The entire circular is published here for the viewers.
CIRCULAR NO:106 DATE: 24.07.2010
TO ALL AFFILIATES/MEMBERS:
2ND OPTION ON PENSION – IMPLEMENTATION OF AGREEMENT
HURDLES OF LITIGATION ETC.,
We have been receiving anxious enquiries from the entire bank officers’ fraternity all over the country as to the process of the implementation of the 2nd option on Pension as agreed at the industry level between the Constituents of the United Forum of Bank Unions and the Indian Banks’ Association. Our comrades may recollect that, the issue was being pursued by the Confederation and it was taken up with the Indian Banks’ Association as well as the Government authorities for speeding up the entire process of issuance of notification and extension of offer of the scheme as required under the agreement. However, in the meanwhile, some of the CPF Optees have approached the Hon’ble High Court of Madras for bringing stay on the grounds that the contribution of 2.8 times of the “pay” as on 01.11.2007 as per the agreement dated 27.04.2010 by the P.F.Optees alone is discriminatory and hence the Court should stay the operation of the agreement. The Court has granted a temporary stay on 29.06.2010 against recovery of 2.8 times of pay from the arrears of salary and allowances from CPF optees subject to the hearing of the case.
2. The case is getting listed but could not reach the stage of hearing so far. We have been in touch with the Indian Banks’ Association and the Government authorities for early moving of the court to get the matter resolved so that the implementation of the agreement can be smooth one. Unfortunately, there are certain developments in between. The payment of arrears in Canara Bank took place after the temporary stay was granted by the Court; the petitioners have raised the issue of contempt of court and compelled the Management of Canara Bank to refund the amount recovered. Fearing the contempt proceedings Bank has returned the amount recovered from the award staff. As the Confederation or any other Officers’ organization is not a party to this petition, they have not returned the amount recovered from the Officers concerned.
3. It is in this background we have taken up the matter with the IBA for immediate action on their part. We are now given to understand that in view of the inordinate delay and the frustration it is causing to the entire workforce, the IBA is now planning to go before the Bench of Hon’ble High Court of Madras, raising the issue of urgency in getting the agreement implemented and seeking quashing of the case. We are confident that the issue is expected to be sorted out by the end of next week.
4. We are in touch with the Convener of United Forum of Bank Unions and he is also seized of the matter and had a detailed discussion with the Indian Banks’ Association. We have also decided to raise the issue in the meeting of the United Forum of Bank Unions which is scheduled on 26th of July 2010 at Mumbai to deliberate on all these developments and take appropriate decision in the matter.
5. We have been receiving a number of communications and anxious enquiries from different parts of the country. Our affiliates should keep a close watch about these developments and should ensure that the interests of the Officers are protected. If there are any unsavory developments they should be in touch with the leadership of the Confederation for necessary guidance. They should also convey to their respective management that as regards the Officers the status will continue and there is no question of return of the contribution.
6. We note to keep advised of further developments in the matter. Source : All India Bank Officers' Confederation
22 comments :
God has given but priest is preventing. This is the case now.Entire matter should be left to individual employees either to opt or reject the second option. If it is beneficial or not they have to decide on their own. Since there is no restrictive clause of forefeiture of pension, everybody can take his/her own decision. Now no body will listen to other's advise in view of the past experience. Hence should not be any compulsion from any corner
What happened court case on 26th no news still stay is not vacated.For retirees AIBOC says there is no stay then why late to issue option letters ect.Only saying iba has recommended to govt and govt has considered favorably but for implementation govt is not giving instructions to iba for implementation to retirees.every morning going to web site hoping that some thing will come for it.but no news.why our great leaders are keeping mum only issuing one circular in 15 days that we are following up with iba thatsall.tell us how many days,months and years we have to wait.already retirees are 70 plus let them enjoy pension which has come after 15 years.So i request leaders to give priority to this important issue instead of arranging silver jubilee functions.After implementation let them have all types of functions we will also participate if we are called for it as we have also served the banking institution for more that 38 years.So try to press iba/govt for early implementation.Thanks
Ref: shridhars' post of 28/7/2010. I fully endorse his views. As those in service have no immediate concern they could afford to wait. But retired persons who have not opted for pension and who hope to avail of the present offer are literally in their last legs of life and are anxious to avail of the benefit. If the ongoing court case does not in any way restrict the retirees case why not issue option letter to them without delay. Will the leaders enlighten on this and let all know what is the hitch and why there is delay in instructions being issued to Banks by IBA...Vasudevan
I STRONGLY SUPPORT THE VIEWS OF M/S SRIDHAR AND VASU WHO HAVE VENT OUT THEIR FEELINGS FROM THE BOTTOM OF THEIR HEARTS. I AM ALSO ONE OF THE RETIRED PERSONS RECENTLY(MAY 2010) AND REQUESTED TO HOLD BANK'S PF CONTRIBUTION AND WITHOUT SALARY/PENSION FOR THE PAST 3 MONTHS.THE PROGRESS IN THE HIGHCOURT IS NOT POSTED THEN AND THERE TO RELIEVE US FROM ANXIETY OR TO KNOW WHERE THE MATTER STANDS. BETTER THEY LEAVE IT TO INDIVIDUALS ND THE LEADERS SHOULD SINCERELY TRY TO PERSUADE THE IBA TO ISSUE OPTION LETTERS ATLEAST TO THOSE WHO HAVE RETIRED.
