Tuesday, December 8, 2009

IBA core committee will meet UFBU on 9 and 10th Dec. Meghalaya to release 40 pc of arrears of new pay scale

Core Group of the Negotiating Committee of IBA will Meet UFBU on 9th and 10th December, 2009 to start the work relating to finalize the 9th Bipartite Settlement.


Meghalaya to release 40 pc of arrears of new pay scale

The Meghalaya government employees will get 40 per cent of the arrears of the revised pay scale in this financial year, state?s Finance Minister Mukul Sangma told the assembly today.

"The state government has implemented the revised pay scales with effect from January 1, 2007, and the new pay scales have been authorised to be drawn by the employees from September this year, he said replying to a question.

The government, Sangma said, proposes to release 40 per cent of the arrear during 2009-10 subject to availability of funds.

"The balance 60 per cent will be considered as and when funds are available," he said.

The financial implication of the pay revision of the employees involves an additional liability of Rs 332 crore annually, taking the total annual salary burden to Rs 1683.16 crore.

Source : PTI
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7 comments :

vatsala said...

what is use of core committe?

do they perform and act on the cries of affected persons?

Or it is a monopoly team?

December 9, 2009 at 7:10 AM
Unknown said...

What is the sense in the meeting where logics do not prevail.They have already taken a call to relegate the Bank Officers to the level of Central Govt.LDCs.The hue and cry made by inefficient leaders who have never worked in the Bank and they do not know what to days banking is.The negotiation table enlightened and led by a retired clerks who are self appointed leaders of the Bankers.They do the settlememnt on behalf of GMs.The Organisation/PSUs whose CMDs do not support the Staff are bound to get raw deal.Biggest problem is that Banking is under MOF which is always against any salary tise. The out put is infront of everybody in the form of MOU @17.50%,which no body could understand.So colleagues specially younger one flee to any other sector if you can .This will free you from clutches of clerks/peons.Sad part is Direct recruit officers are never a part of any settlement and their interests are never taken care by Unions/Management.Most of the CMDs are DROs they should take care of them but same is not happening.In some of the Bank theit insult starts from day one and continue till they leave the job.

December 9, 2009 at 3:54 PM
workplace bullying said...

Many youngsters who joined recently are making various comments against the seniors and second option of pension without understanding the basics of Pension and Wages. Even many employees with service of over 20 years are confused about these facts and are blinking. Many trade union leaders are not able to explain the essence of the demands of UFBU in real terms to their members. In banking industry service mind alone works faster than qualification and several matriculates have become Chairman in Banks where as people with several degrees behind their names could not reach to the top.

In the past after pension was introduced in the Banking Industry due to various reasons many employees did not opt for pension, and one among them was the strike clause in the pension offer. After the same was amended by IBA many felt for not having opted for pension. In the same period interest on Bank deposits fell below 8% and bank employees started repenting for the mistake of not opting for Pension. Realising this, UFBU started demanding from 1996 till 31.10.2007 among other things:-

Second pension option and Compassionate appointment. After 01.11.2007-Wage revision, Expedition of Second pension option and Compassionate appointment

MOU now signed by IBA on 27.11.2009 clearly states that ” The IBA and UFBU entered into a MOU on 25.02.2008 on various issues. Extending another option for pension to those who did not opt for pension when Bank Employees Pension Regulation 1995 was implemented was one of the issues to be considered. Several rounds of discussion have taken place on the issue. An actuarial valuation of the liability was assessed through two commonly agreed actuaries who identified the total liability for extending another option for pension to non-optees. “

The MOU of February 2008 was before commencement of negotiations in respect of wage revision. IBA has categorically and in unequivocal terms said that the total burden for wage revision can not go beyond 17.50 % at any cost which is Rs 4816 crores annually. This is for DISTRIBUTION among employees. The share of 4200 crores by IBA towards pension corpus fund will REMAIN WITH THE MANAGEMENTS FOR EVER together with employees share of 1200+11532 crores (Total 17190 crores) and this is NOT A GIFT and will not be available for distribution among employees. Instead of transferring a portion of the profit to the Government, it will be kept as corpus fund separately by managements and only the profit generated out of this fund will be distributed as pension to retirees.(Just like a parents keeping FDs to enjoy interest by his children which can be utilised by them at any time.)

Many are arguing that with this amount the employees would have got more arrears. When this amount is not for distribution and not a gift, and IBA has rejected any increase beyond 17.50 % how it will be available to employees’ god only knows. 2 to 3 lakhs employees have been participating in the strike calls for one more option for pension since 1995 to 2008 and not for arrears alone. If these employees have not participated in the strike call UFBU would be a total failure and the remaining employees would not have got even 10 % wage increase. The existing PF optees never refused to share their burden of additional 3 % PF every month from 1995 onwards had one more option was extended then itself and the question of additional burden would not have arisen.

The future generation of bank employees are cautioned to be vigilant and monitor this pension fund by studying the balance sheets of their respective banks every year so as to ensure that this fund is not diverted by the managements and siphoned to other activities and pension is available to every employee (The best example is UTI where in the Management diverted funds at the cost of investors). to be continued

December 9, 2009 at 9:42 PM
Swami said...

Dear Comrades, Today's meeting with IBA nothing interest. They have presented their papers for many improvement in banking operations and changes / restrictions on the service conditions and outsourcing. tommorrow the single meeting by 2 30 pm bifurcated to 2 meeting. one with award unions and other with officer associations where the agenda is Load factor. AIBOC is convening their committee meeting at Bangalore on 14-12-2009 to discuss and decide what to accept and decide based on the load factor offered 2morrow. By 16th there will be a throw of light. Though the General secretaries are having data of Cost of Pension / additional cost 13%, they are not divulging. If this is divulged, then the true increase can be assessed. Dear workshop bullying - ur opinions are good. Good night.

December 9, 2009 at 10:48 PM
mohanlal52 said...

Respected Shri Swami ji,

Kindly advise the overall increase in percentage terms in wage burden on Banks (Other than SBI) and SBI separately over the wage bill for 2007, in case SBI officers and Employees Federations had signed the MOU and had not asked for inclusion of clause for improvement in their pensions/ allowances etc. to arrive at a fair conclusion.

Regards

December 10, 2009 at 6:23 PM
Swami said...

Dear Comrades, in the morning Award unions met and confirmed and mou reached on 2836 points DA merger (as agreed in Jan 2009) 137 slabs merger. Unions presented an increase of 22% additional load for Clerical cadre and 25% increase for sub staff on the old scales of pay + DA merger at 137 slabs. But this will be furnither negotiated through another meeting in 10 days time with Small committee Mou to be presented to Large Committee of IBA for signing 1st level Mou pay structure. SMALL, LARGE IS IT NOT INTERESTING. For Officers it seemes 20% addl load + 24.66$ DA. New BP could be 14500 being minimum increase. But none of the Officer Associations divulged this. Hope for a better hike. Good night. Enjoy One week Gap.

December 10, 2009 at 11:04 PM
Swami said...

Regarding Pension cost, all are in a confused state of affair as this takes away good amount while taking for pay scale & other benefits. The deficit arrived at for Pension is as on 31.3.2008 only. Then what about Pension cost of who retire between 1.4.2008 to 28.2.2010. How many PF optees, now choosing Pension option their outgo. There is no figure readily available with them. Can anybody enlighten any data for any leaders any bank ? Do Share.
I wish to start " ishare " Information Park of Bank Employees Movement on Internet. Shall we start. What will be the cost. Can anybody assess. Not only for rights, money, but also for knowledge, studies etc.,

December 10, 2009 at 11:11 PM

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