AIBEA has issued a circular previously to inform how much benefit will be , if updation of pension is done.
(Based on RBI pension updation).
In that circular they have done some basic error and the resultant increase also lesser percentage.
I have commented on the circular for the mistake.
Now they have rectified and issued a fresh circular.
Pl. note that this is only an explanation circular for pension updation.
We retired bank employees have to go a long way to achieve the demand of pension updation.
Let us hope it will come within our lifetime.
********
If updation is achieved for Public sector Banks,
Increase in example 3 will not be 14%.
It will be around 2% only (!)
As out of 15 % increase only 2% is given effect for retirement benefit.
For those who retire after 31.10.2012 , increase will depend on the outcome of 11 th BPS.
(Based on RBI pension updation).
In that circular they have done some basic error and the resultant increase also lesser percentage.
I have commented on the circular for the mistake.
Now they have rectified and issued a fresh circular.
Pl. note that this is only an explanation circular for pension updation.
We retired bank employees have to go a long way to achieve the demand of pension updation.
Let us hope it will come within our lifetime.
********
If updation is achieved for Public sector Banks,
Increase in example 3 will not be 14%.
It will be around 2% only (!)
As out of 15 % increase only 2% is given effect for retirement benefit.
For those who retire after 31.10.2012 , increase will depend on the outcome of 11 th BPS.
Everything depends on sucessful completion of 11th BP settlement.
ReplyDeleteYOUR COMMENT ON EXAMPLE 3 THAT the increase will be 2 PERCENT may be correct. But the multiplication figure of example 1& 2 will also be affected/ reduced equally .Because the increase is cumulative percentage of increase in example 3. Unless the special pay is merged with basic pay, the calculations will be wrong and will yield reduced revision of basic pay for all.
ReplyDeleteYou are right.If we have a chart of revised pension already introduced in RBI, our confusion will be cleared.That can be had from any RBI pensioner.
ReplyDeleteCSP: Corporate Salary Package: Companies have arrangements with SBI for providing salary accounts to their employees with various concessions and benefits. These accounts are called as Corporate Salary Package accounts. The benefits given to the account holders are out of the scope of this question.
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ReplyDeleteSir, small doubt. Original version of bank pension acquired from central GOVT. Further changes on pension RULES done by CGOVT NOT INCORPORATEED.33 YRS NORM ELIMINATED BUT HOLD BY BANKERS. WHO AFFECTED ONLY EXSERVICEMEN AND WIDOWS REEMPLOYED IN BANK. THIS DEFINITELY RELEVANT. CGE BAGS. YOU SATTISFIED WITH PERISHED NEGOTIATIONS. I came and I go. BUT for thoughts.
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