In my every minute diary dated 24/02/2015 I had raised the issue of Retirees/Pensioners as the Bank Retirees Pension is freezed on retirement as it is not revised as per bipartite wage revisions between the IBA and the Bank Unions. One of the para of my earlier post dated 24/02/2015 read as under:
"While
revising the wages, the pensioners are denied the benefit of revision
as pensioners can not strike work to force the government to recognise
their long unblemished service of 35 to 40 years. Pensioners would have
not demanded any revision in their pensions had the cost of living been
arrested by the Government. It is unjustified on the part of any
government to freeze the pension of Bank Pensioners. One more
interesting fact is that a person who took birth on 31/10/1952, due to
God's wish and not his or her on choice, retired on 31/10/2012 will not
get the pension as payable to his or her counterpart retiring on
01/11/2012 due to none of his or her fault. To remove such anomalies
Government should revise the pension of bank pensioners on every wage
revision."
As per the broad
settlement inked by IBA with Bank Unions the final agreement was to be
inked within 90 days that is up to 23/05/2015 along with residual issues
including the issue of revising the pension of the existing retirees
and pensioners. But the existing bank pensioners have been left high and
dry to fend for themselves and the bank unions are likely to ink the
final wage revision with IBA on or before 25/05/2015. I fail to
understand the intentions of the Bank Unions and IBA to keep on
deferring the final wage revision for 90 days. I think that Bank Unions
and IBA do not like to make public the final agreement before signing so
that the bank employees may not critically examine the settlement. In
this era of "Right to Information" the bank employees have every right
to know the blueprint of the final agreement well before signing it by
the IBA with Bank Unions.
As per unconfirmed
reports a new interesting scenario about the fate of future retirees has
emerged and it has been inferred by calculative bank employees that
future retirees of the banks will get lesser pension as compared to the
retirees who retired on or before 31/10/2012. The IBA has thus killed
two stones with one bird. The existing retirees who retired on or before
31/10/2012 will not press for revision of their pension as their
pension will get reduced whereas the existing employees will be loser by
getting lesser pension as per classic example below:
November 2012
|
November 2012
|
Shortfall or Surplus |
9TH BIPARTITE
|
10TH BIPARTITE
|
Not Applicable
|
B.PAY = 20100
|
B.PAY= 32850
|
NA
|
B.PENSION=10050
|
B.PENSION=16425
|
NA
|
DA=76.50%=7688.25
|
DA=10.90%=1790.32
|
NA
|
LESS 1/3 = 3350.00
|
LESS 1/3 = 5475.00
|
NA
|
NET PEN = 14388.25
|
NET PEN=12740.32
|
(-) 1647.93
|
MAY 2015
|
MAY 2015
|
NA
|
9TH BIPARTITE
|
10TH BIPARTITE
|
NA
|
B.PAY=20100
|
B.PAY=32850
|
NA
|
B.PENSION=10050
|
B.PENSION=16425
|
NA
|
DA=110.70%=11125.35
|
DA=33.70%=5535.22
|
NA
|
Total = 21175.35
|
Total= 21960.22
|
NA
|
LESS 1/3= 3350.00
|
LESS 1/3 = 5475.00
|
NA
|
NET PEN= 17825.35
|
NET PEN=16485.22
|
(-) 1340.13
|
As illustrated above
apart from injustice done to the existing bank retirees and pensioners
without resolving their demands/issues - the IBA has, under 10th Bipartite Settlement,
added insult to the injury of the future retirees as the negative
impact of the settlement, as above, will result in lesser pension to
post 30/11/2012 retirees but for the increase in commuted value of the
pension.
Therefore it is time for
the existing retirees and future retirees to join together and continue
the fight against the mighty forces behind the denial of genuine
demands of retirees.