ALL INDIA BANK RETIREES' FEDERATION (REGD.)
No:2020/006 10.01.2020
The Convener
United Forum of Bank Unions (UFBU)
CHANDIGARGH
Dear Comrade, Re: Updation of Basic Pension of Bank Retirees.
We request you to kindly refer to our letter no. 2020/003 dated 03.01.2020 offering some suggestions to achieve demand of updation in the forthcoming settlement.
2. We now find that next round of negotiations is scheduled to be held on 13.01.2020. Further, on the basis of information we are getting from reliable sources that MOU on wage settlement may be signed shortly.
3. However, at the same time, we find that on updation issue things are moving slow. Still there is no consensus on the name of Actuary among UFBU constituents to be suggested to IBA on cost study even after lapse of more than one month on IBA agreeing to engage common Actuary for the purpose of cost study on updation.
4. In view of the slow development on the issue and as well as inputs we are getting, there is growing impression among retirees that Updation demand may not be finalized before conclusion of the settlement and may be kept as pending issue under residual list which need further discussion and negotiation.
5. We are afraid, in case of the above development on updation, there will be unthinkable and unimaginable frustration, anger and disappointment among lakhs and lakhs of bank retirees. During last a few months, in view of positive developments on this front like sanction of updation by the government in RBI after waiting of more than 10 years, IBA agreeing to examine and discuss updation demand during the settlement, to engage independent actuary on consensus basis and most of UFBU constituents taking open stand to work and resolve updation issue during the settlement, strong belief has developed among retires that updation will become reality in the settlement.
6. You will kindly appreciate that majority of the retirees who need updation urgently are more than 70 years old. Many are above 80 and some of them are 90 years and above. In case they are asked to wait further on this demand, you can very well understand and appreciate their level of frustration and anger which is likely to become uncontrollable and which may create huge dent and setback to entire retiree movement which has given new hope and confidence not only to the existing retirees but lakhs of employees who are going to retire in next few years. We are of the view that this demand has larger magnitude and consequences which cannot be narrowed down in some arithmetic data. It will not be out of place to mention that along with bank retirees , lakhs and lakhs of retirees from financial sector like LIC, GIC, Insurance companies retiree are also keenly watching on the development on updation issue in this settlement in banking industry.
6. It is strong feelings among retirees that issues kept under residual list are normally unduly delayed for long period and most of the times they are addressed after 5 years in next settlement.
7. We humbly request UFBU leadership to take all possible steps to ensure that the updation demand is sanctioned before signing of the settlement. You will kindly agree that this time , this demand has reached very close to the settlement due to the efforts of UFBU leadership, sustainable campaign of retiree organisations and overall environment and government mood and stand on this issue. We are of the view that this is now achievable with some strategy and cooperation and support of UFBU. In view of this, AIBRF strongly feel that this demand can be clinched and request UFBU leadership to consider waiting for some extra period if needed for completion of cost study and negotiation with IBA.
8. We have given several suggestions on updation demand for your consideration in our above referred letter. We request you to kindly consider them in the forthcoming meeting of UFBU to be held before next round of negotiation.
With Greetings,
Yours Sincerely,
( S.C.JAIN)
GENERAL SECRETARY
C.C. to All Constituents of UFBU
No:2020/006 10.01.2020
The Convener
United Forum of Bank Unions (UFBU)
CHANDIGARGH
Dear Comrade, Re: Updation of Basic Pension of Bank Retirees.
We request you to kindly refer to our letter no. 2020/003 dated 03.01.2020 offering some suggestions to achieve demand of updation in the forthcoming settlement.
2. We now find that next round of negotiations is scheduled to be held on 13.01.2020. Further, on the basis of information we are getting from reliable sources that MOU on wage settlement may be signed shortly.
3. However, at the same time, we find that on updation issue things are moving slow. Still there is no consensus on the name of Actuary among UFBU constituents to be suggested to IBA on cost study even after lapse of more than one month on IBA agreeing to engage common Actuary for the purpose of cost study on updation.
