Thursday, October 8, 2020

Pension Updation @6352 points

 AIBPARC  has written letters to Chairman, IBA and Convenor UBFU  egarding Pension Updation @6352 points.

Click here to view AIBPARC circular .



Wednesday, August 26, 2020

CBPRO letter to CEO of IBA, on need for updation of pension

Text of CBPRO letter to CEO of IBA, on need for updation of pension is reproduced below for information

 Dated: 24.08.2020

Shri Sunil Mehta
Chief Executive
Indian Banks’ Association

Respected Sir

Updation of Pension/Revision

We as a Coordination Body (CBPRO) of Five Major Organisation of Pensioners consisting of  Federation of SBI Pensioners Associations, AIBPARC, RBONC, AIRBEA and FORBE have  been pursuing the matter relating to the Updation of Pension for Bank Pensioners.

 We are  happy to learn that the matter is on the negotiating table with UFBU.

 In this connection, we  wish to submit the following for the kind and sympathetic consideration of all the parties to the Negotiation:

1) Salary Revision and Pension Revision are inseparable as pension is a deferred wage and not a Bounty as held by the Hon'ble Supreme Court of India.
2) But there had been no updation in the case of Bank Pensioners despite several Salary Revisions. Pension being a Deferred Wage its Updation/Revision is a natural corollary to wage revision.

3) The Pension Scheme in the Banks is akin to that of Government Pension Scheme and Regulations provide that in case of any doubt, a reference be made to Central Civil Pension and Commutation Rules 1972.

4) The Pension Updation is religiously undertaken for the Central Government Pensioners simultaneously with Central Pay Commissions. It is intriguing as to why the Bank Pensioners are subjected to discrimination.

5) Bank Pensioners were happy and hopeful of their Pension Updation last year when the benefit of Updation was extended to all the Pensioners of RBI w.e.f.1.4.2019. But we were again ignored.

6) It is again heartening to learn that NABARD vide its Cir. No. 733/2020 dated 20 August
2020 has decided to affect the Revision of Pension pending approval of Government of India. NABARD Has decided to grant Interim Relief @ 60% of the total amount of the notional pension based on the multiplication factors which are broadly on the lines allowed for RBI Pensioners and DA Relief thereon to those pensioners who have retired upto 31.10.2012.

The revised pension is to be paid using the following factors:
Pensioners retired between Factors
Pre-November 1992           12.34
1.11.1992-31.10.1997.         5.85
1.11.1997-31.10.2002          3.63
1.11.2002-31.10.2007          2.44
1.11.2007-31.10.2012          1.76

Since our Salary Revision due from 1.11.2017 is already settled vide MoU Dated 22.7.2020, our Pension Revision for those who retired between 1.11.2012 and 31.10.2017 is also due  and the Updation Factor for them, based on the above factors would be 1.62.

Covid 19 has taken a heavy toll of the people of this Country and also elsewhere across the world. Bank staff are at great risk in their place of work due to their nature of work. Many serving Staff are also becoming victims to the Pandemic. There is growing anxiety among
the Bank Retirees who are in the most vulnerable age group apart from various other age-related serious ailments. In the light of this also, we hope IBA will look into the Grievances and expectations of The Senior Citizens of Banking Industry from a highly Humanitarian perspective.

We, therefore request you to help resolve this long pending issue of Updation of Pension before signing the Final Settlement (11th BPS) and render justice to Bank Pensioners who have made enormous contributions to the Growth of Banking in India during their active service. Even after their Retirement, they voluntarily extended assistance to Bank Staff during the unprecedented work pressure on Bank Staff due to JanDhan Account Mobilisation Campaign, Demonetization Exercise and the other developmental activities of the Banks which they had served.

With Regards,

Yours faithfully

(Ramesh Babu) (K.V. Acharya)
 Joint Conveners, CBPRO

Saturday, August 1, 2020

D.A. payable to bankpensioners w.e.f. Aug 2020 to Jan 2020 Increase by 16 slabs

                                                                                                                           16 SLABS INCREASE

D.A.PAYABLE TO BANK PENSIONERS.w.e.f.1st AUG'2020 to 31st JAN'2021


On Or After




over 600

Upto 1250



Above 2130









upto 31.3.98


over 1148

Upto 2400



Above 4100








1.11.98 upto



over 1684

Upto 3550



Above 6010



















over 2836



RETIRED ON OR AFTER                           1.11.2012




over 4440

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

Sunday, July 26, 2020

Letter by BANK EMPLOYEES FEDERATION OF INDIA to IBA Chief Executive regarding Improvement of Family Pension and Updation/Revision of Pension

 Cirular by BEFI is reproduced below

Circular  No.45/2020

  Dear  Comrade,

 25th  July  2020

 Improvement  of  Family  Pension  and  Updation/Revision  of  Pension

We  have  written  a  letter  to  the  IBA  Chief  Executive  today  on  the  captioned subject. 

