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.”