Pension issues in State Bank of India–Submission to Prime Minister:



neelkanth@neelkanth

Prime Minister Ji, you are good enough to help every body. Kindly pay your attention also to plights of pensioners in State Bank of India.

The above twitter message is addressed to the Prime Minister of India. His is an office well equipped to procure the background reference from the relative channels including State Bank of India. If, however, so asked for, we shall ourselves be furnishing the relevant information to his office. Shri K.R. Saini is requested through this post to keep necessary brief ready for the purpose.

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9 thoughts on “Pension issues in State Bank of India–Submission to Prime Minister:”

  1. Respected Sir,
    Twitter message addressed to the Prime Minister of India by Shree K.R. Saini has been sent in a very appropriate time in a very relevant hands . We hope that the try of Shree K.R. Saini and your guidance will be benefited for the pensioners of State bank of India When our New and King of the heart of the Indian people, Prime minister will take decision on above subject.

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  2. ONE OF THE AGE-OLD TRADITIONS FOR WHICH INDIA,HAS BEEN KNOWN THE WORLD OVER IS RELATED TO THE VALUE WE ATTACH TO THE AGED AND OLD,THOSE WHO HAVE GIVEN NEW GENERATIONS SO MUCH TO BUILD ON AND ENJOY IN LIFE.THE CONCEPT OF PENSION FOR EMPLOYEES AFTER THEIR RETIREMENT FROM ACTIVE SERVICE CAN BE VIEWED AS A DERIVATIVE OF THIS TRADITION.
    AS APTLY OBSERVED BY THE SUPREME COURT OF INDIA WAY BACK IN 1982 AND THEREAFTER IN 1989 ,”PENSION IS NEITHER A BOUNTY NOR A MATTER OF GRACE DEPENDING UPON THE SWEET WILL OF BTHE EMPLOYER,NOR AN EX GRATIA PAYMENT.IT IS A PAYMENT FOR THE PAST SERVICE RENDERED.IT IS A SOCIAL WELFARE MEASURE RENDERING SOCIO-ECONOMIC JUSTICE TO THOSE WHO IN THE HEY-HEY OF THEIR LIFE CEASELESSLY TOILED FOR THE EMPLOYER ON AN ASSURANCE THAT IN THEIR OLD AGE THEY WOULD NOT BE LEFT IN THE LURCH.”
    BUT WHAT ABOUT THE POLICY OF THE GOVERNMENT IN REGARD TO THE PENSIONERS OF STATE BANK OF INDIA?IT HARDLY REFLECTS AN ENLIGHTENED DEFINITION OF THE PENSION SCHEME.THERE IS NO SOCIO- ECONOMIC JUSTICE BUT HUMILIATION ALL THE WAY FOR THOSE WHO ONCE CEASELESSLY TOILED AND GAVE THEIR BEST TO THE SYSTEM..
    ONE OF THE ESTABLISHED RULES OF THE BANKS AND IN ANY GOVERNMENT DEPARTMENT IS THAT EVERYONE SHOULD BE GETTING PENSION EQUIVALENT TO 50% OF HIS OR HER LAST DRAWN SALARY .BUT IN TATE BANK OF INDIA THERE ARE DIFFERENT SCALES FOR DIFFERENT GROUPS OF RETIREES.THOSE WHO RETIRED BETWEEN NOVEMBER I.,1987 AND OCTOBER 31 ,1992 GET 28.71% OF THE LAST SALARY AS PENSION,BETWEEN NOVEMBER 1,1992 AND OCTOBER 1997,40% AS PENSION,NOVEMBER 1,1997 AND OCTOBER 31,2002 LESS THAN 28% OF THE LAST DRAWN SALARY AS PENSION,NOVEMBER 1,2002 TO 31.10.2007(UP TO SALARY OF RS 21040/ AND 40% OVER THE ABOVE SALARY).NOVEMBER 1,2007 ON WARDS 50% UP TO RS 31500 AND 40% OVER THE ABOVE SALARY.IN THE PROCESS THE SITUATION TODAY IS SO IRONICALTHAT THE FORMER CHAIRMAN OF THE BANK,WHO RETIRED IN 1997,IS TODAY GETTING PENSION LESS THAN A RECENTLY RETIRED CLERK OF THE SAME ORGANIZATION(STATE BANK).
    IN STATE BANK OF INDIA MAXIMUM FAMILY PENSION IS 15% OF THE LAST SALARY DRAWN WHEREAS NOW FAMILY PENSION IN RBI @ 30 % OF THE LAST SALARY DRAWN THUS FAMILY PENSION IN THE STATE BANK OF INDIA SHOULD ALSO BE 30%.OF THE LAST DRAWN PAY.
    IN STATE BANK OF INDIA BENEFIT OF 100% D.A NEUTRALIZATION EFFECTIVE 1.05.2005 HAS NOT BEEN EXTENDED TO PRE 1.11.2002 RETIREES .BUT THIS D.A BENEFIT HAS BEEN EXTENDED TO R.BI EMPLOYEES W.E F 1.02.2005.
    THERE IS SOMETHING TERRIBLE WRONG INDEED WITH THE EXISTING POLICY ON THE STATE BANK PENSION,THE FEDERATION OF SBI PENSIONERS,ALONG WITH ITS ALL 14 AFFILIATES,HAS BEEN RUNNING FROM PILLAR TO POST FOR THE LAST 25 YEARS TO SET THE MATTER RIGHT.

