Update : It is learnt that an MOU is likely to be signed / finalized today on the broad understanding reached so far i.e. 17.5% wage increase, second option for pension, sharing of cost of pension etc.
IBA has confirmed that next round of Wage Revision meeting will be held on 27/11/2009 morning. Prior to meeting with IBA, UFBU will meet on 26/11/2009 evening.
The Indian Banks' Association (IBA) and United Forum of Bank Unions have agreed to meet on Nov 27 to take the wage bipartite talks forward.
Over 7 lakh public sector bank employees will keenly wait for the outcome of the meeting. Wage revision for them is due from November 2007.
Incidentally, both negotiating parties have agreed on a 17.5% wage hike. They have also in principle agreed to offer monthly pension to 2.66 bank employees, who did not opt for it in 1993. But their last meeting in the final week of September remained inconclusive as they could not arrive at the accounting methodology of pension.
"Issues like accounting for the cost of pension and the cost sharing arrangement between bank management and employees, the proposed introduction of New Pension Scheme (NPS) and variable pay are some issues that need to be resolved," said All India Bank Employees Association (AIBEA) president Rajen Nagar.
UFBU -- the umbrella organisation for nine leading bank unions -- is not also comfortable with IBA’s proposal to introduce NPS for bankers joining after April 2010.
IBA and UFBU jointly finalise the pay hike plans for public sector bank employees. Talks on the eighth bipartite meeting has been on for quite sometime now. Public sector banks including State Bank of India have 2.44 lakh officers and 4.68 lakh workmen employees who are awaiting a wage revision now.
Source : Economic Times.
Wednesday, November 25, 2009
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- Bank Bipartite : No progress yet.
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41 comments :
Dear Mr.Balan/Swami
Will it be 17.5% net increase in wages or portion of it will be adjusted towards the cost of pension besides payment of arrears from the different dates to accumulate money for the pension fund? What about the stand of NCBE/AIBOC with regard to signing of the settlement inasmuch as both the negotiating parties have agreed to 17.5% increase as reported in E.T
In reply to a related query, Mr C H Venkatachalam, the Chairman of UFBU replied that cost of pension arisig out of wage hike would not be factored out of 17.5% but would be over and above the agreed load. However, cost of actuary already agreed to be shared in 18:42 ratio would require additional sacrifice by way of enhanced contribution. Going by the meeting held at Chennai in one of the PSBs yesterday where AIBOC leaders detailed the position, it appears that AIBOC is not having any issue in signing the MOU. It seems there are certain areas where still some confusion prevails in the minds of certain constituents which would in all probabilities be done away with in the meeting of UFBU on 26.11.2009. Hence, this time around we may expect some pleasant surprises on the evening of 27th! So keep some crackers ready!
It is very clear that 17.5% wage load is exclusive of pension cost. For pension out of 6000 crores , 1800 crores has to be shared by the employees.
Even though it is far from the expectation ,ufbu is in a tight spot because of the clubbing of pension issue in the total load and inappropriate time that too with pressure and tension. Had the issue be taken before the election with full vigour pension option plus 25% wage revision would have been possible. better luck next time. The IBA on its own should increae the hra levels and introduction of grade pay etc during 2012 and make employees also on par with vi th pay commission in all respects including full pension benefits plus updation etc.
let us wait for mou
k balasubramanian
There is no relativity maintained with wages earned by the Central govt.officers and employees if the trade unions are surrendering the issue at 17.50 % wage hike. It appears that a section of trade union is only bothered about pension and not for salary hike for those, who have to educate their children and to carry forward other family obligations. The inflationary pressure is felt by the young bankers too and they have to look after increasing responsibilities. The trade unions should not force the hard working youngsters out of the public sector banks by making their lives miserable. Even , the sharing of pension load is a debatable issue and the interests of all those ,who have joined the banks after November'1993, can't be sacrificed in the name of unity of trade unions. Another issue is about the transparency of the health of pension corpus funds . Whether the existing pension funds are capable of ensuring uninterrupted pension even to the existing pension optees ? Whether the proposed infusion to pension funds will make these healthier enough to ensure uninterrupted pension payments in years/decades to come ? If not ,then where is the remedy ? It is expected that as organised trade unions of one of the most committed sector of economy, they should demand that the Govt. should take over the load of pension payments just like they are paying pensions to the employees of Railways ,P & T etc. Whether any effort is made to ensure that a better situation can emerge , only if the leaders go back to the membership and discuss these issues ? Trade Unions are constituted to fight for and NOT TO SACRIFICE the benefits of membership .
our leaders are very desperate to sign an agreement which could have been signed on 31.10.2007 as per the shape emerged @ 17.50% and Government would have agreed for the same. The Bank employees are most unfortunate employees in terms of transparancy by IBA/Union.They never bother to engage members in the settlement by inviting views.Banking Industry has only one intelligent person who can take care of all Bank employees.
