loading only 2.50% even though fund will be available,
no change on retirees' issues. Nothing positive on 5 day's week.
These are the major areas of our difference.
However better late than never.
My view reposted:
Yes, i.e. only 2% out of 15% increase will be loaded in Basic Pay.
This decision was not disclosed to employees till the date of signing the minutes.
Till the last meeting between UBFU and IBA no word is uttered about this proposal.
Only on releasing of signed minutes employees came to know this decision.
That is a back stabe by a union.
Other unions said they were not aware of this,
They have to sign on the dotted lines as prescribed by the Big brother and IBA.
But, this excuse is unaccepted by the members.
Instead , a new spl.allowance was introduced which will not be taken for retirement benefits.
Thereby member's pension was reduced by Rs.3000 to 4000 every month.
Computation and Gratuity are reduced by huge amount.
As their NPS contribution by Bank as well as employees will be reduced by 7.5% (spl.allowance and D.A.thereon) every month.
If you calculate for 35 years of service , and future increase in wage revision, annual increments & D.A., the amount will be mind blowing.
Then Seniors retired between 2012-17 will be affected by one time only.
Those retiring between 2017-22 will be affected 2 times only.
But, recruits after 2010 will be affected in all the 7 settlement.
Hence the loss will be higher and higher.
Runs to lakhs and lakhs of rupees.
But, UFBU is tight lipped about this proposal.
Whether they are opposing or accepting this proposal?
I want to remind , In the charter of demand by UFBU , it demanded the existing special allowance to be merged with Basic Pay.