Friday, April 23, 2010

Meeting of UFBU ledears with Finance Minister - AIBOC circular

We reproduce below circular issued by AIBOC regarding the meeting of  UFBU leaders with FM on 21/04/2010.

"Members are aware that the date of effect of Pension to CPF Optees was not resolved at IBA level, hence, UFBU requested for intervention of Hon’ble Minister of Finance, Govt. of India.  Accordingly, leaders of UFBU met Hon’ble Finance Minister on 21.04.2010 at New Delhi and forcefully presented the views of the UFBU on the effective date of Pension to CPF optees, from 1st April 2008, as additional cost required for 2nd Option on Pension was assessed by the common Actuaries based on the details made available as on 31.03.2008. 

2.       But the Hon’ble Finance Minister did not agree with the argument as IBA was of the view that, Pension has to be effective from the date of signing the final settlement on Pension. However, he suggested that, effective date may be from the date of signing the MoU i.e. 27th November, 2009. 

3.       The UFBU will meet on 26th April, 2010 at Mumbai, to take a final view of the issue connected with pension, new pension scheme, outsourcing etc.

4.       The IBA has called for a meeting with the UFBU on 27th April, 2010, at Mumbai, with a view to sign the final settlement on Pension and Salary revision.  We shall advise the further developments later.
With warm greetings,


Source -  AIBOC Website

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