I do not understand what is the negotiation in it when it does not take in to account the basis document i.e.5th/6th pay Commission.
It is the right time to bring transparancy in terms of engagement of staff.The views of members be also taken in to account which are visible through various blogs.The settlement at 17.50% is just equal to begging transation which do not take care of the kind of responsiblity imposed on Officers.
The Banks are a part of the society and they also require talent.It seems no body is bothered about Bank employees.
GOD save Banking from clutches of UNION/IBA
I do not think there is a need for discussion any more. By this time everything might have been finalised. Only signing of ceremony is pending. So let us not waste time. The capacity to bargin has gone down. So we have live with that.
UFBU is in a hurry to save its face amidst growing criticism of bank employees for its dissolution and started demanding a Bank pay commission after this Bipartite settlement. Bank employees are not at all happy, and the union leaders should not take it for granted. Once again let it be made clear that no more UFBU-IBA but only Bank Pay Commission.
our young generation like me is not happy because when we enter in the banking industry,there is a large pressure on us but salary hike is very low when we were doing prepration of po exam we think about lifestyle of a officer but now we think a central govt clerk is better service. once a time there was a IAS officer and SBI PO`s salary was approximate same. So my message to our union leaders that think about future generation in the next wage revision
There has been much hue and cry from the younger generation or you call the new entrants. They have a very good career building opportunity in banking industry today when compared tothe seniors who had to undergo a lot of ordeal and delayed promotions due to tulmutous situation in the banking industry that prevailed earlier. While these guys are murmuring about the present pay only, unfortunately very few are tending to improve their skills and ability to work in niche areas. Many MBAs and BTechs are not able to communicate well and write a few commercial lines in correspondence. Quality is diminishing. Attitude is negative. We can not try to fly high over night. We have earn our salary also. Still I opine our working condition and job security are enviable and it all was possible with our unity. People those who were yelling at leadership for the delay are attributing now that they are going hastily. It is a fun!
Present younger generation bank employees are totally unaware of the facts that the older generation is respomnsible for bringing the banking sector to an industry level by sacrifycing all their persional life and the younger generation woild not have got the oppertunity to join banks now. But only history speaks and one should always remember one union leader who was dismissed about 200 times but he won in the court all the 200 times against the bank managements.Had it been the present generation staff they would have committed suicide or tried to join some other industry.
Intension is younger generation should fight the management like above and get all their dues honourably.One has to study facts and figures and history to understand the things better before commenting against pension option or wage revision.Mere posting a comment will not yield any result
Mr. IYER THIS IS ONLY BECAUSE OF THESE SO CALLED SENIORS PROMOTED FROM CLERKS, THE BANKING INDUSTRY IS SUFFERING. THESE SENIORS KNOW ONLY CHAMCHAGIRI. tHEY DO NOT KNOW HOW TO WORK AGGRESIVELY. jUST BECAUSE OF THEM,SUCH TYPE OF ENVIRONMENT IN BANKING INDUSTRY HAS BEEN CREATED WHERE ONLY YES SIR CULTURE IS BEING ACCEPTED. BANKING INDUSTRY KA BHATTHA BAITHA DIYA INHONE
IT IS STRANGE. WE ALL KNOW THE FATE OF LEHMAN BROS AND OTHER AMERICAN BANK WHICH WERE MANED BY SO CALLED IIMs AND BUSINESS SCHOOL LADS WHO BELIEVE AGGRESSIVENESS PAYS. WE HAVE TO IDENTIFY AND MANAGE THE RISK AREAS. ONLY BECAUSE OF THE SENIORS AND THEIR CONCEPTS WHICH AGAIN PAVED WAY OF FRAMFING CONTROL MEASURES THAT THE INDIAN BANKING INDUSTRY WITHSTOOD THE WORLD ECONOMIC DEBACLE. IT IS NOT JUST TALKING LOUDLY ABOUT ONE ANOTHER. IT IS ALL ABOUT DOING SOMETHING FOR THE INSTITUTION AND GROW ALONG WITH IT.
Mr IYER is 103.025% correct. More than 100% because this is the fact but no one is willing to accept it. Neither Government nor IBA and that's why they are not willing to agree for a reasonable wage settlement.
Lehman is appears to be the future of the indian banking industry because of increasing campus recuritments by PSBs from 3rd grade B'shops.
