MY DEAR FRIENDS,
PENSION REVISION - OUR LONG JOURNEY IN PURSUIT OF JUSTICE - PART IV
(PENSION REVISION - OUR LONG JOURNEY IN PURSUIT OF JUSTICE - PART III )
KIND REFERENCE IS INVITED TO MY ABOVE COMMUNICATION WHEREIN I FURNISHED THE DETAILS OF THE MEETING THAT WAS HELD BETWEEN THE IBA COMMITTEE WITH THE WORKMEN UNIONS/BKSM (EXCEPT BEFI) ON THURSDAY, 22nd.JULY, 2021 AT 11;30 A.M THROUGH VIDEO CONFERENCE.
PRECEDING TO THE ABOVE JOINT MEETING, A QUESTION (#216) WAS RAISED IN THE PARLIAMENT (RAJYA SABHA) CONCERNING THE PENSION REVISION FOR RETIRED BANK EMPLOYEES, AND THE SAME WAS ANSWERED ON THE FLOOR OF THE HOUSE BY THE HON'BLE MINISTER OF FINANCE (STATE) ON 20th. JULY, 2021 AS PER THE DETAILS FURNISHED HERE UNDER:
https://drive.google.com/file/d/1ded_531w_tG46HAsNiAb7rxhYUqRcgV4/view?usp=drivesdk
QUOTE:
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Revision of Pension of retired bank employees
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF FINANCIAL SERVICES
RAJYA SABHA
UNSTARRED QUESTION NO. 216
TO BE ANSWERED ON 20th JULY, 2021(TUESDAY)/ ASHADHA 29, 1943(SAKA)
216. DR.L.HANUMANTHAIAH:
Will the Minister of FINANCE be pleased to state:
(a) Whether it is a fact that the retired bank employees are seeking revision and improvement in their basic pensions;
(b) If so, the details thereof; and
c) the reasons for not revising pension since last three decades?
ANSWER
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (DR. BHAGWAT KARAD)
(a) to (c): As pension of retired employees of commercial establishments has to be financed by such establishments out of their commercially generated revenues, pension for retired employees of nationalised banks was introduced as a funded scheme on the basis of consensus arrived at between unions/associations of bank employees and the Indian Banks’ Association (IBA), which negotiated on behalf of the nationalised banks. The Boards of the respective nationalised bank accordingly made Employees’ Pension Regulations in exercise of their powers under section 19 of the Banking Companies (Acquisition and Transfer of Undertakings) Act 1970/1980. Pension in nationalised banks is, thus, payable as per the agreement arrived between bank unions/associations and the banks, and the bank Boards concerned have accordingly made regulations governing the same. While such regulations do not provide for revision of basic pension, they provide for six monthly revision in dearness relief on the basis of rise in the All India Consumer Price Index for Industrial Workers.
Retired nationalised banks employees have sought revision and improvement in pension from time to time. In view of pension being a funded scheme introduced on the basis of consensus arrived at between employee unions/associations and IBA,
requests for revision and improvement in pension are considered by the Government after taking into account the views or any proposal or recommendations of IBA in this regard.
Earlier this year, IBA has recommended that family pension be improved to 30% for all employees without any cap, and the said recommendation is under consideration of the Government.
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UNQUOTE:
IN COMPLIANCE TO THE ABOVE STATEMENT MADE BY THE HON'BLE MINISTER OF STATE ON 20 JULY, 2021......
THE IBA COMMITTEE HAD CONVENENED A ,MEETING WITH ALL THE CONSTITUENTS OF WORKING UNIONS , & RECORDED THEIR VIEWS ON 22 JULY, 2021 .
IT IS WELL WITHIN THE KNOWLEDGE OF EVERYBODY, THE IBA-MOF/DFS COMMITTEE SEEM TO HAVE ALREADY FINALIZED THE REPORT CONCERING THE PENSION REVISION ON 12 JULY, 2021 ITSELF .& THE SAME IS SUPPOSED TO BE PLACED BEFORE THE GOVERNMENT ENCLOSING THEREWITH THE MINUTES OF THE MEETING HELD ON 22 JULY 2021 BETWEEN THE IBA & WORKING UNIONS.
THUS , THE STATEMENT MADE BY THE HON'BLE MINISTER ON 20 JULY, 2021 NOW STANDS COMPLIED WITH TO PAVE A CLEAR WAY FOR THE GOVERNMENT TO ANNOUNCE PENSION REVISION FOR THE LAMENTING RETIREES - IT'S AS SIMPLE AS THAT.
CONSIDERING THE ABOVE, I AM VERY HAPPY TO SHARE WITH YOU ALL THAT THE TURN OF EVENTS OF LATE , INDICATE THAT , THINGS ARE MOVING TOWARDS POSITIVE DIRECTION AT AN ACCELERATED VELOCITY & AT ANY TIME WE WILL SOON HEAR THE GOOD NEWS TO BRING SOLACE TO THE LAMENTING RETIREE FRATERNITY WITH THE DIVINE BLESSINGS OF MATHA KANAKA DURGA ... ABODE इन्द्रकीलाद्रि विजयवाद INDRAKEELADRI - VIJAYAWADA
CONTENTS ARE SELF EXPLICIT
“|| यतो धर्मस्ततो जयः ||” IS THE ULTIMATE......
దేవులపల్లి శ్రీనివాస మూర్తి /DEVULAPALLI SRINIVASA MURTI
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ACKNOWLEDGMENTS ===================
I CONGRATULATE & THANKFULLY ACKNOWLEDGE ALL MY FRIENDS ( 20,088 ) WHO REGISTERED THEIR FEEDBACK TO ENABLE THE AUTHORITIES CONCERNED TO TAKE NOTE OF THE SAME AND TO ACT SWIFTLY TO UNDO THE DAMAGE CAUSED TO THE INNOCENT RETIREES FOR OVER THREE DECADES !!!
LIST OF THE SIGNATORIES AS ON 20 JUNE 2021 TO MY PETITION IS ANNEXED IN THE FOLLOWING LINK:
https://docs.google.com/spreadsheets/d/1O14vzjnKqy1RNnpSGD8k7s0ZqARqzYM5KXtb2d8tTSI/edit?usp=sharing
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d s murti