Dear Editor,
Referring to above post under
your blog a sample calculation is furnished here under as desired on
reduction in net Pension payable to pre 1.11.2012 Bank Pensioners under
latest Bank Wage Revision Settlement ( 10th Bipartite settlement between
Bank Unions and IBA/7th Joint Note for officers.)
Pay scales of Bank Officers and employees under 10th Bi partite
wage revision/Joint Note have already been agreed between United Forum
of Bank Unions(UFBU) and Indian Banks Association(IBA) and final
settlement will be signed on 25th May at Mumbai.
As per agreed terms DA at CPI level of 4440 points will be merged
with existing Basic Pay and further load of 2 % on above with DA there
on will be added to arrive new Basic Pay under 10th BPS.
Thus the existing Basic Pay of an officer with Rs.20100 may go up to Rs 32850 on latest wage revision.
The
following illustration will give a broad idea on this negative impact
on Net Pension under 10th BPS to pensioners those who retire after
1.11.2012.Though there is slight increase in gross pension,net pension
will be reduced as shown below , due to increase in commuted portion
based on revised higher basic pay.
Though total load factor is agreed at 15% under 10th BPS only 2% is added to Basic Pay and remaining goes under allowances.
Mohan.P
(Bank Pensioner)