Bank_pension_updation-Bank Pensioners' pension categorised under two different schemes see details

Respected and venerable Elders,

brothers, sisters and friends.

*For your kind notice and information*

*Regarding*

Bank_pension_updation

Bank Pensioners' pension can be categorised under two different schemes.

*1) State Bank Pension scheme*

*2) Other Nationalised banks scheme*

State bank of india had extended the pension scheme right from its inception.

The pension scheme in *Imperial Bank of India* has continued even after its conversion in 1955 as *State Bank of India*

Pension rules and regulations in SBI has clauses for updation of pension after wage revision.

For negotiating pensioners demand with Indian Bankers Association ie *IBA,* only serving Employees unions and Officers' Associations are allowed to represent and not the Pensioners' forums.

They have not clinched the demand of updation of pension till date and solved the issue.

2) In all other public sector banks, there was no pension scheme upto the year 1993.

After a decade long struggle it was agreed in 1993 after the introduction of pension scheme in RBI in 1990 with retrospective effect ie

from 1.1.1986

*Bank employees and officers had joined in the scheme after surrendering their Employers Provident fund as corpus for pension fund.*

It is inline with the RBI pension scheme

Though bipartite wage settlements for Banks had signed and new pay scales effected in *1987/92/97/2002/2007/2012)2017*, pension had not been updated accordingly after every wage settlement.

In general, pension is based on last year's 50% average basic

In SBI, for officers' pension was reduced by introducing 50-40% upto a cutoff basic.

Ceiling for pension was also imposed in the earlier period to reduce payable pension

Dearness relief for pension basic is calculated on the basis of consumer index as paid to Employees. But it is applied once in 6 months.

Normally in wage settlement , certain portion of Dearness allowance is merged with basic after loading some increase agreed.

So basic is revised and those who retires after a settlement will get more pension basic due to the revision in basic.

*1.11.87, 1.11.92, 1.11.97, 1.11.2002, 1.11.2007, 1.11.2012, 1.11.2017*.

As the new pay scale had changed after wage settlements on these dates,

Person who had retired before these days gets lower pension than those who retires after a settlement even though their grade, service and the stage in payscale are same.

This difference in pension is due to the non revision of earlier pension basic accordingly at the time of wage revision.

Among pensioners,

The pensioner at 60 yr of age retired in Oct 2017 gets lower pension than his age junior retired on Nov 2017 ie one month later , even though their other factors are the same

Similarly even though all other factors like service, grade and pay scale stage remain the same,

Pension of those retired in Nov 1987 and afterwards and age around 93 now gets pension

< that of the pensioner aged around 87 now and retired in Nov 1993 and afterwards

< The pension of the Pensioner aged 83 now retired in Nov 1997 and afterwards

< that of those aged 78 now & retired in Nov 2002 and afterwards

<That of those aged 73 now & retired in Nov 2007 & afterwards

<That of those aged 68 now & retired in Nov 2012 and afterwards

<That of those aged 63 now and retired in Nov 2017 and afterwards( after the current 11th bipartite settlement)

This disparity arises due to non revision of pension after wage settlement. ie due to non updation of pension

*Wages and pension are inseparable. Pension is nothing but a deferred wage*

On every month pension fund contribution for each and every employee is to be calculated and debited to bank charges along with the payment of monthly wages.

Out of this allocation and the accumulation in pension corpus only Bank pays pension. Not from Central Govt treasury.

So there is no financial burden or liability for Central Government.

While in the service of Central, State Governments and in the service of University as well as in RBI & NABARD,

no such anamoly arises, how this issue crops up in SBI and other Bank services?

ie due to non updation of pension ie for 30 years

Due to non revision, our senior citizens suffer a lot in their old age.

Getting justice by courts get delayed for years together.

Those who as bankers served for the economic development of our country and meticulously implemented every programme of the nation with such dedication not lacking behind of any other services are suffering a lot due to this partiality shown towards Bank Pensioners'.

We, senior citizens, nearly 5 lac Bank Pensioners of this country earnestly solicit your kind support for our struggle of three decades for updation of pension

#Courtesy:

M.Somasundaram

#Bank_Pensioners #Action_Forum

*( We request you to forward this appeal to general public thro all social media.*

*Like WhatsApp friends whatspp group, Facebook, Facebook groups, all bank pensioners group, in messenger, thro emails..Sir let us make this appeal reach public* )

With regards