SBI–Anomalies in pension:


Pension issue as a whole is so grotesque that it confuses the concerned people a lot on two counts: (1) The guidelines issued by the IBA (Indian Banks Association) and the individual Banks concerned including mainly State Bank of India are too misleading to draw a plain conclusion and (2) The orders passed by different courts on the issue are at times conflicting with each other disabling their interpretation on a cogent note thereby causing a hindrance in their proper implementation. With a view to getting abreast with a positive view making process, K.R. Saini, a versatile veteran on pension issues, made two most important comments on this blog, which I am reproducing in toto for the benefit of the readers, particularly the retiree pensioners who, I am sure, may be able to derive tremendous utility angle from the two comments so reproduced below:

  • DEAR SHRI NEELKANTH JI,IN THIS WRITE UP I AM WRITING TWO MAJOR DEVELOPMENTS FOR INFORMATION OF SBI PENSIONERS.FIRSTLY MADRAS HIGH COURT DECISION ON 100% D,.A NEUTRALISATION TO PER NOVEMBER 2002 RETIREES —– MADRAS HIGH COURT HAS RECENTLY DELIVERED JUDGEMENT ON THE ISSUE OF 100% D.A NEUTRALISATION TO PRE NOVEMBER 2002 RETIREES ALLOWING THE WERIT PETITIONS FILED BY 81 BANK RETIREES OF 3 BANKS NAMELY CANARA BANK,BANK OF BARODA ,INDIAN OVERSEE BANK ASKING BANKS TO EXTEND BENEFIT OF HIGHER D.A RATES TO THE PETITIONERS AS PER 8TH BIPARTITE AGREEMENT/JOINT NOTE.SECONDLY CENTRAL BOARD OF RESERVE BANK OF INDIA IN THE MEETING DATED 05-07-2012 APPROVED CERTAIN AMENDMENTS TO ITS PENSION REGULATION.THE RBI HAS, ON 12-12-2012 FORWARDED THE AMENDMENTS FOR PUBLICATION IN CENTRAL GAZETTE.THE AMENDMENTS WILL COME INTO FORCE FROM THE DATE OF PUBLICATION IN THE GAZETTE.THE SALIENT FEATURES INCLUDE A) UPWARD REDUCTION OF MINIMUM PENSION. B)REDUCING FULL SERVICE FROM 33 YEARS TO 20 YEARS C)UPWARD REVISION OF MINIMUM AND MAXIMUM FAMILY PENSION D)AND UPWARD REVISION OF FAMILY PENSION AT THE RATE OF 30% OF PAY UNIFORM INSTEAD OF 15% OF PAY. BESIDE THIS 100% D.A NEUTRALISATION HAS ALREADY BEEN GRANTED TO ITS ALL PENSIONERS OF RBI WITH EFFECT FROM 01-02-2005. I AM OF THE VIEW THAT SIMILAR TYPE OF AMENDMENDMENTS TO OUR SBI EMPLOYEES” PENSION FUND RULES ARE ALSO REQUIRD.THANKS. K.R SAINI
  • DEAR SHRI NEELKANTH JI,IN CONTINUATION OF MY WRITE UP DATED23-12-2012 NOW I AM WRITING SOME OF THWE OBSERVATIONS MADE BY THE JUDGE OF MADRAS HIGH COURT———–”CLASSIFICATION PENSIONERS ON THE BASIS OF ARTIFICIAL CUT-OFF DATE IS NOT ANY RATIONAL PRINCIPLE..BY RESTRICTING THE BENEFITS,BANKS HAVE CREATED A CLASS WITHIN THE CLASS.INFLATION AND PRICE-RISE ARE COMMON TO ALL.I DO SEE THAT PETIONERS HAVE BEEN SUBJECTED TO DISCRIMINATORY AND HOSTILE TREATMENT. THE PETITIONERS ARE ELIGIBLE FOR THE BENEFIT OF THE 8TH BIPARTITE SETTLEMENT/JOINT NOTE..THE IMPUGED WAS IN THE ATURE OF PROCEDURAL AMENDMENT AS SUCH,THE PETIONERS ARE ALSO ENTITLED THE BENEFIT OF NEW FORMULA OF COMPUTATION.” I AM OF THE VIEW THAT THE END DIRECTIONS OF THE JUDGE IS CRYSTAL CLEAR THAT 8TH BIPARTITE SETTLLEMENT/JOINT NOTE TO BE EXTENDED TO ALL THOSE WHO RETIRED BEFORE 01-11-2002.MOREOVER THERE IS NO CHANGE IN CONSUMER PRICE INDEX.NEELKANTH JI YOU CAN REPRODUCE MY WRITE UP FOR THE READERS.THANKS. K.R SAINI

 

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14 thoughts on “SBI–Anomalies in pension:”

  1. DEAR SHRI NEELKANTH JI,FIRST OF ALL ACCEPT MY CONGRATULATIONS ON PUBLISHING NEW POST.FOR THE PRESENT I AM OF THE VIEW THAT IF TWO MAJOR ANOMALIES ARE RECTIFIED A)50% OF LAST AVERAGE PAY OFTHE LAST TWELVE MONTHS AS BASIC PENSION B)100% D.A NEUTRALISATION TO ALL PENSIONERS. THEN ALL THE PENSIONERS WILL GET MORE THAN RS20000/ PENSION AS PENSION(ESTIMATE) PER MONTH. K.R SAINI

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  2. I am retiree from Bank of India now aged 65 years with many sickness encircled.
    I trust that MHC verdict will be implemented sooner than later so that retirees like
    me on the verge of extinction from this world may taste the sweetness of their hard
    earned pension. Please pursue the authorities for speedy implementation.

    H.r.k.Prasad.

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  3. Dear Sri.Neelkanth: Reg payment of pension on 100%Da Neutralisation
    as already informed on several blogs, an estimated
    1 lakh have retired prior to Nov 2002. This 1 lakh retirees
    are spread over 25 banks and the cost of payment of
    arrears of Da neutralisation per bank will be somewhere
    125/150 crores which is only a peanut for all banks.
    Further these days banks are making thousands of
    crores as profit and ultimately transferred to Govt.
    Keeping in view the hardwork/service these retirees
    have put to the banks enabling them to reach this height
    they should pay the arrears and enhanced pension
    to the aged retirees immediately. By filing cases in the
    court will not only consumes time and delay the payment
    the authorities should realise that they are making
    wasteful attempts in fighting this case when the
    highest judiciery the supreme court has given its verdict
    in favour of pensioners. I only trust that IBA/GOI and
    other related agencies will have wiser counsel and drop
    the idea of going to court and will order banks to
    disburse arrears and start paying pension after merging
    100% Da.

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  4. My dear Neelkanth ji Namaskar. A while back I was reading your profile and am quite impressed. I have also served 21 and half years in SBI and retired on 31st Mar, 2001 when VRS was implemented. We have been hearing now and then of our case being pursued in different courts and then all the cases having been clubbed and put up in the Appex for final hearing. But the outcome of that final hearing has never surfaced. Would you be kind enough to update me before I go to Australia to stay with my younger daughter who is a psychologist and employed there. With kind regards- Gurdial Singh. My e-mail address is :gurdialgill04@gmail.com My permanent place of residence is Dehra Dun and our secretary of Dehra Dun SBI pensioners Associartion is Sh. Awtar Krishan

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    1. Many a thanks for what and how nicely you have given your reaction to the writeup.The matter is being actively pursued and you are advised to watch the developments whenever it is there through NEWSPAGE on this blog.You are welcome to contact me even from Australia. All the best.

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