Saturday, January 30, 2016

DA payable to retirees from the month of Feb 2016 to July 2016 - 62 slabs increase

Average Index

Dearness Relief to Pensioners who retired on or after 1st Day of January,1986
but before 1st Day of November,1992/ 1st July 1993.


Basic Pension:

Over 600
Up to 1250
1251 to 2000
2001 to 2130
Above 2130


Dearness Relief to Pensioners who retired on or after 1st Day of November,
1992/ 1st July 1993.

Up to 2400
2401 to 3850
3851 to 4100
Above 4100

over 1148

Dearness Relief to Pensioners who retired on or after 1st April,1998.
Upto 3550
3551 to 5650
5651 to 6010
Above 6010

Over 1684

Dearness Relief to Pensioners who retired on or after 1st November ,2002.

Over 2288

Dearness Relief to Pensioners who retired on or after 1st November,2007

Over 2836

Dearness relief to Pensioners who retired on or after 1st November,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

Wednesday, January 27, 2016

Minister of State For Finance advises MOF and IBA to call tripatite meeting on retirees issues

Mr.Jayant Sinha Minister Of State for Finance  advised IBA and Finance Ministry to call for immediate tripartite meeting of IBA, UFBU and Retired Bank Employees Organisations.We reproduce below a post from bankpensioner google group.
Meeting with Minister of State For Finance

On 19 01 2016. a delegation of Forum of Retired Bank Employees (FORBE) led by veteran trade union leader Mr.K N L Rao, Founder President of Canara Bank Retired Employees Organisation (CBREO) met Mr. Jayant Sinha, Honourable Minister of State for Finance in his home office. The delegation included other prime office bearers of FORBE. The meeting took place at the initiative of FORBE. The delegation included M/s. M D Deshpande, President FORBE, Mankeshwar, S V Chowdhary, Vice Presidents Tatte, EC Member, Sharad Sathe, Vice President CBREO, A N Madhusudan, General Secretary CBREO, D K Badarinath, Office Secretary CBREO.

A memorandum was submitted to the hon’ble minister on behalf of Forum, wherein, some of the major issues relating to retired employees of public sector banks which require the intervention of Finance Ministry, Banking Division were detailed. The meeting was attended by the members of the delegation, Mr. Mohan V Tankasale, Chief Executive Officer of IBA and some of the officials of finance ministry.

The memorandum submitted to the Honourable minister contained the details of the following areas:

01. 100% DA Neutralization of those retired prior to   
02. Updation of Family Pension.
03. Revision in Ex-Gratia to those who retired before 
04. One more option of pension to those who had resigned
      from service and to CRS officers
05. Regular revision of basic pension along with wage 
06. Interpretation and implementation of Regulation 56 of 
      Bank Employees Pension Regulations 1995.
07. Implementation of Regulation 26 of Bank Employees 
      Pension Regulation 1995.
08. Incorrect fitment of pay after promotion resulting in 
      reduction of pay.
09. Denial of one additional stagnation increment to those   
     who were in service as on 01.11.2012 and retired before 
10. Representation of Retirees’ Organizations’ in bi-partite 
      talks with IBA.
11. Bringing Indian Banks’ Association under Right to 
      Information Act 2005.
12. Accountability and fixing of responsibility of Indian Banks’
     Association as it is a representative of managements of  
     various banks
13. Anomalies in Medical Insurance scheme by the service 
      providers by their unilateral action.

Mr. K N L Rao initiated the talks and highlighted several issues affecting the retired bank employees, including 100% neutralization, revision of basic pension, medical insurance and others.

Honourable Minister, Mr.Jayant Sinha gave a patient hearing to the delegation. Later he informed the delegation, the constraints being faced by the public sector banks and also the government to meet the demands of the retired bank employees. He wanted to know the cost outgo from the banks, if all the demands of the Forum are to be met by IBA / Government. The members of the delegation brought to the notice of the minister that all the issues covered in the memorandum does not include cost outgo and that there are several issues which are non monetary in nature. They also informed the minister and other officials that the pension fund in all the public sector banks is quite robust and does not need support from government to meet the expenses towards 100% neutralization and / or revision of family pension.

Other major issue discussed was medical insurance for retired employees formulated by IBA. One of the service providers M/s. United India Insurance company have withdrawn some of the services already agreed upon by them, after getting the premium amount from the retired employees. The glaring example is denial of coverage to domiciliary treatment and non coverage of existing diseases, while the same are covered in the scheme formulated by IBA. This has caused frustration amongst the retired employees who have opted for the insurance scheme.

Another issue was that the Umbrella organisations of retired bank employees have not been invited by IBA while negotiating the wage revision of bank employees. Since the UFBU did not take up the cause of retired employees during the recently concluded wage settlement, gross injustice has been done to various demands of retired employees. Hence, the minister was requested to advise the IBA and others concerned to include the organisations of retired employees for negotiations in future wage settlement.

After listening to the above, finally, the honourable minister advised the CEO of IBA and finance ministry to call for immediate tripartite meeting of IBA, UFBU and Retired Bank Employees Organisations numbering five, to discuss the issues of the memorandum and for redressal of the same.

The delegation thanked the honourable minister for giving his valuable time to the delegation and also for having given a patient hearing.

After the meeting, it was decided to send a letter to IBA formally, about the meeting and also for calling for a meeting of the concerned.

Later, the delegation met Ms.Sumitra Mahajan, Honourable speaker of Lok Sabha The delegation also met Mr. Prakash Javadekar, honourable minister for Environment and Forests at his office on 19 01 2016.

Wednesday, January 20, 2016

Terms & Conditions of Group Medi-claim policy issued by United India Insurance Co. Ltd for future renewal

Following are the terms and conditions on which mediclaim policy will be renewed for the retirees by United India Insurance Company Limited

(1) Company will continue cover for next 3 years
(2) The policy will be renewed on the following premium

Claim Ratio Discount/ Loading to the Premium

Not Exceeding 25 %                                       40 % Discount

Not Exceeding 30 %                                        35 % Discount

Not Exceeding 40 %                                        25 % Discount

Not Exceeding 50 %                                        15 % Discount

Not Exceeding 60 %                                        05 % Discount

61 % - 110 %                                                   No Discount no loading

111 % - 115 %                                                 05 % loading

116 % - 120 %                                                 07 % loading

121 %- 125 %                                                  10 % loading

126 %- 130 %                                                  13 % loading

131 % - 135 %                                                  15 % loading

136 % - 140 %                                                 18 % loading

In view of the above next year premium for renewal will be as under depending on claim ratio.

Sum Assured               Minimum                      Maximum

For Rs 3 Lakhs      Rs. 2958 plus taxes     Rs 5817 plus taxes

For Rs 4 lakhs       Rs. 3948 plus taxes     Rs.7756 plus taxes

AIBRF has written a letter to the Chairman, Insurance Regulatory & Development Authority India (IRDAI) regarding grievances of retirees against the insurance company which has issued mediclaim policy (under IBA scheme).

Source:AIBRF Website

Saturday, January 16, 2016

Letter from Department of Financial Services ( DFS ) to Chief Executives of all PSBs

In a surprising move, Department of Financial Services   (DFS) , GOI  has sent communication to Chief Executives of all public sector banks asking them to initiate process of  negotiation for next wage settlement and conclude it prior to the effective date of 1.11.2017.  Probably, it is the first time;  the government has taken initiative to commence process of negotiation so early. AIBRF has welcomed the move hoping the bank managements and unions will start the process in  all seriousness. However there is no mention regarding retirees'  issues in the letter.

Click here to view the letter by DFS

Source AIBRF website