Pension Updation of retirees upto 31/10/2022

Bank retirees are aware of all the  facts regarding pension negotiations,which are on record so far.

Indian Banks Association (IBA) had long back   filed an affidavit before the Supreme Court stating that it would neither be appropriate nor possible for the Banks to consider the request of the bank retirees for Updation of Pension.

IBA has also  publicly  informed  that the matter of pension updation of  Banks is sub-judice in Hon’ble Supreme Court of India.So IBA is in no position to consider revision of pension.

It is also  pertinent to note that  in the recent  AIBEA circular it is  mentioned that 

" Regarding pension updation,IBA explained the cost implications of the same,but they are trying to work out some  possible solution to improve the pension of all retirees up to 31/10/2022"

we don't know what "improvement"means,which is certainly not pension updation.Upgrading all pension at 8088 points will not construe as an improvement.

      The biggest surprise so far is that UFBU,  which is authorised to negotiate wage settlement  on behalf of bankmen is "inviting suggestions from the members regarding pension updation for retirees."This appears to be a somersault from UFBU.More importantly UFBU is not at all talking about pension updation on RBI line.UFBU is in no mood to talk about revision of pension 'head on' with IBA  even now.IBA/UFBU team is trying its best to hoodwink our innocent bankmen.

From the above happenings,it is  crystal clear that pension updation will not materialise through  the Bipartite mechanism. The only hope and  solace for the bank retirees at present is Supreme court,which can deliver the appropriate justice(with some delay),which we are all longing  for.