Saturday, May 30, 2015

Record Note dated 25/05/15 on issues relating to retirees - AIBRF requests UFBU to clarify position and stand of UFBU on it

We reproduce below circular issued by AIBRF regarding Record note dated 25/05/15 

 Ref: 2015/190 Date 28.05.2015
Shri M.V.Murli
Convenor, United Forum of Bank Unions
Dear Sir
Re: Record Note dated 25.05.15 on issues relating
       To Retirees.
We have come to know that while signing wage settlement on  25th May, 2015, separate Record Note of discussion on retiree  issues was signed jointly by IBA and 9 constituents of UFBU.
2. We find from this document that in its opening Para , IBA
has made statement “ any demand of retirees can be examined as a welfare measures as contractual relationship does not  exist between banks and retirees “ Further it is observed that  unions have not recorded their view points on this issue separately in the document thereby endorsing the stand of IBA  while signing it.
3. As you are well aware that pension scheme applicable in the  banking industry is Defined Benefits Pension Scheme and has been designed on the models of pension schemes applicable in the government sector and Reserve Bank of India. Basic principle and premises of pension scheme applicable in banking industry and those in Govt./ RBI is that pension payment to retirees is nothing but DEFFERED WAGES and is legal right  enforceable in court of law. This right has been acquired with long drawn battles by working class of the country. The status  of deferred wage to pension has been confirmed in several  judgements delivered from time to time by courts of the  country including Supreme Court. As you know this principle has been laid down by 5 judges constitutional bench of  Supreme Court in the famous case of Nakara Versus Union of  India. The courts have further ruled that the provisions of  pension scheme under concept of deferred wages need to be  reviewed periodically along with the wage revision of  employees.
4. In view of this we are of strong view that it is not correct for
IBA to say that demand of retirees can be examined as welfare measure only and contractual relationship does not exist between banks and retirees and this statement is an attempt to reverse the hard earned legal rights of retirees and working class with serious repercussions in the coming years.
5. Considering the seriousness of the issue, we shall feel
obliged if you will clarify the position and stand of UFBU on it.
With Respectful Regards
Yours Sincerely
( S.C.JAIN )


AIBRF has also issued a circular presenting detailed analysis on various aspects / points covered in the Record Note  and future action plan.

Click here to view AIBRF circular

Monday, May 25, 2015

10th Bipartite Settlement / Joint Note signed today between IBA and UBFU

10th Bipartite Settlement / Joint Note signed today at Mumbai beween IBA and UFBU. Nothing is mentioned in favour of retirees in current settlement. Hospitalisation / Medical Expenses reimbursement scheme may be extended to retirees on payment of premium. Record note on discussion of  retirees'  issues between IBA and UFBU is released  by  IBA / UFBU.

Click here to view Record Note on Retirees' Issues

Click here to view 10th Bipartite Settlement

Click here to view Joint note regarding officers wage revision.

Saturday, May 23, 2015

10th Bipartite Settlement - Delegation of AIBRF to IBA

We reproduce below the circular issued by AIBRF.


Shri T.M.Bhasin
Indian Bank Association (IBA )

Dear Sir
Re: Delegation of AIBRF 

 We have come to know that IBA is going to sign wage     settlement with bank unions on 25th May 2015 at Mumbai.

2.Further we have come to know that IBA is not sanctioning and including any of the demands of past  retirees in the settlement to be signed on 25th with unions. It is also surprising to learn that total pension of those retired after 1-11-2012 will get reduced in absolute term after signing the settlement affecting them adversely. Further this settlement has been finalised without taking our organisation in to confidence.

3. In view of this position, settlement to be signed is not acceptable to us and we have decided to observe 25th May ,2015 as PROTEST DAY. We shall hold demonstration at Azad Maiden, Mumbai on this day between 10.30 AM to 12.30 PM where we expect large number of retirees to participate in it.
4. We wish to submit Memorandum highlighting our issues in delegation for your consideration and appropriate action. We shall be thankful to you if you will give time to our delegation to meet you and handover the memorandum.

Thanking you

Yours Sincerely

( S.C.JAIN )


Monday, May 18, 2015

10th Bipartite settlement - Retirees Issues

From various sources it is clear that retirees issues like pension updation, 100% D.A. neutralisation, improvement in family pension etc. will not be taken care in the 10th Bipartite settlement which will be signed by UFBU and IBA on 22nd May 2015. UFBU leaders who assured publicly that they will not sign Bipartite settlement without retirees issues , now have changed their stand and are willing to sign the settlement without retirees' issues. There is a feeling of betrayal among retirees who were relying on promises of UBFU. The process of bipartite negotiations  continued for last 30 months and at the fag end of negotiation process UFBU agreed  with IBA to  sign the settlement without resolving retirees issues.

  In this regard AIBRF (All India Bank Retirees Federation) has issued circular on further course of action.