Pension issues in SBI–Background clippings: {Part 2}


In continuation of Part 1 published on 21/05/2014:


THE FATE OF PENSIONERS/FAMILY PENSIONERS IN THE BANKING INDUSTRY ESPECIALLY IN THE STATE BANK OF INDIA IS MUCH WORSE.IN STATE BANK OF INDIA ,ALTHOUGH 5TH AND 7TH BIPARTITE RETIREES WERE GETTING SALARY ON THE PAY SCALES OF 5TH AND 7TH BIPARTITE SETTLEMENTS RESPECTIVELY AT THE TIME OF THEIR RETIREMENT(S).BUT IN THEIR CASE THE BASIC PENSION HAS NOT BEEN REVISED UP TO NOW..NOW THESE RETIREES ARE ABOVE 80 YEARS OLD,IN CASE OF 5TH BIPARTITE RETIREES AND ABOVE 70 YEARS OLD IN CASE OF 7TH BIPARTITE RETIREES AND THEY ARE SUFFERING FOR THE LAST 20 YEARS AND 16 YEARS RESPECTIVELY.DUE TO NON REVISION OF THEIR PENSION.
AS ALL OF YOU ARE AWARE THAT INCREASE IN N.P.As IS DUE TO WRONG POLICY OF THE GOVERNMENT AS THE AVIATION,REAL ESTATE,POWER,COAL,AND OTHER INFRASTRUCTURE SECTORS HAVE COLLAPSED DUE TO WIDE SPREAD CORRUPTION IN EVERY SECTOR.THE GOVERNMENT DOES NOT DARE ACTION AGAINST THE BIG BUSINESS HOUSES,WHO CONTINUE TO LIVE LAVISHLY..
RESULTANTLY ,THE WAGES OFFERED TO THE STAFF ARE THE LOWEST IN SERVICE SECTOR,WHICH WILL DEMOTIVATE THEM TO A LARGE EXTENT.
LET US THE WORKING STAFF ORGANISATIONS WOULD SUCCEED IN GETTING SUBSTANTIAL BENEFIT FOR THEIR MEMBERS,AS ALSO PROVIDE SOME RELIEF TO THE EVER SUFFERING SECTION OF PENSIONERS/FAMILY PENSIONERS WHICH LOOKS TO BE DREAM.THE OUTGOING GOVERNMENT WAS NOT ALL SYMPATHETIC TO THE CAUSE OF THE BANKING INDUSTRY THOUGH THE DIVIDEND AMOUNT BEING PAID BY BANKS KEEPS ON INCREASING.THE OUTGOING GOVERNMENT DOES NOT SEEM TO BE A FAIR EMPLOYER.LET US HOPE FOR A NEW DAWN FOR THE BANKING INDUSTRY FROM A NEW GOVERNMENT
. K.R SAINI –20/05/2014

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12 thoughts on “Pension issues in SBI–Background clippings: {Part 2}”

  1. My sincere thnks to sh K .R..Saini for this write up and also my thnks to Sh Neelkanthji for his love and effection for the State Bank Pensioners. Sir, you have rightly defined the correc picture of State Bank Of India pensioners specially the 7th bipartite pensioners.The U.P.A. Govt controlled by the Finance -minister Sh Chidarama was not in favor of bank pensioners .now there is a hope for the justice. “Asha Din Ana Wale Hai. Mr. Modi is a deep thinker of the problem and sets the solution of the problem in his mind and at the appropriate time gives the remidy of the problem . I hope if the things are put in right way before him ,he will solve the issue. thanks.

    Rajkumarnegi

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  2. SHRI NEGI AND MY OTHER FRIENDS,I HAVE ALREADY DISCUSSED THE ISSUE OF 7TH BIPARTITE RETIREES IN MY NOTE DATED 21.05.2014 TITLED AS ”PENSION ISSUE IN S.B.I – CLIPPING PART(1)”IN CASE SOME OF THE 7TH BIPARTITE RETIREES HAVE NOT GONE THROUGH THAT NOTE I REQUEST THEM TO READ MY PART (1) AGAIN.IN THIS NOTE PART (2) I WILL TRY TO DISCUSS PENSION SCHEME IN BANKING INDUSTRY AS WELL AS IN STATE BANK OF INDIA.ALL THE PENSIONERS SHOULD READ MY COMMENTS ON THIS NOTE .K.R SAINI

