Positive chances of Pension Updation
From: Shri. P. Mohan
To bankpensioner google
Nov 7 at 10:10 AM
Dear Friends,
As we are aware AIBRF as well as constituents of UFBU have already calculated the cost on updation on pension and published the details earlier.
For the information of all the details on on cost on updation(made by AIBOA) is reproduced here under:
“In respect of updation of pension at 40% updation, on the lines of central government pension rules for retirees prior to the date of the present pay commission period, upto the retirees of the period i.e. 31.10.2002 and 50% updation for the retirees after 01.11.2002 [since for them 100% DA has already been implemented and the 40% updation for them would be adverse] the annual
costing comes to Rs.431 crores.
If pension updation is done at 50% of the notional pay taking all retirees basic pay to the equivalent stage in the present scale of pay effective from 01.11.2007, then the annual cost of pension updation for the 1,23,500 retirees comes to about Rs.1082 crores.”
‘Calculations have been done on exact basis though the number of retirees from sub staff cadre to the General Manager cadre in respect of all the retirees from
01.01.1986 may vary based on certain number in each stage of retiral level. It can very confidently be said that the cost mentioned cannot be more than the above working and hence cannot go beyond this amount. In fact, cost would be less only.
For information of all concerned, it is stated that the total establishment expenses in the banking industry as of 31.03.2012 for the entire in-service employees and
officers - numbering about 8,00,000 - as has been furnished to the Negotiating Unions for the X Bipartite settlement/Officers wage revision - has been given as
Rs.56292 crores. Under this circumstance, conceding the 100% to the entire about 1,23,500 retirees comes to just Rs.291crores which would be just a meager 0.55%
of the total establishment expenses.’
For 100% DA neutralization, the cost would be as follows:
" It is found that if 100% DA is to be paid to all retirees upto 31.10.2002 for the entire basic pension instead of the present system of DA compensation which is based on four slabs of 100% for a small part of pay for
officers, 82.5% for a part, 50% for another small part and for a major part at 25% compensation of DA [Since all retirees after 1.11.2002 are being paid 100% DA on
full basic pension with single slab of DA @ 0.18% for all from sub staff to General Manager] then the annual costing of implementation of 100% for all past retirees
comes to Rs.291 crores"
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"PATHETIC CONDITION OF BANK RETIREES
The Constitution of India provides Fundamental Rights under Chapter III. These rights are guaranteed by the constitution. One of these rights is provided under article 21 and one of them is Protection of Life ie. Right to live Life.
The Constitution of India is committed for Maintenance and improvement of public health. The meaning of the word life includes the right to live in fair and reasonable conditions.In case of need to save life Doctors assistance will be provided.
But contrary to it Indian Bank's which are considered backbone of the economy has snatched this right from the Retired employees who served nearly four decades to improve the economic condition of the nation.
After retirement at the age of 60 when they are in need of Medical aid banks does not provide any medical facility or Medi-claim insurance.Govt. of India and Bank Managements should consider plight of poor retirees and so called Sr Citizens.
Wives of many-many bank employees who retired in1980's receive Rs.1000/- as
family pension.Let all retirees across banking industry think for up-dation of pension.
Honorable Supreme Court of India in 1982 defined pension as a deferred wage payable to retirees till the date of death,which further declared that grant of pension is not a bounty but a right and a social obligation of the government under constitution.
In another judgement the court laid down that no discrimination in the matter of pension benefits can be meted out to pensioners merely on the basis of the date of retirement.
The Bombay High Court has held that pension is a vital aspect of social security and that the right to receive it constitutes a right to life under the constitution. Moreover,
it held that pension must be paid regularly in the first week of the month. To deprive a pensioner of the payment of pension is to deprive him or her of the right to life.Delayed pension payments place a pensioner in a position of uncertainty and dependence which impinges on the quality of life under article 21 and the right to dignified existence of the aged. This means pensioner could not be left to the mercy of the employer to receive what is a matter of right.
In the light of these judgments,pension is part of right to life and governments of the day should accept this reality and not encroach upon the right to life of the pensioners. Pensioners must lead their lives with a sense of self respect & dignity.
R.M.MITTAL
Ex-Chief Manager
Punjab National Bank"
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