Pension issues in SBI–Background clippings: {Part 4}


In continuation:

KESHAV RAI SAINI on June 26, 2014 at 4:29 am said:Edit

7TH BIPARTITE ISSUE
ALL THE 7TH BIPARTITE RETIREES ARE GENUINLYY DISTURBED THAT THE ISSUE OF PENSIONERS RETIRED BETWEEN 1997-2002(BETWEEN 1.11 1997 WORKMEN STAFF,1.4.1998 OFFICERS TO31.10.2002.) HAS NOT YET BEEN SETTLED.WHETHER THE VARIOUS HIGH COURTS CASES FILED WOULD GET THE DESIRED RESULTS.IN REALITY WE HAVE NO CONTROL OVER THE LEGAL REMEDY AS THE MINISTRY OF FINANCE AND THE BANK RESORTS TO GIMMICKS AT ALL STAGES.
ALL THE 7TH BIPARTITE RETIREES WERE DRAWING THEIR SALARY ON THE BASIS OF 7TH BIPARTITE PAY SCALES AT THE TIME OF THEIR RETIREMENT(S) BUT STILL ARE BEING PAID PENSION ON THEVBASIS OFB THE 6TH BIPARTITE PAY SCALES.THE GOVERNMENT HAS HOWEVER PERMITTED THE REVISION OF PENSION ON ACTUAL SALARY PAID AS PER THE SUBSEQUENT REVISIONS OF SALARY MADE EFFECT FROM 1.11.2002 TO 31.10.2007 AND FROM 1.11.2007 TO 31.10.2012 AS PER 8TH AND 9TH BIPARTITE SETTLEMENTS RESPECTIVELY ON THE BASIS OF 50%/40% FORMULA.
IN THIS CONNECTION,KINDLY NOTE THAT IN S.BI PENSION IS TO BE CALCULATED ON THE BASIS OF AVERAGE MONTHLY SUBSTANTIVE SALARY DRAWN DURING THE LAST 12 MONTHS PENSIONABLE SERVICE AND THIS HOLDS TRUE FOR ALL THE PENSIONERS OF VS.B.I FROM THE YEAR 1986 EXCEPT FOR THE 7TH BIPARTITE RETIREES WHEREVFOR THE PURPOSE OF CALCULATION OF PENSION,PAY SCALES VAS PER 6TH BIPARTITE SETTLEMENT ARE TAKEN INTO ACCOUNT BUT THEY WERE DRAWING SALARY IN THE SCALES OF 7TH BIPARTITE SETTLEMENT AT THE TIME OF THEIR RETIREMENT(S).
THERE COULD BE NO JUSTIFICATION FOR THE GOVERNMENT DENYING THE PAYMENT OF PENSION ON THE ACTUAL PAY PAID AS PER THE 7TH BIPARTITE PAY SCALES AND NOT APPROVING THE PROPOSALS SENT BY THE BANK TO THE GOVERNMENT FROM TIME TO TIME.” K.R SAINI

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10 thoughts on “Pension issues in SBI–Background clippings: {Part 4}”

  1. IN TERMS OF RULE 23(2) OF S.B.I EMPLOYEES PENSION FUND RULES,WITH EFFECT FROM 1.3.1999, THE BANK RETIREES OF THE PERIOD 1.11.1997 FOR WORKMEN STAFF AND 1.4.1998 FOR OFFICERS TO 31.10.2002(I.E 7TH BIPARTITE RETIREES) ARE DRAWING PENSION ON PRE-REVISED PAY SCALES I,E ON THE PAY SCALES OF 6TH BIPARTITE.ACCORDINGLY, PENSION IS COMPUTED AT 50% FOR SALARY UP TO RS 8500/,AND AT 40% FOR SALARY ABOVE RS 8500/,SUBJECT TO MINIMUM OF RS 4250/,AS PER THE AFORESAID PENSION COMPUTATION FORMULA,THE BASIC PENSION OF A RETIRED DEPUTY MANAGING DIRECTOR,THE HIGHEST OFFICER IN THE BANK,IS ONLY RS 5920/. K.R SAINI

