Forwarded as received
The most popular Malayalam newspaper 'The Mathrubhoomi' has published an 8 column news item titled "NO PENSION REVISION FOR BANK EMPLOYEES DURING PAST 26 YEARS".
THERE are also sub titles such as "Pension of Chief General Manager is less than that of a clerk" and "The accumulated pension fund is Rs. 2.40 lakh crores".
The news translated into English :
The accumulated idle fund in Bank Employees Pension Corpus Fund started in 1993 is Rs. 2.40 lakh crores. The reason given by the banks for non-revision of pension is that there is insufficient balance in the fund. The fact that there will be sufficient amount in the pension fund even if employees pension is doubled now has come to light when the All Kerala Bank Retirees Forum obtained facts from various public sector banks under RTI.
Total amount disbursed as pension in the year 2017-18 was Rs. 14800 crores. The interest earned in the corpus fund during the same period was Rs. 18400 crores. 75% of interest accumulation in the pension fund is sufficient to disburse pension to all pensioners. There are 6.91 lakh pensioners as of now of which 1.20 lakh are family pensioners.
Even though salary of public sector bank employees had been revised five times since 1993, pension has not been revised even once. Pension of RBI staff was revised in March this year. These details were collected by Mr. K. T. Babu, Vice President of All Kerala Bank Retirees Forum.
Bank managements have to transfer 10% of employees salary to Pension Corpus Fund every year. During the last two years six banks have not transferred even a single rupee to the fund. Not only that they have also not made any provision for this in their balance sheets.
Employees are facing a dangerous situation due to non-revision of pension. A chief General manager retired in 2002 is receiving lesser pension than a clerk retired in 2018. It is the family pensioners who are facing maximum difficulties. In 1993 when pension was introduced the family pension was fixed at 15% of the salary at retirement. Central government is paying family pension at 50% of the pension drawn by pensioners.
RS. 3445 CRORES FROM PENSION FUND SPENT FOR OTHER PURPOSES:
Oriental Bank of Commerce spent Rs. 825 crores in 2017 and another Rs. 2620 crores in 2018 from the pension fund for other purposes. Bank has admitted in their written reply that these amounts were not withdrawn for pension payment. It is not clear which are the other banks that have utilised pension fund for other purposes like this. "
The above details were also shared with us in our meeting on 14.12.19 attended by Com. K. V. Acharya and Com. K. Ananda Kumar at Kozhikode by the representative of AKBRF who is also a life member of ARISE.
Message forwarded for the benefit of retired members though it is not relavant to the group, but less pension really affects health.
Hope members will appreciate my concern 🙏🙏🙏 🙏🙏 🙏
The most popular Malayalam newspaper 'The Mathrubhoomi' has published an 8 column news item titled "NO PENSION REVISION FOR BANK EMPLOYEES DURING PAST 26 YEARS".
THERE are also sub titles such as "Pension of Chief General Manager is less than that of a clerk" and "The accumulated pension fund is Rs. 2.40 lakh crores".
The news translated into English :
The accumulated idle fund in Bank Employees Pension Corpus Fund started in 1993 is Rs. 2.40 lakh crores. The reason given by the banks for non-revision of pension is that there is insufficient balance in the fund. The fact that there will be sufficient amount in the pension fund even if employees pension is doubled now has come to light when the All Kerala Bank Retirees Forum obtained facts from various public sector banks under RTI.
Total amount disbursed as pension in the year 2017-18 was Rs. 14800 crores. The interest earned in the corpus fund during the same period was Rs. 18400 crores. 75% of interest accumulation in the pension fund is sufficient to disburse pension to all pensioners. There are 6.91 lakh pensioners as of now of which 1.20 lakh are family pensioners.
Even though salary of public sector bank employees had been revised five times since 1993, pension has not been revised even once. Pension of RBI staff was revised in March this year. These details were collected by Mr. K. T. Babu, Vice President of All Kerala Bank Retirees Forum.
Bank managements have to transfer 10% of employees salary to Pension Corpus Fund every year. During the last two years six banks have not transferred even a single rupee to the fund. Not only that they have also not made any provision for this in their balance sheets.
Employees are facing a dangerous situation due to non-revision of pension. A chief General manager retired in 2002 is receiving lesser pension than a clerk retired in 2018. It is the family pensioners who are facing maximum difficulties. In 1993 when pension was introduced the family pension was fixed at 15% of the salary at retirement. Central government is paying family pension at 50% of the pension drawn by pensioners.
RS. 3445 CRORES FROM PENSION FUND SPENT FOR OTHER PURPOSES:
Oriental Bank of Commerce spent Rs. 825 crores in 2017 and another Rs. 2620 crores in 2018 from the pension fund for other purposes. Bank has admitted in their written reply that these amounts were not withdrawn for pension payment. It is not clear which are the other banks that have utilised pension fund for other purposes like this. "
The above details were also shared with us in our meeting on 14.12.19 attended by Com. K. V. Acharya and Com. K. Ananda Kumar at Kozhikode by the representative of AKBRF who is also a life member of ARISE.
Message forwarded for the benefit of retired members though it is not relavant to the group, but less pension really affects health.
Hope members will appreciate my concern 🙏🙏🙏 🙏🙏 🙏
3
You, Sathyamurthy Krishnamurthy and 1 other
You, Sathyamurthy Krishnamurthy and 1 other
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