CIRCULAR NO: 84 7th JUNE, 2010
TO ALL AFFILIATES/MEMBERS:
We are happy to inform all our members that the concluding part of our settlement that is the implementation of the 9th Bipartite Settlement entered into between the Confederation and IBA for its implementation, pending amendment to Officers’ Service Regulations have since been received from the Government. The IBA has already issued communication to the Member Banks to implement and pay the arrears of salary as per the settlement reached with us. The IBA has also further instructed the banks to be in preparedness for the introduction of the 2nd Option on Pension since the formalities of getting approval from Government is in process.
2. Comrades, the long drawn struggle, the continuous process of dialogue, the discussions and the conclusion of the agreement on the salary revision as well as the 2nd Option on Pension is a historical development in the Bank Officers’ movement. This glorious chapter comes to an end with a happy note of the implementation of the 9th Bipartite immediately and the 2nd Option on Pension in due course. We will also keep our pressure on to ensure that the instruction for the implementation of the 2nd Option on Pension is received at the earliest from the Government to enable our members to avail the benefit. Our affiliates are advised to take up with their respective management and see that the salary arrears as well as the implementation of the revised salary scales are implemented at the earliest possible.
3. Please also note to collect the levy amount as already advised and remit the same to us as early as possible.
With greetings,
(G.D.NADAF)
GENERAL SECRETARY
14 comments :
It appears to be a circulated letter from Mr.Nadaf among AIBOC members to pay the levy first and other issues (go to hell) later.
'Long live Nadaf' for what and nobody knows why he is still the leader of the association!
Officers are ashamed of being the members of AIBOC under the leadership of ........
Then the only solution now is dont pay levy and resign from Union
It is not clear why approval from Govt for implementation of Second pension option should take so much time.It is now more than a month since the settlement was signed. contrast this with the decision taken for enhancement in pay and allowances for members of parliament/state legislatures.Why not the same speed for Bankers. Vasudevan
IBA circular on implementation aspects which details step by step actions to be taken should have been put on web so that those out of banks can know what should be done and what are the terms and conditions of the offer of 2nd option especially to retired and voluntarily retired. This is to ensure that IBA does not again goof upo Reg 28 and 29 (5) with some new amendments.
At last Govt has given clearance for wage revision now fitment of basic as additional two stag inc have been given in settlement.As I have got 1st stag inc in July 2000 and thereafter I got 2nd stag on Dec 2007 because of my promotion to scale III pl any body clarify me whether I am entitled 2nd stag inc on 01-11-2007 and July 2008 as I will complete 8 years.I retired 0n 30-04-2010.Now how many days we have to wait for 2nd option of pension after paying huge refund of 156% which is very very injustice to those who have retired from 01-11-2007 to 26-04-2010.Pl clarify me above.
my mail desai.shridharp@gmail.com.
Will there be 3rd pension option ? yes 100% How? & why?
As per Unions Joint note the present and x-employee would be benefited with pension option.
1. Retired Pf optees.
2. Family(Widow) of retired pf opteees but as on date died.
3. Vrs 2000 Pf optees.
4. Existing Working pf optees.
Case1 Reteried pf optees are of 2 types.
a Retired at superannuation
b. Retired at his own wish ( vr)
Here only retired at superannuation with pf will get this pension option.
retired at his own wish but was denied Vr and was forced to write word resign in the application cant get pension.
case2.
Family of (Widow) of died pf optees here also if the employee was forced to resign instead of Vr would wont be able to take this option. and others even if they can take it would be like taking a loan to get pension because they will not get commutations.
case3
Vrs 2000 pf opteees The terms & conditions are not mentioned clearly in the joint note of what they will have to pay. They may ask the full handshake amount back.
Case4.
Existing Working Pf optees.
After reading the traps laid for above 3 cases. Do you think we pf optees will get pension option withouts any conditions.
I doubt.
Maybe we too will have to read that to opt pension besides contributing cpf with interest we have to pay 2.8 times of Nov 2007 pay and maybe there would be some more conditions like that we cant get vr and or commutations.
See if we cant get vr then why anyone would opt for pension. and if we cant get commutations then why anyone will join pension.
Frankly this 2ND PENSION OPTION IS GOING TO BE TOTAL FAILURE AND NEXT YEAR IBA WILL HAVE TO BRING IN A MORE LIBERAL PENSION OPTION.
What crap i am talking you all must be thinking no ok listen
IT WILL HAVE TO BECAUSE IBA/BANKS WANTS YOUR CPF BEFORE 2012 OTHERWISE THEY WILL NOT BE ABLE TO MAKE THE PENSION OR COMMUTATIONS TO THE PERSONS WHO ARE GOING IN SUPERANNUATION BY 2012 IN A BIG WAY ( nearly 35 to 40% of the eisting bank employees are to retire by 2012. as per the statastics. Mostly they are all above scale 4 people who got good wage revision in this 9th wage settlements.SO THEY CAN GET GOOD 50% PENSION BUT WHERE IS THE MONEY TO MAKE PENSION OR GIVE COMMUTATIONS.
