We reproduce below relevant paras from the circular issued by UFBU regarding bipartite talks held between IBA and UFBU on 26th Sept 2014.
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Pension related matters i.e. 100% DA on pension for pre-Nov. 2002 retirees, improvement in family pension, provision for periodical updation of pension
After discussion, IBA informed that they are inclined to favorably consider the demand of 100% DA on pension for pre-Nov. 2002 retirees. IBA further informed that cost aspect on improvement in family pension is being worked out and they would soon take a decision on the same. IBA responded positively on this issue. As regards updation of pension, IBA informed that in view of the high cost involved, it would be difficult to agree to the same. On our insistence, IBA agreed that any viable and affordable proposition from the UFBU in this regard would be examined.
After discussion, IBA informed that they are inclined to favorably consider the demand of 100% DA on pension for pre-Nov. 2002 retirees. IBA further informed that cost aspect on improvement in family pension is being worked out and they would soon take a decision on the same. IBA responded positively on this issue. As regards updation of pension, IBA informed that in view of the high cost involved, it would be difficult to agree to the same. On our insistence, IBA agreed that any viable and affordable proposition from the UFBU in this regard would be examined.
Unquote
UBFU has decided to go on agitation path as they are not satisfied with offer by IBA regarding wage revision. Agitation program includes demonstrations and one day strike.
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