Saturday, January 30, 2010

Increase in D.A. slabs for pension from Feb 2010

The CPI announced for the months of October, November and December are as follows:-
Month CPI
Oct -09 3766
Nov-09 3835
Dec-09 3858

Pensioners DA will increase by 91 slabs from Feb 2010.
The announcement is made by IBA ( Source - IBA Website)
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.
For viewing the IBA circular on pension D.A. click on the link given below.
IBA D.A. Circular

Saturday, January 23, 2010


One more round of discussions took place between IBA and four Officers’ Organisations today at Mumbai.
The Management team was lead by Shri Jagdish Pai, Chairman of the small committee of IBA.
IBA gave their revised proposals of Basic Pay Structure with Rs,14000 beginning and ending with Rs.54400. They have agreed to remove the cost of leave encashment on retirement. On pension costing, the differences persist in the matter of new pension option. With regard to date of payment of pension, IBA is only prepared to effect payment from the date of settlement whereas Unions want from 01-04-2008. On the cost of SBI pension wherein IBA has allocated an increase of Rs.132 crores also, Unions have objected as it is a new item suddenly introduced after the first chart was given by the IBA.
Thus no finality could be reached on scale of pay, pension cost and date of effect of payment of pension to new optees.
It has been agreed that Unions will work out their scale of pay, presenting uniform loading effect to IBA upon which further discussions will take place.
The next round of discussions to take place on 08-02-2010 and Unions will submit their proposals to IBA by 27-01-2010.

Source - AIBOA website

Wednesday, January 13, 2010

AIBOC taking up matter of resigned employees with IBA

There is some good news for bank resignees. In the circular issued by AIBOC, it is mentioned that they are taking up matter of resigned employees with IBA. For this purpose they are in the process of collecting data of resigned employees.

Relevant para of the circular NO.4 dtd.12th Jan is reproduced below

Para 3. f) To collect data as regards number of resignations of CPF Optees from 1995 onwards for the purpose of taking up with IBA for their inclusion in 2nd Option.

Source - AIBOC website

Sunday, January 10, 2010

Pensioners' demands for 100% neutralisation of D.A. and Updation of Pension

The MOU signed between bank working class unions and IBA does not have mention of following demands of existing pensioners

1. 100% neutralisation of DA - The Eighth Bi-partite settlement introduced 100% D.A. neutralisation in the banking industry also like government retirees . Unlike in the case of government retirees where all retirees are covered, here, the retirees who retired prior to 1-11-2002 have been denied 100%DA neutralization without any reason or logic. In the settlement D.A neutralization is calculated @100% for all serving employees and the same % of neutralization is applied in respect of DA paid on basic pension paid/ payable on pension for employees retiring after 1st November 2002 i.e. date of implementation of both the settlement and the joint note, with effect from 01-02-2005. The pensioners who retired prior to this date, i.e 01-11- 2002 are being denied this benefit and paid D A at the tapered rates as paid hitherto even after 01-05-2005.

2. Updation of pension- In the case of government pensioners , whenever pay comission updates pay scales of government servants, basic pension of the government pensioners is also updated in some proprotion to the increase in basic of the existing govt servants. The pension of all the retirees is updated by notional fixation of their pay by adopting the same formula as for the serving employees. In the case of bank pensioner, their pension is not updated when there is a salary revision of existing employees.

3. Restrospective updation of basic pension which was updated prospectively only w.e.f 1/5/2005. The basic should be updated with retrospective effect and the retirees be paid arrears and difference in commutation amount due to them.

Can bank pensioners expect these issues to be resolved in this settlement itself ?

Tuesday, January 5, 2010

Bipartite Talks with IBA

Further to the last round of talks held on 28.12.2009, another round of Bipartite talks took place today (05.01.2010) in Mumbai between IBA and 5 Workmen Unions viz. AIBEA / NCBE / BEFI / INBEF / NOBW. IBA team was led by Mr. Jagdish Pai (ED, Canara Bank) and from our side all unions were represented.

In today’s discussions we continued the talks and worked on tentative proposals with higher loading than what was discussed in the last meeting. Attempts are being made to achieve maximum of basic pay as is possible and feasible, having regard to its consequent impact on retirement benefits viz. PF, Gratuity and Pension. As regards improvements in duties of special assistant, head cashiers and CTO with passing power / single window operator, we proposed that we can discuss the issue subject to commensurate increase in the allowance, to which IBA had an open mind. Rationalisation of special pay, extending single window operator allowance to all clerical staff, possibility of merging this special pay with basic pay etc were discussed but not yet finalised. We also discussed the proposal for clubbing HRA & CCA and reducing the HRA area / category from 4 to 3 to extend some more HRA in places with lesser population. It has been decided that after mutually working out the above proposals, further items will be taken up. It was also decided that simultaneously we shall also take up the process of drafting the settlement on wage revision / pension option.

Next round of meeting will be fixed up shortly to take the discussions forward and to expedite the settlement.

Source - AIBEA website