EFFECT OF MERGER OF DA AT CPI 8088 POINTS WITH THE CURRENT BASIC PENSION & ITS IMPACT
MY DEAR FRIENDS,
PENSION UPDATION - "SANS"(sænz- sɑ̃) RBI PATTERN???(WITHOUT RBI PATTERN !?!)
ONE THING IS FOR SURE & CERTAIN.... TO DENY PENSION UPDATION ON RBI PATTERN, IBA NECESSARILY NEED UFBU'S CO-OPERATION FOR THE FOLLOWING REASONS SUPPOTED BY THE DOCUMENTARY EVIDENCES (A PREEMPT MOVE ON THE PART OF IBA-UFBU NEXUS)
Please listen to my following audio conversation (link) With Smt. Srikala Ramachandran of SBI Bengaluru ):
https://youtu.be/6FsNy-ST65w?si=N-BGQ4jyPwnGycj
THEREFORE, PENSION UPDATION "SANS RBI PATTERN" INVARIABLY WARRANTS UFBU'S INTERVENTION IN TERMS OF THE ABOVE AGREEMENT WHICH CANNOT BE RULED OUT OWING TO THE CLANDESTINE UNDERSTANDING BETWEEN IBA & UFBU DURING THE LATEST CLC PROCEEDUNGS HELD IN THIS REGARD EARLY THIS YEAR AT NEW DELHI FOLLOWED BY MUMBAI- Ie: 24 01 2023 / 31 01 2023 / & 07 02 2023
https://drive.google.com/file/d/1hNCjTcGdXyv3xd0aL7WEFxhHVCZ2EIgE/view?usp=drivesdk
BEING THE "HIS MASTER'S VOICE" OF THE IBA , PRECISELY THIS IS WHAT AIBEA LEADERSHIP HAS BEEN PROPAGATNG SINCE 2019 AS PER THEIR ABOVE COMMUNICATION AS AGAINST THE SIGNED MINUTES BETWEEN ALL THE CONSTITUENTS OF UFBU & IBA VIDE REF.NO. PD/CIR/ 76/G(ii) /1905 DATED 31 03 1994.
https://drive.google.com/file/d/10zkOPPWNalsqCMIXq9R8ixuschnL2Deg/view?usp=drivesdk
In terms of the above, there are lot of variations in the multiplying factors as proposed by the AIBEA IN ITS ABOVE CITED COMMUNICATION WHICH IS TOTALLY MISLEADING AND CONFUSING.....AND IS VERY MUCH AGAINST THE INTERESTS OF THE BANK RETIREES.
WE ARE MADE JUST MUTE SPECTATORS TO WATCH THE DRAMA BEING PLAYED BEHIND THE CURTAIN
AT THE SAME , IT ALSO CANNOT BE MADE PUBLIC AT THIS JUNCTURE FOR BEING SUBJUDICE INASASMUCH AS THE COURT ADJOURNMENTS ARE FIXED FOR THE SUBMISSION OF REPORTS BY DFS & IBA IN DHC & SCI ON 07 11 2023 AND 21 11 2023 RESPECTIVELY.
IN THIS CONNECTION, I ANNEX THE FOLLOWING COMMUNICATIONS:
(1) COM. P MOHAN GARU Support the stance of UFBU/IBA
Followed by:
(2) CONTRADICTING THE ABOVE, THE ANALYSIS AS MADE OUT BY OUR LEARNED FRIEND COM.SIMASUNDARAM GARU
THE CONTENTS ARE SELF EXICIT.
EVER SINCE THE RESTORATION OF PENSION UPDATION IN RBI IN 2019, I HAVE BEEN VERY MUCH APPREHENSIVE AS TO THE INTEGRITY OF THE AIBEA LEADERDHIP ( "GANG LEADER OF UFBU") WHICH IS BEING PROVED TO BE TRUE TODAY - EVEN AFTER FOUR LONG YEARS!!
