Wednesday, February 17, 2010

SBI officers want Govt. to make pension scheme better.

The State Bank of India Officers’ Association (SBIOA) wants its management to announce an improved pension scheme for the bank’s 60,000 officers and 1.20 lakh other employees simultaneously with the industry-wide ninth bipartite wage settlement, whenever the overdue settlement takes place.
The United Forum of Bank Unions (UFBU), the association of bank employees of 19 nationalized commercial banks in the country, all of whom come under one or the other nine bank unions forming the Forum is, for quite some time now, in negotiation with the Indian Banks' Association (IBA), the body representing the different bank managements, over finalising the ninth industry-wide bipartite settlement.
Speaking to FE here on Sunday, G D Nadaf, general secretary, All India Bank Officers’ Confederation (AIBOC), who is also general secretary of the All India State Bank Officers’ Federation (AISBOF), said despite the seven-day nation-wide strike in 2006, the SBI management had “done little” towards improving its existing pension scheme.
“The improvements are yet to come; we have already taken up the issue with the government, we want this issue also to be settled along with the industry-level ninth bipartite currently underway,” said Nadaf.
Among the improvements being demanded by the AISBOF in the bank’s existing pension scheme are that the pension amount receivable by the employee should be 50% of his/her last earned basic pay; that all old pensioners from 1997-98 should also be brought under the fold of the improved scheme as such pensions relate to the 1991 pay-scale.
It also wants 100% neutralisation of dearness allowance (DA) in its pension scheme, which today is there only for employees who continue to serve the bank and not for its pensioners.
The AISBOF general secretary, who was here to attend the 19th triennial general body meeting of State Bank of India Officers’ Association (Patna circle), said the commutation formula in SBI’s existing pension scheme too needed improvement as it was the “worst” in the industry. He said the federation also wants that SBI should incur a proportionate cost of that to be spent by the rest of the industry i.e Rs 6,300 crore for implementing the recently agreed second pension option for banking industry personnel other than SBI.
As SBI had in 1993 borne a proportionate cost in implementing the first industry-wide pension option, Nadaf said the bank should, this time too, share the cost.
Source: The Financial Express


SHANKAR said...

Whatever may be the argument put forth by the general secretary of SBI, ordinary staff members of other nationalized banks are not convinced.Any pension scheme is to be implemented at bank's level and as such the matter can be discussed with the SBI management by SBI unios separately since the MOU signed by UFBU with IBA on 27.11.2009 is not applicable to SBI. Hence linking their demands with this wage revision is not convincing. Whatever extra benefits SBI staff are getting are not made available to staff members of other banks other than SBI.Further pension is a third benefit to SBI staff and not second benefit as in the case of other Nationalized banks.

chandan said...


In SBI sub-staffs to scale-I officers have always been drawing 50% pension on their retirement as like their counterparts in Nationalised banks.Rather in SBI full pension is on 30 years of service, where the same is 33 years for nationalised & associates. Only difference in SBI pension is, Scale-II 46% then gradually in upper scales it reduces to 40%.So fighting for an executive in the rank of CM in Scale-IV to CGM in Special scale-I this 50% drama of weeping crocodile tears how far is justified and acceptable to the rank and file is certainly questionable. A sub-staff sacrificing his day's salary for the cause of a GM or CGM looks quite funny.

In 1993 SBI employees had also been offered present Industrial level pension, which they didn't opted. At that time each and every nationalised bank employee got benefits of pension, though a big number didn't opt for the same. But this time the case is not identical to 1993. We pension optees in nationalised banks have nothing to be benefited from this second option. So why SBI employees who are already enjoying pension with cpf will be benefited under the umbrella of collective bargaining?

There are also apprehensions from every nook and corner, that G.D.Nadaf may lose his General Secretary position either in AIBOC or in AISBOF, if he fails to balance properly & settle amicably, elements of superior & inferior complex between SBI and Nationalised Banks on wage settlement.


mohanlal52 said...

Wage revision - Counter proposal on behalf of AIBOC, AIBOA, INBOC & NOBO for construction of new pay scales submitted to IBA on 19th February 2010. Next meeting likely to be on 25th Feb. 2010

Source - SBIOA Union Leader

karan said...

Anyone knows the detail of the Counter proposal submitted to IBA from officer's Association on 19th feb.please mention details of pay scale and other benefits submitted ny the Association.

RAJ said...

Mr chandan, the pensioners in nationalised banks will be getting more than that of sbi after the revision in pension this time. so your singing the tune is wrong. The nationalised banks have leveraged the strength of 2 lac plus employees in gaining their objective for the 2nd option of pension. Suffice it to say that let Mr Nadaf do his job of getting the 50% pension without any hindrance from such quarters like you. If your associations leaders cannot negotiate with your management to get its members some benefits then think about the idea of replacement.

Vasu said...

Just a single days strike and BSNL employees have achieved their objective. As is being telecast in News channels right now, all their demands seem to have been accepted by the Govt. The strike is being called off hence. Contrast this with the failure of our leaders to force the issue during March. It is still not clear as to how it was announced by all leaders that settlement would be signed by 15.4.10 when both IBA and UFBU were very rigid on certain issues till 13 th April. The leaders should forthwith share the developments with members. Vasudevan

amarjit singh said...

it is reilably learnt that ufbu leaders has meeting with f m today
regading effective date of pension
in banking industry

chandan said...

Referring RAJ 20, 2010 12:28 PM:

Dear Mr. RAJ,

I am a clerical staff member of a Nationalised Bank recruited through the then BSRB in 1992. That year I stood second in the exam, but due to distribution system of BSRBs, prevailed at that time many of top rankers pushed to nationalised banks.Otherwise if exercising of option was there, today many of us would have been in SBI enjoying CPF,GRATUITY & PENSION.No where in India I ever seen such a faulty system of distribution after selection.Many who at that time(1986-2001) got into SBI in our cadre were quite inferior to me and my friends at their level of Human Resource.

Though I am in a nationalised bank, it never means that I have a blind support for these organisations.The culture of nationalised banks are definitely inferior to SBI.But at the same time as on date the jobs in SBI are also quite inferior to GOI and other PSUs in a number of respect.Today 99% employees/officers are quite dissatisfied with their jobs in any bank.It is not only for low salary, but also for huge work load and high risk & responsibility.

The question is that how far shall SBI union be able to continue this CPF & SBI pension for new recruitees after Dt:01/04/2010?I am happy to find a satisfy and patriotic union member in you as because most of us are dissatisfied with our present union leaders.Please keep it up and be an example for others in days to come.

Regarding nationalised bank pension etc that you mentioned; you please come with proper calculation based on facts and settlement. Unless you come with these it is not possible to accept your view on comparison.

By the way how is Mr. Nadaf ? I heard that he and Mr. Mutthuswami are living out of briefcase for last one year, moving around places like nomads and enjoying an occasional meals of dal-rice or wada pav. This is a reference from SBI Officers' Association, Mumbai Circle letter Dt: 07/04/2010.


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