CBPRO letter addressed to Finance Minister on Updation of Pension

Copy of CBPRO letter addressed to Finance Minister on Updation of Pension etc is  reproduced below


Dated: 31.10.2020

Ms Nirmala Sitharaman
Hon'ble Finance Minister Government of India
North Block, New Delhi

Respected Madam.

Updation of Pension and Other Issues

We are immensely delighted to go through Your highly Inspiring Interview in Business Line dated 29th October 2020 wherein You gave genuine Accolades and Encomiums to the Services rendered by the Banking Community both Past and Present throughout and specially during the present Covid 19 Pandemic. It has also evoked Great Hopes in the minds and hearts of Bank Pensioners and Retirees who have been knocking the doors of the DFS and IBA for the last several years.

We, as the largest Coordination of various National level Bank Pensioners & Retirees Organisations (CBPRO) consisting of Federation of SBI Pensioners Associations, AIBPARC, RBONC, AIRBEA AND FORBE with a membership of over Four Lakhs, profusely Thank Your Good Self for responding so wholesomely with concern and care to the Long Pending

Grievances of the Senior and Super Senior Citizens of the Banking Industry.

Your Good Self has taken initiatives by very positively advising the Secretary, Department of Financial Services, Chairman of SBI and Chairman of IBA to render justice to us mainly on the issues concerning the Bank Pensioners and Retirees. We once again submit the list of our major pending issues hereunder

1. Improvement in Family Pension as available to Government and RBI Pensioners

2. Updation of Pension as per RBI Formula

3. Uniform DA Compensation to All Retirees without Discrimination as available to Government & RBI Pensioners

4. Reckoning of Special Allowances attracting DA for Terminal Benefits.

Respected Madam, we had elaborately explained to Your Good Self, DFS and IBA in our several Letters and Memoranda, the legal angle and Honourable Supreme Court Judgements lending legitimacy to our Requests for Updation of Pension
The Pension Fund of all the Banks is robust. It is important to note that the Pension Updation cost and any other Pension related Improvements like Family Pension and Uniform DA Compensation to All Retirees will be paid out of the Pension Fund of the Banks.

Respected Madam, as You know that the very Old Retirees prior to November 2002 are subjected to Double Jeopardy as their Basic Pension is not only very low due to continuous Non Updation of Pension but they are also discriminated against by denying 100% DA Neutralization. It is appalling to see that this has resulted in, even a General Manager retired in 1990s draws pension as low as Rs.27000/per month including DA which is much less than the Pension drawn by a Clerical Staff Retiring today. So far as the Family Pensioners(Mostly Women Spouses of Deceased Pensioners) are concerned, it is even more pitiable as their Pension including DA is just about Rs 4000 to Rs. 15000/only as the Family Pension suffers from low percentage of 15% Basic Pay as against a uniform rate of 30% in Government and RBI that too with a specified ceiling on the amount of Family Pension.

It is unfortunate that Pension Updation was never done though several periodical Wage Revisions had taken place.

Respected Madam, at this juncture, it is a Great Relief and Solace to us Specially to quite a large number of Super Senior Citizens of Banking Industry that You have so rightly and caringly acknowledged and recognised the Contributions and Services of the Banking Community in Implementing the Policies, Programmes and Economic Packages of our Government which brought about Social, Agricultural, Industrial and Educational Revolutions in the Country. We as Bank Pensioners and Retirees feel Fortunate and Proud to have been a part of this Great Movement. This spirit of service also made many of us to voluntarily rush to help our Brethren in the Banks during the PM's Massive Jan Dhan Programme, Demonetization Exercise and Recovery Campaigns by the Banks The Bank Pensioners and Retirees Organisations also collected the Voluntary Contributions from their Members to PM CARES FUND to the tune of more than Rs. Four Crores and also contributed to PM'S RELIEF and CM's RELIEF FUNDS. We are Happy that we are privileged to have so contributed to help redress the distress of those affected by COVID 19.

We will be highly obliged and remain Grateful to you and Our Government for the Initiatives You have taken to end the Injustices to which we are pushed to and render Justice, restore the Dignity and Enliven the remaining part of our Life with Peace and Pride.

We request You to kindly accept our sincere Thanks and Respectful Regards

With Best Regards,

Yours Sincerely,

(A. Ramesh Babu) (K.V. Acharya) 

Joint Conveners,