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  2. RULE 23(1) OF S.B.I EMPLOYEES PENSION FUND RULES STIPULATES THAT PENSION SHOULD BE CALCULATED ON THE BASIS OF AVERAGE MONTHLY SUBSTANTIVE SALARY DRAWN DURING LAST TWELVE MONTHS’ PENSIONABLE SERVICE.IT IS PERTINENT TO MENTION HERE THAT IN INDUSTRY LEVEL 7TH BIPARTITE SETTLEMENT,PENSION WAS DETERMINED IN NATIONALIZED BANKS WITH ”PAY” DEFINED AS PAY APPLICABLE PRIOR TO 1.11.1997(IN THE CASE OF WORKMEN STAFF)AND PRIOR TO 1.4.1998(IN THE CASE OF OFFICERS).IN OTHER WORDS PENSION OF 7TH BIPARTITE RETIREES WERE CALCULATED ON THE BASIS OF PAY SCALES OF 6TH BIPARTITE.HOWEVER,THIS ARRANGEMENT HAD UNDERGONE CHANGE IN THE 8TH BIPARTITE SETTLEMENT IN THE INDUSTRY,AND PENSION OF RETIREES OF THE PERIOD 1.4.1998 TO 31.10.2002 WAS REFIXED W.E.F 1.5.2005 AS PER ”PAY” AS DEFINED IN CLAUSE (6)) OF 7TH BIPARTITE SETTLEMENT DATED THE 27TH MARCH 2000 AND NOTE UNDER CLAUSE (5) OF THE JOINT NOTE DATED 14.12.1999.THIS NEW DEFINITION OF ”PAY” CORRESPONDS TO D.A MERGER OF 1684 POINTS OF INDEX.OUR BANK(S.B.I) IN 2006 AFTER THE STRIKE IN S.BI IN APRIL 2006 HAD PROPOSED THE SAME ARRANGEMENT FOR PENSION FOR RETIREES BETWEEN 1.11.1997/1.4.1998 TO 31.10.2002(I.E 7TH BIPARTITE RETIREES) IN OUR PENSION SCHEME .IN OTHER WORDS REVISION OF PENSION OF 7TH BIPARTITE RETIREES W.E.F 1.5.2005 KEEPING WITH THE INDUSTRY LEVEL.OTHER BANKS ARE DRAWING PENSION ON THE BASIS OF 7TH BIPARTITE PAYVSCALES W.E.F 1.5.2005.BUT 7TH BIPARTITE RETIREES OF S.B.I ARE DRAWING PENSION ON THE BASIS OF 6TH BIPARTITE PAY SCALES.THUS THEY ARE SUFFERING. K.R SAINI

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  3. IN CASE GOVERNMENT ACCEPT THE PROPOSAL OF BANK ,THIS WILL ENABLE THE BANK TO BE IN LINE WITH RULE 23(1) OF S.B.I EMPLOYEES PENSION FUND RULES.THE ANOMALY WHICH IS UNIQUE TO 7TH BIPARTITE RETIREES WILL BE REMOVED.THESE RETIREES FIND DIFFICULT TO LIVE WITH THE MEAGRE AMOUNT OF PENSION THEY GET AT THIS STAGE WHEN THEY DO NOT HAVE ANY OTHER SOURCE OF INCOME AND MEDICAL EXPENSES ARE ON THE HIGHER SIDE.THE REVISION OF PENSION WILL COME AS A GOODWILL GESTURE ON THE PART OF GOVERNMENT OF INDIA AND WILL BE A FINANCIAL SUPPORT TO THEM.THIS WILL ALSO REMOVE THE HURT FEELING AMONG THESE RETIREES.A NUMBER OF COURT CASES ON THIS ISSUE ARE PENDING IN DIFFERENT PARTS OF THE COUNTRY IN WHICH GOVERNMENT OF INDIA AND BANK ARE THE RESPONDENTS.REVISION OF PENSION WILL LEAD TO WITHDRAWAL OF COURT CASES,WHICH WILL SAVE TIME AND MONEY,FOR GOVERNMENT OF INDIA,BANK AS WELL AS PENSIONERS.K.R SAINI

