*Review of 11th BPS!!
First of all congratulations to all Bank employees!
11th BPS is concluded after three years. Anxiety come to an end.
Every settlement has its own plus and minus factors.
This one is not an exception.
Let us start with positive factors.
Every time it was said it will be the last BPS, but it is achieved this time also.
Wage increase of 15% on pay slip component is not bad for a 5 year settlement, even though we expected a higher %
Increase of one more stagnation Increment (total 9) , change of periodicity as 2 years, given effect retrospectively is a welcome improvement. Those who retired/retiring during this BPS will be benefitted immediately.
Reimbursement of Lodging expenses while on outstation duty is long standing demand and now becomes reality.
Linking Transport allowance with D.A is good .Will increase whenever D.A increases.
HRA at uniform 10.25% is good.
NPS contribution by employer is increased to 14% is beneficial to young generation comrades. (It is as per Govt. guidelines. Unions didn't raised it in Charter of demands.)
It is to be seen whether it will given effect retrospectively or from Nov.2020.
Leave rules are changed favourably. The question is will the management sanction leave as and when required?
Improvements in LFC. Practically most of the employees avail encashment of LFC itself. Not going on actual travel.
Increase in annual Medical Aid. Employees troll about meager increase. Pl.understand there is no point , in increasing a head which is static one, does not increase with B.P and D.A. It is a once in year payment. Loading other components which are growing in nature will be a prudent decision.
Family Pension expected to be increased as per IBA's assurance. All along it is said some improvements will come in Family Pension, but, surprisingly it is expected in line with Govt.staff.
Passing powers of Clerks not increased. But, latest circular by 4 unions say it is be discussed.
Coming to minus/negative aspects….
*Again, loading on Basic Pay is compromised at 2.5% as was in previous settlement (2%). This concept was not prevailing in any Sector/Industry/Central/State/PSUs/Departments in India.
This will lead to lowest post retirement benefits among all sectors.
This provision will affect younger generation comrades by way of low NPS corpus at the time of retirement , as they are left with more number of years of service.
Spl.allowance started with 7.75% is now 16.4%
In another 25 years (5 settlement) How much % it will grow?
*Merger of Spl.allowance with Basic pay.
This demand is buried once for all.
*5 day Banking, is not accepted by Govt./public perspective
*No updating of Pension. Not moving an inch.
Only sugar coated words are coming.
*Lastly PLI concept is introduced by IBA.
Let us wait and see the effect of this in coming years.
Now, one union claims that all the achievements are because of them.
All along 9 unions are on the negotiating table.
Only BEFI exit on the day of MOU on the basis of unachieved demands. After that only distribution of load took place.
It is a collective effort of all 9 unions backed by employees.
We all think that the settlement is over.
But, 4 unions issued circular stating there are issues to be discussed.
O.k.Let them discuss, there are 2 years left in this settlement period!!