My Dear Friends,
PENSION REVISION ISSUE - POSITION AS ON DATE
I forward here the message sent by one of our super senior activists com. ER Iyyer garu, ventilating his anguish over the obstacles being created by our adverseries.
Infact, our super senior colleague com. Iyyer garu has rghtly ventilated the inherent bitter agony, on behalf of all the aggreieved.
Responding to the above, the reply given by com.Karununakaran & com. KV Acharya of AIBPARC enunciating their counter arguments putforth before the IBA during their recent meeting held at Mumbai at the specific directions of our Hon'ble FM.
I only wish to appraise our friends as to the latest happenings & the present situation.
Despite all the hurdels we encounter in the crusade, our fight to counter our ill-motivated adverseries would go on undettered, to reach our coveted goal ultimately.
The contents are self- explicit.
With Greetings & Regards.
దేవులపల్లి శ్రీనివాస ముర్తి
✴️QUOTE✴️
On Mon, Dec 5, 2022 at 3:28 PM er iyer <eriyer47@yahoo.co.in> wrote:
Respected Sir. Seeing various statments from AiBEA UFBU and retiress org it seems no chances of getting updation in my/ our life Time it seems Court verdict we cannot expect more. Any things may happen. That also we can't say when. ? Better to forget .Leave it to God. Nothing more to say.regads E.R.iyer
Sent from Yahoo Mail on Android
---------- Forwarded message ---------
From: karunsbc@gmail.com <karunsbc@gmail.com>
Date: Wed, Dec 7, 2022 at 9:42 PM
Subject: Re: Msg
To: er iyer <eriyer47@yahoo.co.in>
I do agree the going is tough when both UFBU and IBA&Govt are strangely discussing afresh the agreed issue of Pension updation that has become part of Pension Regulationswhen Reg. 35(1) was amended in 2002/2003. Even according to the actuary certified pension fund of all banks as on 31/3/2021 aggregating to about Rs.3.05 crore is adequate for the annual pension payout of about Rs.25000 crore with all future increases due to wage revision and DA. According to us this corpus itself is enough. Even assuming additional corpus is required, for the annual pension updation cost of Rs.2500 crore (after 100% DA neutrlization that has been agreed to be recommended to the govt yet again) the additional corpus (i.e. funding cost) required can only be about Rs. 30000 crore - This is a one time cost (NOT A RECURRING COST) for all banks together to take care of updation for the next 40 years or so which means this one time cost of Rs.30000 crore towards a 40 year long expenditure amounts to a mere Rs. 750 crore per year for all banks together i.e less than Rs.75 crore per year for each bank which is not a burden at all
IBA could not answer our arguments as above when we met them recently. But still they have no heart. We cannot throw up our hands as though it is disappointing, after all these struggles do not cost us anything. Atleast these struggles keep us preoccupied which is very much needed for retirees, most of them have nothing else to do. True it is frustrating and disappointing. Still it keeps us engaged and communicate with each other. We will continue our struggle with the hope of getting it in our lifetime.
Last but not the least, thanks for your continued support and feedback.
Take care
With regards
SBCK.
s.b.c.karunakaran
---------- Forwarded message ---------
From: Vedavyasa Acharya <acharyavedavyasa46@gmail.com>
Date: Wed, 7 Dec, 2022, 22:01
Subject: Re: Msg
To: karunakaran sbc <karunsbc@gmail.com>
Dear Karunakaran ,You have very properly explained about all the aspects of updation of Pension. I request you to give your views about the reply given Union Bank of india for the representation given by Shri M K Ravindran as per Kerala High Court Judgement .
With Warm Regards,
Acharya.
✴️UNQUOTE✴️