AIBEA Version :
"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."
Source : AIBEA (The text is as available with AIBEA website)
SBI Association walked out of the meeting, NPS for new entrants w.e.f 01.04.10.
Representatives of SBI employees unions walked out of the deal saying their interests were not protected. But with the United Federation of Banking Unions, the body that represented nine employees associations, signing the minutes of the meeting, the deal is said to have been clinched. Now SBI employees would have to negotiate with the management to ensure that their interests are protected.
SBI Officers may go in strike.
Wage Increases and Pension Option
Wage increase
Banks (all public sector banks, some old generation private sector banks and a few foreign banks) have agreed to an aggregate annual wage increase of Rs 4,816 crore (or 17.5 per cent increase over the collective establishment cost of Rs 27,520 crore as on March-end 2007 on account of employees), said Mr K. Unnikrishnan, Deputy Chief Executive, IBA.
About seven lakh bank employees, including officers, clerical and award staff, will stand to gain due to the wage revision, said Mr Vishwas Utagi, General Secretary, All Bank of Maharashtra Employees Association.
Further, 2.72 lakh existing employees and 35,000 retired employees will benefit as another option for pension is being extended to non-pension optees.
The total liability on account of existing employees exercising the pension option is Rs 6,000 crore and that due to retired employees is Rs 3,116 crore. The gap in the pension liability will be shared between banks (70 per cent) and employees (30 per cent).
Retired employees
Retired employees (non-pension optees), who were in the service of the bank as on September 29, 1995 and March 26, 1996 and retired thereafter, choosing the pension option will be required to return the bank's contribution to the provident fund with interest thereof received by them at the time of retirement.
Further, they have to contribute to the pension fund their share of 30 per cent of the gap in pension fund.
Existing employees (non-pension optees) can exercise the pension option by contributing to the pension fund their share of 30 per cent of the gap in pension fund.
This contribution will be recovered from the arrears payable on wage revision.
According to the agreement, a defined contributory retirement benefit scheme will be introduced for workmen/ officers joining the services of banks on or after April 1, 2010.
Though SBI employee representatives too were part of the negotiations, they were unhappy with the pension agreement as the pension scheme of other public sector banks is better, said Mr Utagi.
The IBA and the unions will finalise the joint note within three months.
(With inputs from Business Standard and Hindu Business Line.)
819 comments :
«Oldest ‹Older 801 – 819 of 819Refer Madappa-March 27, 2010 5:43 PM
No need to believe rumors even when it happens to be true.
We can see when it is published in the websites of Unions.
Joker C H V and Doublespeak hero G D Nadaf are discussing about calling for all India Bank Strike some where during the first week of May and looking forward to IBA for suggesting a date.
Dear all
Please check this up and your valuable comments invited
http://www.allbankingsolutions.com/Union%20subscription%20scam.HTM
Revi
Collection by Unions :
(A) Contribution by Officers :
One estimates says that there are FOUR LACS OFFICERS and on an average they are paying subscriptions @ Rs.100. Thus, total monthly contribution by members / collection by unions is to the tune Rs. 4,00,00,000 (i.e. Rs. FOUR Crores). (This is based on simple calculation 4,00,000 x Rs.100).
Thus yearly contribution of Rs.48,00,00,000/- (i.e. Rs. Forty Eight crores)
(B) Contribution by Workman Staff :
Estimates indicate that there are about SIX LAC workmen staff and they are paying subscriptions @ Rs.40 (Average). Thus total monthly ccontribution by members / collection by unions is to the tune of Rs.2,40,00,000 (Rs.Two crores Forty Lacs). (Again it is a simple calculation 6,00,000 x Rs.40). Thus yearly contribution is Rs.28,40,00,000/- (Rs. Twenty Eight crore Forty Lacs).
(C) Total Contribution By Officers and Workman Staff Towards Union Subscription :
Thus, union leaders are enjoying contribution of Rs.76,40,00,000/- (Rs. Seventy Six Crores and Forty Lacs) per year.
Continu
How much members are spending on each meeting / each union leader i.e. How the collected Funds May Be Being spent:-
It is a known fact that there are only small amount of above contribution spent on Newsletters / Booklets etc. (Say Rs. 6,40,00,000 (Rs. Six crore Forty lacs) per year (i.e. Rs.64 per member). This amount of Rs 64 on newsleters for each member will be considered as on higher side by most of the members as these are received rarely and are mostly photostat / computer print outs, the copies of which are made only on bank's photostat machines / computers etc. by union leaders. Even if you receive five page circular every month, and cost per page is Re1, the total cost is Rs.60/- p.a.).
*
Thus, still Rs.70 crores per year is left with Union leaders. Let us assume further that each bank (say 50 banks) level union holds 4 meetings every year and spends Rs. 5 lacs (50 union leaders x Rs. 10,000/- ) on each meeting for stay entertainment etc. The total expenses will be Rs.10 crores per annum. Thus, balance left will be Rs.60 crores.