 Text  of  the  letter  is  appended  below  which  is  self  explanatory. With  greetings,
Yours  comradely, .
  (Debasish  Basu  Chaudhury) General  Secretary


A  Minute  has  been  signed  on  22nd  July  2020  between  IBA  representing Management  of  banks  which  are  parties  to  the  11th  Bipartite  Settlement  and Workmen  Unions  and  Officers'  Associations  on  wage  revision.    We  like  to  draw your  attention  on  the  following  issues.

Improvement  of  family  pension

We  came  across  a  Tweet  posted  on  behalf  of  Chief  Executive,  IBA  on  22.07.2020 (assuming  that  the  referred  Twitter  handle  is  not  a  fake  one)  where  it  was written  inter  alia,  “Today  IBA  &  UFBU  have  signed  an  MoU  for  15% increase  in  pay  slip  component  of  Bank  Employees,  in  Principal agreement  to  remove  cap  &  offer  30%  of  Basic  Pay  as  family Pension,….”.  (Emphasis  made  by  us)
 We  may  recall  that  on  22nd  July  2020,  the  Chairman  of  Indian  Banks'  Association appeared  in  the  discussion  and  stated  that  IBA  agreed  in  principle  to  enhance the  Family  Pension  to  30%  without  ceiling.   

IBA  Chairman  also  said  that  IBA  is pursuing  the  matter  in  right  earnest  with  the  Govt.  of  India  to  get  the  same approved.    We  suggested  incorporation  of  version  of  IBA  stating  in  principle
agreement  to  enhance  family  pension  to  30%  without  ceiling  subject  to  Govt approval  in  the  MOU.    But  that  was  not  done.             Now,  we  are  observing  some  reports  claimed  to  have  been  issued  on  the contents  of  the  discussion;  where  it  was  mentioned  that  increase  of  family pension  to  30%  has  been  agreed  on  22nd  July  2020.    Some  communications/ circulars  are  also  available  where  it  has  been  claimed  that,  Govt.  has  agreed  to increase  family  pension  from  15%  to  30%  without  ceiling. We  understand  that  the  status  narrated  by  the  IBA  Chairman  on  22nd  July  2020 is  factual  which  means  approval  of  Govt.  of  India  towards  proposed  increase  will be  obtained  in  due  course.    Further,  during  the  meeting  of  the  Negotiation Committee  held  on  29th  February  2020  the  IBA  informed  that  the recommendation  for  improvement  of  family  pension  had  been  sent  to  the  Govt. for  necessary  approval. Now,  the  language  of  the  above  mentioned  Tweet  tagging  ‘in  principle agreement’  with  the  MoU  signed  on  22nd  July  2020  and  the  reports  as  well  as  the communications/circulars  issued  that  the  Govt.  has  already  agreed  are  creating impression  amongst  the  bank  employees  and  retirees  that  all  formalities  for improvement  of  family  pension  has  been  completed. Had  such  been  the  situation,  we  feel  that,  it  certainly  would  have  found  a  place in  the  Minutes  signed  on  22nd  July  2020.

   Now,  the  Indian  Banks'  Association should  come  out  with  a  statement  narrating  prevailing  situation  regarding improvement  of  family  pension.   Moreover,  with  such  communications, expectations  have  developed  within  the  minds  of  the  hapless  family  pensioners, many  of  whom  are  living  in  financially  distressed  condition. 
  We  strongly  urge upon  you  to  take  all  necessary  initiatives  to  obtain  the  approval  from  the  Govt. of  India  at  the  earliest;  before  the  finalisation  of  11th  Bipartite  Settlement.

Updation/Revision  of  pension

 You  may  recall  that  during  the  negotiation,  continuing  for  more  than  3  years now,  the  IBA  negotiating  team  had  been  informing  the  Unions/Associations  that updation/revision  of  pension  require  huge  amount  of  fund. During  the  course  of  negotiation,  the  Unions/Associations,  time  and  again, requested  for  sharing  relevant  data  for  necessary  actuarial  calculation.
   It  was also  suggested  that  there  may  be  joint  actuarial  exercise  similar  to  that  done during  another  option  for  pension.    On  5th  Dec.  2019,  the  IBA  agreed  to  share
 data  with  the  actuary  recommended  by  UFBU. 