దేవులపల్లి శ్రీనివాస మూర్తి
::QUOTE::
**********************************
EFFECT OF MERGER OF DA AT CPI 8088 POINTS WITH THE CURRENT BASIC PENSION & ITS IMPACT
By Com.P Mohan; BankPensioner" (Google Group)
https://drive.google.com/file/d/1bATaSWg3BfiGjqy_IoYznGQnUmvVmjzl/view?usp=drivesdk
Dear Friends,.
It seems , that few Retirees have confusion on this point.
At the outset let me clarify that merger of certain CPI points with basic Pension is neither Updation of Pension as we demand, nor improvement in pension we receive now.
No monetary benefit is derived to pensioners on this exercise except notional increase in Basic Pension,and uniform percentage of DR in future.
As pensioners, we are drawing pension fixed at the time of one’s retirement, with same rate of Dearness Allowance applicable to that period,in terms of BPER,1995, with half yearly increase/decrease in AICPIN-IW,published by GOI,monthly.
Serving employees salary is revised once in five years with;
a) merger of certain CPI points with their basic pay,at each BPS/JN.
b)and adding certain load factor &
c) Spl.allowances( which may not count for pension!) and revised DA.
Unless Updation of pension is implemented, as and when wage revision takes place at industry level, there may not be any parity in pension between 5th BPS pensioner and 12 the BPS pensioner.
For eg:An employee under 5th BPS period with a basic Pay at Rs.5200 would have been continued in service till 11th BPS period in same scale he would have drawn Rs.82670 as his Basic pay on retirement.And consequently a sum of Rs 41335. as his Basic Pension,too.
I have enclosed an illustration for reference, on impact of merger of CPI points 8088 on pensioners under different category.
As I have stated earlier, merger of CPI 8088 points with basic pension of retirees may pave way for Updation of Pension in future, on the lines of RBI pensioners or Central Govt pensioners,with suitable formula.
LET IT HAPPEN.
P Mohan
--
mohan p
2 Nov 2023
(to bankpensioner)
Merging CPI of 8088 points is not Updation of Pension.( In every settlement certain portion of CPI is merged with Basic Pay of employees from 600 points to 6352 points with a single DA rate.)
PENSION UPDATION:
In short a person retired under 6th or 7th BPS/JN period to be brought to level of 11th or 12th BPS/JN with notional increase in Basic Pension and a uniform lesser DR rate.
RBI pensioners have already got the benefit.If RBI formula cannot be applied suitable formula to be arrived in case of bank pensioners.
MERGER OF DR AT 8088 POINTS MAY NOT GIVE ANY BENEFIT TO PENSIONERS. UPDATION OF PENSION IS OUR DEMAND.
Regards,
Mohan.P
*******************************
FOLLOWING IS THE ANALYSIS AS MADE OUT BY OUR LEARNED FRIEND COM.SIMASUNDARAM GARU
::QUOTE::
#Evolution_of_Banks_Salary_structure_of_BPS
I draw your attention to the table appended which is excellent.
Common DA to all. Bps. How it was to be arrived at in the given chart ?
It was as follows
0.07% for a slab of 11 th bps over and above 6352 merger CPI point.
Now proposed merger for 12 th bps is at 8088 cpi point So 0.07*6352/8088=0.0549
It is taken as 0.05 instead of 0.054 or 0.055
Now DA pts are 8880
So addl slabs over merger at 8088
8880-8088=792/4=198 slabs
198*0.05%=9.9%
If taken as 0.054% It will be 10.69%
(The third decimal is simply omitted in DA% application. So he has taken as 0.05%.)
Here is a role to be insisted on ufbu.
In 11 th bps 0.08% was given to RBI and LIC and only 0.07% to banks though we all are under DFS
In 3 rd bps .such discrimatory DA was done
1.5% was first agreed to banks
1.58% to RBI was agreed later.
At that time ufbu agitated against such discrimination immediately and got amendment to 3rd bps DA of 1.5% per slab to 1.58% per slab over 200 cpi points
But in 11 th bps 0.08% of DA was agreed to RBI & LIC subsequent to bank settlement.
But no agitation was made.
