Saturday, June 13, 2015

Who is responsible?

Who is responsible?
You might have read my post titled “ Pension Fund and 2% load”
Wherein I have raised the following questions:
Now my doubts are
1. Whether union representatives are members of any governing board of Pension Fund?
2. If not, Why? After all, the fund belongs to employees.
3. Whether Union people have access to read Income /Expenditure account and
Balance Sheet of the fund?
4. Whether unions are aware of what is the income generated in this fund every year?
5. Whether Bank is contributing 10% of Basic Pay of all employees every month to Pension Fund?
(or contribute some funds at their will and pleasure. )
Whether Banks have contributed the 2/3 amount of additional cost, as accepted by in 9th B.P.S?
Replies received under RTI act by some interested comrades, reveals that Pension Fund is not maintained as if it should be maintained.
6. My question is, if any document containing the projection of additional cost due to merger of D.A to Basic Pay with 15% loading is given to UFBU?
7. What is the additional cost mentioned by IBA?
8. Whether unions have analysed and come to a conclusion?

9. On what basis UBFU accepted the proposal of loading 2% only on Basic Pay?
(Which is not a practice in previous occasions)
Members have the right to know about this decision.
*********
Now , AIBOC have come forward and replied for the above (Not for all questions)
AIBOC circular No. Ref: IBA/2015/68 Dt. 12.06.2015 says….
“While on several aspects of pension improvement, IBA has been repeatedly forwarding the plea of cost burden but at no point of time during negotiations, authentic data has been presented in support of its contention.
On the contrary, authentic pension fund data categorically reveals that as on 31.03.2014, the corpus of Pension Fund stood at about Rs. 1,14,000/- crores.
More importantly Pension Funds of Banks are in surplus consecutively over the years and such surplus is growing year by year despite the fact that Banks have failed to provide for the required sum in pension funds as agreed in Bipartite Settlements.
Under these circumstances, demands of retirees for improvement in Family Pension in line with RBI, 100% DA neutralization to pre Nov 2002 retirees as also updation of Pension, cannot be delayed/ denied.”
To read full circular go through my previous post.
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Then, how unions have accepted the proposal of 2% load, when no authentic data or estimate is given by IBA?
Whenever there was a meeting with IBA, UFBU will issue circular detailing the issues discussed ,
and viewpoints of IBA and unions.
In 30 months of negotiations this issue of loading 2% ONLY ON Basic Pay is not mentioned in any of the circulars.
At what point of time, this proposal was placed by IBA and what was the stand taken by individual unions?
What are the arguments/data placed by IBA in support of 2% load?
Why this issue was guarded secretly from employees until 23.02.2015?
Employee came to know only after signing of the minutes.
Many youngsters think that this issue is going to affect only those who are retiring during this settlement. But, as Unions you may be aware of that this issue is going to affect new generation employees more severely.

Who is responsible for accepting this decision?
Most of the employees who comment on this page point fingers towards Com. C.H.V/AIBEA.
I don’t want to go into these accusations at this juncture.
I wish to ask the other 8 unions, After signing the settlement are you all are not responsible?
By shifting the blame on Com. C.H.V/AIBEA , can all of you wash of your hands?
If all the decisions are taken by Com. C.H.V/AIBEA only, and all of you sign on the dotted lines
as directed by him, What is the purpose of running different unions?
Even after 20 days no union has explained why they accepted for this proposal.
(which is not a practice in previous settlements)
AT least, now come openly and explain what made you to accept this proposal.
************************

17 comments:

Anonymous said...

What was the substantive offer when employees received none, at least do you union leaders got or not. If not why you signed, instead of good opportunities to strike and make the govt kneel down.

Anonymous said...

Now I appreciate you for puttingforth the above though bit late. All union under the banner of UFBU with the weapon of bipartite mercilessly murdered their own comrades. They failed to show transparency of bipartite talk and cunningly hided the secret of 2% load until they have signed the minutes. Even after that also they did not open their mouth and give clarity on this. We comrade with self study understood after release of settlement. Not only denial of levy but also remaining unaffiliated to any union will be henceforth the act gentle comrade.

Anonymous said...

For not contributing 10% Of basis of all employees of banks in pension fund attracts legal action against banks under PF/Pension act and also under company act.We must File case in HIGH COURT againsts defaulted Banks and Officers responsibes.And also against IBA officials for not taking steps to safeguard the interests of employees and retirees.

