UNITED FORUM OF RESERVE BANK OFFICERS & EMPLOYEES issued a circular dated 28th April 2014 the para 2 of which states:
" Bank took note of our concerns and assured that Bank would be making endeavour to address those and protect the interests of employees and retirees, regarding fixation of pay for pension, "rationalization" of perks and perquisites, alignment with the banking sector including SBI for compensation package with A+ position every five years following settlements there, appropriate amendment of RBI pension regulations etc."The circular does not detail anything further.
However,we understand from their sources that United forum has consented to the Bank's following proposals.
1. Updation of pension every ten years:
2.Bank will extend one more pension option to those who did not opt for it earlier
3.Basic pension to be based on last drawn pay instead of average of TEN months’ last drawn pay.with appropriate Amendments to Pension Regulations.
4. Alignment with Banking Industry and SBI to retain A+ position.The wages shall be reviewed and revised in the context of the settlements in the Industry.
5.Rationalization of perks.
In short, RBI would recommend the above proposals to MOF, Govt. of India for their final approval. After the GOI gives its assent , necessary instructions in the matter would be issued to the offices.
Those retirees who did not opt for pension earlier should be ready now with money to opt when the bank invites them to do so. |
UNITED FORUM OF RESERVE BANK OFFICERS & EMPLOYEES
28th April, 2014
Friends,
Undation of Pension & fresh option
Bank invited United Forum today at Mumbai for exploratory discussions on the issues of pension updation and fresh option following our meeting with the Governor in this regard on March 26. 2014. Before meeting the Bank the United Forum met with Shri Arun Samaddar (AIRBWF) in the Chair and decided to reiterate our serious apprehensions arising out of Government's communication to the Bank.
Bank took note of our concerns and assured that Bank would be making endeavour to address those and protect the interests of employees and retirees, regarding fixation of pay for pension, "rationalization" of perks and perquisites, alignment with the banking sector including SBI for compensation package with A+ position every five years following settlements there, appropriate amendment of RBI pension regulations etc.
The United Forum met new Deputy Governor, in-Charge of Administration (Shri R. Gandhi), who was greeted by us; he assured that Bank would do its best to protect the interest of its staff and would not agree to any proposal /suggestion of the Government inimical to staffs interest. We thanked him and the Governor.The United Forum took stock of the developments and Bank‘s responses. It decided to fight any unjust imposition from the Government on RBI staff, both in short term and long term, and called upon all sections of RBI staff to remain firmly united and support the collective efforts of the United Forum to clinch the issues for which we have been painstakingly trying for last more than six years, ensuring in the process sympathetic support of the RBI Central Board and successive Governors.
Let us remain alert about further developments and do not pay any heed to hearsay and rumours.
