My Dear Friends,
THIS IS IN FURTHER CONTINUATION TO MY FOLLOWING POST UNDER THE CAPTION :
OUR CRUSADE FOR JUSTICE - PENSION REVISION CASE - CALENDAR OF EVENTS
NO STATUTORY HURDLES FOR PENSION REVISION ..
DECKS ALREADY CLEARED LONG BACK.....
https://drive.google.com/file/d/10zkOPPWNalsqCMIXq9R8ixuschnL2Deg/view?usp=drivesdk
✴️ *QUOTE*✴️
PENSION SCHEME AS PER THE SETTLEMENT DATED 29 10 1993 FOLLOWED BY THE MINUTES OF THE SMALL COMMITTEE THERETO DATED 26 03 1994 SIGNED BETWEEN IBA & THE WORKMEN UNIONS
"... The Draft circulated was mutually accepted by the parties.The following points were further discussed and accepted_ :-
1.....
�2. Formula for Up-dating pension should be on the lines of the same given in the Reserve Bank Pension Scheme. Any Change therein should be introduced only after mutual agreement"
https://drive.google.com/file/d/10zkOPPWNalsqCMIXq9R8ixuschnL2Deg/view?usp=drivesdk
✴️UNQUOTE✴️
Pension Updation - Regulation 35.1 of the Bank (Employees’) Pension Regulations, 1995- Latest Amendment
https://docs.google.com/document/d/1lIwRTCWLji2-xzj8HM5xO0rszvKlqg1K/edit?usp=drivesdk&ouid=115468566243929396633&rtpof=true&sd=true
--------------------------------
With The latest amendment already 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, & so did way back in the year 2003 itself.
Basing on the above agreement already reached by IBA & UFBU way back 26 03 1994 itself, it's quite evident & beyond any doubt that pension revision / updation should invariably be on RBI lines alone, as it already bears the stamp of approval by the Parliament for the reasons stated supra.
FURTHER, I ALSO ANNEX AN Email COMMUNICATION DATED BY AIBPARC DATED 20 07 2022 ADDRESSED TO THE IBA BESIDES ALL THE CONSTITUENTS OF UFBU.
ONLY THE RELEVANT PORTIONS CONCERING 100% DA ISSUE OF PRE-2002 RETIREES & PENSION REVISION ARE ANNEXED.
THIS ASSUMES LOT OF IMPORTANCE IN THE WAKE OF THE PENDING MOTION HEARING IN COM. LATE M C SINGLA'S CASE AT THE SUPREME COURT ON 05 08 2022
MY CONGRATULATIONS FOR AIBPARC'S LEAD & INITIATIVE IN THIS REGARD.
CONTENTS ARE SELF-EXPLICIT.
THIS ASSUMES LOT OF IMPORTANCE IN THE WAKE OF THE PENDING MOTION HEARING IN COM. LATE M C SINGLA'S CASE AT THE SUPREME COURT POSTED TO 05 08 2022 AS OF NOW.
With the Divine blessings of Matha Kanaka Durga abode इन्द्रकीलाद्रि - विजयवाद Indrakeeladri- Vijayawada, we eagerly look forward to bring solace to the grief-stricken hearts of the bank retirees in general and the SUPER SENIORS IN PARTICULAR
*सत्यमेवजयते*
|| *यतो धर्मस्ततो जयः*||
IS THE ULTIMATE
D S MURTI
HYD: 23 07 2022
����️���
✴️ *QUOTE* ✴️ :
AIBPARC
To
All The Negotiating Parties---IBA and Negotiating Unions & Associations
All About a Bank Pensioner - An honest attempt to Awaken the Conscience of the Negotiating Parties .
https://drive.google.com/file/d/11jx4DeAssVet9cJNB-jtqhtdisPXfikN/view?usp=drivesdk
".......
2 . 100 PERCENT DA COMPENSATION TO PRE-2002RETIREES:
Let not the issue of Pre-November 2002 Retirees be confused by coining a new phrase of "some mprovements in Pension". They are legally entitled both for Uniform DA Compensation as well as Periodical Pension Updation with every Wage settlement.
