Bankers Pension a travesty and a trgedy.

Bankers Pension a travesty and a trgedy.

About 29 years passed since an agreement between Indian Bankers Association and the Employees organizations regarding the introduction of pension in the banking sector. For the sake of providing the benefit to the then top leader of the Bank Employees the Pension made effective from 1986 (the year in which the leader retired). The draft agreement produced before the staff clearly stated that the pension is going to be introduced in the banking sector, in the line of pension provided to the Central Government and Reserve Bank of India pension. Some staff signed in favour of pension forgoing the employers' contribution towards their Provident Fund account. A large number of staff were illusioned by the then prevalent Bank Deposit interest and the guidance of some vision less leaders.

After 15 years these leaders of different employees/officers organization brought most of the staff under the pension scheme after sacrificing a huge some of money from their arrear dues. Different Banks management had not only saved a healthy pay out (in the form of arrear) from their basket, but also they could introduce NPS in Banks for future joinees of these Banks. Thus the retreating of the bank leaders were not taken in good spirit by the common staff they started developing apathy about their leaders and the management started ignoring the leadership. They could feel that the leaders are no longer in confidence of the mass. Look at the different wage settlement, took place in Banks after 2010, all are worst, comparing to the settlement of other financial institutions, those were performed during this period. They have bowed down to the management/IBA.

Those leaders who ditched their members have now become pensioners. Some of them still holding important chairs of some employees union, without any credibility. They are neither be able to fetch benefits for the existing staff nor do they have the goodwill to pursue with pensioners issues. They are only busy in projecting the charities made by the management as their success stories.Management has taken the measurement of these leaders operating zone. So they are least bothered about any movement taken up by these leaders. Many Banks have siphoned funds from their pension fund account to meet other expenduture. Many Banks have not provied any farthing to the pension fund accounts. The leaders are silent. They basically disowned their members.

If at all any improvement in pension,takes place in future, it would be the outcome of the relentless struggle by the retirees. The numbers of pensioners are gradually diminishing. Many of the senior retirees and their family pension holders hace already left this world.

From Urmilendra Mukhopadhyay,'s wall