UFBU Meeting: A meeting of the UFBU was held today (31-03-2010) 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 (31-03-2010) 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 while the 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.
Meeting with IBA: Another round of Bipartite Talks were held between IBA and UFBU today (31-03-2010) 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 while the 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.
Source : AIBEA
Mr Nagendra Kumar has sent an analysis on on-going negotiations by Canara Bank Staff Federation.
View the analysis.
{Comments are welcome on this analysis}
Mr Nagendra Kumar has sent an analysis on on-going negotiations by Canara Bank Staff Federation.
View the analysis.
{Comments are welcome on this analysis}
7 comments :
This version should have been published first instead of urgently publishing a distorted version.One fail to understand as to how the demand of II option of pension for which fighting is being carried out from past 15 years can be withdrawn unilaterally by few persons inviting thousands of legal battles.Anything published should have legal stand.
Referring Mr Shankar....
We apologize for publishing article without verifying. It was our effort to meet the queries of the viewers as soon as possible. If the viewers object, we may consider the genuineness and legal aspects before publishing any news item. We are sorry to say that in that case we may not be able to bring things so quickly...........Administrator.
So now mater is cleared that reading the AIBEA sight that 2nd option for pension is notwithdrawn for one minute being a retired officer waiting for pension option was afraid of that and became nervous.Now some relief got that pension option is there and sorted out.Let us see 3rd April meeting what will come out wage rev and pension.
This is the high time for the Bank Union Leadership to include all past employees to avail pension option. Better would be not to classify them separately e.g. VRS op-tees or resigned or anything else. Leaders can once again regain their respect to bringing them into the Pension benefit. We can never forget that it was a historical blunder by a section of the leadership to mislead them not to opt for pension and afterwards those men took exit from the bank job with tears. Whatever route they have chosen VRS or resigned, is still awaiting for an opportunity for further correction. We only can say, better late than never.
Referring SHYAMALI BABU-April 1, 2010 8:15 PM
Thank you for your clarification. We are 100 % sure that the news item was published in order to provide quick information and the PAY COMMISSION Blog officials have nothing to do with distorted version of AIBOA or they have any bad intention. My concern was only that there are thousands of retirees eagerly waiting for pension from past 15 years having faith in their respective unions. A mild person may even get heart attack by reading such news.Thank god that the correct version has also been published quickly
Referring pradip-April 2, 2010 6:16 AM
It is true that there should not be any discrimination among VRS optees and Resigned employees.Their number is also meager.However VRS optees were sent out by Managements for downsizing banks where as resigned employees left the banks for their own convenience and some might have taken gainful employment. Ascertaining such facts may take some more time.However we wish that everybody who has left banks will get pension option at the earliest.
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
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