Dear Comrades,
Bipartite Talks with IBA on 22nd JULY, 2021 on Pension Updation
You are aware that after signing the 11th Bipartite Settlement on 11-11-2020, certain residual issues were pending discussion. These issues were followed up in the meeting with the IBA on 10-12-2020 and the minutes of this meeting was also circulated to all our unions.
These issues relate to approval for improvement in family pension, enhancement in management contribution to 14% for those covered by defined contributory pension scheme (NPS),
5 Day Banking,
updation of pension, etc.
Due to second wave of covid infection and prevailing pandemic situation, there has been difficulties in holding further meetings and discussions with IBA.
In the meantime, there has been undue delay over the approval by the Government regarding improvement in family pension and NPS at 14% which have been agreed in the Settlement and Government clearance is still not received.
We are following up the same.
Discussion on Pension Updation:
IBA has set up a Committee under the Chairmanship of Shri Mallikarjuna Rao, MD, Punjab National Bank.
The other members of the Committee are Shri M V Rao, MD, Central Bank of India as Vice Chairman, Shri Rana Ashutosh Kumar Singh, DMD (HR) & CDO, SBI, Shri Shanti Lal Jain, Executive Director, Bank of Baroda, Shri Debasish Mukherjee, Executive Director, Canara Bank as members.
IBA has invited AIBEA, NCBE, NOBW and INBEF for bipartite talks with this Committee on 22-7-2021.
Similar separate meeting will be held with 4 officers associations also.
It will be recalled that last year, during the pandemic period, IBA held bipartite talks on 22-7-2020 which paved the way for finalizing an MOU and which resulted in the successful 11th BP Settlement to be signed on 11-11-2020.
In AIBEA, we believe in bipartism and collective bargaining and it will be our endeavour to amicably resolve the important issue of periodical updation of pension.
This meeting will be a beginning of this process.
With greetings,
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