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  3. IN NUTSHELL THE FOLLOWING ARE THE PENSION ISSUES IN STATE BANK OF INDIA.
    (1)STATE BANK TO FOLLOW THE ESTABLISHED OF NORM OF PENSION BEING 50% OF THE SALARY LEVEL OF THE RETIRED EMPLOYEES.AT THE TIME OF RETIREMENT.
    (2)30%THEREOF AS FAMILY PENSION FOR ALL PENSIONERS.(3)100% D.A NEUTRALIZATION TO PRE 1.11.2002 RETIREES W.E.F 1.05.2005..
    (4)UPDATION OF PENSION ON EACH REVISION OF PAY SCALES OF SERVING EMPLOYEES..
    (5)IMPLEMENT THE VERDICTS OF DIFFERENT HIGH COURTS IN FAVOUR OF S.BI PENSIONERS E.G MADRAS HIGH COURT VERDICT DECLARED IN 2008,KERALA HIGH COURT VERDICT DECLARED IN 2010 AND CALCUTTA HIGH COURT VERDICT IN 2012 .ALL DECISIONS IN FAVOUR OF 7TH BIPARTITE RETIREES, BUT THE BANK/GOVERNMENT DID NOT IMPLEMENTED THE JUDGEMENTS BY THREE DIFFERENT SINGLE JUDGE VERDICTS.OF THREE HIGH COURTS.

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  4. DENIAL OF LEGITIMATE PENSION TO THE PENSIONERS OF STATE BANK OF INDIA RETIRED AFTER 31.10/1987.
    We seek your kind help and intervention for securing the rightful pension benefits to the pensioners of State Bank of India,retired after 31.10.1987 and place here under,the details of our pension issues for your kind and just consideration.
    (1)We wish to submit the pension scheme of State Bank of India provides for payment of pension to its employees at 50% of the monthly average salary for ba minimum pensionable service of 30 years,in terms of S..B..I Employees Pension Fund Rule 23(1).due to the directions issued by Government in 2000,basic pension was introduced on the basis of 50%/40% formula with effect from 1.03.1999..As a result of this formula,,at present,about 80% of the pensioners retired in the cadres of workmen and officers in Scale 1 are paid their pension subject to 50% of their salary .The pensioners in Scale 2 and above are paid their pension at 40% of their pay. We only seek payment of pension to all pensioners at 50% of salary prevailing at the time of retirement to all eligible pensioners with a minimum pensionable service of 30 years.
    (2)Further all those retired drawing revised salary as per the 7th Bipartite Pay Scales are not being paid their rightful pension computed on their actual salary as on the date of their retirement but still are being paid considerably reduced pension computed (about 28% of the last drawn pay) on the basis of the pre revised Sixth Bipartite Pay Scales.We want payment of legitimate pension entitled on the basis of actual salary paid to the pensioners as per salary scales prevailing at the time of retirement.
    (3) at present family pension is being paid to family pensioners on the basis of 15% of the last drawn pay of the pensioners,we want family pension @ 30% of the last pay drawn of the pensioners as in the case of R.B .I employees..
    (4)we want 100% D…A neutralization to pre 1.11.2002 retirees with effect from 1.05.2005 as in the case of R.B.I employees.

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