Saturday, July 25, 2020

14% and NPS


In the MOU signed on 22.07.2920 it is stated that Employers contribution to NPS will be 14 % (enhanced from 10%) from prospective date.
i.e. from date of settlement.

Is it an achievement of UFBU?

Certainly not.
How?
UFBU has not at all demanded an increase in contribution to NPS in their charter of demand.
(You can even now check it, if you have a copy)
Instead UFBU asked for old Pension Sheme for all.

Then how it happened?
Central Government has increased the contribution towards NPS to 14% for their employees from 01.04.2019.

Banks implemented NPS scheme for employees joining on or after 01.04.2010, on the same terms and conditions of Central Government NPS scheme.

It is clearly spelt out in
9th Bi Partite settlement as follows:

"15. Provident Fund
(d)  There shall be  no Provident Fund  to employees joining the  services of  banks on or after  1st  April 2010. They  shall be covered by a Defined Contributory Pension Scheme,  where the employee  will  contribute 10%  of Pay plus Dearness  Allowance and the  bank will make a matching contribution. The Scheme shall be  governed by the  provisions of the Contributory Pension Scheme as  introduced for employees of Central Government  with effect  from 1st  January 2004 and modified from  time to time." 

Therefore it is automatic change that should be implemented from 01.04.2019.
Whereas for Bank Employees it will be implemented from Oct, or Nov 2020 only!

Now tell me is it achievement of UFBU?
********************************
In the same way present Medical Insurance Policy for Serving as well as for Pensioners is proposed by IBA only in 10th BPS and not by UFBU.
It was not demanded in Charter of demands.

In the same way one day
"5 Day Week" will be proposed by IBA and implemented.
Let us wait for that Day!!
😜😜😜




4 comments:

Anonymous said...

The above post and the true fact is a slap on face of UFBU leaders.
They are simply GOOD FOR NOTHING.
The other article (No democracy in UFBU) where leader of one minority union leader is seeding crocodile tears now and issuing circular stating he signed the MOU inspite of having so much reservation and this sort of things is happening since last 3 BPS, please answer- what you have learned from the past mistakes? Why you are still part of UFBU then? And most importantly, why you are continuing leading the your Union? You should introspect.
The leaders of majority unions who are playing this dirty game with aspersions of lakhs of common Bank staffs: All will find a place in HELL for betrayal and killing dreams of Bank employees.
IBA & MDs of Banks doing this hard negotiations and constantly downgrading the life of Bankers: They are simply hopeless because they are not outsiders. They grow from scale 1 officers to MDs and must have felt the pain of each BPS for 20/25 years. How can a person forget past humiliation? Only 1 good posting, 1 good placement after retirement. Each of you are part of history. Yours signature will be there and remind every banker the bad you have done for the Banking fraternity. Bankers are there own enemies.

Anonymous said...

The above post and the true fact is a slap on face of UFBU leaders.
They are simply GOOD FOR NOTHING.
The other article (No democracy in UFBU) where leader of one minority union leader is seeding crocodile tears now and issuing circular stating he signed the MOU inspite of having so much reservation and this sort of things is happening since last 3 BPS, please answer- what you have learned from the past mistakes? Why you are still part of UFBU then? And most importantly, why you are continuing leading the your Union? You should introspect.
The leaders of majority unions who are playing this dirty game with aspersions of lakhs of common Bank staffs: All will find a place in HELL for betrayal and killing dreams of Bank employees.
IBA & MDs of Banks doing this hard negotiations and constantly downgrading the life of Bankers: They are simply hopeless because they are not outsiders. They grow from scale 1 officers to MDs and must have felt the pain of each BPS for 20/25 years. How can a person forget past humiliation? Only 1 good posting, 1 good placement after retirement. Each of you are part of history. Yours signature will be there and remind every banker the bad you have done for the Banking fraternity. Bankers are there own enemies.

DKSRAJU said...

Sir,since SPL allowance Basic not merged,thePQP,FPP must be increased by 7.75%to compensate the retirees loss

Raghubir said...

4% extra is available to NPS holders only. In this the pension optees have been cheated there for pension optees. To equalise pension holders atPar NPS holders by treating basic pay inclusive of special pay while keeping in view the surplus funds availability & for NPS benefit of 4% has already available