Uniform DA Compensation was denied to them unlawfully ignoring the provisions of both the Pension Settlement as well as 8th Bi-partite Settlement/ Joint note.
Hon'ble Supreme Court never disowned the principle of Nakara Judgment where it stated very clearly that Pensioners are a homogeneous class by themselves and that there can not be an Artificial classification with in that homogeneous group and more importantly also held that Pension is not a bounty but a Deferred Wage.
The Hon'ble Court unfortunately got into the arithmetic’s of the Ratios of the DA Slabs between Pre-November 2002 Retirees vis a vis Post 2002 Retirees.It also went into the Wage Load factor whereas D A component never was a component of the Cost Sheet of any Settlement as future D A is subject to Price Index fluctuations and hence both are not Predictable and not determinable too at the time of Wage settlement* . *It was pertinent to note that the Hon'ble Bench did pose a question during the arguments that it was not a fact that Inflation hit equally harsh every one irrespective of their dates of retirement . The judgement also stated that Cost is not material to the Issue. Unfortunately, the Judgment did not go by the Actual Prayers of the Petitioners but took solace by supposedly erroneously concluding that Pre-November 2002 Retirees alsowould be fairly compensated in a phased manner going by the Ratios of D A Slabs.
Individual Petitioners with limited resources and vis-a-vis the Banks with enormous resources which are generated by their own Employees and Officers use those resources against their own Employees and Officers with contempt and impunity.
It is thus a legal battle between two Unequals.
It was agreed by both the Negotiating Parties to the Settlement in 2015 Record Note that as the matter was Sub judice, the Issue of DA to Pre-November 2002 Retirees could not be considered. Matter Sub judice is always an alibi to deny the rightful claims of the Bank Pensioners ignoring the much pronounced and emphasized Senior Citizens Policy of the Government.
Many of the Settlements were and are challenged in the past by the disagreeing Individuals and Organization but those Settlements used to be always implemented for the larger good of the Employees and Officers despite such Settlements being “Matter Sub-judice".
Then why this exception in respect of the uniform rate of DA to Pre- -November 2002 Retirees only in the 2015 Record Note and now taking advantage of Court Judgement denying again the same to Pre-November 2002 Retirees? When Uniform DA is givento Government Pensioners and RBI Pensioners why only Bank Pensioners should be condemned to this Deprivation?
The number of such Retirees are Halved due to Deaths and those surviving are in the age group between 80 and 95 except a few Special VRS cases. In fact, by wrongfully denying the Uniform DA to Pre-November 2002 Retirees from 2005 consequent to the 8th Bi-partite Settlement/Joint note, the DA Arrears due to Pre-November 2002 Retirees so accumulated is huge. Everyone should search their conscience to find within themselves whether they have been considerate and fair to their own Ex colleagues, quite a few of whom should be in the age group of their Parents.
Please Awaken your Conscience and grant the Uniform DA to the most disadvantaged Pensioners who are subjected to Double Jeopardy by not getting Uniform DA Compensation and Pension Updation as well. Any further delay in rendering justice to them on this count will only mean that Justice Delayed is Justice Denied. Justice is already delayed too far. Now it is time to atone and get their Blessings.
3 . PENSION UPDATION:
We recently came across a Video Post in the social media where one of the Leaders of the Negotiating Team of Unions and Associations loudly announced his ignorance about the clear Statutory Provision in the Pension Regulations for Updation.
Ridiculing the existence of Regulation 35 (1) duly amended in 2003 clearly speaks of Ignorance and arrogance openly displayed. We QUOTE :" _*Basic Pension and Additional Pension wherever applicable shall be updated as per Formulae in Appendix 1 " UNQUOTE .
This is a huge improvement over the 1995 Pension Regulation which only spoke about Updation for those who retired between 1st January 1986 and 31st October 1987.