*
Let us further assume that each bank level union gives Rs.10 lacs p.a. to state level leaders to meet their local day to day travel for local union meetings etc. The total expenses under this head will be Rs. 5 crores (Rs.10 lacs x 50 banks). Thus balance left will be Rs.55 crores.
*
Let us further say that Rs 5 crores p.a. is spent at industry level for meeting contingencies and other expenses. The amount left is Rs.50 crores.
*
Finally, there are only 50 TOP union leaders (at the helm of affairs at each bank). Thus, they are left with Rs.50 crores i.e. Rs. 1 crore p.a. to be spent by each big leader, and in the manner and way they wish.
MOREOVER, THE ABOVE DOES NOT INCLUDE THE LEVY PAID BY MEMBERS EVERY FIVE YEARS (The levy amount can be staggering amount as it amounts to Rs.200 crores if members as mentioned above contribute @ Rs.2000/- each). Does anybody remembers, how much levy was paid last time and how much unions are expected to ask this time from each member? Members can do their own calculations. If Rs.200 crores are collected and put in a fixed deposit at the lowest rate of 6% p.a.,it earns Rs.12 crore as interest per year and the principal remains intact. What will be done by union leaders with this kind of money?
The collections done by unions from clients of the banks at the time of souvenirs or holding national conclaves etc. is not included in the above calculations. This can also be to the extent of few crores.
Is it the biggest scam of the banking industry?? Is this the reason that no union leader is neither ready to discuss nor disclose the amount spent under each head by the unions. We call upon all the members and union leaders to throw more light on this burning issue and the actual collections and the head-wise expenditure.
Are union leaders working for the members welfare or are they earning huge amounts at the expense of the members?
- Source: AllBankingSolutions.com
Above mentioned is a GOLDEN HISTORY OF UNIONS.
Then also cheaters leaders not ready to work for member's welfare.
Anybody here to defense it?
As per AIUBOF:
UFBU will have talks among themselves on 31st March 2010 at 10.30 A.M. followed by meeting with IBA on the same day at 1.30 P.M.
the UFBU should have their meeting on midnight of 31st March 2010 falling on 1st April to fool the banking fraternity.
Four Officers Organisations will meet on 30.03.2010 at 3.00 P.M. to discuss strategy.
UFBU will have talks among themselves on 31st March 2010 at 10.30 A.M. followed by meeting with IBA on the same day at 1.30 P.M.
Pay Scales finalised from Rs.14500 to Rs.52000. Two Stagnation increments agreed for Scale I, II and III. Settlement will take place tentatively on 12th April 2010.
source: aiubof
IBA – UFBU MEETING - 31.03.2010
Today meeting took place of UFBU followed by IBA in afternoon. In the UFBU meeting it was decided to pursue the issue of Pension with IBA and also to expedite wage revision. The convenor reported that on the equalization demand for PF and incremental cost, IBA/Govt. are not agreed. On date of effect of pension it was decided to further pursue.
In the meeting with IBA, IBA reiterated its earlier position and negatived our demand on incremental cost and PF equalization. Further they informed that in regard to the likely number of persons not opting, some cost adjustments can be made. However after talking to the Govt., the CEO reported that the Govt. is for going by actual numbers only.
In view of the negative attitude of the IBA, UFBU has informed IBA that they are withdrawing all Pension demands. With that meeting ended.
It was agreed to meet IBA on 3rd April 2010 to discuss the issues of wage revision further.
Source: AIBOA WEBSITE
In IBA-UFBU meeting today (31-03-2010), pension cost and PF-Pension balancing issue have been sorted out.
Next meeting with IBA on 3rd April. 2010.
SOURCE AIBEA WEBSITE
BIPARTITE TALKS WITH IBA
UFBU Meeting: A meeting of the UFBU was held today morning in Mumbai under the presidentship of Com. L. Balasubramanian (President, NCBE). After detailed discussions, it was decided that all efforts should be taken to sort out the common issues with the IBA and finalise the settlement on wage revision and pension option without any further delay.
Meeting with IBA: Another round of Bipartite Talks were held between IBA and UFBU today afternoon. IBA was represented by Mr. Ramakrishnan, Chief Executive and other Executives. Representatives of all our nine Unions were present in his meeting. In today’s discussions we took up the common issues like effective date of pension option, equalizing the cost between PF and Pension components, re-working the cost of pension for the employees/officers now in PF and migrating to pension scheme after option , taking into account the possibility of some employees continuing in PF scheme, retirements taken place from 1-11-2007, etc.
On the issue of equalizing the cost of PF and Pension, IBA did not agree to our earlier proposal and hence it has been agreed that the same would be worked out by balancing the corresponding costs of these two components.
On the effective date of pension option, IBA maintained that the while option would be made available to both existing employees and retired employees, it would be effective from the date of Settlement and not from 1-4-2008 as demanded by us. UFBU would pursue this issue further.
On the issue of re-working the cost of pension as proposed by us, IBA did not agree with our proposals to assume the number of employees who would remain in PF, etc. and rather proposed to go with the actual number after implementation of the pension option instead of going by any assumptions. After discussions amongst the constituents, it was decided not to press this issue further and the IBA was accordingly informed of the same.
