Today meeting with IBA concluded.We have discussed mandate issues upto scale 7 n served a letter to IBA.Since AIBOC n NOBO did  not participate ,hence they have told Award unions to continue the discussion.We have also discussed five days week,regarding pension revision ,medical insurance for which they have told to discuss in MC which will held on 24th June n will intimate separately.After lunch a short committee of IBA discussed on medical insurance on problems n suggestions so that problems can be resolved n next insurance should be more transparent.In the meantime a separate meeting of UFBU of award staff held for these issues .We hope next negotiating meeting will be held shortly.

NOBW

Pension Updation

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.
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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.