The year 2003 amendment to Regulation 35 (1) is comprehensive and conclusive clearly directing the Banks to compute and notify the formulae at the time of each periodical wage revision being done for Government Pensioners and also for RBI Pensioners. The Government also improved the Pension Revision Formula with every Pay Commission Recommendation in line with the Hon'ble Supreme Court Judgement that Wage Revision and Pension Revision are inseparable and the Basic Pension should not be less than Fifty percent of the corresponding Pay Scales in the respective grade one retired. Regulation 56 directs a reference to Government Pension Rules and Schemes in case of any doubt in the Implementation of Pension Scheme in the Banks.
The above amendment has gone through the process of consultation with RBI as per the Banking Companies Acquisition & Transfer of Undertakings) Act, duly passed by Bank Boards, with the previous sanction of Government of India and published in the Official Gazette of Government of India. As per the Pension Regulations, shortfall if any as per Actuarial Estimates should be provided to the charge of Profit and Loss Account of the Banks like Salary and provisions for NPAs.
Rather, provisions for Salary and Pensions (a Deferred Wage) should take precedence over Regulator's (RBI) guidelines regarding provisions for NPAs.
Moreover, pensions have not come free for us. It has come in lieu of CPF surrendered by the Pensioners along with interest at the time of implementation of the Pension Scheme in the banks and surrender of CPF by those in service as is the case with Government and RBI Pensioners
If the Negotiating Parties have doubt in the Provisions of Bank Employees Pension Regulations and refuse to invoke the provisions of Regulation 56, then we are constrained to suspect the very Credibility of the very process of the ongoing Negotiations in respect of Residual Issues where Pension Updation is now shown as second item for Negotiation.
If both the parties are so keen to resolve the Pension Updation Issue, there is no need to take the Negotiation Route about this issue as it is already a settled issue by way of a clear provision having been made by amending the Pension Regulation 35(1) in March 2003.
This amendment has made the updation of pension a certainty, open-ended and universal in nature. The process of making the pension regulations including the amendments was the result of Pension Settlement between Officers Organisations and Unions on the one hand and IBA on the other and Sub Committee meetings, discussions and minutes thereafter.
Accordingly, Regulations were framed, Updation of Pension was given to Retirees who retired between 1st January 1986 and 31st October 1987 by adopting the formula which then existed for Government Pensioners.
To make the same Universally applicable, the Government headed by Statesman, Visionary Hon'ble Prime Minister Late Atal Bihari Vajpayee ji amended the Regulation in 2003 so that Pension Updation could be done Periodically along with Wage Revisions for all.
The decision should be to implement the Updation Regulation 35 (1) as done in respect of all other Regulations. Though some of those Regulations are detrimental to the interest of Pensioners like the Regulations bringing Pensioners under Disciplinary Proceedings even after Retirement despite the judgement of the Hon'ble Supreme Court in the case of UCO Bank to the contrary.
But mysteriously Only Regulation 35(1) on Updation is not yet implemented in line with Government and RBI Formula. When Late Shri R N Godbole, General Secretary, AIBOC sought some improvements immediately after signing the Pension Settlement, the IBA categorically wrote back to him stating that Pension in Banking Industry was on the lines of Government and RBI Pension Scheme and hence no improvement was possible (Copy of letter enclosed). Having stated so, why now Updation is denied when regularly Pension to Government Pensioners is updated with improvements in the Formula with every PayCommission Recommendation and to RBI Pensioners the Updation is restored from 1st March 2019 by notifying theupdation factor for three wage revisions which is known as RBI Formula.
We are also enclosing the Letter of Shri J D Sharma, Vice President, AIBPARC to the Petitions Committee of Parliament (Rajya Sabha) which will make it abundantly clear that Pension Updation is Our Vested Legal Right and Our Legal Entitlement.
So, what is the Negotiation about now?
