IBA has been informing UFBU that they are working out the revised cost of pension on account of the proposed wage revision so that the sharing of such a cost can be finalised and IBA proposed the sharing on 50:50 basis over and above the 10% of cost of pension.
It will be recalled that in the 7th Bipartite Settlement, the pension cost of 26.5% was shared at 10% + 8.25% from out of wage revision and balance 8. 25% additionally by banks. In 8th Bipartite Settlement, the pension cost of 30.5% was shared at 10% + 9.25% from out of wage revision and balance 11.25% by banks.
IBA has been asked to expedite the working of the estimated cost of pension consequent to wage revision so that the issue can be sorted out between IBA and UFBU. They have assured to expedite the same. Once this exercise is completed, the decks will be cleared for reaching an understanding.
In the meantime, the IBA is proposing to hold the next round of Bipartite Meeting on 26th November, 2009. IBA is also proposing an MOU on the understandings. IBA has informed that they will further confirm the date.
Source : AIBEA
Friday, November 20, 2009
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- Bank wage arrears to be paid by Feb. 2010
- No raise in retirement age of Central govt employe...
- SBI officers threaten to go on strike
- UFBU SIGNS MINUTES WITH IBA : Pension Option with ...
- Assam assures revised UGC scale, Madhya Pradesh de...
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- Govt order enhanced GP of Rs.4600 to Assistants in...
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- Vidyalaya Vikas Nidhi charged by Kendriya Vidyalay...
- All India Bank Strike on 16-12-09. Not for wage re...
- Gujarat Teachers' salaries according to UGC scales...
- New PSU bank staff to get NPS (New Pension Scheme)
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- Bank Wage Revision : Are the Unions leaders in bac...
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- PSEB employees hold protest against anomalies in w...
- Bank Wage Hike : Details of UFBU meeting in Chenna...
- Patna High Court orders pay hike for civil court s...
- Bank Bipartite : No progress yet.
- IITs set up committee for incentive scheme to faculty
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22 comments :
SORRY STATE OF AFFAIRS.
WEAKEST SET UP IN UFBU SINCE 1960.
IBA DICTATING TERMS AT THE COST OF POOR BANK EMPLOYEES AND PENSIONERS.
SETTLEMENT IS GOING TO BE DICTATED BY IBA .
BANK EMPLOYEES WILL BE THE LOWEST PAID IN THE COUNTRY WHEN COMPARED TO THE GOVERNMENT AND PUBLIC SECTOR EMPLOYEES.
LET THEM SIGN THE SETTLEMENT MUCH BEFORE THE END OF THE YEAR AND PREVENT FURTHER TENSION.
BANK MEN AND PENSIONERS HAS TO LAUGH BY SEEING THE FATE OF GETTING THIS TYPE OF WAGE REVISION AGAINST ALL PRINCIPLES OF NATURAL JUSTICE.
WAGE SICKNESS WILL SPREAD IN THE BANKING INDUSTRY AND TALENTS WILL NOT ENTER IN FUTURE WITH THIS PAY ANDS GOVERNMENT/IBA/UFBU ARE JOINTLY SEVARALLY RESPONSIBLE FOR THE QUALITY OF FUTURE PERSONNELS.
HATS OFF TO THEM FOR TJHEIR ROAD MAP TO RUIN THE INDUSTRY BY PROPOSING THIS TYPE OF MEAGRE PAY INCREASE ON COMPARABLE BASIS.
K BALASUBRAMANIAN
Good news for all
but the benefit for whom?
r rajendran
It is not IBA that is strong, it is UFBU that is weak- members fail to understand why, in spite of so much strength at their disposal, they are not acting and still remain at the negotiation level only. They resort to calling 1 day 1/2 day strike or 2 days at the most and most certainly call off at the last minute or sometime allow strike to materialise. What is blocking them in calling for a 10 days or indefinite strike during last week of March 2010? Instead some of UFBU member unions have called for strike- how far they can justify- fearing repression all members will participate- there should be concerted efforts by members to arrive at concensus to oppose the same.
