AICBRF
Pension Updation is not a distant dream....it will happen early
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Team AICBRF wishing all our Retired Colleagues & Family Pensioners in our Bank a healthy and more Prosperous 2023.
PENSION UPDATION
Justice Shri Kantilal T Desai Tribunal’s Award Dated 07-06-1962:
Para 8.5:
“The Indian Banks’ Association has strongly opposed introduction of any pension scheme where no such scheme is in existence. It has submitted that no case has been made out for third retiring benefit and has pleaded that if 3 retiring benefits were given, burden on the resources of banks would be crushing.”
Para 8.61:
“I shall next consider whether any direction should be given in connection with Pension Schemes …….Having regard to all the facts and circumstances, I give no direction in connection with any Scheme of Pension.”
In RBI, Pension was introduced in the year 1990 as a retiral benefit in lieu of Contributory Provident Fund.
Our elder pensioners would recall from memory as to how they had to struggle and sacrificed a lot for acquiring right to Pension Benefit (Pension Settlement & Joint Note dated 29.10.1993) amidst hostile atmosphere. Hence following facts need to be kept in mind in the backdrop of evolving situation on Pension Updation:
a) Minutes of the Small Committee Meeting dated 26-03-1994 held between IBA & the Negotiating Unions: Formula for Pension Updation should be on the lines of the same given in the RBI Pension Scheme. Any change therein should be introduced only after mutual agreement;
b) Due to repeated representations from Retirees’ Organisations and with the support of Negotiating Unions in the banking industry, Central Govt issued their Guidelines in 1998 advising payment of an Ex-Gratia amount of Rs.300/- + DA per month effective from November, 1997 to Pre-1986 Retirees of Banks;
c) Full Neutralisation of Dearness Relief for entire basic pension without tapering for Post 01-11-2002 Pensioners as per 8 th BPS and 5th Joint Note Dated 02.06.2005;
d) Another option for joining existing Pension Scheme (OPS) Vide Settlement & Joint Note dated 27-04-2010;
e) Payment of Arrears to Retired Part Time Employees on Scale Wages Vide 10th BPS Dated 25.05.2015 arising out of re-defining qualifying service by providing full weightage for their services instead of proportionate weightage for reckoning pension;
f) Introduction of Medical Insurance Scheme for bank retirees as per Settlement & Joint Note dated 25-05-2015 and
g) Improvement in Family Pension Viz: 30% of Pay without ceiling as per Settlement and Joint Note dated 11-11-2020.
Further, there are some perceptible steps taken by the UFBU on Pension Updation as conveyed in their Circular No: UFBU/2022/13 dated 17-12-2022 on their Meeting held at Chennai on 15-12-2022 and also other subsequent communications addressed to the authorities concerned.
Recent Developments:
1.Central Government approved recently revision of pension of Armed Forces Pensioners/Family Pensioners under One Rank One Pension w.e.f. July 01, 2019. (For removal of anamolies in implementation of OROP Scheme announced earlier by the Govt., Ex-servicemen sought judicial intervention)
2. The Government permitted increase in the amount of Ex-Employee Family Pension in all Regional Rural Banks.
3. Kerala High Court, in 2018, had set aside Employee's Pension Amendment Scheme, 2014 that capped maximum pensionable salary to Rs.15,000/- per month. Against this judgement, Employees Provident Fund Organisation filed SLP in Supreme Court. After having lost the case before 3 Judges Bench of Apex Court, EPFO had issued a circular on December 29, 2022 towards payment of higher pension to eligible employees.
4. Several State Governments are veering around to the view in favour of providing option to their employees to choose OPS or NPS and seem to be in pursuit of the same.
We cannot escape from history. So much so, it is always wiser to adopt an attitude of learning from history rather than ignoring it, however unpalatable it may happen to be.
Our experiences during our service life reminds us about the struggles and sacrifices, successes and set-backs we had undergone in the past. When we recapitulate history, we are fully conscious that history is not a mere narration of events. It reminds us of the past, spurs us into purposeful activity for the present and it makes us optimistic for the future. It is heartwarming to note that Balance Sheets of many banks registered Profits and have become healthier over the past few years, thanks mostly due to untiring efforts & courteous service rendered by the workforce in the banks amidst challenging & stressful environments.
Comrades!
You all are aware that in the absence of any consultative mechanism to discuss and resolve pensioners’ issues with IBA at the Apex Level, AIBRF has been seeking the support from the 9 constituents of the UFBU, besides coordinating its efforts for getting the Pension Updation materialised and taking our own independent initiatives by holding dharnas in State Capitals across the country, approaching many Parliamentarians, Ministers, Eminent Public Personalities sympathetic to our demands in the last several years and Online submission of Memorandum to the Hon’ble PM recently. Solution is still eluding.
With the above realistic scenario engulfing banking horizon, it is quite regrettable that some Retirees’ Organisations continue to upbraid Negotiating Unions under the banner of UFBU in the Social Media without recognizing that the support of UFBU means a lot not only to our elderly retired colleagues languishing for pension updation, but also in the best interests of other pensioners in the long run, as we need to first secure legal right to periodical updation of Pension as and when the wage revision takes place to the workforce in banks.
Bengaluru beckons us for 6th Triennial Conference of our National Organisation AIBRF on Feb. 25-27, 2023.
As a part of mainstream of bank retirees’ movement, our contingent comprising 70 Delegates and 31 Observers are going to participate in the Delegate Session. We will place our stand/thoughts in the Delegate Session with a view to taking up immediate concerns of bank pensioners, more particularly, Updation of Pension and with sagacity march forward for getting our Mother Demand of Pension Revision materialised. Hope smiles from the threshold of the New Year 2023, whispering,
“Pension Updation is not a distant dream, but would happen early”.
Yours Fraternally,
(S V SRINIVASAN)
GENERAL SECRETAR
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