My Dear Friends, Re: Pension Updation - Regulation 35.1 of the Bank (Employees’) Pension Regulations, 1995- Latest Amendment ---------------------------------------------------------------------------- With The latest amendment made to the above regulation, it becomes mandatory obligation on all the concerned for its implementation, as it bears the stamp of approval of the Parliament- The Highest Law making body of the Country. Law Ministry being the only authority responsible to place the above amendment before the Parliament, Some of our colleagues have addressed letters to the Law Ministry of the Government to clarify the objective that necessitated the amendment and to advise all the concerned accordingly. Among others, I congratulate our friend Sri C N Venugopalan from North Paravoor (Kerala), who has also been fighting for the cause of our fraternity on the legal front, for his strenuous efforts . In fact, you are all aware that I am also one among those who addressed a letter to the Law ministry at the instance of our friend Sri Venugopalan garu. I also annex here with a copy of letter dtd.26 10 2017 by one of our colleagues, Dr.A.Ananthakirishna Rao of Hyderabad on the above issue. In fact, it’s my pleasure to share with you all my long association with Dr.Rao for over a decade- together as office bearers ie. My self being the Treasurer, worked in close proximity with Dr.Rao as the State Secretary of AIBOC ; ANDHRA PRADESH STATE UNIT. It may not be out of context to recollect his valuable support extended to me , as the State Secretary of our Syndicate Bank Officers Association, Andhra Pradesh. I always cherish those turbulent period of my tenure as the office bearer of AP State Units of both the organisations -viz: AIBOC as also SBOA . My long association with Dr. Rao, in close proximity are still afresh in my memory. I also request all our colleagues to address letters to the Law Ministry in your individual capacities for more impact. The sum total of our individual efforts culminate into a ‘FORCE TO RECKON WITH’ at the macro level to make “Powers that be” to act upon expeditiously. Quote: ------------------------------------------------------------------------------------Dr. A. Ananthakrishna Rao. Advocate Hyderabad, M.A. LL.B; CAIIB; M.A. M.Phil Ph.D (Sanskrit) PGDCA. Chief Manager (Retd) & Former Director. State Bank of Hyderabad &Former General Secretary, All India Bank Officers’ Confederation, AP Phones: 040 27175787 cell: 09441056542 _________________________________________________________________________ Dt. 26-10-2017 To The Secretary, Minstry of Law & Justice, Government of India, New Delhi - 110 001 Dear Sir, Regulation 35.1 of the Bank (Employees’) Pension Regulations, 1995 I bring to your kind attention that regulation 35.1 of the Bank (Employees’) Pension Regulations, 1995, a subordinate legislation put in place pursuant to Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970/1980 originally read as: "In respect of employees who retired between the 1st day of January, 1986 but before 31st day of October, 1987, basic pension and additional pension will be updated as per the formulae given in Appendix-I" The regulation was later amended to read as: "Basic pension and additional pension, wherever applicable shall be updated as per the formulae given in Appendix-1" The updation of basic pension which was confined to employees retired between 01.01.1986 and 31.10.1987 was thus extended to employees retiring at any point of time with an emphasis “shall be updated” in place of “will be updated” making the updation “ wherever applicable” mandatory. This apart, regulation 56 says that Pension Scheme in banks is on all fours with Central Civil Pension 1972 and exceptions and modifications are permissible with the specific sanction of the government. The government has not so far permitted any exceptions or modifications to regulation 56 and as such the pension in banks is to be revised in accordance with the new pay bands in the Bipartite Settlements as is done with implementation of Pay Commissions for Central Government employees. The status assigned to Nationalized Banks under Article 12 of the Constitution is that of “state” and it therefore follows beyond any ambiguity that employees of nationalized banks are to be reckoned as employees of the government and the dispensation under regulation 56 establishes that the Pension Scheme is one and the same for Bank Employees/Central Govt. Employees. This makes it imperative that pension in banks ought to be revised with each Bipartite Settlement in the same way Central Civil Pension is revised with implementation of each Pay Commission. But this has not been done on a wrong premises that there is no provision for updation. I earnestly request you to clarify the intention and purpose of stipulating “Basic Pension shall be updated” in the circumstance, at the earliest. Thanking You, Yours sincerely, Dr. A. Ananthakrishna Rao. Unquote: