Special allowance and low pension
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Where as at the same time *LIC got revision having major load in Basic pay only* so that pension to bankers are comparatively lower than LIC employees.
Pensioners who retired before the settlement date ie 25th may 2015 and got revised pension could verify the meagre increase after refixation.
Again another foul play exhibited by ufbu while submitting its common charter of demands as against special allowance.
But it was not upheld in XI th bps. This time more % to special allowance and only 2.5% increase in basic pay.
In these periods ..in LIC ..wage increase had been given as done in all previous settlements, increasing much load in basic component only
Pl see how much pension difference between bank and LiC pensioners of same grade.
Why it has happened? Because of the unions that represent the employees.
Whatelse we can attribute as reasons for the invention of special allowances in banks not ranking for pension?
One more issue pressing us is the indifference to the court verdicts to include any allowances not for any specific purpose for the calculation of pension
But spl allowance has not been taken for pension in banks and NO BiG unions or pensioners forums have referred it to supreme court to get justice against these negative practices of low load in basic to reduce future pension payments.
Besides all these adverse stand.. Sri ChV asks whether pension fund is a mango tree to yield whatever we wish and sri sanjeev banlish declares that surplus in pension fund is myth.
Both the leaders of top big unions have voiced for IBA by using these terms
MANGO TREE or MYTH
to reply on behalf of IBA that there is no fund to give updation of pension
Because of wrong leaders in bank unions ..bankers remain losing of their rights of financially better life.
M.Somasundaram
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