✴️QUOTE✴️
SBI. Hydearbad .
N R రాఘవేంద్ర రావు* (DGM Retd. ):
04 10 2022
How can cost factor stand in the way of Pension Updation?
After a meeting with IBA on 23.9.22, AIBEA has stated in its Circular dated 29.9.22 that they have asked IBA to work out a Road Map for Pension Updation, and that the case of pre-2002 retirees may be taken up first to begin with. AIBEA has also asked IBA to work out “additional cost each settlementwise so that a negotiated decision can be taken”.
We thank the AIBEA for supporting at least the pre-2002 retirees rightaway. However, as for AIBEA’s stand on the principle of Updation of Pension for all pensioners, the following facts must be understood by all:
Where is the question of working out the cost and a negotiated decision for Pension Updation? Pension Updation is an entitlement of Pensioners under the existing laws and Court Judgements. It is not a subject for negotiated decision between IBA and UFBU. Just because there is no specific separate provision in the Pension Regulations for Updation with every salary revision, both the Working Staff Unions and the IBA have been exploiting Bank Pensioners. Though not specifically mentioned, there are provisions in the Pension Regulations for Pension Updation. Central Government employees, RBI employees, etc., have got Pension Updation in spite of the fact that the Pension Rules in their cases too do not contain a specific clause for updation. Pension Updation along with every upward salary revision is a settled law and a matter of social justice and commonsense.
For that matter, where is the legal provision that salaries must be revised for the working employees from time to time? There are only provisions in the ID Act and Service rules for Minimum Wages and increase in Dearness Allowance on the basis of increase in Cost of Living Indices from time to time. If this is so, why are salaries of working staff revised from time to time? For the same reason and on the same analogy as salaries are revised, pensions must also be revised and increased with every salary revision from time to time as it a settled law that pension is an “extended wage”. This is common sense. Only because Bank Managements and Working Staff Unions want to avoid paying any thing to pensioners, they misinterprit the law by twisting and turning the technical jorgans against Bank pensioners.
In the past, Bank retirees had forgotton all about Pension Updation because they were basking in the sunshine of Retirement Benefits received by them in one lumpsum at the time of retirement and they treated this as something like a windfall or a lottery prize won in their life. Many retirees spent all this money for their family expenses and for their children’s marriages or education, etc while many others were busy engaged in efforts to safeguard this wealth and investing it in different avenues to earn more money. In the process, the retirees forgot all about their entitlement for periodical revision in pension and kept silence by reconciling to their fate. The Bank Pensioners have brought today’s situation on their heads by their own lack of vigilance and ignorence. The Bank Managements and the Working Staff Unions have taken advantage of this weakness and the failure on the part of retirees, and cleverly exploited the Bank Pensioners.
We do not understand how and why the cost factor should come into play for Pension Updation at all. The cost factor applies for revision of salaries which should also take into account the cost, if any, due to Pension updation at the time of every salary revision. Cost factor is not the criterion for Pension Updation. Pension Updation is pensioners’ entitlement. It is for the Bank Managements to bear this cost, (if any, due to shortfall in the earnings from Pension Funds) from the Banks’ Operating Profits. Making provisions for such shortfall takes prcedence over any other provisions to be deducted from Operating Profits and before distributing Dividends to Government. The Pension Regulations do provide for making such provision. If Banks did not make such provisions in the past, it is their fault. The Pension Regulations have the strength of Law. The only question that remains is that the cost of Pension Updation has to be amortized over several future years if the Banks can not absorb the cost in one go.This is not a matter for negotiation between UFBU and IBA. It is the Banks’ job. It is the duty of Banks to implement Pension Updation. It is the duty of Working staff Unions to graciously extend co-operation to the former colleagues of the working staff, and stop exploiting Pensioners and continue to talk about “negotiated decision”.
Individual pensioner-activists did huge work during the past two years to achieve Pension Updation. They are all disappointed, frustrated and tired. It is not easy for them to sustain their fight any more with the same level of tempo. It is now for the Pensioners’ Organisations to rise up to the occasion and gear themselves up to carry on the fight now to protect Bank Pensioners’ entitlements and interests. The earlier the Pensioners’ Organisations realise their responsibily and go out to make stronger efforts to bring pressure on the Working Staff Unions and the IBA to stop the exploitation of Pensioners, it is better.