That shows the lack of commitment and motivation of the leaders at the helm of affairs.
Ufbu now has a chance to rectify these discrimination though prospectively as put in practice
by insisting to provide 0.06% of DA to basic in 12 th bps.
But we can expect such proactive thoughts only from committed leaders.
So the 0.05% DA for every rise of DA slab of 4 cpi points over 8088 is practical.
But voicing against the discrimination if gathers momentum ..it can force them to think over it.
So as of now 9.9% can be the DA and the revised pension has to be arrived at with that DA.
What is the mistake we observe in the charter?
Not in the calculation which is perfect, meticulous and marvellous
But It has ignored the model of RBI updation in which conversion factors
3.63/2.44/1.76 used for updation upto 10 bps
for the pension basic upto 7 bps/ 8 th bps/ 9 th bps respectively
Then for second updation in jun 2023. 1.63 was the conversion factor to update all basic to 11 th bps basic.
In RBI formulae.. loading of 10% was given .
In bps, We do not simply merge DA with basic without any increase. There exists another major component ie the load factor It is not equating like
Pre basic+ DA = New basic
Not 5+3= 8
THEN IT IS NOT REVISION. IT IS JUST EQUATING UNDER ANOTHER NAME AS REVISED BASIC.
ie Lower old basic + higher old DA = Higher New basic +lower new DA.
BUT, IT IS NOT SO....
Load factor as 10% to basic and another 5% for increase different allowances or any such similar working is done at settlement.
THIS CHART HAS OMITTED LOAD FACTOR. SO IT CAN BE TERMED AS INCREASE BY MERGER WITHOUT LOAD FACTOR AS PROVIDED IN RBI UPDATION.
Of course load factor to banks bps differs from that of RBI on every bps
Moreover In RBI updation formula
The basic was first stepped up from
7 th to 8 th. By 1.5 times
then 8 th to 9 th 2.06
then 9 th to 10 th 3.63
From 7 th to 10 th basic was updated by 3.63 times
From 8 th to 9 th. 1.38
Then 9 th to 10 th 2.44
From 8 th to 10 th basic was updated by 2.44 times
From 9 th to 10 th 1.76
Conversion factor was used.
( Why conversion factor so high from 9 th 10 th. Ie Due to delay in settlement .)
In psbs settlement, DA merger at 9 th bps was 2836 & More slabs had to be added to merge at 4440
So conversion factor would be high as applied to RBI (ie 100 converted to 176 )
For second updation in RBI Conversion factor was 1.63 .
Due to long delay in settlement the CF had become high.
Discrepancies in calculation that I notice are as follows:
1) Step by Step conversion to next bps not taken as applied in RBI updation
2) Mere merging with DA
Due to increased basic by this merger
increase due to DA application to a merged portion of earlier DA with basic has given increase.
3) LOAD FACTOR ON EACH BPS (IN RBI 10% WAS LOADED ON EVERY CONVERSION TO NEXT BPS SCALE) WAS OMITTED.
Thats why still huge difference in updated pension of various bps period retirees can be observed as
38697~ 59228
from 5 th bps to 11 th bps .
Again a messenger cadre pensioner retired in 12 th bps may draw higher pension from a AGM retired in 5 th bps period.
It will lead to the persistence of the anomaly we spoke against.
If updated with load factor
More or less agm retired in 5 th bps can get the same pension of the AGM retired in 12 th bps.
Difference if any may exist due to introduction of additional stagnation increments, FPP components & PQP . NOT OTHERWISE !
THAT IS THE MEANING OF UPDATION AS WE PRESUME !
M.Somasundaram
**********************************
::UNQUOTE::
NOT WITHSTANDING THE ABOVE HURDLES.....
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.
(For any further clarifications, please contact me directly on my Phone number: 9989318300 as it would be very difficult for me to go on replying by individual messages. Please co-operate. )
With Greetings & Regards,
||यतो धर्मस्ततो जयः||
దేవులపల్లి శ్రీనివాస మూర్తి
Phone number: 9989318300
Hyderabad :: 03 11 2023