Why Pension Updation to Bank Employees is consistently denied by Govt of India, even though it does not require a single pie from Exchequer?*
Pension to Govt Employees is paid from Public Exchequer which is public money.Wheras each bank including RBI ,NABARD have created their own pension fund managed by Pension Fund Trust.There was a balance of Rs.207079 crore as on 31 March 2016 which increased to Rs.234531 crore as on 31 March 2017 after paying the pension to employees in the Pension Funds of Public Sector Banks. In fact, the Interest earned by Pension Funds was enough to pay pension to employees necessitating Nil contribution by Banks towards pension liabilities of employees. Interestingly ,there was Actuarial Gain of Rs.18821 crore during 2016-17 to the Pension Funds.Around Rs.15757 crore was paid as Pension during 16-17.
If Updation is allowed , there will be some increase in outflow which will be offset through the Annual Gain of Funds.Thus, now Banks rarely make Annual contribution on Actuarial Valuation to the Pension Funds from their profit as it is not required. Bank Employees recruited after 30.04.2010 are covered under NPS.The number of Pensioners is coming down drastically year after year.Funds can very well bear the Updation Outflow without recourse to contribution from bank's profit.
Bankers pension does not require funding from Public Exchequer and we manage our own fund and pay our own pension. Still, bureaucrats who get pension from Public Exchequer create hurdle to deny Pension Updation to Bankers.
Given below is the Bank wise Pension Fund Availability,annual interest accrual to the Funds ,Pension PAID and Balance available at the end of 2015-16 & .2016-17 which gives the clear picture of PSB Pension Funds.
The position of Pension Funds of RBI and NABARD are still much better compared to our pensioners strength.
Congrats AIBOC & NOBO for not participating in the recent bipartite talks until upgradation & revision of pension for retirees are not included in the Settlement. Bravo! Dear Unions.
12 comments:
Thank u comrades of AIBOC AND NOBO for their firm stand on pension updation.
Thanks leaders of AIBOC and NOBO for their stand on pension updation and hope they will stick to.
My thnx to AIBOC nd NOBO for taking this step.
Down with burocrats with larger ego & hearts full of malice towards most sincere lot viz Govt sector Bank staff particularly retired staff. May their clan perish & suffer greater agony.
Stand on pension updation by unions and association is very much reasonable and timely. I request them not to loose their grip. If necessary conduct a march in Delhi involving pensioners also and regularly hit the head lines of national news papers and national TV channels. Thank u for the support.
Thanks AIBOC and NOBO for taking care of pensioners and taking this step.
Thanks AIBOC and NOBO
Thank you AIBOC & NOBO. Please stick to your stand and may you succeed.
Then how come the great leader of AIBEA is putting brakes on this issue citing the reason that this will be a burden on the banks which they cannot afford.
AIBOC & NOBO.great
We regret the stand taken by our beloved organization aibea and aiboa against the pensioners as in the past of iba and hope that our demand will come true within near future.
BA 2nd Year Result:Thanks For sharing Education News Blog
Post a Comment