UNION BANK RETIRED
EMPLOYEES' ASSOCIATION
Several friends are anxiously inquiring by telephones and by meeting personally about the progress / developments in the on-going negotiations for 10th BP Settlement and more specifically inquiring whether it will benefit the pensioners.
All the retired employees of various Banks have seen earlier nine BP Settlements. There are several bottle necks and road blocks in the negotiations every time. This time, it seems, most of the obstacles are cleared by now. The negotiations are going on at a slow pace, but satisfactorily. However, it seems that many matters are yet to be sorted out among the constituents of United Forum of Bank Unions and then with the Indian Banks' Association. Therefore, it is probable that final agreement will not be reached within 90 days as agreed in MoU. The talks may continue even after 90 days, as more rounds of talks will be necessary.
As regards pensioners, our legitimate demands and expectations are as under.
All the retired employees of various Banks have seen earlier nine BP Settlements. There are several bottle necks and road blocks in the negotiations every time. This time, it seems, most of the obstacles are cleared by now. The negotiations are going on at a slow pace, but satisfactorily. However, it seems that many matters are yet to be sorted out among the constituents of United Forum of Bank Unions and then with the Indian Banks' Association. Therefore, it is probable that final agreement will not be reached within 90 days as agreed in MoU. The talks may continue even after 90 days, as more rounds of talks will be necessary.
As regards pensioners, our legitimate demands and expectations are as under.
Improvement in Pension
Up-dation
100% neutralization of dearness relief to pensioners retired prior to 1st November, 2002.
Family Pension - flat 30% (on the line of pensioners of Central Government and Reserve Bank of India) instead of present tapering rates 15/20/30% in our Banks.
Reasonable - uniform Medical Assistance Scheme for retirees of all the Banks
Our apex organization - All India Bank Retirees' Federation, during last three years, has done its best to high light and ventilate our demands at all levels viz. the Government, the Indian Banks' Association and various constituents of the Uniform Forum of Bank Unions.
Several leaders of the constituents of the United Forum of Bank Unions have repeatedly assured in various forums and in their circulars that they are fully seized of the retirees' issues and will do their best to redress / settle our grievances / demands along with the revision of salary and service conditions of the employees in service.
It is categorically agreed between the negotiating parties that the total monetary load of 15% will be only on salary slip components of the employees in service. Financial burden for changes in (i) medical assistance scheme for serving and retired staff as well as (ii) for improvements in pension, if agreed, will be computed over and above the 15% agreed in MoU.
On the other hand, Bankers are repeatedly expressing their financial constrains owing to decreasing profitability and increasing non performing assets of most of the Banks. The government has made its stand clear saying that the public sector banks have autonomy to decide these issues.
Even amidst such contradicting situation / circumstances, we are optimist to get reasonable benefits out of this 10th BP Settlement. However, obviously, first the matters pertaining to serving employees will be discussed and finalized. Our issues will be discussed and settled during last rounds of talks. It is, therefore, not possible to predict anything at this juncture that how much improvements in pension and medical assistance scheme will be there and from which date. Obviously when nothing tangible is discussed yet, why to make mere forecasts.
Whatever news / circulars we are getting from various sources in this regards are promptly sent to all of you by e-mails. As a matter of policy, our Association is reproducing / forwarding only those messages / circulars which are received from substantially reliable sources. We can not be instrumental in spreading any rumor or hearsay.
Please, therefore, wait and watch patiently the developments, which are taking place in the on-going BP Talks.
With good wishes,
Yours sincerely,
Up-dation
100% neutralization of dearness relief to pensioners retired prior to 1st November, 2002.
Family Pension - flat 30% (on the line of pensioners of Central Government and Reserve Bank of India) instead of present tapering rates 15/20/30% in our Banks.
Reasonable - uniform Medical Assistance Scheme for retirees of all the Banks
Our apex organization - All India Bank Retirees' Federation, during last three years, has done its best to high light and ventilate our demands at all levels viz. the Government, the Indian Banks' Association and various constituents of the Uniform Forum of Bank Unions.
Several leaders of the constituents of the United Forum of Bank Unions have repeatedly assured in various forums and in their circulars that they are fully seized of the retirees' issues and will do their best to redress / settle our grievances / demands along with the revision of salary and service conditions of the employees in service.
It is categorically agreed between the negotiating parties that the total monetary load of 15% will be only on salary slip components of the employees in service. Financial burden for changes in (i) medical assistance scheme for serving and retired staff as well as (ii) for improvements in pension, if agreed, will be computed over and above the 15% agreed in MoU.
On the other hand, Bankers are repeatedly expressing their financial constrains owing to decreasing profitability and increasing non performing assets of most of the Banks. The government has made its stand clear saying that the public sector banks have autonomy to decide these issues.
Even amidst such contradicting situation / circumstances, we are optimist to get reasonable benefits out of this 10th BP Settlement. However, obviously, first the matters pertaining to serving employees will be discussed and finalized. Our issues will be discussed and settled during last rounds of talks. It is, therefore, not possible to predict anything at this juncture that how much improvements in pension and medical assistance scheme will be there and from which date. Obviously when nothing tangible is discussed yet, why to make mere forecasts.
Whatever news / circulars we are getting from various sources in this regards are promptly sent to all of you by e-mails. As a matter of policy, our Association is reproducing / forwarding only those messages / circulars which are received from substantially reliable sources. We can not be instrumental in spreading any rumor or hearsay.
Please, therefore, wait and watch patiently the developments, which are taking place in the on-going BP Talks.
With good wishes,
Yours sincerely,