* CHRONICLE - PENSIONERS CONVERGE HERE, DISCUSS ISSUES OF THEIR CHOICE * CHRONICLE - WHERE EVEN THE CHAT COLUMN PRODUCES GREAT DISCUSSIONS * CHRONICLE - WHERE THE MUSIC IS RISING IN CRESCENDO !

               
                                   

Thursday, September 07, 2017


Senior citizens’ group

This put a cloud over the wage revision decisions of 2002 and 2007, which stays unresolved till date. The issue affects a senior citizens’ group comprising a few ex-gratia beneficiaries (aged 90 plus), family pensioners and pensioners numbering a few thousand.
The RBI maintains a pension fund created out of surrendered value of its contribution to provident fund, otherwise payable to employees, and additional contributions from its income every year based on actuarial calculations to meet present and future pension liabilities.
“Among retirees who have died and those who survive are individuals who have contributed to the RBI’s growth and reputation, which, if converted into ‘equity’ would get converted to several crores considering its present value,” says a retiree.
Another wrote to the Governor, saying, “The waiting has been gruelling. It would be graceful on the part of the bank to be kind enough to give the final word, positive or otherwise, without further delay and allow us the luxury of a peaceful exit.”

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