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  3. THE MAIN REASONS FOR THE PLIGHT OF PENSIONERS /FAMILY PENSIONERS IN THE BANKING INDUSTRY IS NOT SO GOOD BECAUSE THERE IS NO UPDATION OF PENSION IN THE BANKING INDUSTRY.HOWEVER,IN THE CASE OF CENTRAL GOVERNMENT EMPLOYEES,THE FIFTH PAY COMMISSION PROVIDED FOR MUCH NEEDED RELIEF TO THE PENSIONERS BY THE UPWARD REVISION OF PENSION OF ALL THE PAST PENSIONERS ON THE BASIS OF REVISED SALARY SCALES..THE SIXTH PAY COMMISSION PAVED WAY FOR THE SUBSTANTIAL INCREASE IN PAY AND PENSION OF THE EMPLOYEES OF THE GOVERNMENT BY PROVIDING THE MUCH NEEDED RELIEF TO PENSIONERS AGED 80 AND ABOVE INCREASING THE QUANTUM OF THEIR PENSION.AS THE ABOVE BENEFITS ARE NOT AVAILABLE TO THE EMPLOYEES IN THE BANKING INDUSTRY INCLUDING S.B.I AT PRESENT FAMILY PENSION IS BEING PAID@ 15% OF THE LAST DRAWN PAY IN THE BANKING INDUSTRY WHEREAS FAMILY PENSION IS @ 30%OF THE LAST DRAWN PAY IN R.B.I. ALL PENSIONERS WHO RETIRED BEFORE 1.11.2002 ARE NOT GETTING 100%D.A NEUTRALIZATION ON BASIC PENSION IN THE BANKING INDUSTRY ,BUT THESE PENSIONERS IN R.B.I ARE GETTING 100%D.A NEUTRALIZATION W.E.F 1.02.2005.K.R SAINI

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  4. IN STATE BANK OF INDIA FATE OF OLD PENSIONERS IS WORSE DUE TO THE FOLLOWING REASONS.DIFFERENT FORMULA FOR CALCULATION OF PENSION FOR DIFFERENT SET OF PENSIONERS FROM TIME TO TIME.AS I HAVE MENTIONED IN THIS NOTE THAT THE 5TH AND 7TH BIPARTITE RETIREES PENSION HAS NOT BEEN REVISED ON THE BASIS OF THEIR PAY AT THE TIME OF THEIR RETIREMENT(S) AND THEY ARE GETTING PENSION@28% OF THE PAY AT THE TIME OF THEIR RETIREMENT.FURTHER ,IN STATE BANK OF INDIA FORMULA FOR CALCULATION OF PENSION IS 50%/40% WITH EFFECT FROM 1.03.1999 WHEREAS IN OTHER BANKS CALCULATION OF PENSION WITH ONE FORMULA @50% OF THE AVERAGE PAY OF LAST TEN MONTHS PAY W.E.F 1.11.1993.IN STATE BANK OF INDIA THERE WAS ALSO ONE FORMULA FOR CALCULATION OF PENSION.,ACCORDING TO RULE 23(1) OF THE STATE BANK OF INDIA EMPLOYEES PENSION FUND RULES.IN 2010 KERALA HIGH COURT GAVE VERDICT IN FAVOUR OF ALL THE PENSIONERS OF S.B.I ON THE BASIS OF THIS FORMULA 23(1).BUT THE BANK AND GOVERNMENT DID NOT IMPLEMENTED THE JUDGEMENT BY A SINGLE JUDGE., SO MUCH SO NO HEARING IS COMING UP DURING THE LAST FOUR YEARS.SUPREME COURT JUDGEMENT DATED 23.02.1989 HAD ALSO DECIDED ONE FORMULA THAT IS 50% MAXIMUM RS 2400/ AS PENSION REMOVED THE DISCRIMINATION OF CEILING OF RS 750/ AND RS 1000/.BANK PROPOSED DURING THE HEARING PENSION CEILING AS RS 1300/ FOR AWARD STAFF AND RS 2400/ FOR OFFICERS.HOWEVER,SUPREME COURT DID NOT ACCEPT THE PROPOSAL OF THE BANK AND GAVE VERDICT WITH ONE CEILING OF 50% MAXIMUM RS 2400/.SUBSEQUENTLY WHEN SALARY REVISIONS OF VARIOUS BI-PARTITES TOOK PLACE,BANK AND GOVERNMENT SHOULD HAVE BEEN KEPT IN MIND THE VERDICT OF SUPREME COURT.BUT GOVERNMENT DID NOT FOLLOWING THE PRINCIPLE OF SUPREME COURT AT ALL.OUR PENSIONERS FEDERATION IS FIGHTING IN THE DELHI HIGH COURT FOR 50% AS PENSION TON TOALL PENSIONERS WITH EFFECT FROM 1.11.1987 OR FROM THE DATE (s) OF RETIREMENT(s) WHICHEVER LATER. THE NEXT DATE OF HEARING IS 25.09.2014.K.R SAINI

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  5. THE AGGREGATE N.P.A OF BIG INDUSTRIAL HOUSES IS MORE THAN RS 40000.00 CRORES WHO IS RESPONSIBLE FOR THIS IF THE FOUR DEFAULTERS OF THE COUNTRY.
    (1)KINGFISHER AIRLINES =RS 2673 CRORES
    (2)WINSOM DIAMOND & JEWELLERY CO LTD=RS 2660 CRORES

