Various Pending Issues of Bank Retirees

Various Pending Issues of Bank Retirees

FORUM OF RETIRED BANK EMPLOYEES
C/0 National Institute for Banking Education and Research
K — 5, Induprabha Society, 490, Narayan Pewth Pune 411 030
E mail: niberpune©yahoo.com, Phone: 020 24458228
(Registered under the Societies Registration Act 1860 under No. 6911/91 on 21-1-93 and under Bombay Public. Trust Act 1950 under No. F8005/1993 on 25-2-93)

No. FORBE/MSF/325/2015-16

19.01.2016

Shri.Jayant Sinhaji,
Hon. Minister of State (Finance),
Government of India,
North Blocks,
New Delhi 110 001.

Respected Sir,

Sub:Various Pending Issues of Bank Retirees .

We are thankful to you for having spared your valuable time for granting us an audience and for giving patient hearing to the pending issues of the bank retirees. We have to submit the following for favour of your kind consideration.

1.) 100% DA Neutralization of those retired prior to 01.11.2002.

During the course of discussions on 8th Bi-Partite settlement a separate agreement was entered into by Indian Banks’ Association with award staff unions and officers’ organizations regarding pension issues. The basic pension for those who retired from 01.04.1998 to 31.10.2002 covered under 7th Bi-Partite Settlement and from 01.11.2002 to 30.04.2005 covered under 8th Bi-Partite Settlement has been fixed at 50% of average of last 10 months basic pay of their retirement instead of notional basic pay (i.e. basic pay as per 6th Bi-Partite settlement plus DA at 1616 basis points) that was considered after 01.04.1998. Also the dearness allowance is paid with 100% neutralization to those retirees who have retired after 01.11.2002. This was done effective from 01.05.2005. This has resulted in creating two classes of pensioners one retired before 01.11.2002 and the other retired after 1.11.2002. D.A. being paid on tapering basis to Retirees prior to 01.11.2002 are suffering huge monetary loss for the last 15 years (as other class is getting 100% D.A. Neutralization w.e.f. 01.05.2005) Clerical staff Rs.500 to Rs.1300 and Officers staff Rs.2000 to 8000 per month.

Therefore 100% neutralization of dearness relief needs to be paid to all retirees with effect from 01.05.2005 irrespective of their date of retirement.

2) Updation of Family Pension.

The enhanced family pension is paid for a period of 7 years from the date of death of the employee up to completion of 65 years of age of the deceased employee at 30% of last pay and the normal family pension is being paid at 15% of last pay drawn. There is a long pending demand for improvement in the family pension and the family pension should now be paid at 30% for the life time.

3) Upward revision in Ex-Gratia to those who retired before 01.01.1986.

The retirees and spouses of deceased retirees who retired prior to 01.01.1986 are being paid Ex-Gratia at the rate of Rs.350/- and Rs.175/- p.m. plus dearness relief thereon. The total amount of Ex-Gratia paid to pre-1986 retiree is Rs.3458/- and for spouse it is Rs.1729/- for January 2016. This amount is very meager during present days and needs to be upwardly revised so that it will give some relief to these ageing super senior citizens. We may mention some of the banks are paying some amount in addition to above as a welfare measure. There should be upward revision and uniformity in the matter of payment of Ex-Gratia amount.

4) Payment of pension to those who have resigned from service.

The IBA has excluded category of the employees who have resigned from the service for the purpose of payment of pension under pension regulations 1995, even though the employees have voluntarily left the services after giving requisite notice on completion of minimum qualifying service for payment of pension and after its acceptance and then relieving the employees from services. Such mode of exit is in fact covered as voluntary retirement from the service.

Similarly the emplyees who were in the service as on the date of settlement i.e. on 27.04.2010 and had resigned from their posts after that date but before the date of issue of circular by the respective banks (after 10.08.2010) are also denied to join the pension scheme for any logical reason.

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