Anonymous said...

The pension fund belongs to the pensioners and they have every right to insist on publication of investment details, MANDATORY contribution by the banks and the balance etc., If banks are not contributing to the fund, whether the statutory auditors role needs to be probed. Are the auditors not verifying and certifying correctly. If pensions are being taken for a ride on this matter it does amounts to a financial scam by the banks and a thorough probe is required. IT IS QUITE DISHEARTENING TO NOTE THAT THE UNION LEADERS ARE PARTICIPATING IN THE MANAGEMENT OF THE PENSION FUND INCLUDING THE ROLE OF SIGNATORIES FOR THE INVESTMENT DECISIONS. Truth will prevail only if any PLI is filed and the court gives direction for proper implementation and also the Institute of Chartered accountants realise the role of the auditors and pass strict instructions to the auditors to certify the annual reports only after verifying the contributions made to the pension fund. Now who has to bell the CAT.........

Anonymous said...

As regards UFBU is concerned only two are the major constituents. Only is AIBEA (representing the clerical0 and AIBOC (officers). Even is AIBOC, its major constituent are SBI officers and generally AIBOC leaders worry about the SBI officers only. AIBOC is bothered only with regard to increase that would be given to them in SBI over all other bank employees. Hence, AIBEA only should take up the major issues concerning bank employees in general. However, the comrades led by CHV mortgaged the rights of bank employees and got their coffers filled in by Bank management and IBA. Whether the AIBEA leaders now only knew that banks were not contributing to pension fund. They knew this well in earlier instances also as their leaders were in the board of banks as employees representatives. However, now there is no point in lamenting. All the employees should resign enmass from the union and approach courts for restoration of their levels of pay atleast with Group B service of Central Government. NOW WITH THE 10th BIPARTITIE WAGE REVISION, the STARTING SALARY OF A PO IS ONLY EQUAL TO GROUP C OF GOVERNMENT EMPLOYEE IN 6th PAY COMMISSION. WITH 7TH PAY COMMISSION, THE CLERK SALARY OF GOVERNMENT EMPLOYEE IS MORE THAN BANK SCALE III OR ATLEAST II. LONG LIVE CHV LED COMRADES.

Siva Subrahmanyam kv said...

At this juncture of our life, having been sailed in this great banking industry, that too in PSBs, we DON'T want any EXPLANATIONS. We just want errors' correction with betterment. The forces behind the IBA must be made accountable for throwing all of us into unbalanced economic equilibrium. AIBOC must file suit in honourable Supreme Court. We too deserve 30%, 20%, 10% HRA. Our New Pay Scales must get the improvement by 90% over the existing pay scales of IXth BPS. A section of the UFBU only got benefited. NO TRANSFERS, HAPPY WITH EVEN LOW PAY & ALLOWANCES. But, the OFFICERS are suffering with those percentages. Instead of asking for PAY COMMISSION and catering of budgeting for PSBs' NEXT WAGE SETTLEMENT by the Central Govt., a section has already started that the next one to be given to individual banks and then also these unique players play their role. AIBOC must understand the agony of suffering officers and must step up it's efforts for betterment in Xth BPS and also to demand for PAY COMMISSION for XIth BPS.

Shankar Krishnamoorthy said...

Dear kumar another best effort by you exposing our great leaders though very late. They are very much aware of all the pros n cons of the settlement one year back but kept all under cloud ;we cannot expect any reply /satisfactory reply from them

kamal basha said...

Dear com.Kumar, You have asked several questions which are lingering in the minds of lakhs and lakhs of employees. Had these people have signed the settlement under some kind of compulsions, let them come out openly then, it will pave the way for reopening of the Agreement. Mere shedding of crocodile tears will not be suffice (AIBOC letter after putting the last nail on the coffins of employees. CHV has not done even that lip service but boldly come out for levy). With regard to contribution to pension Fund, all must write to SEBI, complaining of wrong financial statements and false audit reports. A copy must be endorsed to the governing body of Chartered Accountants for doing an act of 'Sathyam Computers' in Banks and deregister all such Auditors for turning a nelsons eye on less/no provision for the expenditure.

iqbal singh said...

Hiding the facts and sacrificing interest of retirees is great betrayal

Anonymous said...