NEXT MEETING: It has been decided that the next round of meeting with IBA will take place on 3rd April, 2010 – with the workmen unions in the forenoon and with officers associations in the afternoon. In this meeting on 3rd April, efforts would be taken to finalise the distribution of the total amount ( Rs. 2577 crores per year for workmen and Rs. 2239 crores per year for officers ) to various heads like Basic Pay, DA, Stagnation Increments, HRA and other allowances, Medical Aid, PF, Gratuity, Pension, etc. based on the discussions held so far with the IBA. All other connected matters would also be sorted out.
After finalsing this distribution chart on 3-4-2010, the date would be fixed up for signing the Settlement on Wage Revision and Pension Option.
With greetings,
Yours comradely
C.H.VENKATACHALAM
CONVENOR
DISTRIBUTION OF 17.5% WAGE COST IN VARIOUS COMPONENTS OF SALARY AND ALLOWANCES OF OFFICERS FINALISED ON 3RD APRIL 2010 WITH IBA * CIRCULAR FOLLOWS* NEXT MEETING WITH IBA ON 9TH AND 10TH APRIL 2010. FINAL SETTLEMENT BEFORE 15TH APRIL 2010.
-SOURCE :ALL INDIA UNION BANK OFFICERS' FEDERATION
Higher start of Basic Pay demanded but due to cost constraints, IBA not considered.
Basic Pay Rs.14500/- - Rs.52000/-
2. Medical Aid –Rs.5100 / upto Scale III – above Scale III – Rs.6320/-
3. Stagnation Increment for Scale I, II and III – 2 increments
4. Next round of discussion on Residual Issues – 9th & 10th April 2010.
5. On common issues UFBU meeting with IBA on 12.04.2010 for finalizing Pension draft.
6. Settlement will be signed on 15.04.2010
Source: aiboa
As per aiboc:
SCALES
JMGS-I - Rs.14, 500/- TO Rs.31, 500/-@
MMGS-II - Rs.19, 400/- TO Rs.34, 200/-@
MMGS-III - Rs.25, 700/- TO Rs.35, 100/-@
@including two additional stagnation increments
SMGS-IV - Rs.30, 600/- TO Rs.36, 200/-
SMGS-V - Rs.36, 200/- TO Rs.40, 400/-
TEG-VI - Rs.42,000/- TO Rs.46,800/-
TEG-VII - Rs.46,800/- TO Rs.52,000/-
DEARNESS ALLOWANCE
For every 4 points rise/fall in index, Dearness Allowance at 0.15% per slab.
CITY COMPENSATARY ALLOWANCE
We have freezed the existing CCA and utilized the amount towards improvement in Basic Pay. Accordingly, CCA rates will be as under;
Places in Area I - 4% of Basic Pay, Max. Rs.540/- p.m.
Places with population of more than 5 lacs - 3% of Basic Pay,
Max. Rs.375/- p.m.
HOUSE RENT ALLOWANCE
We have retained the existing rate of HRA as under:
Major A class cities - 8.5%
Other places in Area I - 7.5%
Other places - 6.5%
MEDICAL AID –
For officers other than SBI, the medical aid has been enhanced as;
Scale I to III – Rs. 5100/- p.a.
Scale IV & above - Rs. 6320/- p.a.
STAGNATION INCREMENTS:
It is a fact that majority of senior officers in Scale I to III are stagnated as promotions are linked to vacancies. Hence, we have ensured to add two additional stagnation increments in these scales.
Don't pay LEVY.
We can do at least this for better 10th settlement.
AFTER ALL SETTLEMENT IS SIGNED
BUT AT WHOSE COST.?
AGAIN THE LEADERS HAVE DECEIVED THE PF OPTEES BY INCREASING BURDON ON THEM.
DURING THE LAST TWO-THREE
SETTLEMETS LARGE FUNDS DUE TO
PF OPTEES WERE TRANSFERRED BY THESE
CHOR/DACOTS/ROBBER LEADERS
WITHOUT ANY MANDATE FROM PF OPTEES,
IN A DISGUISED MANNER.
TILL YESTERDAY THEY TOLD THAT ALL
MEMBERS IRRESPECTIVE OF PF/PENSION
WILL HAVE TO CONTRIBUTE 1.6 TIMES OF REVISED PAY AS ON 01.11.2007
BUT AT THE TIME OF SIGNING THEY
HAVE SPARED THE PENSION OPTEES AND
LOAD ON PF OPTEES IS INCREASED TO
2.83 TIMES OF REVISED PAY AS ON 01.11.2007.
THESE CHOR LEADERS SHOULD BE STRIPED IN PUBLIC AND HONOURED BY
GARLAND OF CHAPPALS AND PACKS OF BANGLES.
NOW ALL PF OPTEES SHOULD UNITE AND
ASK FOR EXPLANATION FROM IBA AND THESE CHOR LEADERS FOR DIVERSION OF FUNDS IN EARLIER SETTLEMENTS TOWARDS PENSION FUND.DRAG THEM TO COURT UNDER IPC420
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