In their calculation they have taken retirement date in 2014 and Pension as at May 2015, to minimize the loss met out by pensioners and also to minimize the recovery of Pension from arrears.
Even then they are not able to show a plus in revised Pension.
To solve the problem they suggest investing the amount received as commutation arrears
and make up the loss. Even after foregoing the commutation arrears, Pension is not increased by 15%.
Any employee with minimum mathematical knowledge will not accept this suggestion.
Let AIBEA or any other union need not advice whether to go for
commutation arrears or not.
Let them not advice what to do with commutation arrears whether to deposit or use the funds for marriage of employees’ son or daughter.
Let the employee decide it according to his convenience.
There was no necessity to issue such circular because Salary, Pension, Commutation, Commutation Arrears all are positive/plus at that time.
In Every B.P.S, D.A is merged with Basic Pay. Because of that every time employee will get commutation arrears.
10th B.P.S. is not an exception.
Everybody knows the reason.
That is the victory of IBA in restricting the load on Basic Pay to 2%.
( I don’t want to use the word defeat of Unions, as I still want the Unions should not be defeated)
This decision will affect those who already retired, going to retire, and above all , the young generation employees Under NPS scheme. They are having another 30 years of service. Calculate the loss for them due to reducing the contribution to NPS scheme every month.
When AIBEA give suggestion to pensioners for make up the loss,
What is the suggestion for employees under NPS scheme to make good the loss?
Without accepting this fact, giving wrong suggestions to pensioners/employees will reduce the credibility of unions among employees.
Please make the newly introduced Special Allowance eligible for
Retirement benefits, if you can.
Reopening of Bipartite settlement is not new. It happened in the past.