4. In view of the slow development on the issue and as well as inputs we are getting, there is growing impression among retirees that Updation demand may not be finalized before conclusion of the settlement and may be kept as pending issue under residual list which need further discussion and negotiation.
5. We are afraid, in case of the above development on updation, there will be unthinkable and unimaginable frustration, anger and disappointment among lakhs and lakhs of bank retirees. During last a few months, in view of positive developments on this front like sanction of updation by the government in RBI after waiting of more than 10 years, IBA agreeing to examine and discuss updation demand during the settlement, to engage independent actuary on consensus basis and most of UFBU constituents taking open stand to work and resolve updation issue during the settlement, strong belief has developed among retires that updation will become reality in the settlement.
6. You will kindly appreciate that majority of the retirees who need updation urgently are more than 70 years old. Many are above 80 and some of them are 90 years and above. In case they are asked to wait further on this demand, you can very well understand and appreciate their level of frustration and anger which is likely to become uncontrollable and which may create huge dent and setback to entire retiree movement which has given new hope and confidence not only to the existing retirees but lakhs of employees who are going to retire in next few years. We are of the view that this demand has larger magnitude and consequences which cannot be narrowed down in some arithmetic data. It will not be out of place to mention that along with bank retirees , lakhs and lakhs of retirees from financial sector like LIC, GIC, Insurance companies retiree are also keenly watching on the development on updation issue in this settlement in banking industry.
6. It is strong feelings among retirees that issues kept under residual list are normally unduly delayed for long period and most of the times they are addressed after 5 years in next settlement.
7. We humbly request UFBU leadership to take all possible steps to ensure that the updation demand is sanctioned before signing of the settlement. You will kindly agree that this time , this demand has reached very close to the settlement due to the efforts of UFBU leadership, sustainable campaign of retiree organisations and overall environment and government mood and stand on this issue. We are of the view that this is now achievable with some strategy and cooperation and support of UFBU. In view of this, AIBRF strongly feel that this demand can be clinched and request UFBU leadership to consider waiting for some extra period if needed for completion of cost study and negotiation with IBA.
8. We have given several suggestions on updation demand for your consideration in our above referred letter. We request you to kindly consider them in the forthcoming meeting of UFBU to be held before next round of negotiation.
With Greetings,
Yours Sincerely,
( S.C.JAIN)
GENERAL SECRETARY
C.C. to All Constituents of UFBU
44 comments:
Why this constant begging. Updation of retirees pension will be done only by reducing pay hike of serving employees.
Everyone knows this is going to last bipartite settlement
Most of the retired staff fully enjoyed their banking life no late sitting no third party products selling. In fact NPA norms came into force since 1992. So those who retired 20 25 years back did not face any pressure of NPA recovery. Almost everybody got nice overtime. Many retired staff paid off their loans from overtime. Now these people want to continue enjoyment ag the age of 80 and 90 that too when young officers are suffering and facing life and death situations daily. Why retirees wants to make life of young officers more miserable by forcing lower payrise to serving staff.
80 % psu banks are not in a position to give any payrise beyond 12 to 14% to serving staff leave aside pension updation. If pension updation is to be done then IBA will say I have only 15 to give. If pension updation costing is 3 then I will give only 12 for serving staff with no merger of special pay and no 5 days week.
Friends are you ready to accept lower pay rise just to accommodate pension costing.
Most importantly we young officers are covered under NPS so we are not going to br benefited by these pension updation even after our retirement. Why should then we suffer to fund the pension updation cost.
Remember any single rupee pension updation will directly come from reducing serving staff pay rise. Especially serving NPS staff will and should go to court against this injustice since we NPS people are not going to get any updation benefit even after our retirement.
Just now heard a rumour that a group of officers under NPS are fully ready to file a WRIT PETITION in Kerala and Kolkata High Court if any such injustice is done while signing the settlement.
Another thing. What was the foregone Bank contribution to PF of these retirees when they retired ? A retiree of 80 years age had given away max to max 1.50 lacs bank contribution PF against which they are today getting pension of approx. 12500 p.m. I.e.1.50 lacs per annum which effectively is 100% interest rate. Are you crazy? How can you expect 100 % return on investment when FDR rate is not more than 6.75%
Please dont distract the main issue of wage revision percentage because of these old retirees. Youth has to be adequately compensated.
