9.03.2023.
*Valuation of Pension Fund by Actuaries .2018.* 
The above data may or may not be authentic .
However the Retirees Organisations and AIBOC can certainly give the facts .
Such Data cannot be compiled without the help of IBA and Banks . Further name of the Acctuaries is also mentioned hence it can be easily counter checked with said Actuaries .
Based on this , AiBPARC can at least inform the facts to its affiliated organisations .
*Assuming that it's authentic data ..*
Let us deliberate on this issue further .
...The addtional provision towards 30% *Family Pension* was estimated at Rs 20300 crores .(2018).
Now the question is when IBA had already worked out additional cost burden of 30%Family Pension in 2018 itself , why the decision could not be implemented immediately thereafter ?
Why it took 6 months for IBA to submit the required proposal to DFS in the month of December 2020 only , when IBA had announced it's consent for the same in July 2020 itself .
Further, this decision was further delayed as some of the banks sought RBI approval to make the provision for additional funds requirements in next 5 years .
The figure mentioned in the chart seems to be correct .CHV has disclosed that FP revision put the burden of *Rs 18000 Crores* .
May be the delay of 3 years in implementation of decision might have resulted in the reduction of burden from 20300 to 18000.
After all these are estimates based on assumption of certain future unpredicted issues You cannot expect 100% accuracy .The bank can very well review the position in future at the time of annual exercise carried out by actuaries as laid down under the provisions of Pension Scheme.
Now let us discuss the main issue of *Pension Updation at the interval of 5 years*
The actuaries cannot work out the estimated additional cost burden unless IBA gives them feedback on following two ingredients .
1..Date of implenetation of changes.
2... Probable Rate at which *Basic Pay* and basic pension will be increased after each future salary revision .
The increase in salary under salary revision is subject matter of negotiations between IBA and UFBU .
The load in Basic Pay is mainly linked to DA merger and agreement arrived at between the two parties about *additional load factor* to be added on such merged Basic Pay .
It's highly impossible to predict such increase in Bssic Pay over next 15- 20 years unless both the parties have reached some broad understanding about future likely scenario .
The load factor assumes importance that gives actual increase in Gross Salary to Serving Employees ..
Whereas increase in pension is linked to increase In Basic Pay.
It appears that in 2018 itself at least IBA had taken a *policy decision* that in future they will not agree for substantial increase in Basic Pay based on which Basic Pension is fixed at the time of retirement.
The future liability towards pension is directly linked to increase in basic pay eligible for pension.
The increase in basic pay due to merger of D A can be fairly estimated as its linked to Price Index.
The price index can vary within certain normal range unless there are major financial crisis due to international or natural abnormal situations .
Hence to arrive at future pension liability more accurately they must have decided to introduce new concept of Special Pay not ranking for Pension which can be a variable factor based on mutual discussion carried out to finalise settlement.
Which was in fact first implemented in 2015 under 10 BPS.
The bifercation of increase in basic salary in two parts ensured that pension burden is restricted and at the same time employees get substantial increase in Gross Salary .
That's why from 2012 onwards total outlay towards pension paid has remained at same level .
The total gross pension disbursed to similarly placed employees is almost same (Due to higher commuted value total pension has become stagnant and hence all are getting almost equal pension. As on today total pension revived is highest to those who retired prior to 2012).
Any how 30 %of existing employees are covered under NPS hence they are least bothered about increase in basic pay .They are more interested in increase in Gross Salary , rather *take home salary* .They are not having any concern about their income post retirement.
Thus it can be construed that all stakeholders
DFS
IBA
UFBU
And Retirees Organizations
All are aware about likely cost burden (Data is known to all from 2018 onwards ).
Thus the parties to Record Note signed in 25.05 2015 have completed mutually agreed task of ascertaiing *cost valuation* of pension updating . (It was ready in 2018)
There may be some other reasons why they are fooling the pensioners declaring that IBA is still working on it
( 8 years to arrive at Cost Burden is unimaginable) .
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