A.G.SURESH
RETIRED SENIOR MANAGER
CANARA BANK
CHENNAI CIRCLE OFFICE
Leaders will do what is beneficial to them by way of publicity etc. They are definitely more concerned about silver jubilee celebrations than pension of retired officers who are not members of their associations. They are professionals and know well, to whom they should support and give yield to them
when everybody says no court stay for pension to retirees then why there is a delay in sending option letters to retirees from respective banks. IBA,UFBU,AIBOC AIBOA AIBEA NCBE SHOULD ACT IMMEDIATELY to do justice to retirees MAJORITY are senior citizens
Really what is going on no body knows court case was on 26th no news whether stay order is vacated or not.Retired people are anxiously waiting for it and i think most of them are ready to pay 156% as we made mistake not opting pension in 1995-96 because of our great leaders only.But now when they have achieved it.still after 3 months no option letters ect.When there is no stay for retirees why late from iba to give instructions to banks for implementation what is the problem sir.Why our leaders of AIBOC,AIBEA,AIBOA,NCBE,NOBW,BEFI AND OTHERS have kept quite no news from there website.what is wrong.are they busy with some other functions or what as AIBOC is busy with silver jubilee functions.AIBOA is also not giving any information.So i think it will take again 30 months to start process of giving option letters ect.then poor retirees will get first pension i dont know how many of retirees will get benefit of it before they breath last as most of them are 70 plus.I pray God to give them life for some more years to enjoy pension for which they were waiting for last 15 years after serving the bank for more that 35-40 years and brought the banking industry to such a great level dont forget those people and try to implement earliest possible.Thanks.
IBA is planning to file a writ petition seeking vacation of stay (source; AIBOA site); However no one knows as to what happened on 26th with none of the unions caring to update the status on a day to day basis in their respective sites.I only hope that the concerned would consider the plight of retirees and ensure that option letter is issued to them at least, to begin with. It is not even clear as to whether this issue has been taken up with IBA. Vasudevan
Where is the lawyer who gave the legal opinion based on which IBA and all the union leaders hurriedly changed the recovery from all to recovery from PF optees only. Why the same lawyer is not asked to fight out the case at Supreme Court and settle the issue once for all.
These union leaders had agreed to change the recovery from 1.6 times to 2.8 times on the plea that some pension optees had filed a case against the same. These union leaders had openly admitted in the public domain that from their heart they were convinced that recovery should be from all, but due to fear of legal opinion placed by IBA, they were coerced to agree to recovery from only PF optees. Now we are again at the same place. Did they not envisage that PF optees can go to court as they had shared the burden in earlier BPS?
In nutshell we can say that poor bank employees are now at the mercy of the courts, IBA and union leaders. They have got peanut increase in the salary, no pension in sight, paid levy to union leaders, and once again started toiling their sweat for the bank. Union leaders are now basking the glory of their so called historic settlement and hefty levy already recovered from the arrears paid.
In response to my mail Mr.CHvenkatachalam was kind enough to reassure tha unions are doing all they could to resole the issue. It also appears that IBA has filed a writ for vacation of stay. Mr.CHV also wondered why retirees and others those who are anxious to avail of the Second pension offer, have not come forward to implead themselves in the court case and press for early implementation of second pension scheme. I request members to react. Vasudevan
This is just to correct two spelling mistakes of my post.The word tha should read as 'that'. The word resole should read as 'resolve'
Vasudevan
Will any body guide me regarding my fitment of BP as per 9th bp.
I retired from bank of india on 30th april 2009.