We have demanded transparency of various aspects of banking industry including the health of the Pension Corpus Funds. No doubt that the seniors have taken lots of pain in the development of the banking industry, but their silence in demanding an equitable salary and pension for all the bankers is perturbing. They have allowed slippages in the salary structure in successive bi- partite settlements and have not fought aggressively for the rightful dues of the bankers. Instead of demanding pension from the government for the services rendered to the nation, the pension is being sought to be adjusted from the proceeds for salary hike. There is a need for a decent pension to all the retired employees , but at the same time the goal of achieving a decent salary for working people is also equally important. Our present needs can not be sacrificed for the past mistakes of seniors in not accepting the option of pension in 1993-94.Hence, it is needed that all of us should work together to achieve salary and pension at par with those of Central Govt. Officers and employees .Today's needs can't always be postponed for tomorrow. Hence a better salary and pension is today's requirement and must be achieved NOW.
Any news about today's UFBU meeting. Please inform in the interest of all.
The so called aggressive newgen bankers know nothing of the history of banking in India and the sacrifices the seniors,many of them long gone now made to make the lives of these ingrate bacchas cushy.The strong trade union movement and the bipartite culture prevented the PSU banks going to dogs like the GTB.They should realise the fact that those who did not opt for the pension previously have subsidised the contribution to the pension load until now and are only now demanding to join the pension bandwagon after realising that they are being short changed.It is not that these brash bacchas are foregoing something from their pockets.
Hi
America was once a dream land for many of us. But in the dream land during the current year alone has seen closure of more than 150 banks most of them more than 50 years old. In India we bank employees can feel proud of our banks, time tested and growing stronger day by day. It is not merely because of the RBI guidelines or government policies, but because of the dedicated services rendered by our ex bank employees who laid the strong foundation for the fundamentals of our frame work. The dedicated services rendered by the employees who joined during 1950's and 1960's struggled for Establishment of Trade Unions against the Private Managements, most of them were ex money lenders in various parts of our country like Manipal in Karnataka, Chettinad in Tamilnadu, Trichur of Kerala. Many of our senior colleagues were deprived of their salary for months on account of trade union activities in the organisastion. They worked relentlessly and Bank Unions and Associations were established to safe guard employees from the greedy management. Present day bank employees, please remember the sacrifices of our seniors, and do not compare with IT Companies or new generation banks. What ever be your qualification, you cannot learn practical banking without the seniors help and without the seniors you will not function safely for your future in banks. Please Join with the seniors and learn from them and you will also learn to shoulder work load and then lead our fellow workers tomorrow.
We will fight till we succeed, and Bank employees we will definitely succeed if not today, tomorrow.
To-day (27.11.2009)is the day deciding the fate of entire sector of bank employees to have their purchasing powers and we wish the day a nice day for ever as prayed.
We the bank employees wants pay commission, otherwise we wont get
any parity with Central Govt.
employees salary.
Mr Renjan, I too would like to get a hefty pay hike. But how can we copycat Central Govt employees pay? For, they are not required to earn profit to get their salaries paid. Government only drafts expenditure budget and levy taxes to fund and settles with deficit financing to print money. Can any of the banks do that? We are essentially commercial organisations who get paid out of earnings. Most of our PSBs are still not able to reach four digit profit much disproportionate to their total business volume. The unions are required to keep affordability of banks and interest of employees of such banks also into consideration. Of course strong banks are able to give more tax free avenues out of Staff welfare funds (1% of previous year's PAT) and weakers ones are not able to do. This problem can be addressed by imbibing the 'sense of ownership', in the minds of all class of employees and make the banks stronger enough to pay more. In fact there should be Employees' stock options so that with the value of the bank the market value of each employee also goes up. Let us plan for these before the next settlement falls due. Kindly remember that PCR reduced bank officers pay to keep it at par with CLASS I officers clearly denoting C-I officers are above par with Bank officers. And it is manifesting clearly now! Let us take a vow to make ourselves deserving for better treatment next time around and accept the present one happily! Greetings.
A glance of the following UFBU circular is sufficient to understand the reason for lower wage hike demanded by a section of the unions. Remarks against the Newgen bankers is out of place as the same Newgen Bankers are going to earn profits to replenish the pension funds for smooth pension payments to the retired/retiring seniors.It appears that a section of seniors are more eager to justify a lower salary than fighting for a respectable salary. They are requested to understand ths requirement of an equitable salary structure and to work for achieving the same.
Extract of UFBU circilar:
"Meeting with IBA - UFBU Circular - 20/11/2009
Further to our UFBU meeting held at Chennai on 4.11.2009, we have been in touch with the IBA to fix up the date for the discussions and to expedite the conclusions. IBA has been informing us 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.
