PENSION UPDATION vs. REVISION A CLARIFICATION
https://drive.google.com/file/d/1BmhH6u7D238Hps8zTRDDzGoyoHLb4XSe/view?usp=sharing
Srinivasa Murti Devulapalli <devulapallimurti@gmail.com>
2 January 2021 at 21:38
To:All my friends on the mailing list....
PENSION UPDATION vs. REVISION A CLARIFICATION
My Dear Firends,
IBA / UFBU BEING THE TWO SIDES OF THE SAME COIN ARE INDULGING IN MISINFORMATION CAMPAIGN PROPAGATING PENSION UPDATION BY MERGING DA @ 6352 POINTS NOTIONALLY AS ON 01 11 2017 (100% DA Neutralization - so to say) and deprive us of our legitimate demand of PENSION REVISION ON RBI LINES.
WE DO NOT WANT MERE PENSION UPDATION..... WE DEMAND PENSION REVISION ON RBI LINES.....
THE REASONS ARE MORE FULLY EXPLAINED FOR YOUR CLARITY AND UNDERSTANDING:
Reg 35(1) alone gives you the legal right to updation and read with Reg 56 the mode of implementation is the adoption of govt formula of updation because the updation of 4th Bipartite pensioners was done by adopting the 4th Pay Commission updation formula.
From 5th pay commission onwards the updation formula was vastly improved and so for us too, the formula has to be the improved formula of the govt.
PENSION UPDATION
1- Updating means only adding the present DA Component with the existing Basic Pension,the gross amount, So arrived considered as Updated Basic Pension. As was done for retirees of period from 1.1.1986 to 31.10.1987, which was Updated under Regulation No 35, Basic Pay at 332 CPI points level was brought to Basic Pay at 600 CPI Points level, by adding DA of 67 Slabs (600 less 332= 268÷ 4= 67).*
SO TO SAY -
100% DA NEUTRALIZATION AS ON 01 11 2017
PRECISELY THIS IS WHAT IBA HAS BEEN ADVOCATING THROUGH UFBU. UNFORTUNATELY, EVEN AIBRF ALSO ECHOING THE SAME IN TUNE WITH THEM (FOR THE REASONS BEST KNOWN TO THE LEADERSHIP)
PENSION REVISION ON RBI LINES:
The percentage increase in wages/ pension after DA merger for Pensioners of RBI, the wording never used Pension Updating, but it was invariably as word "Pension Revision".
THEREFORE, OUR FIGHT IS FOR PENSION REVISION ON RBI LINES AND NOT MERE UPDATION OF PENSION ALONE.
Ministry of Finance by their letter dated 5th March 2019 have granted approval for revision of pension to the pensioners in RBI with a notional increase of 10% in pension plus DA with wage agreements done in 2002, 2007 and 2012.
This results in overall increase in basic pension by factors as given below against each category of retirees.
A) for those retired prior to 1.11.2002 – BP factor 3.63
B) for those retired from 1.11.2002 to 31.10.2007-BP factor 2.44
C) for those retired from 1.11.2007 to 31.10.2012 -BP factor 1.76
https://drive.google.com/file/d/13fcMcamE_CFh_OspnplHFkm9N8zuhylj/view?usp=sharing
In the present context where DA is merged with Basic pension at 6352 points (XBPS), the multiplying factors are also got revised simultaneously as under :
Please go through the contents in the following link where detailed calculations with multiplying factors were worked out by AIBPARC in their letter dated 18 10 2020 addressed to our Hon'ble Finance Minister as also IBA with reference to merger of DA @ 6352 points covering all the stages of BP settlements upto X BP settlement.
https://drive.google.com/file/d/15LF8M6v0OD9tLqDtk1YD_neEkLvFIdHv/view?usp=sharing
Please choose the relevant multiplying factor to your existing Basic Pension to arrive at the revised Basic Pension that's all.
Multiplying factors:
1987 Batch 19.76
1992 Batch 9.36
1998 Batch 5.82
2002 Batch 4.39
2007 Batch 2.85
2012 Batch 1.62
Revision of pension on RBI lines....
7806.46-6352=1454points or1454/4=363.50slabs
SO, DEAR FRIENDS, PLEASE READ THE MINDS OF THE IBA & UFBU LEADERSHIP WHO ARE BENT UPON TO DECEIVE / DITCH THE RETIREES BY
"READING IN BETWEEN THE LINES " PENSION UPDATION AND REVISION.
PENSION UPDATION AS SUGGESTED BY IBA/UFBU/AIBRFetc.
MY OWN EXAMPLE:
Existing Basic Pension 7500/-
Add: (+)
DA merger at 6352 points
as on 01 11 2017 (Notional) (+) 17,066/-
---------------------
Revised Basic Pension 24,566/-
Add DA @ 19.8% say 20% 4,913/-
----------------------
29,479
Less My Gross pension
as on the date BP + DR
(Rs.7,500/- + Rs.20,564) 28,064
------------------------------------------------------------------------
NEGLIGIBLE NET INCREASE 1,415
=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=
========================================== PENSION REVISION ON RBI LINES WHICH WE ARE DEMANDING ==========================================
7,500 * 5.82 (Multiplying Factor) : 43,650/-
add:DA Relief @7806.46-6352 -
1454points or 1454/4=363.50slabs : 11,091/-
---------------------
GROSS PENSION (approx.) : 54,740/-
=============
SO WHAT WE DEMAND IS PENSION REVISION ON RBI LINES.
CERTAINLY NOT PENSION UPDATION AS BEING PROPAGATED BY THE MISCHIEVOUS IBA / UFBU
Several MPs, irrespective of party affiliation and including our former PM Sri Manmohan Singh ji....took up the matter
with the Government on several occasions
THANKS TO OUR COMMITTED RETIREE COMRADES FOR THEIR SUCCESSFUL EFFORTS WHO SECURED THE DIRECT APPOINTMENTS WITH HON'BLE PM & FM TO CONVINCE THEM TO RESPOND POSITIVELY TO OUR EARNEST APPEALS...
Ultimately Friends, Let us hope that all our collective efforts would ultimately culminate into success in the sole interest of justice and fair play …..WITH THE DEVINE BLESSINGS OF MATHA KANAKA DURGA ... ABODE इन्द्रकीलाद्रि - विजयवाद INDRAKEELADRI - VIJAYAWADA.
“|| यतो धर्मस्ततो जयः ||”IS THE ULTIMATE ......
With greetings and Regards ,
I remain - yours ,
దేవులపల్లి శ్రీనివాస మూర్తి /
Devulapalli Srinivasa Murti JANUARY 02, 2021 Ramavarappadu ( po)
Vijayawada 521108
9989318300