This is viral message in circulation since last three years and already the matter has been discussed in this forum. As you know, regarding updating of Pension several cases are pending in Supreme Court and yet to come up for hearing. The Retiree Associations will take appropriate action at the time of hearing.
The initiative by Mr. Dushmanta Dave is a welcome trend and any Pensioner can take the initiative based on his offer.
The fate of letter written by Mr. S R Sengupta to IBA must have lost its track due to their non-cooperative attitude and without persuasion.
In the record note dt. 25.05.2015, signed between IBA and UFBU the fate of Retirees are sealed, as because IBA has categorically mentioned that demand of Retirees can be examined as a welfare measure, as contractual relationship does not exist between banks and Retirees.
Referring to the repeated comparison of Pension scheme in Banks and Government Pensions, IBA has taken a stand that Government pension is budgetary allocation, but Banks Pension is funded scheme. The Bank is expected to ensure that adequate funding is made for payment of Pension /Family pension with provision for periodic updating of dearness relief.
Although, the Pension fund is growing every year and the expenditure is far below the interest accrued amount, yet the assessment of actual expenditure could not be done during the last three years, which can be construed as lack of interest by IBA & UFBU.
As the Retirees organisation, so far failed to derive negotiating relation with IBA, it is only UFBU or Supreme Court, who can bail out the Retirees from the present situation. When UFBU is keeping distance, the only hope is Supreme Court, which takes time.
However, the Retirees organisations are not leaving no stone unturned to find a solution to the problems.
Gopabandhu Mohapatra
Retd. Andhra Bank