They have money and power. They have IBA on their side. They know how to annihilate dissent. They have some strong supporters around them to constantly applaud them to get some favour from them. They know that this hue and cry will subside in no time. They can easily tackle the new recruit who are more interested in Fb, cricket and chat. This is the state of affairs with the organizations where all are educated. You have asked who is responsible. Only we are responsible.

Anonymous said...

this is the worst settlement compared to any of the settlements ever signed. Please oppose this and condemn this settlement with your leaders and pressure them to reopen the same and improve. Even the new generation bank employees also worst hit in the long run as special pay of 7.5% is not taken into account for superannuation benefits. For those who retire during the application period of this settlement i.e. from 01.11.2012 to 30.10.2017 this settlement is reducing their pension a lot.

JAAGO EMPLOYEES JAAGO AND PRESSURE YOUR UNIONS / ASSOCIATIONS TO REOPEN THE SETTLEMENT AND IMPROVE OTHERWISE YOU ARE GOING TO LOOSE A LOT DURING REST OF YOUR LIFE. DONT BECOME HIZDAS NOW. OTHERWISE YOU WILL BECOME HIZDAS FOR THE WHOLE OF YOUR RETIRED LIFE.

Anonymous said...

Jaago employees and oppose the settlement in wholesale. Your Hizdaa leaders have sold your interest to IBA. Both Old and New generation employees are losers. Have guts to tell the blunder committed by your Hizdaa Leaders on their face. Ask them to reopen the settlement and improve. otherwise you will also prove that you are also Hizdaas like your leaders.

Anonymous said...

Dear Mr. Kumar, I would like to blame u first. Now u r blaming all ufbu unions that even a single union is not ready to disclose the secret of 2% loading of basic pay till the last moment. The same was expressed by your followers many time in your blog in various articles. But u told that time "believe unions they will do betterest at last". But happened is nothing. Now u r raising questions. Its good for nothing at last. As a social blogger Having much more analytical capacity qlwith more followers, u have to give your comments, suggestions, ideas and everything well in time i.e. at the time of settlement negotiations. Now we r in line to accept whatever it is. Its well said in TAMIL " KAN KETTA PINNE SOORIYA NAMASKARAM".

Anonymous said...

your motive is to shield the AIBEA/CHV only that it is exposed. But in every wage negotiation AIBEA plays a dominant role. Majority of AIBOC leadership concerns about SBI officers only. Others are insignificant in the negotiation. IBA also pays less importance to the suggestions of the splinter group.During my long association with bank union activities I firmly belief that AIBEA is the main factor. I asked the BEFI leadership why only 2% is given on basic after merger after 22/2/15 MOU. He had replied the same that AIBEA is the main factor in the wage negotiation . AIBEA leadership confirms the same with 56 inches chest that they are main constituent of UFBU. AIBEA leadership always involves in more trade union activities than AIBOC, the second factor of UFBU as AIBOC leadership is not professionally trade union activist except some leaders like R N Godbole or Shanta Raju or P K Sarkar. AIBOC leadership trade union activities are limited to drawing room only.As the AIBEA leadership follows TU activities like a professional politician, they can feel the pulse of its members. This MOU has been inked out to satisfy the young bankers who want cash benefits and the grade IV staff, 90% belong to AIBEA, want more cash benefits. So keeping all these factors in mind CHV/AIBEA has signed the agreement.

Anonymous said...

This is totally a treacherous and nefarious settlement.Both the IBA and UFBU have colluded to loot the poor bank pensioners of their pensions. Totally criminal people how can they justify deduction in pensions payable. Are these communist principles? Is this leadership has sense of responsibility. They kill their own membership for their own ulterior self interest, ultimately they will kill the banking industry..God save these rogues and knaves give them some wisdom. They have divided and killed the banking fraternity and will pay for their 6 decades sins. Totally succeeded in ruining the banking staff and retirees.

Anonymous said...

I am of the view that pre nov 2002 Bank retirees will get 100%DA neutrilisation only and only throw SUPREME COURT as officials of MOF will never allow 100%DA neutrilisation come what may.

Anonymous said...

You are talking about the atrocity entered in the name of settlement by our comrade unions with managements. You determine first you belong ti comrades or unions.. Unions are worse than laskare thoiba.