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Wednesday, February 3, 2021

BANK PENSIONERS' PAIN

 BANK PENSIONERS' PAIN

In spite of provisions in Constitution and Pension Regulations applicable in Public Sector Banks; retirees of Public Sector Banks, senior citizens and super citizens, are forced to lead a pitiable life due to apathy of the Government and Bank managements.

Traditionally, pension is fixed at half of the current salary payable and updated from time to time at the time of increase in salary of working employees at an agreed proportion.  But bank pensioners have been deprived of this benefit since the last 25years.  Those retired 20-25 years ago are getting the same pension fixed at the time of retirement.  Considering the inflation during this period this amount of pension is negligible and it is not sufficient even for medical expenses at this oldster age. 

 Due to non-updation of pension has resulted in an anomaly viz. seniors retired earlier are getting less pension than their juniors retired later.  To quote an example A General Maager retired 20 years back is getting less pension than a subordinate staff who retired recently.  This is against Natural Justice.

However, recently the cognisance of distress of deprived Senior and Super Senior Pensioners of PSBs has been taken by the Hon'ble Finance Minister Ms Sitharaman who directed the Chairmen of SBI and IBA to treat the pensioners of banks as their Family Members sighting their (pensioners') contribution to the banking industry.  She also suggested for treating the pensioners' issue on the lines of OROP as applicable in Defence.

Regrettably, even after the statement of Hon'ble FM, Petitions forwarded to the Prime Minister/ Finance Minister/ IBA directly and through Social Media signed by more than 33500 pensioners/supporters have remained un-responded.

It is matter of regret that both the issues as stated above have not seen light of the day. 

Pension and updation of pension are inseparable as defined by Supreme Court.  As per Pension Regulations, approved by Government of India, pension has to be updated at the time of revision of pay scales of current employees.  Article 21 of Constitution of India provides that Senior Citizens/Super Senior Citizens are entitled to live with dignity, peace of mind, free from mental harassment and financial distress during sun-set days of their life.

However their plight has been ignored by the Government, MoF, IBA, Bank Managements and  Staff Unions.

S. C. Garg
subhashgarg1947@gmail.com
011 25291922, 8810458591

GRP Bhatnagar
grpbhatnagar1@yahoo.com
129 4000186, 8750488004

_PENSION UPDATION_

Dear Friends,

It has been a long pending issue un-resolved inspite of every possible effort.  It is suggested and proposed that an effort through print media may be tried.  In this direction an advertisement may be given in some reputed daily national News Paper to draw the attention of general public, press and electronic media.

A write-up for this purpose is enclosed for your perusal and suggestions /comments.

The above involves cost of around Rs.50,000/- plus which is high cost for an individual.  Therefore, collection of Rs.1,000/- voluntarily is suggested and their name may be printed under the matter.

Your opinion to the above is solicited.

With kind regards.

S. C. Garg
subhashgarg1947@gmail.com
011 25291922, 88104 58591

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