Is it to rewrite the Pension Regulation? Or is it to Undo Pension Updation Regulation 35 (1) amended in 2003 which has Periodical Pension Revision as it's objects and reasons? Or fragment the Bank Retirees into Very Old, Old, Somewhat Old and So on? Is it so in the Government or RBI?
We are unable to comprehend this analogy/questionable strategy between the negotiating parties!! Instead of Negotiation, what should be pointedly asked now is as to what has happened to the Report of the IBA's Internal Committee appointed more than a year back and what prevented the IBA to submit the report to Hon'ble Supreme Court within the stipulated time by the Hon'ble Supreme Court which is already over in April 2022.
The parties to the Appeal should have got the copies of the Report by now.
Instead IBA is taking advantage of the adjournments to not to submit the report. Or, alternately both of you should now ensure granting of Updation and make the judicial proceedings pending in the Hon'ble Supreme Court infructuous.
Ironically the Negotiating Parties are time and again harping on Actuaries Estimations citing astronomical figures for provisioning and nobody wants to contest the Actuaries figure which is arrived at with unacceptable assumptions about life span of the Retirees as 82 and not at all taking into account the huge surplus available in the Pension Funds even after meeting the Updation Cost. When Second Option was conceded in 2010, the Actuaries showed the need for huge Provisions but when it was contested by the Associations and Unions it was drastically reduced and Second option was considered. Then Why now this deafening silence and meek acceptance of Actuaries figure by the Negotiating Parties?
Is it to frustrate the rightful aspirations of the Retirees by fair or foul means?
There could not have been a more favourable environment now than ever for implementation of Regulation 35 (1) regarding Pension Updation when no less than the Hon'ble Finance Minister Smt Nirmala Sitharaman ji openly exhorted the. M Ds and CEOs of Banks in the AGM of IBA in 2020 to consider the issues of Bank Pensioners and treat them as members of the same Family as being done in the Military.
Please don't fritter away this opportunity.
Instead of trying to find ways and means as to what not to do, please try to ensure Justice as provided in the Pension Regulations 35(1).
UNQUOTE :
� � � � � �
✴️POST SCRIPT (01 09 2022)✴️
IBA - UFBU NEXUS IS CONSPIRATING TO DENY PENSION REVISION ON RBI LINES ON THE PRETEXT OF COST FACTOR - A BASELESS ELIBI WHICH IS FAR FORM THE REALITY
THERE WAS IN FACT, NO RECORDED MINUTES FOR THE RECENTLY HELD CONCELIATION MEETING CONVENED UNDER THE ID ACT ON 01 07 2022 IN THE PRESENCE OF CLC WHERE UFBU DECLARED CALLING OFF THE PROPOSED STRIKE RESPONDING TO IBA'S GLARING & INDIFFERENT RESPONSE EXTENDING INVITATION TO UFBU FOR MERELY "A LUNCH MEET"
WHY UFBU IS AFFRAID OF RELEASING THE SIGNED MINUTES OF THE PROCEEDINGS OF THE TRIPARTITE CONCILIATION MEETING IN THE PRESENCE OF THE CLC, WHICH IS AN IMPORTANT STATUTARY FORMALITY UNDER THE ID ACT???
A MILLION DOLLAR QUESTION !!!
( A meeting between IBA & UFBU is likely to take place at Mumbai on 12 09 2022 In the backdrop of the pending case on Pension Revision where IBA is under legal obligation to submit it's report on 16 09 2022 as per the Apex Court Order dated 20 01 2022)
UFBU IS PLAYING HAND IN GLOVE WITH IBA ONLY TO DENY PENSION REVISION ON RBI LINES WHICH WAS ONE OF THE AGREED ISSUES AS PER ITEM # 2 OF THEIR OWN SIGNED MINUTES DATED
26 03 1994 WHICH SAYS..
✴️ *QUOTE* ✴️
"2. Formula for Up-dating pension should be on the lines of the same given in the Reserve Bank Pension Scheme. Any Change therein should be introduced only after mutual agreement"
✴️ UNQUOTE✴️
D S Murti
Hyderabad
01 09 2022