A few days back- bankmen used to discuss wage revision matters- now no body is interested in any hearsay or actual reality.
Bankers are working in rural, semi rural branches under worst working condition up to late hours due to shortage of staff, IBA and Union should consider for them by giving them rural allowance so that they can cope up with such working condition where they have no proper housing ,schooling,conveyance facilites etc. still they are fulfilling their duties.
-A K Sharma
Unions should have settled the pension issue first without linking it to wage revision in March 2008 itself as a result of which bank employees would have got much more now.However,It is needless to mention here that the pension benefit is neither at the cost of younger generation of employees nor at the mercy of IBA in the banking industry.It is setrighting the error committed by IBA,a right that was denied to all by threatening unilaterally to withdraw the pension if any body participated in strike. When that clause was removed subsequently it was the duty of IBA to extend one more option to all to set right the anomoly between pension optees and PF optees. More over,pension is in lieu of Management contribution of PF available to the employees as per labour laws. In fact there is no need to demand for a social security measure which the Government of India/IBA is shirking from their moral responsibility by denying the legitimate right of all Bank employees in India. Now the best option to the unions is to represent these with IBA and settle the matter immediately without giving any room for further delay.There is no guarantee that every employee will live up to 100 years after opting for pension and if any body dies the very next month, the entire amount of Management contribution will be added to the pension corpus fund.The family pension available to the dependent of the pensioner is meagre.
Meeting on 26th Nov a good message. But beware that it is heard SBI oriented NCBE may not sign the settlement as what they have decided - news from very reliable sources - because - out of Pension benefit given by IBA 4800 crores, SBI employees are not going to be benefited SINGLE PAISE. oNLY IN OTHER BANKS, 19 banks out of 6 lakh employees, 2.65 lakh employees opted PF are going to benefit. Hence, they feel 17.5% increase is not enough hence going to stay away for the MOU.
Yesterday, all stock brokers gave big msg that Bank merger inthe offing strongly. Hence, all midsized banks stocks rose nearly 10% after 1.30 p.m. and at 3.20 o.m. they confirmed still higher levels. Making money out of oppurtunity / speculation. What about us ? If AIBEA alone sign MOU on behalf of 16 banks, will IBA accept ? A million dollor question ? Any anwers dear comrades ?
AN APPEAL TO THE CONSTITUTENTS OF UFBU
Advance revolutionary greetings on the eve of signing MOU, which seems to dawn probably on 26th instant!
Now we hear the news of sharing cost of PENSION post-settlement after arrriving at the load factor. Now please enlighten me as to whether a slice of 17.5% will be taken away for this purpose or else how it will be factored.
Now, that it is heard that the FM office has shot a letter to SBI for going slow on merger of SB of Indore I am confident the strike call given in isolation by only the twin banner will not be necessary and will be called off. Please enlighten me on this too.
It appears, the Government is all set to draw a background paper and move a bill for M&A of PSBs in a short time and already many banks have started identifying their fiancee! It seems like a unstoppable stunami for the bankmen. Instead of plainly loosing the battle, should we not use it an opportunity to bag additional monetary compensations and gracefully allow it to happen?
Now post wage revision, it sounds like an exodus in the offing by way of VRS which is estimated by the blog writers to be around 30% and with a lot of natural wastages in coming couple of years - to be around another 30% without any road map for resurgence with many banks. What is your prescription for this malady. I would like to advocate for a uniform promotion and transfer policy for all banks.
Another grey fact is that for officers, promotions give only worries and burdens and intribuingly no monetary benefit at all. It is hightime we ensure a decent hike in the pay scales of officers on scale promotions.
I am posting this blog, for, still there is an opportunity for us to revisit our demands, factoring all the developments taken in between and reap the benefits that we all deserve.
