Saturday, July 30, 2011

Increase in D.A. from Aug 2011

D.A. Rates for Pensioners (%) – 27 Slabs more
Retired prior to 01-11-1992 - 919 Slabs over 600 points
     Upto 1250    1251-2000    2001-2130    Abv 2130
     615.73%        505.45%      303.27%      156.23%
After 01-11-1992 upto 31-03-1998 - 782 Slabs over 1148 points
     Upto 2400    2401-3850    3851-4100    Abv 4100
     273.70%        226.78%     132.94%        70.38%
After 01-04-1998 upto 31-10-2002 - 648 Slabs over 1684 points
     Upto 3550    3551-5650    5651-6010    Abv 6010
     155.52%       129.60%       77.76%        38.88%
Retired on or after  1-11-2002 - 497 Slabs over 2288 points
For the entire Basic Pension Amount    89.46%
Retired on or after  1-11-2007 - 360 Slabs over 2836 points
For the entire Basic Pension Amount    54.00%

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 here for D.A. Calculator 
Click here for IBA Circular on D.A
Click here for revised IBA Circular on D.A. for pre 98 retirees 

Friday, July 22, 2011

Dharana by bank pensioners oganisation in Trivandrum for various demands of bank pensioners

 Following is the report on Dharana by bank pensioners at Trivandrum by ABROA Unit State Bank of Travancore.

We are glad to report that a Dharna was organised in Trivandrum yesterday by the Kerala Unit of the Retired Bank Officers' National Confederation for drawing attention of the powers-that-be to the most important of the issues confronting the membership, namely, updation, 100% neutralisation, increase in ex gratia and family pensions, medical benefits etc. The focus was on the most vital issues.

Timed to coincide with the anniversary of bank nationalisation, the dharna was addressed by Mrs Jameela Prakasam MLA (herself a bank retiree), Mrs K Chandrika (Worshipful Mayor of Trivandrum), Shri Pannyan Raveendran Ex MP (National leader of CPI), Secretary of the State Civil Pensioners' Association, Divisional Secretary of the LIC Pensioners' Association and several leaders of the unions/associations of the serving employees and officers. 

A memorandum highlighting the plight of retirees and their families (The widow of a retired General Manager getting a consolidated pension of Rs 1,000, a retired Assistant General Manager receiving a basic pension of just Rs 300) etc had been drafted and was circulated among them. All those who addressed the Dharna (but are not/were not bankers) were surprised and shocked at these revelations. Pledging all support to our cause, they have promised to take up the matter with the authorities.

Let the dharna in Trivandrum not be a solitary instance; let the initiative be sustained elsewhere. Let all MPs know about the sad plight of retirees so that when the matter is raised on the floor of the Parliament, the matter will receive unanimous and whole-hearted support. For that, the lead has to be taken by retirees at other centres. Our request is to organise similar events at all centres in order to create a groundswell. 

A copy of the memorandum is attached with you could modify incorporating facts of similar cases in the your geographical area (instead of the details of Mr C John Jacob, Mr S S Menon, Mr V Balachandran etc) and send to the MPs in your respective areas.

Associate Banks' Retired Officers' Association Unit: State Bank of Travancore


Thursday, July 14, 2011

RBI wants all PSBs to have uniform pension provision

After coming down heavily on banks for not making adequate provision for increased pension liabilities arising out of wage revision, the Reserve Bank of India (RBI) now wants all public sector banks to have uniform pension liabilities.
According to sources in the banking industry, the central bank sees no reason why each public sector bank should have different pension liabilities, since the inputs which go into calculation of pension provision are nearly the same.
“RBI says the salary structure is same, the mortality rate is similar and the attrition rate is almost the same for all government-owned banks—at around 0.5 per cent. There is no reason for different actuarial estimates for banks. It feels all public sector banks should have similar actuarial estimates,” said a banker after discussing the matter with RBI officials. The basic pension of retirees from all government banks is 50 per cent of the last salary drawn.

Monday, July 4, 2011

RBI Unions demand pension at par with Central Govt.

The employees' union of Reserve Bank of India demand equal pension benefits on par with those of their counterparts working in central government departments.
A chalking-a-strategy meet organized by joint body of all the unions operating in the country's apex bank is to be held on July 7 in Chennai, which in later stages would be followed by a protest march on Tuesday. There is a special stress on increasing the family pension, a dole given to the dependent spouse after the employee's death. The family pension in RBI does not go more than Rs 7,688 a month for even for a senior officer's kin, which is too less to compare it to the rising cost of living, say unions. Family pension beneficiaries in RBI are expected to run in a few thousands.
"RBI has enough funds to increase the pension but the government is creating a hurdle. It feels that unions in other financial institutions may raise a similar demand too but there are some organizations which cannot afford a pension revision," alleged Secretary of All India RBI Employees Association (AIRBIEA), Bidyut Chakraborty.
However, RBI unions contend that if the central government employees get a benefit even without any specific provision of funds, why should not those serving the apex bank. The pay commission has increased family pension to 30% of the last drawn pay.
The unions say RBI has a corpus of Rs 5,000 crore as collections towards provident fund. A part of it can be easily diverted to pension payment.
AT RBI, the dependents of senior officers get a maximum pension of Rs 7,688 a month which is Rs 23,604 in the case of central government. The minimum monthly family pension for an RBI officers' dependent is Rs 5,533 which is Rs 16,599 in the case of a central government employee.
It is worse for the Class IV workers where the family pension does not exceed Rs 3,715 a month while their counterparts in central government get a maximum pension of Rs 11,145 per month, he said.
Chakraborty said the union has demanded a second option for pension too. There are around 2,000 RBI employees who did not go in for pension option the first time and many of them want to change their decision, added Chakraborty.
A second option will enable them getting a monthly pension payment or else a lumpsum provident fund is handed over. The pension is paid from the bank's contribution towards an employee's PF. 
Source : Times of India - Nagpur