IF THE PENSIONERS' ORGANISATIONS DO NOT WAKE UP AND ACT, THE EXPLOITATION OF BANK PENSIONERS BY THE MANAGEMENTS AND THE WORKING STAFF UNIONS SUCH AS AIBEA WILL CONTUNUE.
The Pensioners’ ire will turn ugly against the office beares of the Pensioners’ organisations.
N Raghavendra Rao.
04.10.2022
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In the above backdrop, Click the following audio link for more details
https://drive.google.com/file/d/1-hwjeDpzhcDarYxQjuNfQcpX6wUVZML3/view?usp=drivesdk
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PHASED UP-GRADATION FOR BANK PENSIONERS
Opinion of a Retired Executive Director of LIC on pension revision in banks.
C H Mahadevan
( Forwarded as received_)
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The demand made by the Bank Employees from the IBA in the meeting held yesterday for pension up-gradation in a phased manner according to the BPS is shocking to say the least.
I wonder whether the Banks' Pensioner Fraternity as a whole is agreeable to the suggestion.
Such up-gradation in a phased manner will not only be unconstitutional, but also unfair for pensioners at large.
Mortality cuts across generations of pensioners.
Pension Regulations 1995 of the various Banks cover all employees retired after
01 01 1986 together including those who automatically got covered after joining the Banks after the date of Notification in 1995 upto 31 03 2010
FIRST I DOUBT WHETHER CENTRAL GOVERNMENT WILL AGREE TO PROVIDE UPGRADATION IN A PHASED MANNER FOR DIFFERENT GENERATIONS OF RETIREES.
If it does, it will create separate classes of pensioners under the same Pension Scheme and will constitute discrimination amounting to violation of Article 14 of the Constitution as per the ratio of the Supreme Court judgment in D S Nakara case.
If such a faulty scheme of up-gradation is put in place, not only the intended purpose will not be served, but spate of litigations can be expected immediately after such settlement.
The more reasonable option is to provide up-gradation in whatever manner it is agreed to in bipartite agreement in a manner that will uniformly apply to all generations of pensioners without discrimination.
Cost of up-gradation is no doubt a critical factor but as happened in the case of OMOP for LIC employees, the contribution towards additional liability has to be amortized over a period of 5 years or any longer period as would be permissible under Accounting Standards.
Phased up-gradation of pension is not only unconstitutional but also blatantly unfair to pensioners who will be left out of such dispensation. Selective up-gradation is nothing but betrayal of majority of pensioners.
All the Bank Employees' Associations and Bank Pensioners' representative bodies need to seriously ponder over the matter.
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AIBPARC MET THE HON'BLE FINANCE MINISTER ON 04 10 2022
To:
All members of the Governing Council of AIBPARC & Constituents of CBPRO:
Comrades,
We have much pleasure to convey that the leaders of AIBPARC had a meaningful meeting today (4th October, 2022) with the Hon'ble Union Finance Minister at her office on several issues affecting the interest of Retirees which include, inter alia, Pension updation,100% DA neutralization to pre November 2002 Retirees, Medical Insurance , Consultative status for Retirees organizations.
We also submitted a written memorandum on different issues affecting the interest of Retirees.
Circular follows.
Regards,
K.V.Acharya & Suprita Sarkar
✴️UNQUOTE✴️
With the Divine blessings of Matha Kanaka Durga abode इन्द्रकीलाद्रि - विजयवाद Indrakeeladri- Vijayawada, to bring solace to the grief-stricken hearts of the bank retirees in general and the SUPER SENIORS IN PARTICULAR only in the sole interest of justice & fair play.
||यतो धर्मस्ततो जयः||
I remain – Yours ,
దేవులపల్లి శ్రీనివాస మూర్తి
DEVULAPALLI SRINIVASA MURTI Flat # 102 "Sai Kunj " Lakshminarasimhapuram Colony ,Hasthinapuram North - Hydearbad
Cell :9989318300,
04 10 2022