice of shelling out 2.8 times of monthly salary for PF optees in service, no one is seen giving any attention to this.

Further one leader was seen advising the serving PF optees to take comfort in the fact that they are shelling out only 15% of their accumulated PF whereas retirees are shelling out 56% due to their historic settlement. The baffling arithmetic will be evident from the following

As per the IBA minutes released the arithmetic involved is as follows.

1.No of retired PF optees 60,000.

2.Banks total liability to offer pension option to those retirees

as arrived at by actuarial valuation 4774 crore

3.PF accumulation of those retirees as on 31.3.2008 1657 crore

4.Balance liability 3116 crore

5.30% of this liability to be shared by employees 934.95 crore

6.This comes to 56.42% of PF accumulation of Rs1657 crores -----------

7.If this 934.95 crore contribution required is shared by all the

60,000 retirees it comes to per head contribution of only… 1.55 lakh

8.Then how come that I need to shell out Rs 5.65 lakh as my

additional contribution

9.If the banks insist on 56.00% of PF and interest received irrespective

of the quantum and if at least 1/3 rd of 60,000 retirees contribute at

this rate and remaining 2/3 with a lesser contribution of Rs 2lakh

the amount collected will be double of the deficit at…………………..1920 crore

10.Who is going to watch on those collections? These hapless retirees or

their insincere leaders.

11.I even have doubts about the PF accumulation figure provided.

12.If IBA can come up with such atrocious conditions one can also

doubt those figures.

13.Hence my suggestion in this regard is - 60000 retired PF optees will

share the deficit of Rs 935 crores at the rate of Rs1.56 lakh per head

or 56.00 % of PF which ever is lower. This will make the refund

transparent ,will clear the confusion and will prevent excess

recovery.

16.Please bring this mail to the attention of all the retirees for their opinion and

action.

Radha Kambhampati

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May 11, 2010, 11:08:02 AM5/11/10

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with the details you have please file suit before high court of your state under article 226 of constitution of India. gather good many number of unfortunate PF optees like you and crusade against the injustice. I wish you best of luck in your endevours.

--- On Tue, 11/5/10, Bajrang Lal Choudhary <bajranglal...@yahoo.in> wrote:

Manjunatha Ajjampura

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May 11, 2010, 2:07:01 PM5/11/10

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Dear comrades,

Justice delayed.............
------------------------

Many comrades are aggrieved, upset, frustrated. There are many categories viz., Resignees...Retirees...PF optees....Pension Optees whose fitment is denied of Pension Regulation No. 29 (i.e. five years weight-age after 20 years of service).

Many have expressed to form groups to fight legally. We all know that thousands of cases are pending in High Courts and Supreme court. Some of our comrades went in 2001 itself and final judgement of Supreme court came only in 2008. 7 years is not a small time. You need lot of patience, money. In Bangalore, some of us had also filed WP in High court in 2001 itself. But on account of transfers/lack of co-ordination, we lost the track.

Now, I am of the humble opinion that separate groups (Resignees, PF Optees, Pension Optees etc.) MUST be formed to fight legally. There is no use if all the issues are combined together to fight.

Initially, some of our comrades pool the funds with enthusiasm and others only enquire/write/make phone calls which is of no use absolutely. Before filing we have to prepare a lot. Assemble of interested persons, discussion with experts/seniors/experienced, making a budget etc. all necessary.

In Bangalore, in the year 2008, we(three of us) made such an attempt, i.e. pooling of information, getting photocopies of important court decisions, bank circulars etc. After a lot of preparation we drafted a letter to all the aggrieved comrades to assemble and discuss to decide the further step. We spent thousands of rupees for photocopying/courier charges/conveyance etc.and sent the letters to 40+ members in the list of aggrieved retirees.

Friends, I am sharing this painful experience that none of the recipients respondedto our letters. We did not receive a single response whatsoever. Now our struggle has come to a stage and some of us are getting (It is in the pipeline) five years weight-age and we have won a step/a stage at least. Now those who had not at all replied/responded so far are making telephone calls, daily.

I summarize and share with you all that while fighting please have patience, don't forget that we have to struggle with our own comrades also.

- A.N.MANJUNATH,

Retired SBM Manager.

From: Perumal Velayudhan <vmpe...@gmail.com>
To: bankpe...@googlegroups.com
Sent: Tue, 11 May, 2010 2:01:16 PM
Subject: bankpensioner retirees group