Monday, February 23, 2015

WAGE REVISION SETTLED IN TODAY's MEET - 15% HIKE W.E.F 1.11.2012


In todays (23rd Feb'15) wage revision talks held at Mumbai, under 10th BPS, by Bank Unions (UFBU) with IBA has settled at 15% hike (Rs.4725 cr) w.e.f 1.11.2012.

2nd and 4th Saturday's will be holidays and other Saturday's will be full working days. Strike deferred .

Now let us hope that retirees issues will also resolved in coming days.


Click here for IBA Circular  



Saturday, January 31, 2015

Increase in D.A. for pensioners w.e.f. Feb 2015 - 51 slabs more



D.A. Rates for Pensioners (%) – 51 Slabs More


Retired prior to 01-11-1992 - 1293 Slabs over 600 points
Upto 1250    1251-2000    2001-2130    Above 2130
866.31%         711.15%     426.69%        219.81%
After 01-11-1992 upto 31-03-1998 - 1156 Slabs over 1148 points
Upto 2400    2401-3850    3851-4100    Above 4100
404.60%       335.24%        196.52%        104.04%
After 01-04-1998 upto 31-10-2002 - 1022 Slabs over 1684 points
Upto 3550    3551-5650    5651-6010    Above 6010
245.28%        204.40%       122.64%        61.32%
Retired on or after  1-11-2002 - 871 Slabs over 2288 points
For the entire Basic Pension Amount    156.78%   
Retired on or after  1-11-2007 - 734 Slabs over 2836 points
For the entire Basic Pension Amount    110.10%     





D.A calculator is available for calculating revised D.A. and difference. For calculating D.A , enter basic ( original basic without reducing commutation amount) and click on the calculate button. Revised D.A , Present D.A. and difference will be displayed on the calculator. Select appropriate retirement date range according to the date of retirement.


 
Click on the following link for  D A Calculator. 


  
D.A. Calculator




Friday, January 9, 2015

Bipartite talks - Pension related issues - UFBU circular

UFBU has issued a detailed circular regarding bipartite meeting held between IBA and UFBU at Mumbai on 7th Jan 2015. Relevant para from UFBU circular is reproduced below.
Quote
Pension related demands:
We also raised the issues relating to improvements in Pension related demands like 100% DA for pre-Nov. 2002 pensioners, family pension formula, periodical updation of pension, etc.
We also suggested that DA upto 4440 points for all pensioners should be merged with Basic pension and a uniform DA formula to be applicable to all pensioners.  We also demanded extension of DA linked pension scheme for employees recruited after April 2010.
It was agreed to discuss all these issues further. 
Unquote 




Friday, December 26, 2014

Developments in RBI on Pension Updation Issue

Retirees in RBI are also fighting for updation of their pension. Towards this, representatives of employee unions and retirees met RBI Governor, Dr. Raguram Rajan at Kolkata on 10.12.2014. While showing full sympathy on demands of retirees he responded as under as per the communication issued by retiree organisation in RBI
“The Governor gave an attentive hearing and appreciated our
agony. He told that he is fully aware of this issue of the retirees and trying to sort it out. He mentioned that he talked to earlier F.M., Shri Chidambaram and Govt. was agreeable to consider this issue subject to certain conditionalties. RBI had complied with all formalities vis-à-vis the Government but meanwhile Govt. had changed. He said that change of Secretaries of Department of Financial Services in quick succession and also a new Finance Minister being there in place of earlier one has affected the progress in the matter. He told that he has met the new F.M. twice on this issue but then the file did not come to him. He repeated that RBI has complied with all formalities and now it is for them to respond. The Governor, however, felt that issue might not be resolved before finalization of wage talks in the banking industry, as otherwise there might be complications.  He, however, said to continue to pursue the matter, as  Government is bound by its earlier  commitment.”

Sunday, September 28, 2014

Bipartite talks between IBA and UBFU on 26th Sept 2014 - Pension related matters

We reproduce below relevant paras from the circular issued by UFBU regarding bipartite talks held between IBA and UFBU on 26th Sept 2014.
 Quote
 Pension related matters i.e. 100% DA on pension for pre-Nov. 2002 retirees, improvement in family pension, provision for periodical updation of pension

After discussion, IBA informed that they are inclined to favorably consider the demand of 100% DA on pension for pre-Nov. 2002 retirees.  IBA further informed that cost aspect on improvement in family pension is being worked out and they would soon take a decision on the same.  IBA responded positively on this issue. As regards updation of pension, IBA informed that in view of the high cost involved, it would be difficult to agree to the same.  On our insistence, IBA agreed that any viable and affordable proposition from the UFBU in this regard would be examined.

Unquote

UBFU has decided to go on agitation path as they are not satisfied with offer by IBA regarding wage revision.  Agitation program includes demonstrations  and one day strike.