Wednesday, September 8, 2010

COMMENTS ON RECENT WAGE/PENSION SETTLEMENTS

WAGE REVISION
1.  PERCENTAGEWISE NOT GOOD! NOT BAD!
2. PASSING POWERS NOT INCREASED. GOOD!
   IN THE PAST SPL.ASST POWER WAS INCREASED WITHOUT COMPENSATION.
3. ONE MORE OPTION TO PENSION ACHIEVED. GOOD!
4. SPL. ALLOWANCE TREATMENT VERY BAD
   LOSE TO PERMANENT ALLOW ANCE HOLDERS.
   GAIN TO THOSE WHO DOES NOT TAKE ANY RISK.
   TO FUFILL  IBA’S DESIRE.TO MAKE 4 DIGIT SALARY  TO 5 DIGIT SALARY FOR NEW RECRUITS.
   NO MORE ATTRACTION. A STEP TOWARDS ABOLISH SPL ASST. POST.
5. OTHERS HESITATE TO TELL OPENLY.
    PARITY BETWEEN CL AND SS NARROWS DOWN. (1.12)
BETWEEN CL AND OFFICERS WIDENING. (2.33)
6.  ACCUMULATION OF P.L.  NOT ACHIEVED.
7. WHY ARREARS DELAYED? TO COVER PENSION COST?
    IF PAID EARLiER WE HAVE TO RAISE LOAN TO REPAY FOR PENSION COST
PENSION:
1. ELIGIBILTY VRS  ELIGIBLE BUT RESIGNED NOT WHY?
    RICH BECOME RICHER POOR BECOME POORER.
2. DT. OF PENSION START. HUGE LOSS TO RETIREES.
3. PENALTY 156% HEAVY. WORST AFFECTED ARE RECENTLY RETIRED.
4. 2.8 TIMES OF PAY ON 01.11.07 IMPACT OF SPL.ALLOW.
    WHETHER PERMANENT ALLOW. OR ROTATION BASIS ALSO.
PAY LOW! ENJOY MORE!
5. CCA ABOLISHED WHY?
OFFICERS RETAIN CCA,
6. PENSION COST SHARING:
   LOST BATTLE WHEN ACCEPTED TO PAY.
   UNIONS TO GET MONEY FROM IBA & GIVE  IT TO EMPL. IT IS VISEVERSA  NOW
7. WHY PF OPTEES ONLY?
   DETAIL FROM LETTER .
 LFC BLOCK CHANGE. THEY HAVE NOT DEMADED ANY THING FOR CHANGE .LUCKY ESCAPE.
8. WELL IS PENSION BENEFIAL? YES PROVIDED : LIVE UPTO 60 MUST . MORE THAN 65
   TO ENJOY THE FRUIT!
9. IS BEFI CORRECT ON SIGNING! YES ! TO ALLOW PF OPTEES TO SWITCH OVER
   THOUGH AT  SOME EXTRA COST! IF SIGNED WITH PROTEST LIKE WHAT INBEF DID, WE CAN
FIGHT FOR REOPENING LIKE IN THE PAST.
10. WHAT TO DO NOW? KADAPPARAI AND SUKKU NOT  POSSIBLE
     FIGHT IN THE COURT! TRY TO GET INSTALMENT RECOVERY TO EASE OUT THE ANGER!
11. WE FORGET ONE THING! YES IT IS COMPASSIONATE  APPT/COMPENSATION!
       IRUNDAVARGALAI  PATTRI  IRRUPPAVARGAL  KAVALAI PADAVITTAL,
      IRUPAVARKALAI  PATTRI  IRRUKKAPOKIRAVARGAL  KAVALAI PADMATTARGAL.
12. NEW PENSION SCHEME : THOUGH WE FEEL IT WILL NOT GO IN THE RIGHT WAY, THE
  POSITIVE FEATURE IS: BANK IS GOING  TO CONTRIBUTE 10% OF BASIC PAY+D.A
  NOW D.A. IS 39.60% SAY 40%  THUS CONTRIBUTION IS 14% ON B.P, AND IT WILL RISE EVERY QUARTER,
13. BANK IS READY TO  SPEND 10+13=23% FOR EXISTING PENSION EMPLS.
      BANK IS READY TO SPEND  10+4=14% FOR THE FEATURE EMPLS.
    BUT POOR PF OPTEES NOT ABLE TO GET ANYTHING MORE THAN 10%
  FURTHER HIS SHARE IN WAGE REVISION  ALSO TAKEN TO SERVICE PENSION.
 THUS LET US CROWN “ NO.1 E.V”  IN THE WHOLE WORD TO  PF OPTEES IN BANKS.
14. HOW MUCH A PF OPTEE HAS LOST FOR SERVICING PENSION  FROM THE THREE
  WAGE REVISIONS? A TEST CALCULATION  FOR A SENIOR MOST EMPLOYEE:
FROM DATE
BASIC PAY
(INCLUDING SPL.P
+PQA+FPA)
PERCENTAGE
TAKEN
AMOUNT
PER MONTH
R.D PERIOD
R.O.I
M.V