GOI OR FM IS NOT GOING TO GIVE BANKS TO PAY COMMUTATIONS OR PENSIONS.
WHO WILL GIVE THEN.
AS USUAL EXISTING PF OPTEES WILL HAVE TO SURRENDER THEIR CPF IN LIEU OF PENSION OPTION + 2.8% OF NOV 2007 PAY AND MAYBE ALONG WITH SOME HIDDEN CONDITIONS THAT NEW PF OPTEES JOINING PENSION WOULD NOT GET VR AND OR COMMUTATIONS. ( THIS iBA WAS TALKING OF EARLIER. AND IBA HAS GOT ALL IT WANTED BY HOOK OR CROOK AND THAT EVERYONE KNOWS IN THIS LAST 15 YRS.)
DO ANY ONE STILL BELEIVE IF THIS PENSION OPTION IS GOING TO BE SUCCESSFULL THEN WAIT AND SEE THE OPTION LETTER YOU ALL WILL RECEIVE.
JUST DONT BLINDLY OPT FOR PENSION WITHOUT READING THE TERMS & CONDITIONS.
contd...
DONT FORGET THE VRS 2000 SCAM WHERE MANY PF AND EVEN PENSION OPTEES WERE CHEATED BY BANKS.
AN EXAMPLE. OF CHEATING WITH A PENSION OPTEE.
"I have gone through your site and agree that there is a very thin dividing line between retiring and resignation.
My case is slightly different. I opted for pension from the very beginning. In 1999, when I got a better opportunity, I asked Bank of Maharashtra to treat my case as VRS. However since I had not completed 20 years of service ( 16.5 years in Bank of Maharashtra and earlier around 2years 9 months in Canara Bank), the Bank wrote back to me to say that they could not treat my case as a VRS but if agreeable they could consider it as a RESIGNATION. I had no choice but to agree. So I asked them to give me Bank’s contribution to PF instead of pension. They said that there was a provision to transfer Bank’s contribution to PF to the Pension fund but the rules in 1999 did not allow for transferring the other way around i.e. from Pension fund to Bank’s contribution to PF. As a result, I not only did not get pension but did not even get Bank’s contribution to PF.
so once you opt for pension your cpf is gone for ever.
SO THNIK 1000 TIMES READ ALL THE TERMS & CONDITIONS BEFORE OPTING PENSION
Another option 3rd & last pension option is coming next year more better in terms & conditions then this one.
Is there any problem still Govt has not cleared the pension issue.Now 45 days are over still Govt has not given clearence.Whether govt is studying the settlement or any thing else to clear it.As retirees are very much eager to get pension for which they were waiting for last 15 years.As retirees from 01-11-2007 to 26-04-2010 for them it is very very injustice to pay 156%of pf when the calculations of pension cost was considered as on 01-11-2007.Now what is the use.At least leaders should press the govt to expedite the matter earliest possible.Retirees at least enjoy pension for 4-5 years before they breath last.So i request to the great leaders to act fast dont say wait for some more days etc.
Refer Shridhar's post reg delay in clearance for second option of pension. A formal clearance especially after settlement has been signed after considerable delay,presumably after profound discussions, should not take so much time.
The govt clears hikes in remuneration payable to MPs/MLAs irrespective of the outlay with utmost alacrity. When it comes to poor bankers, who in fact are contributing to pension fund, things do not move with reasonable speed.Would the leaders take up the matter with the concerned and ensure that clearance is obtained without much delay. The inordinate wait is agonizing . Vasudevan
I took VRS in Dec' 2000. My basic at that time was Rs.15000/-. I would like to opt for the Pension option.Can any body clarify me whether I would get pension on the basis of my basic at retirement or corresoponding basic of previous Bipartite Settlement?......Srinivasan. Please reply to my email keelveedi@yaho.com
What the leaders are doing and not so serious to get the clearance for 2nd option pension from govt at the earliest already 45 days have passed on getting the approval all banks will start 60 days for offer and then 30 days to refund pf ect and then pension will start so it will take another 120 days to get regular pension this is the position of retirees those who were waiting for it since last 15 years as union leaders only told in 1995-96 no pension if service is more that 12-15 years now they have achived it but why delay in implementation.
Referring to Sridhar-June 11, 2010 10:03 AM
Another point is that the commutation amount will get reduced due to crossing of next birth day by retirees for which they are not responsible.Due to delay by Government several thousands of retirees will get lesser amount of commutation without their fault.Hence Government should clear the same immediately.
referring to Srinivasan-June 10, 2010 7:42 PM
Your basic pension will be fixed on the basis of the average of last ten months basic salary actually drawn+applicable allowances ranking for PF.
Dear Mr. Chandan, I am an exserviceman with 15 years of service getting defence pension. Later I joined a PSB and got special vrs in 2001 after 14 years of service. Now, my option for second pension is declined. I request your help and advice, whether, 1)I can get service relaxation to get bank pension or 2)is there any possibility to merge the defence service 15 years with banks 14 years service to get ONE pension. pls reply at the earliest. smesan@gmail.com
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