Atlast the meeting has been finalised. But we donot hope that it would be a final negotiations.It will be going on .
Our UFBU leaders must note that whatever be the percentage of settlement, they should thinkover about the House Rent Allowance in
all the Areas , in particular Metro Cities. Except our poor Bank employees, all State/Central govt employees are getting Metro Area HRA of 30%. Why we are denied, beetter known to the Leaders. Let us hope this would be taken care. And also Self Leasing of own house by the officer community. The officer who reside in their own house is meagerly getting normal HRA of 8.5% in Metro area, where as an officer if he takes leased accommodation he will get around Rs.10,000/- as leased rent. Why this difference? Please lookinto this matter also.
Negotiation after negotiation i going on.no progress reveals.6-7 august held strike.after 3-4 months no conclusion yet.i think 26 nov will the same.no conclusion will reveal.then they will call another meeting.one after another.ufbu should teach a lesson from air india.i thing the ufbu leaders are collecting billion bank employees curse.is it a negotiation??bank is one of the most countrys imprtant and profitable sector for economy.some non profotable government sector is now getting high salary.but bank employees are paid now the lowest salary.i think the all banks should come forword and establish a new association for their good sake.why ufbu is not calling indefinite strike????????????its a shame.shame,shame......
let all of us pray for settlement(like we have prayed for Amitab when he metwith an accident) and also pray for dynamic leadership for next settlement unlike the present one.
Nothing is to happened before February-2010.Meeting on 26th or 28th is just an eye-wash.Once the wage is settled the workers are required to dole out a levy i.e. a percentage of the arrears of their revised wages to their trade unions which they belong. Obviously you understand the trick, more the delay in wage revision, more the amount of arrears so bigger the amount of levies! Surprised! but this is the norm of wage negotiations and despite of deep resentment amongst the workers (whose voices are always suppressed) for the delay and the undue levy, the practice is on ever since bipartite wage negotiation between Indian Banker’s Association and several trade-unions.
If one happen to visit head office's of a nationalised Bank, one will be shocked to two categories of people. People aged above 55 and people below 25(the new recruits) From the year 2010 onwards every month more than 2% of work force are likely to retire and no body can guess what will be fate of the banks after 2017. What ever may be the arrangement between IBA and UFBU this should be the last bipartite settlement and the next wage revision shall be through Bank pay commission. If this is not done, all the union leaders will have to under go a severe blow from the new generation bank employees. Bank employees our unions are cash rich and already we are paying more by way of subscriptions and hence please do not pay doles for ever.
Now, that it is heard that the FM office has shot a letter to SBI for going slow on merger of SB of Indore I am confident the strike call given in isolation by only the twin banner will not be necessary and will be called off. Please enlighten me on this too.
YES DEAR, UR MSG IS RIGHT MERGER ISSUE IS ASKED TO PUT ON HOLD. 26TH ufbu meeting and 27th ufbu and iba meeting confirmed late night yday around 11 pm between Nair and CHV. 17.5% wage hike, one more option for Pension, sharing of addl cost of pension besides regular 10% contribution bank and member 50 50 each. AIBEA is signing the MOU. Once again I repeat it will be a million dollar question with regard to SBI and AIBOC. Out of 4800 crores given by IBA for Pension, SBI is not at all benefited. Officers feel that they may draw 40% less than cg employees total salary because of pension. SELF LEASING OF QUARTERS is the only way to break the difference and increase a good hike for officers. But our own AIBOC should allot it out of the amount given to them. Also, no officer is permitted to take 30 days of PL eligible to them and hence every year 20/25 days leave is lapsed. Enhancing leave accumulation from 240 to 300 days is the only way to make a wage hike for officers which is invisible. Even if they bring it WEF 1.1.2009, the management has to provide one month for 2009-10, 2010-11 one month only and by the time next wage revision will come.We dont know how our own fellows going to sack us. It is all our ill fate.