01.11.1997
Rs.12145
8.25
Rs1001
150 MONTHS
8.5
266523

01.11.2002
Rs.19070
9.25
Rs.1763
90 MONTHS
8.5
220272

01.11.2007
Rs27310
13.00
Rs.3550
30 MONTHS
8.5
118940

TOTAL UPTO
30.04.2010





Rs.605735


BASIS FOR CALCULATION: IN THE WAGE REVISION DOC.WORD USED IS “ADDITIONAL PENSION COST”
AND NOT “INCREMENTAL COST”
IN THE WAGE DISTRIBUTION CHART RELEASED BY UNIONS/ASSNS.
 13% AMOUNT IS MENTIONED AS 154.95(SBI)+400.54(OTHER PSBS)=555.49 CRORES.
TOTAL EMPLOYEES CLERK+SUB-STAFF+PTS=458347(SBI+PSBS)
AMT TAKEN PER HEAD IS Rs.12119/- PER YEAR i.e 1010/- PER MONTH
THEREFORE  AMT TAKEN FROM  A SENIOR MOST CLERK   IT MAY BE CORRECT (3550 AS IN
THIS TEST CASE.)
IF MY CALCULATION SEEMS TO BE WRONG ANYBODY INCLUDING UNION/ASSN.
 LEADERS MAY CALCULATE COREECTLY AND INFORM ME .
FURTHER   UPTO  30.10.2012 PF OPTEE’S  WAGE WILL BE A REDUCED ONE TO THE TUNE OF 13% OF B.P THAT WILL ALSO TO BE CALCULATED.
15 . DEMANDS OF PF OPTEES:
A)  REFUND WHATEVER MONEY TAKEN FROM PF OPTEES (FROM 01.11.1997) TO SERVICE PENSION FOR PENSION OPTEES.
B) DEDUCT PF AT THE RATE OF 10% ON BASIC PAY+D.A FROM 01.11.1997 AND CREDIT PF A/C.
   (AS  BANKS HAVE INCURRED EXPENTITUR  18.5% T0 23% FOR PENSION OPTEES)
C) IN FUTURE WAGE REVISIONS  DO NOT DEDUCT  ANYTHING FROM PF OPTEES TOWARDS                   PENSION COST.

16.      WHAT  FOR AN EMPLOYEE BECOME A MEMBER OF ANY UNION?
  WITH THE HOPE THAT UNION WILL INSULATE HIM FROM THE ATTACTS OF MANANGEMENT
AND IMPROVE THE MONETARY BENEBIT AND SEERVICE CONDITIONS.
BY SIGNING THIS 9TH BIPARTITE UNIONS  HAVE NEITHER INSULATE NOR IMPROVE
BUT STABBED THE EMPLOYEES ON THE BACK
WHAT ARE THE OPTIONS AVAILABLE BEFORE EMPLOYEES?
A) AVAIL PENSION OPTION,QUIT UNION.
B) AVAIL PENSION ,GIVE SUBSCRIPTION AND BECOME SILENT. i.e NOT PARTICIPATING ANY
  PROGRAMMES, NOT RESPONDING TO ANY CALL BY UNIONS.
C) JOIN ANY FORUM THAT FIGHT LEGALY FOR PF OPTEES CUTTING ACROSS UNION AFFILIATION.
D) JOIN ANY UNION CLAIMING TO SAFEGUARD, AND CLAIMING TO BE SAVIOR OF
PF OPTEES.
E)ACCEPTING UNION DECISION, DIGEST THE TERMS (2.8 TIMES) AND CONTINUE TO WORK
AS A MILITANT UNION MEMBERS.
HOW MANY EMPLOYEES WILL CHOOSE THE OPTON ‘E’?  HARDLY  ………%
THEREFORE UNIONS SHOULD NOT BE OF THE THINKING THAT EVERTHING WILL COME TO NORMALCY
AS TIME PASSES BY.
ACT NOW, OTHERWISE EVERITHING WILL GO OUT OUR HANDS.
THE SHIP ALONG WITH PASSENGERS WILL………….

P KUMAR   vetrinicchayam@yahoo.co.in

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