Cotrect. That's my point.
This is nothing but highest level politics played by IBA and children of prostitutes I.e. CHV and Bandlish
What happened today apart from lunch?? Updates please asap
Lunch is still going on. After that tea biscuit will arrive. At 5.00 p.m. after cake and pastry is over everyone will go home. Then UFBU leaders will think what new story to cook up for telling their cadres ? Then they will take our last time letter, change the date and say same things. This will go on endlessly.
Friends I am warning you.....till all of us dont make CHV and Bandlish NAKED and hang upside down and give RED CHILLI SMOKE.....this tamasha will go on....
Sorry Bankers Today's one more round Fail...for bipartite discussion.
Ha ha ha. Once again it has been decided to clinch quick wage revision. Next date follows....
A big fart on every bankers face by iba and ufbu
Friends I am warning you.....till all of us dont make CHV and Bandlish NAKED and hang upside down and give RED CHILLI SMOKE.....this tamasha will go on....
Friends I am warning you.....till all of us dont make CHV and Bandlish NAKED and hang upside down and give RED CHILLI SMOKE.....this tamasha will go on....
Friends I am warning you.....till all of us dont make CHV and Bandlish NAKED and hang upside down and give RED CHILLI SMOKE.....this tamasha will go on....
We got information today no conclusion on bipartite next round in Feb 2020
FAIL FAIL FAIL, all hopes lost.....
Friends I am warning you.....till all of us dont make CHV and Bandlish NAKED and hang upside down and give RED CHILLI SMOKE.....this tamasha will go on....
Ha ha clinch quick wage revision....
Talks failed.
IBA improves offer to 12.50% with 2% rise in basic and remaining 10.50 in other allowances
Merger of special pay into basic OUTRIGHTLY REJECTED by IBA
5 days banking OUTRIGHTLY REJECTED BY IBA
Why bastard union leaders of AIBEA have not given INDEFINATE strike call in today's meeting itself.
Just when everything was going going good during the meeting, bastard CHV suddenly FARTED loudly so IBA got angry and rejected all main demands
The boarders here should pass comments only after doing some homework. Many of them do not know that pension is paid out of pension fund which is having such a huge balance that IBA can easily consider doubling the payout without much debt to the pension fund. The second aspect is regarding the contribution made for banks growth, sacrifices and pains undergone by the pensioners. They worked in manual environment by handling ledgers which were thousand times heavier than the mouses that are held today. Those were
the days when balancing and tallying of ledgers were causing much pain to the eyes. Today's generation does not know how interest calculations are done, how overdues are calculated etc. Today's bankers are slaves to computer systems and what these system permit is taken as banking. The pensioners are the reason for creating employment opportunities for youngsters as could be said from the fact that their one-to-one relationship with customers brought business and growth to the banks unlike today's faceless banking. Much can be written on the pains undergone by the pensioners but will stop here and leave it to the wisdom of readers to judge the issue.
Strike strike strike only 0.25 after 4 months of waste. Shameful. From november to february only Clinch quick wage revision. Shameful. We want indefinite strike.
It was stopped long back in 1984
Every time has its own implications.now NPS contribution is on da also and it is going tone 14%.
But banks contribution to pension fund is 10% of basic. However pension updation is not going to burden NPS contributors.Though there is considerable increase in work load technology has made banking quite easy compared to earlier days
All your facts are wrong. You say such large pension fund that payout can be doubled...is false.
Further huge overtime and zero late sitting no NOA recovery. TOMEPASS JOBS by y retirees
Mr. Logical guy please consult any union leader of your choice and ascertain the pension funds position and comment thereafter. 2. You talk of huge overtime, no recovery etc. Please be informed that in those days the luxury of click of a button was not there and work was to be completed manually. Today banks are not only paying very high salary to the employees but are also investing crores and crores of rupees on technological tools to make things easier for employees. As for npa, the growth in recent years is high and the present bank managements should take the blame and not those who retired. As for your last comment, please note that you also will have to become a retiree some day and the next generation of employees will pass same comment on you.