But is very much surprising me that all Bloggers feel the ineffectiveness of UFBU in the name of one more option for pension. Why not we wait 3 months fight and get better. All wage revision came with 2 to 2.5 years time frame. Why this time so urge to fall pray to IBA. Are all so aged and lost mental confidence. Think how we all were?
It is expected and required that this forum is used to provide authentic informations based on documentary proof/Signed MOUs etc and not based on roumors/hearsay messages/unauthenticated information etc. All informations should be with documentary proof but not based on news paper/TV announcements.This type of roumors will definetly hamper smooth conclusion of the settlemets.In this connection comments made by Sri Venugopalan may be referred, who gives authentic informations based on documentary proof/signed MOUs etc.That is the need of the hour.Merely telling as" Reliably learnt","Somebody said","It is heard" etc will not be believed by genuine trade union activists.Hope every body understands this.
Datas and information shared by Shri Balan and Shri Venugopalan are very much available at rbi website rbi.org.in under profile of banks from the year 2004 to 2009. if we give in this forum, it will be a very lengthy proposition. based on the same, the unions and associations are having their discussion papers but not published open. Shri CHV is having the settlement in full in his Laptop as per AIBEA understanding to explain to UFBU and IBA both on pension and Wrevision. If we regularly attend Individual Bank union, Association everybody will get proper and correct information on the ongoing process. I am lukcy to meet my office bearers thrice a week one to one and get the authentic information. Past datas are useful only for analysis and estimation. See aioboa.org.in website about wage revision calaculation and understand what this 17.5% increase is.
UFBU is playing the same role as done in past. Future of bank Employees is not safe in these hands.
Bankers should seek an alternative and ask for "PAY COMMISSION".
M.S.Gupta
Friends,
As expected, these bunch of jokers are hell bent upon fixing the pay scales of officers anywhere between a Peon or a LDC of Central Government. It is only because of our inactive behaviour. Had v started opposing the mindless strikes against Mergers, Cerimonious strikes once in 6 months to please the RED brigade, we would have been in a better position. As rightly said by someone in the blog earlier, soon there will be a brain drain in banking industry. It is high time, we break the AIBOC,AIBOA,BEFI,INBEF and other sundry unions vertically, who are more inclined to please their leaders in Delhi, rather than understand the feelings of their comrades. High time to take a decision to set a new path for Trade Unionism in Banks
It now the duty of every member working in the Banking Industry to not to pay any single penny in the name of levy or wage revision to their respective union, to save the Industry for future generations, otherwise, these UFBU jokers will continue to play game in the name of wage settlement.
I suggest that the UBFU leaders start committing SUICIDE like the farmers did and then the Government gave them Loan write-off at the expense of us bankers, so then the so-called leaders will go to hell and the govt will sympathise a maybe next time we will get a better settlement. All UFBU leaders are impotent and have sold us to the govt and IBA.
On going through the comments made by bank employees it can be seen that there is unduly delay on the part of UFBU to sort out the matter early.UFBU is having problems with it’s own constituents.IBA is fully aware of the situation and hence they are playing the game.AIBEA/AIBOA has exposed this by declaring strike on 16th Dec.against merger of associate bank with SBI without referring any word on Wage Revision,ignoring the anxiety of memberhip.Whom to be blamed ,whether IBA or UFBU?
MOHN.P
I would be highly obliged to Mr.Shankar to please clarify the following.
I was staying in the Banks furnished quarters and the bank was not paying me any HRA but every month the bank was deducting a notional rent towards quarters and furniture provided.
I retired on 30th June 2005.I feel the bank has not given me 100% of my basic and other eligible allowances when I encashed 240 days of my PL at the time of retirement.
Kindly clarify whether I am eligible for 100% of the Basic and other eligible allowances basing on the details furnished above.
If possible kindly let me know any circular issued by IBA or any other PSBs so that in case I am eligible I can take up with my Bank.
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