On the BANK FRONT

IMPROVEMENT IN PENSION – COURT CASES AND OTHER RELATED MATTERS.

The members are aware that the Pensioners Federation in State Bank of India has been struggling for improvement in the pension scheme in State Bank of India. The 7th bipartite Retirees of State Bank are paid pension the basis of their pre-revised salary as per the bipartite salary scales. In the case of 8th bipartite Retirees only Award Staff and O Ms are getting pension at the rate of 50% of their last drawn salary. All remaining ranks senior officers get their pension at the rate of 40% of their last drawn salary. In all other banks pension is calculated on the basis of 50% of the last drawn salary. The State Bank pensioners continue to suffer at the hands of Bank and Government of India, Ministry of Finance. There is no logic in paying 40% pension. This system

does not exist anywhere in the country.

All efforts to persuade the bank to rationalize the pension of State Bank employees could not yield any success. The Federation of the pensioners finally took a decision to file a special writ petition in the Supreme Court of India. After 2 years the Supreme Court transferred the petition to Delhi High Court. The Delhi High court unfortunately has clubbed our case with some other cases of Jharkhand High Court and the case now is slated to be heard on 25th of September 2014. The long delay in getting justice has sent a wave of frustration in the SBI pensioners across the country. The Federation has requested the United Forum of Bank Unions (UFI) to pay atterntion to the vows of the Bank pensioners and help in removing the injustice.

The Representatives of United Forum of Bank Unions recently met with the Finance Minister for directions to the Indian Banks Association to finalize the wage settlement. The matter, it is reported, is under consideration in the Finance Ministry. The Bank Unions are promising that they will strive for improvement in the pension scheme in the Banking Industry. Our past experience has been disappointing. Let us hope that wiser counsel will prevail this time and the unions will actually work for the improvement in the pension scheme.

In every meeting the members have been expressing their anger on the present state of affairs. They probably feel that the Federation/Asociations are not doing enough for the benefit of pensioners. We request the members to be patient and do not get carried away by rumours. Your representatives are aware of your frustration and are striving to work for the benefit of pensioners.

(Excerpts of Circular of SBI Pensioner Federation.-Ed.)

Courtesy: RB Kishore.