    (3)ELECTROTHERM INDIA LIMTED =RS 2211 CRORES
    (4)ZOOM DEVELOPERS P LTD =RS 1810 CRORES
    AMOUNTING RS 9354 CRORES WOULD ALSO SUFFICE THE MINIMUM DEMAND OF THE ENTIRE BANKING WORKFORCE.THYE EMPLOYEES AND THE PENSIONERS ARE DEMANDING A REASONABLE AND FAIR INCREASE INB PAY AND PENSION.K.R SAINI

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  6. THE ROLE PLAYED BY THE OUTGOING FINANCE MINISTER AND ITS FINANCE MINISTRY IN MANAGING AND CONTROLLING ALL THE PUBLIC SECTOR BANKS DOES NOT LEND ANY CREDIT TO THE OUTGOING GOVERNMENT AS THEIR OWNER.THE I.B.A GETS DICTATED BY THE LIMITS SET BY THE FINANCE MINISTRY ON THE TIME OF EVERY BIPARTITE SETTLEMENT HAVE CREATED MUCH DISPARITIES BETWEEN THE PAY SCALES AND PENSION OF THE GOVERNMENT EMPLOYEES AND THE BANK EMPLOYEES AFTER THE IMPLEMENTATION OF 6TH PAY COMMISSION.
    LET US HOPE SOME FAVOURABLE SETTLEMENT FOR PENSIONERS IN THE 10TH BIPARTITE SETTLEMENT WHICH WILL TAKE PLACE IN THE ERA OF NEW GOVERNMENT.K.R SAINI

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  7. IN STATE BANK OF INDIA,THOSE WHO RETIRED UNDER 4TH AND 5TH BIPARTITE SETTLEMENTS ( FROM 1.1.1986 TO 31.10.1993)THEY WERE IN RECEIPT OF VERY LOW BASIC PAY AND AS SUCH WERE SANCTIONED MEAGRE PENSION OF RS 2400/ BEING THE MAXIMUM.ALL THESE RETIREES ARE ABOVE 80 YEARS OLD..SIMILARLY 6TH AND 7TH BIPARTITE RETIREES WERE SANCTIONED MAXIMUM BASIC PENSION OF RS 5920/ WITH EFFECT FROM 1.03.1999 ON THE BASIS OF 50%/40% FORMULA.,ALL THESE RETIREES ARE NOW ABOVE 70 YEARS OLD..THIS PENSION FOR 7TH BIPARTITE RETIREES HAS NEVER BEEN REVISED SINCE THEN,THE DEARNESS ALLOWANCE NEUTRALIZATION MUCH LESS AS BEING ACCOUNTED FOR THOSE RETIRED W.E.F 1.11.2002.LOWER PENSION,LESSER DEARNESS ALLOWANCE DOES NOT PERMIT THE PENSIONERS/FAMILY PENSIONERS WHO ARE SURVIVING A RESPECTABLE LIVING.THE BANK AND THE BABUS IN THE MINISTRY OF FINANCE MUST INTROSPECT AND PROVIDE A RELIEF TO ALL THOSE AT THE FAG END OF THEIR LIFE SO THAT THEY LIVE WITH COMFORT FROM THE SOCIALISTIC DEMOCRACY.THEY MUST NOT BE ALLOWED TO SUFFER IN THEIR OLD AGE WHEN THEIR EMPLOYER IS IN COMFORTABLE FINANCIAL POSITION TO TAKE CARE OF THEIR FINANCIAL NEEDS AND IN A POSITION FOR PROVIDING REQUIRED RELIEF TO THEM.BUT WILL ANYBODY LISTEN AND PONDER OVER IT. K.R SAINI

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  8. ANY SETTLEMENT REGARDING PENSION ISSUES IN ANY BIPARTITE SETTLEMENT BETWEEN I.B.A AND U.F.BU WOULD NOT APPLY TO S.B.I EMPLOYEES.BECAUSE STATE BANK OF INDIA WAS NOT PARTY TO ANY SETTLEMENT IN SO FAR AS PENSION RELATED MATTERS CONCERNED.BUT IN THE CASE OF 7TH BIPARTITE RETIREES STATE BANK OF INDIA/GOVERNMENT HAS UNILATRAL IMPOSED PENSION TO THESE RETIREES ON THE BASIS OF 6TH BIPARTITE PAY SCALES BECAUSE OTHER BANKS WERE DRAWING PENSION ON THE BASIS OF 6TH BIPARTITE PAY SCALES.HOWEVER OTHER BANKS HAVE RESOLVED THIS ISSUE IN THE 8TH BIPARTITE SETTLEMENT AND 7TH BIPARTITE RETIREES OF OTHER BANKS ARE NOW DRAWING PENSION ON THE BASIS OF 7TH BIPARTITE PAY SCALES W.E.F 1.05.2005.HOWEVER 7TH BIPARTITE RETIREES OF S.B.I ARE SUFFERING AND HAS NOT RESOLVED THIS ISSUE.ANOMALY YET.IN THE MEANTIME NOW ALL THE 7TH BIPARTITE RETIREES IN SBI ARE ABOVE 70 YEARS OLD. K.R SAINI

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