 But  no  data  was  shared  with  the UFBU  by  IBA  till  date,  as  assured. On  29th  Feb.  2020,  IBA  agreed  that  some  improvement  in  the  Pension  would  be worked  out  for  the  retirees  of  earlier  settlements  period  by  working  out  the  cost. 

 It  was  also stated  that  revision,  in  some  form,  would  be  implemented  in  phases. In  subsequent  period,  this  agenda  wasn’t  dealt  for  further  progress. 

 In  the  last round  of  negotiation  on  22nd  July  2020,  IBA  negotiating  team  formally  discussed only  on  the  load  factor  keeping  all  other  issues  aside. You’ll  certainly  appreciate  that  since  revision  of  pension  took  place  in  Reserve Bank  of  India,  the  pensioners  have  become  elated  expecting  extension  of  similar benefits  in  IBA  member  banks  also.

In  the  mean  time,  the  retirees  Associations,  besides  approaching  all  concerned for  revision  of  pension,  collected  bank-wise  data  from  different  sources  including through  Right  to  Information  (RTI)  Act  2005. 
  We  are  informed  that  one  such Retiree  Federation  collected  data  from  different  member  banks  (except  a  very few  who  did  not  respond  to  the  notice  served,  for  reasons  best  known  to  them) as  on  31.03.2017  and  31.03.2018  under  RTI  Act,  2005  and  forwarded  to  you last  year  for  having  actuarial  exercise  to  ascertain  the  cost  involvement  for revision  of  pension  as  per  formula  adopted  in  RBI.
It  is  fact  that,  despite  assurances  given  to  the  Unions/Associations  during  the course  of  negotiation,  the  IBA  did  not  share  any  data  for  actuarial  calculation.   We  are  already  having  experience  of  difference  between  hypothetical  data  and actuarial  data  during  the  exercise  on  another  option  for  pension  in  2009. We  believe  that  pension  is  a  social  security.    We  also feel  that  revision  of  pension should  not  be  considered  in  terms  of  financial  liability.    The  sanctity  of  bilateral negotiation  is  of  utmost  importance  to  us.

    With  this  understanding,  we  strongly demand  to  initiate  joint  actuarial  exercise  immediately  to  ascertain  cost involvement  for  updation/revision  of  pension  as  per  formula  of  RBI,  so  that discussion  on  this  subject  can  be  taken  forward  before  finalisation  of  11th Bipartite  Settlement. Awaiting  your  early  response  on  the  subject  matter.


Thursday, July 23, 2020

11th Bipartite Settlement Signing of MOU.

 AIBRF circular on the above subject is reproduced below
The office Bearers/ Central committee members/ State committee Chiefs.
Dear Comrades
Re; 11th Bipartite Settlement .
Re: Signing of MOU.
We are happy to inform you IBA and UFBU has signed MOU on 11th Wage Settlement in Mumbai on 22.07.2020. According to this MOU, wage increase of 15 percent has been agreed. Copy of the MOU giving complete details is enclosed for your ready reference.
(1) IMPROVEMENT IN FAMILY PENSION: We are very pleased to inform you that as per the information received, Government/ IBA have accorded approval for improvement in Family pension from present to 30 per cent of last pay drawn without any ceiling. It will provide significant increase in monthly pension of about 72000 family pensioners. This approval of 30 per cent increase without celling is better than family pension of RBI. As you know, 95 per cent of family pensioners are females who will be benefited. It is step towards woman empowerment too. Full details in this regard are awaited.
As you know, AIBRF has been raising demand of improvement in family pension for last several years and to achieve it launched several action programs from time to time, details of which are known to all of you. It is big success coming out of sustained and continuous organisational efforts. We congratulate and complement our membership and cadre for this achievement.
We convey our sincere thanks and gratitude to the Government, Indian Bank association and leadership of UFBU for accepting this demand of retirees and taking steps for final sanction.

(2) PENSION UPDATION: we understand that pension updation issue is also being addressed while working details of the settlement in next 90 days. We hope this issue will also move forward in this settlement.
(3) OTHER ISSUES: Other pending issues like improvement in ex-gratia payment to pre- 1986 retirees and their spouses , reduction in premium rates for group insurance policy are receiving attention of IBA/ UFBU and hope solution on them will come in near future.
On this occasion, We appeal to membership to show confidence in the organisation and organisational efforts .We are sure our journey to provide more and more respect and dignity to bank retirees will continue and our struggle to achieve other pending demands will continue.
With Revolutionary Greetings,
Yours Sincerely,