WHY AIBEA HAS BEEN AVERSE TO PENSION REVISION ON RBI PATTERN?
MY DEAR FRIENDS,
ON 26 03 1994 UFBU SIGNED THE FOLLOWING AGREEMENT WITH IBA :
✴️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"
✴️ UNQUOTE✴️
AS AGAINST THE ABOVE AGREED POSITION, AIBEA HAS BEEN VOCIFEROUSLY CAMPAINING FOR A FAR INFERIOR LOAD FACTOR AS AGAINST THE ONE APPLIED IN RBI PATTERN EVER SINCE THE IT'S RESTORATION IN RBI W.E.F MARCH, 2019.
✴️QUOTE:✴️
RE: UPDATION OF PENSION IN RBI AS PER GOVERNMENT GUIDELINES
REFERRING TO THE ABOVE, WAY BACK 20 04 2019 ITSELF I ILLUSTRATED WITH FACTS & FIGURES AS TO THE AIBEA' S GAME PLAN OF CONSPIRACY AGAINST THE RETIIREES IN GENERAL & PRE-2002 MUCH IN PARTICULAR
https://drive.google.com/file/d/1hNCjTcGdXyv3xd0aL7WEFxhHVCZ2EIgE/view?usp=drivesdk
WHAT ALL THE FACTS ILLUSTRATIVELY EXPLAINED IN MY ABOVE COMMUNICATION HAS ALSO BEEN REITERARATED BY OUR SENIOR LEARNED FRIEND COM. DEBASISH MUKHERJEE, BOB KOLKATTA IN HIS RECENT WRITEUP IN BANK PENSIONER BLOG WHICH IS ANNEXED FOR YOUR INFORMATION & KNOWKEDGE:
✴️ QUOTE✴️
Debasish Mukherjee
(Apr 22, 2019)
AIBEA DELIBERATELY CIRCULATED WITH FAKE R.B.I. PENSION UPDATION FORMULAE
PENSION UPDATION - ACTUAL RBI FORMULAE --WHICH HAS BEEN PURPOSELY MOCKED & A FAKE FORMULAE CIRCULATED
PER AIBEA CIRCULAIBEA DELIBERATELY CIRCULATED WITH FAKE R.B.I. PENSION UPDATION FORMULAE
Pension is revised or updated taking into account present eligible pension and hence Govt. of India while communicating their approval to RBI PENSIONERS, INDICATED A NOTIONAL INCREAE OF 10% ON BASIC PENSION + DEARNESS RELIEF.
According to RBI Formulae
Pensioners are categorised into 3 broad categories and assigned factors for arriving at the enhanced updated revised pension, viz: factor
*3.63 for pensioners retired between Nov 1997 and Oct 2002,
*factor 2.44 for pensioners retired between Nov2002
*and Oct 2007 and factor 1.76 for pensioners retired between Nov 2007 and Oct 2012 and No updation for Retirees retired after Nov 2012 in this formulae.
*For arriving at the updated pension, the present pension has to be multiplied by respective factors for the corresponding period.
For example, to arrive at the updated pension for Retirees retired up to Oct 2002, their present pension for example Rs 100/- per month has to be multiplied by factor 3.63 arriving at an amount of Rs 363/- per month, from the month of March 2019. along with DA calculated @ .10% per slab for 611 slabs resulting at 61.10% beyond Index level of 4440.
Likewise corresponding factors have to be multiplied with corresponding pension being drawn by Retirees falling under three categories as mentioned in the first para.
In the AIBIEA CIRCULAR signed by COM CHV, PENSION amount has been taken as 67 (being pension less commuted value of 33) instead of 100. Revision or updation is only for the Basic pension and not on the reduced pension after 33% commutation .
DA is also payable on the full amount of Basic pension which has been arrived at correctly. Moreover for Retirees retired up to Oct 2002, the Original Basic Pension might have been restored after the period of 15 years.
I wonder how the mistake has crept in, resulting in a paltry increase of 3% for Retirees between Nov 2007 to Oct 2012 , while the Govt. itself has assured a Notional increase of 10% on Basic Pension + Dearness Relief.
If the calculation is done correctly, the three categories of Retirees viz:
Retirees between Nov 1997 & Oct 2002,
Retirees between Nov 2002 and Oct 2007 and Retirees between Nov2007 and Oct 2012 will stand to benefit @ 42%,28% and 13% respectively,Pre Nov 2002 Retirees stand to gain more (42%) because of the anomaly of100% DA Neutralisation issue gets resolved though belatedly without the benefit of arrears, and fulfilling the Govt. indication of minimum 10% Notional increase on Basic Pension + DA,
I want to alert the AIBEA leaders particularly its General Secretary that don't try to fool the retirees by circulating a fake Formulae instead of actual Formulae implemented in R.B.I. as was proposed by the Govt.