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  4. WE NEED TO EXPRESS OUR ANXIETY ON THE LACK OF CONCERN ON THE P-ART OF OUR BANK AND SERVING FEDERATIONS FOR NOT TAKING UP OUR PENSION ISSUES ADEQUATELY,APPROPRIATELY AND PERSISTENTLY WITH THE GOVERNMENT BY MAKING OUT A STRONG JUSTIFICATION FOR RESOLVING THEM WITHOUT FURTHER LOSS OF ANY TIME.THE OTHER BANKS HAVE RESOLVED 7TH BIPARTITE ISSUE IN THE 8TH BIPARTITE SETTLEMENT AND 7TH BIPARTITE RETIREES OF O THER BANKS ARE DRAWING THEIR PENSION ON THE BASIS OF PAY SCALES OF 7TH BIPARTITE WITH EFFECT FROM 1.5.2005.BUT PENSIONERS OF 7TH BIPARTITE OF STATE BANK ARE STILL SUFFERING FOR THE LAST 16 YEARS.OTHER BANKS HAVE ALSO RESOLVED THE LONG PENDING PENSION ISSUE OF PROVIDING ONE MORE OPTION TO THEIR EMPLOYEES IN THE 9TH BIPARTITE SETTLEMENT.THIS IS THE RIGHT OPPORTUNITY TO FIND DURABLE SOLUTIONS TO ALL OUR PENSION ISSUES.WE TRUST ALL CONCERNED WOULD DISPLAY SUFFICIENT WISDOM AND UTILIZE THEIR RICH EXPERIENCE IN FINDING JUST AND IMMEDIATE SOLUTIONS TO MOST OF OUR PENSION ISSUES. K.R SAINI

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  5. IN THIS CONNECTION,I REITERATE THAT IN STATE BANK OF INDIA THERE IS NO DIRECT RELATION BETWEEN WAGE REVISION AND REVISION IN PENSION.WHENEVER WAGE REVISION TAKES PLACE AFTER BIPARTITE SETTLEMENT,THE REVISION IN PENSION DOES NOT TAKE PLACE AUTOMATICALLY/IMMEDIATELY.AS PER 7TH BIPARTITE SETTLEMENT,THE NEW PAY SCALES WERE GRANTED TO THE EMPLOYEES.HOWEVER,FOR THE PURPOSE OF CALCULATION OF PENSION PAY SCALES AS PER 6TH BIPARTITE SETTLEMENT ARE TAKEN ON ACCOUNT AS NECESSARY SANCTIONS WERE NOT ACCORDED BY THE GOVERNMENT OF INDIA. K.R SAINI

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  6. IN THIS REGARD,I ADVISE THAT THE RETIRED EMPLOYEES OF STATE BANK OF INDIA ARE PAID PENSION AS PER THE PROVISIONS CONTAINED IN S.B.I EMPLOYEES PENSION FUND RULES.IN PURSUANCE OF CLAUSE(O) OF SUB SECTION 2 OF SECTION 50 OF THE STATE BANK OF INDIA ACT,1955(23 OF 1955)THE CENTRAL BOARD IN CONSULTATION WITH THE RESERVE BANK OF INDIA AND WITH SANCTION OF CENTRAL GOVERNMENT MAKE AMENDMENTS/MODIFICATIONS TO THE PROVISIONS/REGULATIONS OF S.B.I EMPLOYEES’PENSION FUND RULES.
    K.R SAINI

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  7. THE SETTLEMENT BETWEEN INDIAN BANKS ASSOCIATION AND UNIONS OF OTHER BANKS WOULD NOT APPLY TO S.B.I.IT WAS NOT A PARTY TO ANY SETTLEMENT SO FAR PENSION-RELATED MATTERS WERE CONCERNED .BUT IN THE CASE OF 7TH BIPARTITE RETIREES,STATE BANK HAS UNILATERAL IMPOSED PENSION TO THEIR 7TH BIPARTITE RETIREES ON THE BASIS OF 6TH BIPARTITE PAY SCALES,BECAUSE OTHER BANKS WERE ALSO 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 THEIR SALARY IN THE 7TH BIPARTITE PAY SCALES W.E.F 1.05.2005.HOWEVER,7TH BIPARTITE RETIREES S.B.I ARE SUFFERING AND HAS NOT SOLVED THIS ANOMALY .ALL THE 7TH BIPARTITE RETIREES ARE NOW ABOVE 70 YEARS OLD. K.R SAINI

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