BEFI Circular Dt.27 OCt.20.....Letter To DFS.
Re... *Pension Updating*
Points...
1...Befi clearly accepted that para 2 of their Circular..That Pension Scheme has no provision for updating .
2...Although cause regarding uniformity with RBI Pension Scheme was available in draft (Clause 12) ,it was deleted in Final Document Of Pension Scheme adopted through Act passed in the Parliament . It's just an understanding having no value ..enforrceable through Court Intervention.
3... in last 3 years IBA didn't made any progress in impact study of Updating of Pension despite it was agreed in Record Note of 25.05.15
BEFI has participiated in Negotians with IBA till 22.07.20.. hence we have reasons to believe that whatever is stated by BEFI is authentic information unless any of UFBU constituents issues communication countering the statements made by BEFI as not true or mis understanding .
If there are differences within UFBU on such vital issues concerning Pension Scheme. What exactly the leaders discuss in their meetings of UFBU .
If they oppose the Stand of BEFI it will be proved that all constituents of UFBU ardcewal partners and small unions are members of UFBU fir name sake .
Further, if pension scheme is not having specific provision of Updating , unless UVA agrees for such amendment and sends proposal to DFS the question of adequacy or surplus in Pension Corpus wil not strengthen our demand based on adequacy funds .
It will definitely put additional financial burden on banks and unless proper funding arrangements are worked out the issue of pension updating will not be resolved in near future .
At least Retirees Associations are supposed to issue a circular sharing facts and ground reality instead of running after dreams .
4 comments:
Thank God they have not addressed this letter to IBA.
IBA since last 10 years repeating same statement that cost data for updation not ready
IBA chairman is making this statement, He is MD of Union bank. Deputy chairmen are from SBI and PNB. negotiating members of IBA are MDs of banks. This means they themselves are responsible for providing cost data. How can they claim cost data not raedy when i can be provided within 10 days. ALL unions surprisingly never asked IBA to provide details of cost data. RBI also did not have provision for pension Regulations. Is there any problem in amending pension regulations to provide for Updation? Without disclosing cost data how one claim it is burden on Bans? At least BEFI realized its mistake and now pursuing updation and communicating with DFS. AIBOC and AIBEA also should shed ego and meet FM to resolve uopdation which is long pending demand. BPS proceedings reports of last 5 years claeraly indicate UFBU never took updatio issue seriously.
Abolish IBA,
COMBINE WITH central pay commission,
Request Madurai high court to give cpc pay to banks.
Think brother,
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