Intentional delay on the part of Iba as well by the union leaders. History of wage settlement shows nothing is without struggling, wasting time be evaluated by giving indefinite strike
Oh my dear Illiterate friend are you really mad or pretending to be mad. 40 years back people have literally enjoyed....its a fact. Nowadays constant transfers, instability of work life balance, too much job stress, unbelievable work pressure, mad like technological changes, daily facing customer abuses due to connectivity failure issues......what have you bloody retired oldies cannot even imagine.
I know of innumerable examples where people have repaid their housing loans just out of terrific overtime. Just an example our boss in Bank of India openly used to describe how he repaid this entire housing loan within 6 to 7 years due yo overtime money. He showed me old salary slips for 30 years where for almost 25 years he got overtime almost 40% ,of his gross salary.
Dont try to justify your TIMEPASS JOBS. You such a fool .....till 10 years back there was literally no meaningfull hard core NPA monitoring. Credit monitoring was practically absent 15 years back. What you bloody people did manually everybody knows.
There are uncountable examples of how bank staff used to bunk work and enjoy cinema at nearby theatre that too during office time.
You are really a crackpot when you say one day everybody will retire and so pension updation will be beneficial to everybody. NO NOT AT ALL. You bastard forget that we who are NPS staff will be getting market linked fixed annuity and not like your DA linked pension.
Why should we NPS staff suffer lower pay hike just to feed old Beggars who are trying to cut our food to fill you tummies.
Moral of the whole long story ......Pension updation issue has damaged the entire wage settlement process.
Bloody retirees are comparing how RBI sraff got pension updation. These old bastards forget that RBI gave pension updation outside wage settlement. RBI gave pension updation in May 2019 to all its retired staff whereas their serving staff got settlement in Aug 2015 which clearl evidence that in RBI PENSION UPDATION was done OUTSIDE WAGE SETTLEMENT.
PENISION UPDATION ISSUE HAS DERAILED ENTIRE WAGE NEGOTIATION PROCESS.
40 years back people have literally enjoyed....its a fact. Nowadays constant transfers, instability of work life balance, too much job stress, unbelievable work pressure, mad like technological changes, daily facing customer abuses due to connectivity failure issues......what have you bloody retired oldies cannot even imagine.
I know of innumerable examples where people have repaid their housing loans just out of terrific overtime. Just an example our boss in Bank of India openly used to describe how he repaid this entire housing loan within 6 to 7 years due yo overtime money. He showed me old salary slips for 30 years where for almost 25 years he got overtime almost 40% ,of his gross salary.
Dont try to justify your TIMEPASS JOBS. You such a fool .....till 10 years back there was literally no meaningfull hard core NPA monitoring. Credit monitoring was practically absent 15 years back. What you bloody people did manually everybody knows.
There are uncountable examples of how bank staff used to bunk work and enjoy cinema at nearby theatre that too during office time.
You are really a crackpot when you say one day everybody will retire and so pension updation will be beneficial to everybody. NO NOT AT ALL. You bastard forget that we who are NPS staff will be getting market linked fixed annuity and not like your DA linked pension.
Why should we NPS staff suffer lower pay hike just to feed old Beggars who are trying to cut our food to fill you tummies.
Correct
Perfectly right
Ha ha ha retirees ka kela kat liya illogical gay ne
Please learn to use better language as you are highly literate holding a respectable position in a bank and come from a respectable family. The pensioners do understand your pain and expect you to reciprocate. One of the comments in the earlier chat was meant to state that the next generation will also comment on your generation as time pass generation similar to what you are commenting now and it was not about NPS as you have taken to understand. 2. One important facility enjoyed today by serving employees is medical insurance which has been deprived to pensioners. This carries huge value to serving employees. I know it is difficult to mend preconceived and misinformed opinions and hence close my views with these comments and leave the arena open to you to derive satisfaction.
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