Updation of bank pension

0 have signed. Let’s get to 1,500!



Updation of pension for bank pensioners

Nationalised banks, State bank of india , RBI and also grama banks -all have pension scheme as government employees. RBI has its own scheme. SBI has its own pension scheme since its inception. It has inherited from its earlier institution ie from  Imperial bank of india which was converted as SBI In 1955

 Nationised banks had got pension scheme in the year 1993 for which it had a long struggle history

 Finally pension scheme was introduced in National banks in 1993 with retrospective effect from.1.1986. Though pension scheme is in banks, Banks have not revised pension along with wage revision settlement for employees &officers.

Regarding Sbi, pension has not been revised since the second bipartite wage revision settlement from 1970. It continues still date violating the rules for pension updation.

Likewise for public sector banks also, there is no revision of pension since 1992 ie from the 6th wage revision settlement. 

Though there exists supreme court orders that pension is not a bounty. It is not given by the show of mercy of the employers. It is nothing but wages deferred-Deferred wage.

Whenever wages is revised,  then pension should also be revised as a corollary. As a negative impact of non revision, those who retired during previous wage settlement period will get less than the next period pensioner as the pension is based on basic.

More pathetic is that a senior manager may get less pension than a clerk who retires later at the next wage settlement period due to the non revision of pension basic..

All representations to remove this anamoly have not yielded any response from finance ministry 

The court cases against the injustices have not resulted in any change and Pensioners lead a pathetic life in  all these decades.

Govt has introduced code of wages act which covers banks and LIC . The act itself provides for updation of pension. 

Ignoring rules, court verdict of similar cases and the code of wages act, IBA under the insistence of finance ministry, has entered a memorandum of understanding with unions joint forum UFBU ignoring pension updation.

No justice

No regard to existing rules

No response to code of wages act.

That is why we witness strong resentment among bank pensioners . As bank pensioners, we are voicing against these injustice and pray the govt to consider our genuine demand of updation of pension for bank employees.