Petition update"SOS" CALL FROM THE SENIOR BANK RETIREES!!... "WE ARE HARD HIT BY INFLATION ....!!"A FERVENT APPEAL.....POSITIVE SIGNALS SEEM TO BE IN OFFING....?
Devulapalli Srinivasa MurtiHYDERABAD :(HASTINAPUR -North) 500 079, AP, India
10 Apr 2017 — Quote: "..........- TRANSPARENCY IN THE MANAGEMENT OF PENSION CORPUS: You may be aware sir, that ours is a fund based pension scheme with the employees contribution from out of their salaries every month as also the matching contributions from the employers towards the Pension Corpus which is supposed to be invested in the approved Government Securities to make it self-sufficient for smooth servicing of the scheme as envisaged by the settlement signed under the ID Act . The responsibility of managing/ servicing the pension corpus, is vested in the hands of the respective boards of trustees formed by the concerned banks who are to take the best interest of the beneficiaries of the Trust.... But I am apprehensive of the following: * Are bank managements crediting their matching contributions towards the Pension corpus on monthly basis as is being deducted from the serving employees...?(while disbursing their monthly salaries? – ) * Whether Investments of pension corpus are in conformity with the terms of the pension settlement as originally signed under the ID Act? * Whether the interest loss to the Pension Funds for retirees due to the amortisation of Pension cost of banks over 5 years in the IXth BPS, is made good ? else, Is it not an act of --misappropriation at the corporate level ?(embezzlement of funds) – THOUGH IT BEARS THE POST RATIFICATION BY THE RBI? Supposing, the same were to be indulged by any erring employee, for his/her Misconduct in a stray /isolated instance, he/she would have been sacked from the service mercilessly as per the service conditions !–Even for a paltry amount of involvement for that matter ! That being the case , Can the representatives of the unions on the respective pension trust boards plead for their “estoppels” from being guilty on par with the managements on the above logic? Only a thorough investigation by accredited institutions like CAG alone will be able to bring the truth to the surface in the interest of the innocent beneficiaries of the pension trust -ie. retirees like us........ ............If you try to look at the past Sir,....... Only the PCR Recommendations (Committee constituted by GOI), brought a sea change in the service conditions of the Bank Officers. This is besides many other committees constituted by the Governments in the past resulted to bring improvisations in the service conditions of the bank employees at large in the form of various “awards “ over a period of time. Let us not, therefore, lose sight of these historical facts. IN THE BACKDROP OF THE ABOVE SCENARIO........Under the given circumstances, time has come for us- we the retirees, To urge the Government to set up a--- "Banking Pay Commission" - the only ultimate recourse, for all of us- as we do will have, a "statutory body of authenticity" to which we can represent for the redress of our legitimate grievances directly through our organisation/s with dignity and decorum. Thus we can as well eliminate the “manipulations” at the behest of IBA/Unions during the negotiations which are very much detrimental to the interests of the bank retirees as stated supra............" Sir, in my six decades of active life, I have come across only two statesmen as Prime Ministers of our nation - viz: Late Lal Bahadur Shastriji and the next being, none but yourself who have kept the priorities of the nation at high esteem with firm conviction and determination to be the trend-setters as leaders by example. In the light of the above.....With folded hands..... I make this fervent appeal to you sir! to come to our rescue who are to die at any moment at this fag end of our lives “SOS” unquote: For more details......click the link to sign the petition..... https://www.change.org/p/hon-ble-prime-minister-of-india-sri-narendra-modi-plight-of-the-bank-retirees-urgency-to-constitute-banking-pay-commission?source_location=minibar Last but not the least.... I am given to understand that, in a glaring contrast to the earlier news,-- that Unions refused to sign the MOU unless several of their conditions are accepted by the Govt. Whereas, Now it is understood that they have signed the same MOU without any pre-conditions. .... If it were be so, then.."What transpired in between ....?" for such an unconditional total surrender by these great unions..(ie.UFBU), with their mighty bargaining power in their armory? --- a million dollar question ! it 's left to the wisdom of my learned brethren.....
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