The AIBEA in connivance with a section of IBA Officials have already done immense of harms to the Bank retirees particularly to the Pre Nov.2002 retirees who were only deprived from the benefit of 100%D.A.neutralisation amongst the retirees due to AIBEA's irresponsible demand to deny only to this segment of the retirees from this benefit.
It is surprising what the AIBEA,the largest and a militant trade Union in the Banking Industry will gain by circulating such fake circular not in conformity with the actual Formulae implemented in Pension Updation in R.B.I. It is possible that the present AIBEA leaders particularly its G.S. are in Hand & Gloves with the Officials of the IBA and have planned a sinister move to fool the retirees with their retrograde Formulae of Updation of Pension for the PSU Banks retirees that are detrimental to the interest of the retirees .
WE THE DEPRIVED RETIREES FIRMLY RESOLVE THAT WE WILL EXPOSE THE LEADERS OF THE AIBEA & THE UNSCRUPULOUS IBA OFFICIALS.
Debasish Mukherjee_
Mob. 9433016229
✴️UNQOTE✴️
INFERENCE
UFBU SUBMITTED CODs FOR XII BPS WHAT NEXT???
TIMELINE HISTORY OF BIPARTITE SETTLEMENTS
--------------------------------------------------------
BP FROM TO days
-----------------------------------------------
I I1JAN1966 19OCT1966 291
II 01JAN1970 12OCT1970 284
III 01NOV1978 01AUG1979 334
IV 01JUL1984 17AUG19 84 078
V 01NOV1987 10APR1989 526
VI 01NOV1992 14FEB1995 835
VII 01NOV1997 01JAN2000 791
VIII 01NOV2002 01JUN2005 943
IX 01NOV2007 07APR2010 908
X 01NOV2012 25MAY2015 935
XI 01NOV2017 31OCT2022 1825
XII 01NOV 2022 God Only Knows
===============================
MY DEAR FRIENDS ,
IN THE LAST CONCLUDED XI BIPARTITE SETTLEMENT THE ACHIVEMENT OF UFBU IS MERELY 2% LOAD ( _WITHOUT EVEN RECKONING THE SPECIAL ALLOWANCE COMPONENT FOR THE TERMINAL BENEFITS EFFECTIVE FROM VIII BPS )
THIS HAS ULTIMATELY RESULTED IN THE DRASTIC EROSION IN FIXING BASIC PENSION OVER THE SUCCESIVE BPS FROM THE ORIGINAL 50% OF THE LAST DRAWN BAISIC PAY TO AROUND 30% AS AT PRESENT..... A CONSPIRACY HATCHED BY UFBU IN CONNIEVENCE WITH IBA.
" ALL ALLOWANCES RECKONED FOR BASIC PAY ARE ENTITELD FOR TERMINAL BENEFITS"
THUS THE SETTLEMENT SIGNED BY UFBU WITH REGARD TO THE SPECIAL ALLOWANCE _"OUTSIDE THE PURVIEW OF PENSION COMPONENT"_ IS VERY MUCH AGAINST THE SPIRT OF THE ABOVE RULING PRONOUNCED BY THE SUPREME COURT IN IT'S LANDMARK JUDGEMENT DATED 23 02 2018 WHILE DISPOSING THE APPEALS FILED BY THE MANAGEMENTS IN 1616-1684 DA CASE WON BY US . ACCORDINGLY THE MANAGEMENTS HAD PAID ARREARS TOGETHER WITH INTEREST @ 10% RETROSPECTIVELY IN TERMS OF THE SAID JUDGEMENT BY REFIXING THE BASIC PENSION @ 50% OF THE LAST DRAWN BP FURTHER BY ADDING 5- YEAR NOTIONAL SERVICE TO ALL THE ELIGIBLE PENSIONERS.
THAT APART, WHEN COMPARED TO THE ACHIVEMENTS MADE BY RBI EMPLOYEES WITH 10% & LIC EMPLIYEES WITH 15% LOAD FACTORS RESPECTIVELY, AS AGAINST THE MEEK SURRENDER OF UFBU MERELY FOR 2% LOAD FACTOR .
https://drive.google.com/file/d/1EsoStFP7-SS_hMPbbjm8loFvC6RpBTNK/view?usp=drivesdk
THIS IS THE _"LITMUS TEST"_ AS TO THE QUALITY OF THE SO CALLED BARGAINING CAPACITY OF THE UFBU.
Let the ensuing DIWALI / దీపావళి /Deepavali bring the brightness of lighit in our Hearts 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
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