We have asked the IBA 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.
good morning, bank employee.have a good day.have a nice morning too.also hope that today will be a conclusive discussion.best of luck.
MOU SIGNED DETAILS AWITED
BALASUBRAMANIAN
MOU Signed without SBI Unions. Is it true ?
Memorable Day At Last : Today MOU Signed between IBA and UFBU. Wage revision at 17.5% w.e.f 01/11/2007 with Annual Increase of Rs.2577 Crs. for Workmen and Rs.2239 Crs. for Officers. Pension option for existing and retired employees extended.
Pension option will be given in Phase-I. We have to share larger portion / share as SBI has walked out, their Officers & Workmen Union has not signed on this pension issue.
MoU signed with IBA
CONGRATS & RED SALUTES
UFBU SIGNS MINUTES WITH IBA
ANNUAL WAGE INCREASE OF RS. 4816 CRORES FROM
1-11-2007
ONE MORE OPTION FOR PENSION ACHIEVED
WE DEDICATE THIS ACHIEVEMENT TO THE MEMORY OF
COM. PRABHAT KAR ON HIS 25TH DEATH ANNIVERSARY DAY
Yes, today, 27-11-2009, is the 25th death anniversary of our great leader and doyen of bank employees trade union movement, Com. Prabhat Kar. On this solemn day and during the centenary year of this father of our movement, we deem it a befitting commemoration and tribute to his life-long pioneering role in shaping up the service conditions of bank employees that the Minutes have been signed with the IBA on our wage revision demand and more importantly, securing another option for more than 3 lacs of employees/officers/retirees to get the benefit of our unique pension scheme.
Salient features:
a) Annual wage increase of Rs. 4816 ( Rs. 2239 crores for officers and Rs. 2576 crores for workmen employees ) w.e.f. 1-11-2007.
b) All the existing employees who are now in PF scheme will be given an option to join the existing pension scheme.
c) All those who have retired after the date of Pension Regulations till date will also be given an option to join the pension scheme.
d) Full settlement on the above to be finalized within 90 days.
Wage revision – what we have achieved:
7th BPS
8th BPS
NOW
Additional annual wage load
12.25 %
13.30 %
17.50 %
Total quantum of annual wage increase (Officers & Workmen)
1497 crores
2200 crores
4816 crores
Annual Average Per Capita Increase
Ø For Workmen employees
Ø For Officers
12,550
24,025
23,300
43,600
56,200
91,800
ONE MORE OPTION TO JOIN PENSION SCHEME
– A UNIQUE ACHIEVEMENT:
In 1993, after bitter struggles and against all odds, AIBEA and AIBOA achieved pension scheme for bank employees. Today, once again, with the leading role of AIBEA and AIBOA, another milestone has been anchored. More than 3 lacs bank employees, officers and retirees will now get another option to join the pension scheme to insulate themselves with this unique social security benefit. It is a very commendable achievement indeed.
Dear comrades, with the signing of this Minutes, the main understandings have been reached. Now the UFBU will be taking steps to expedite the final settlement with revised pay scales, allowances and other improvements and thereafter for implementation of the same and payment of arrears to the employees.
Dear comrades, on this happy occasion, it is necessary to remind ourselves that these achievements were preceded by persistent efforts and protracted negotiations by the leadership of UFBU and backed up by the exemplary unity of the bank employees and officers and their successful participation in the strike actions. It is the result of our unity, militancy and perseverance.
OUR CONGRATULATIONS AND WARM GREETINGS TO ALL OUR UNITS AND MEMBERS.
MINUTES OF THE DISCUSSSIONS HELD
ON 27th NOVEMBER 2009 between
IBA representing Management of Banks which are parties to the
Bipartite settlement and the Four Officers’ Association
viz., AIBOC, AIBOA, INBOC & NOBO on wage revision
Discussions were held between the Indian Banks’ Association representing management of Banks and the authorized representatives of Four Officers’ Associations viz., All India Bank Officers Confederation, All India Bank Officers’ Association, Indian National Bank Officers’ Congress and National Organization of Bank Officers on wage revision for officers in banks. After holding several rounds of discussions, the parties have mutually agreed as under:
1. The wage revision will be effective from 1.11.2007
2. The annual wage increase will be Rs.2239 crores
3. The additional cost of pension on account of wage revision in excess of statutory contribution of 10% of pay will be shared equally between management and employees [13% of pay each] and the share of employees so calculated will be deducted from the agreed wage increase while revising salary and allowances.
4. All other issues of the Management and Association discussed during the process of negotiation will be settled to the mutual satisfaction.