I reached maximum in scale MM II on 01-07-1999.my bp was Rs.22280/-
I got first stag inc on 01-07-2002
and my bp was Rs.22900/-in scale II.
My 2nd stag inc was due on 01-07-2005 i could not get it because not promoted to scale III.
I promoted to scale III on 01-12-2007 and got 2nd stag inc and my basic pay was Rs.23520/-from 01-12-2007.
As per my opinion and AIBOC circular i should get 1st addl inc on 01-11-2007 and my bp should be Rs.33300/-as completed 5 years from 2002 last inc drawn.And 2nd addl inc should have been given on 01-07-2008 as completed 6 years from 01-07-2002 and my basic pay should be Rs.34200/-from 01-07-2008.But our zonal office have given me Rs.32400/-on 01-11-2007 and Rs.33300/-from 01-12-2007.So pl clarify if any body knows detailed of it.Thanks.
IBA came forward to plead with Chennai High Court for withdrawal of Stay order.None of the UFBU members have pleaded with high court. Surprisingly some of the defendant unions/associations are yet to submit their affidavits as directed by court to take a view by court.UFBU zindabad for teir concern for the their members.
IBA came forward to plead with Chennai High Court for withdrawal of Stay order.None of the UFBU members have pleaded with high court. Surprisingly some of the defendant unions/associations are yet to submit their affidavits as directed by court to take a view by court.UFBU zindabad for their concern for the their members.
It appears that the writ filed by IBA is listed for today (3.8.2010). It is surprising as to why some of the constituents are yet to file affidavits in response to the notice issued by High Court.At this rate it is anybody's as to the time that would take for completion of the process. UFBU should advise all constituents to file affidavits without delay and urge IBA to issue option letters to at least retirees to begin with . Vasudevan
AIBEA'S Pension Helpline preferred to keep mum over my following query (may be owing to the fact I'm retired neither under Superannuation nor under Special VRS,but under bank's VRS).
I’m a PF optee, took VRS (Not Resignation) at the age of 59 as an Officer on 15th November 2007 after serving 3 months notice, worked for 32 years 6 months & 15 days.
Could anyone enlighten me whether I would be eligible for the 2nd Pension option. - S.Patnaik
In IBA's affidavit at para 9 they say :
"The retirees post 27.11.2009 are in danger of not receiving any pension at all due to lack of funds, a situation created by the interim order. Had the interim order not been passed, the new pension optees would have contributed to the fund and would have been immediately benefited".
The above para indicates , the banks are running short of funds, and these funds are immediately required to run a money circulation scheme to pay pension . If that is true , then people who are opting for pension will be sitting on a volcano as after paying all these amount, they may not be able to get the pension after few months.So it is true that after the mass retirement between 2012-2015, there will be no pension fund reserve.
Really what type of thing are going on.Since 6th July case at Madras High court is not coming up for hearing is it justified by the court seeing harassment to the retirees who are eagerly waiting for 2nd option pension since last 15 years.As quoted by some body that it will implement only after the death of retirees see the frustration of the retirees.Every day court is postponing the case for one or the other reasons only God knows when the stay will vacate and retirees will get their first pension and enjoy to some extent.It is really very very shame on the part of the leaders as they have kept quiet and became only spectators.Poor retirees like me how many months we have to wait.So leaders try to get the stay vacated and give relief to retirees.AIBOC says no stay for retirees then why they are not pressing iba to give instructions to bankers for implementation for issuing offer letter ect.do something at the earliest.
Mr.Shridhar,
Now it is clear why IBA is not issuing Pension option letter for retirees.There is no adequate funds available.Please note the Madras Court Stay is only for 2.8 deduction from arrears of the existing employees.So the IBA filed an affidavit to vacate the stay. If the funds are adequate , then only they can issue option letters to retirees
@S.Patnaik August 3, 2010 8:50 PM:
Regulation 29 of Bank Employees’ Pension Regulations 1995, wherein it is clearly mentioned that the employees who seek voluntary retirement from service of the Bank after completing 20 years of qualifying service, are eligible for pensionary benefits.--G.D.NADAF.
Thanks.
All are talking about the case at Madras High court only. Reports of cases filed at various High courts were published sometime back.Fate of those cases are not known... Even if IBA succeeds in getting the stay vacated what about other cases.. Would any one clarify if option letters would be issued immediately upon vacation of stay at Madras High Court if and when that happens... The dark tunnel seems to be getting longer and longer with all hoping to see light at the end of the tunnel. Vasudevan
hi dear all, this post may not be required any more and this need not be posted by the PAY COMMISSION
any more.
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