My dear Friends ,
At the outset, I congratulate and complement Sri Biswanath Bandyopadhyay garu, Retd DGM (personnel & HR), Dena Bank , HO- Mumbai, for his thought-provoking observations with rhyme, rythem & logic which is annexed here:
Also For your instant verification, I have inserted the relavent link for the Supreme Court verdict on 1616 -1684 DA Issue dated 13 02 2018 as referred to by Sri Bandopadhyaya garu as follows:
✴️QUOTE✴️
A BIG TREACHERY AGAINST PRE-2002 RETIREES ....
By Mr. Bishwanadh Bandopadhyaya
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The Joint Note for the 7th BPS was signed by the Officers’ Associations on 14.12.1999.
But earlier to it , during the discussion held on 13.10.1999 with workmen unions and on 14.10.1999 with the Officers’ Associations, there was a stalement due to IBA’s approach towards pension issue .
IBA informed in the meeting that there was a deficit in Pension Fund for ₹3700 crore.
This claim of IBA should have been challenged by the leaders of UFBU because as per Pension Regulation, banks must get an Actuarial Valuation of pension fund as on 31st March every year and if there is any shortfall then that amount is to be contributed by the bank.
Hence, how there could be a deficit of ₹3700 crore ?
But regrettably , in the next meeting on 11.11.1999, a consensus was reached between IBA and UFBU to the detriment of the retirees as under:-
� 1). For the purpose of pension and gratuity , indexation would be made at 1616 points,
� 2). Pay structure will be constructed on the pay scales at 1684 point index with corresponding benefits on Provident Fund,
� 3). Cost of Pension : cost of pension would be shared . Officers would bear 18.25% and IBA ( means banks) will bear 8.25%.
� 4). For the purpose of Pension and Gratuity, indexation would be made at 1616 points.
Point No.6 of the Joint Note said, ” Pay” for the purpose of pension shall be aggregate of pre-revised pay and Dearness Allowance thereon at CPI 1616 points
This was the worst agreement having devastating effect on pensioners, of whom major portion was VRS optees.
When the pay scale was revised at1684 point merger, then how come that basic pension would be determined on pre- revised basic I.e, at 1616 point ?
How the leaders accepted it ?
This agreement deprived the retirees under 7th BPS in two ways. First was, as per Pension Regulation, DA was also to be reckoned for fixation of basic pension. But as per 7th BPS, definition of Pay was revised by excluding DA for calculation basic pension.
Secondly, when the basic salary was revised at 1684 point merger, but where was logic that for fixation of basic pension on the basis of pre-revised basic pay?
What a treachery against the retirees of 7 th BPS !
However, when these leaders and IBA could realise the mistake , they silently entered into another agreement.
The Joint Note thus signed , stated : -
“ With effect from 1st May, 2005, the pension of officers who retired or died while in service during the period of 1st April, 1998 to 31st October,2002, will be re- fixed based on the definition of “pay” as defined in clause 5 of the Joint Note dt 14.12.1999. No arrears of pension and commuted value of pension will be payable on account of such re- fixing of pension.”
The definition of Pay was defined in Clause No.6 of the Joint Note dated 2nd June, 2005.
Here again, both UFBU and IBA conspired against retirees by denying the arrears .
However, this conspiracy was nullified by the Supreme Court in the case , G. Palani & ors Vs union of India and ors. The SC directed to pay the arrears with 9% interest.
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https://drive.google.com/file/d/1U9lHIOHvK9_OO2R6Iiwt8UHzxPV0K2eG/view?usp=drivesdk
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Another blatant example of conspiracy against pre-2002 retirees was introduction of tapering DA.
This was also agreed to by UFBU. And now asking IBA to agree for100% DA to these hapless retirees but actually had no face to challenge it because they had agreed earlier.
This tapering DA was withdrawn by RBI in 2005. In LIC such tapering DA was there but their union filed a case in Delhi High Court where the High Court ordered in 2017 for cancellation of such discriminatory DA formula.
Good thing is that LIC management did not go for challenging this order and tapering DA stands cancelled there also.
Only for PSB retirees it is continuing , shamelessly !
This is the history of deprecation of pre-2002 retirees.
-Biswanath Bandyopadhyay
✴️UNQUOTE✴️
AS REGARDS THE PRESENT POSITION CONCERNING PENSION UPDATION - PLEASE LISTEN TO THE FOLLOWING AUDIO CONVERSATION BETWEEN MR.DS MURTI & MR.KRISHNA MOHAN OF SBI, ABOUT THE LATEST POSITIVE DEVELOPMENTS ON PENSION UPDATION
AN EARNEST APPEAL HAS THEREFORE BEEN MADE TO THE HON'BLE PM / FM HIGHLIGHTING THE IMPENDING URGENCY TO CONSTITUTE BANKING PAY COMMISSION SUBSTITUTING THE EXISING REDUNDENT BIPARTITE SYSTEM.
SUBJECT :
*"PERPETRATED FRAUDS COMMITTED BY DELIBERATELY OVER RIDING THE STATUTORY PROVISIONS THAT COME UNDER THE SUBORDINATE LEGISLATION OF THE PARLIAMENT REGULATING THE PENSION SCHEME, BY THE BANK MANAGEMENTS REPRESENTED BY INDIAN BANKS ASSOCIATION (IBA) & THE BANK UNIONS REPRESENTED BY UFBU RESULTED IN THE DENIAL OF LEGITIMATE COMPENSATION AGAINST THE MOUNTING INFLATION TO THE RETIRED BANK PERSONNEL OF PRE-2002 & PERIODICAL REVISION OF PENSION:....."
MY HEARTY CONGRATULATIONS TO ALL THOSE 30,232 COMMITTED COMRADES WHO HAVE ALREADY SIGNED THIS PETITION AS ON DATE, AND APPEAL OTHERS TO JOIN YOUR HANDS ALSO TO FURTHER RAISE OUR VOICE VEHIMENTLY COLLECTIVELY & EFFECTIVELY.
With the Divine blessings of Matha Kanaka Durga abode इन्द्रकीलाद्रि - विजयवाद Indrakeeladri- Vijayawada, let us hope 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.
ᴡɪᴛʜ ɢʀᴇᴇᴛɪɴɢꜱ & ʀᴇɢᴀʀᴅꜱ,
||यतो धर्मस्ततो जयः||
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Hyderabad :: 21 07 2023