5. The parties will meet on mutually convenient dates to draw out a detailed Joint Note on the various issues on which consensus positions have been reached. The parties will endeavour to finalise the Joint Note within a period of ninety days from the date of this minute.
Signed on Mumbai on 27th November 2009
for MANAGEMENT For OFFICERS’ ASSOCIATION
/sd/ /sd/ AIBOC / AIBOA/INBOC/NOBO
source - aiboa.org
What is the exact impact of this sentence? What will be the actual increase in salalry and wages after dedecting the " additional cost" as referred in the sentence ?
"3. The additional cost of pension on account of wage revision in excess of statutory contribution of 10% of pay will be shared equally between management and employees [13% of pay each] and the share of employees so calculated will be deducted from the agreed wage increase while revising salary and allowances."
Can any on enlighten on the subject ?
Dear T J P, It appears to be a ticklish issue. However, when I asked on this particular issue a few days ago, Com. C H Venkatachalam replied that no fresh deduction would be effected for sharing the additional pension load that may arise due to wage revision and that such amount will be over and above the load factor. But now going by AIBOA's statement, I am afraid, we may have to cough out some portion of the benefit for this too apart from that 18:42 factor.
at last the day has come out for psu bank employees.they have achived the goal.though s.b.i has not signed the MOU.hope they will get pays hike soon.thanks to ufbu and iba.enjoy pays wage.thank u.
Dear friends
3. The additional cost of pension on account of wage revision in excess of statutory contribution of 10% of pay will be shared equally between management and employees [13% of pay each] and the share of employees so calculated will be deducted from the agreed wage increase while revising salary and allowances."
The additional cost in the above sentence means at the time of introducing the pension it was thought that the 10% which is the contributory PF was diverted to the pension and it was sufficient to cover the pension payment. But during the course of the time and inprovement in the pension scheme the cost slowly slowly increased to a 30.5% during the last bipartite (36% right now) out of the 30.5% the sharing ration was like this 10% statutory obligation of the banks (PF contribution diverted to pension) 9.25% by all the employees (including the PF optees) and the remaining 11.25% by banks. This time it is 10% statutory obligation by banks 13% by employees and 13% by banks.
Yes friends the above cost of pension has to be met from the 17.5% agreed now and it is exclusive of the 1800 cr and 4200 cr matter
CongratulationS UFBU!
Atlast, you won the game of chance
for the livelyhood ex-senior employees/officers of Indian Banking Industry towhich none of this community would forget
to recognize this Himalayan Achievement craved under the banner of UBFU till their life time and even the existing employees/officers for having been achieved these minutes ...
Once again, we shall salute
'UBFU ZINDHABAD' & indulge in
'TILL WE SUCCEED, WE WILL FIGHT...'
SHAME SHAME UFBU who had signed the minutes. Bravo Comrade Nadaf 7 other of SBI. I think this is time to break our heads rather than cracking crackers. Should we b happy with lollypop just like a kid. Last settlment was on hike of 13.3% Now it is 17.5% That is difference of 4.2% Just think what had been inflation rate since 2005 Then calculate the hike after squaring off inflation rate Is it honorable?
When good sense prevail to our leaders? Walk out in mass from membership Dont pay levy if asked
THINK TO FILE A WRIT
Shame on Nadaf
Cheated all the employees of nationalised banks(All AIBOC members) and favours his own bank(AISBOF).
Double tongued should fight for all the members whom he represents not only SBI in which he works.
Congrats UFBU
the blessings of all the retired employees and their families are with you.
The new generation and youg bankers who are crying in the blog
Not even a single paisa from your wage revision from your salaries are going to these retired persons.
Not even one young officer wants to contribute to unions they dont sacrifice their personal life and careers every body wants to become General Mangaer and wants others to fight with the management.
Please give information about New Revised Pay
OLD :Nov'2009
Basic - 13210 New - ?
DA - 8322 New - ?
HRA - 793 New - ?
What is new DA % as per new pay.
Who will calculte new pay structure?
Helpme
Please let me know what would be my new salary structure?
Basic Rs 22280.00 New ?
DA Rs 14036.00 New ?
HRA Rs 1448.20 New ?
Thanks
KK Nafees
There is an existing system of offering an annual increment to any bank employee for five and twenty years after a period of which he is subjected to an increment to a paltry increment every three years which would be very much an inequality between the employees and the employers(the officers). It would only be fair to settle for a bi-annual increment. It would be fitting indeed to have an increment if not on the par with the officers to atleast have it frequented on par with them in a country that preaches equality for all and an association that claims to practise it.
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