Pension issues in SBI–Updation:



Given below is a note provided by KR Saini as a meaningful comment on certain salient features relating to pension issues in SBI. Thanks to him as from all the retiree pensioners. The clarifications so made by him are of utmost importance capable of enunciating the pertinent issues quite in a proper perspective. This is for the readers, mainly the retirees, and also the other channels harnessed to the task of negotiations with the Bank and the Government to draw necessary benefits out of them.

KESHAV RAI SAINI
Sep 01, 2014 @ 13:48:14 Edit

PENSION UPDATION OF PAST RETIREES .
WHAT IS PENSION UPDATION?.

AS YOU ARE AWARE THAT U.F.B.U HAS IDENTIFIED THREE MAJOR PENSION RELATED ISSUES FOR RESOLUTION IN THE 10TH BIPARTITE SETTLEMENT.THEY ARE –

  • (a) UNIFORM D.A TO ALL PENSIONERS
  • (b) IMPROVEMENT OF FAMILY PENSION ON THE LINES OF R.B.I.
  • (c) UPDATION OF BASIC PENSION.
    ON THE BASIS OF COMMUNICATION ISSUED BY U.F.B.U

AFTER MEETING AN OVERALL FEEDBACK RECEIVED,I.B.A IS NOW READY TO CONSIDER 100% D.A NEUTRALIZATION TO PRE 2002 RETIREES AND IMPROVEMENT OF FAMILY PENSION ON PRIORITY BASIS AND WILL ALSO EXAMINE DEMAND OF PENSION UPDATION FOR PAST RETIREES KEEPING IN MIND THE COST FACTOR. I GIVE BELOW SOME VITAL POINTS/FACTS RELATED TO PENSION.
WHAT IS PENSION UPDATION.
THERE ARE THREE COMPONENTS IN PENSION SCHEME APPLICABLE TO BANK RETIREES (a)BASIC PENSION (b)DEARNESS ALLOWANCE (c)ONE-TIME PAYMENT OF COMMUTATION ON OPTIONAL BASIS .
UPDATION EXERCISE IS RELATED TO COMPONENT NO (a) I.E BASIC PENSION. IT IS UNIVERSAL PRACTICE THAT WHILE REVIEWING PAY AND ALLOWANCES OF THE EMPLOYEES THE FIRST AND FOREMOST EXCERCISE CARRIED OUT IS RE-SETTING OF THE BASIC PAY ACCORDING TO THE MOVEMENT OF INFLATION IN THE INTERVENING PERIOD,BUSINESS GROWTH OF THE EMPLOYER AND GENERAL ECONOMIC ENVIRONMENT OF THE COUNTRY.
THE SIMILAR EXCERCISE NEED TO BE CARRIED OUT PERIODICALLY IN THE CASE OF PENSIONERS TOO AS PENSION IS NOTHING BUT DEFERRED SALARY PAYABLE AFTER THE RETIREMENT. THE BASIC PENSION NEEDS TO BE RE-SET IN TUNE WITH INCREASE GIVEN TO THE EMPLOYEES IN THEIR BASIC PAY IN THE WAGE SETTLEMENT.
GOVERNMENT OF INDIA HAS BEEN DOING EXCERCISE OF UPDATION OF BASIC PENSION FOR ITS PAST RETIREES IN EACH PAY COMMISSION SINCE 5TH PAY COMMISSION(W.E.F 1.1.1996) IN VIEW OF THE HISTORICAL DECISION OF THE CONSTITUTIONAL BENCH OF THE SUPREME COURTR IN THE FAMOUS CASE OF NAKARA V/S UNION OF INDIA. THE OTHER IMPORTANT POINT TO BE NOTED IS THAT WHENEVER WE TALK OF PENSION UPDATION IT NECESSARILY RELATES TO THE PAST RETIREES. AS FAR AS EMPLOYEES ARE CONCERNED THEIR BASIC PAY GETS AUTOMATICALLY UPDATED WITH EACH WAGE SETTLEMENT WITH EACH INCREASE ON BASIC PENSION.
PENSION UPDATION IS NOTHING BUT REALIGN THE BASIC PENSION OF THE PAST RETIREES WITH THE BASIC PENSION OF FUTURE RETIREES. IT SHOULD NOT HAPPEN THAT TWO MEMBERS OF PENSION FUNDS HOLDING SIMILAR POSITIONS IN THE ORGANIZATION ARE DISCRIMINATED IN FIXATION OF BASIC PENSION ON THE BASIS OF THEIR DATE OF BIRTH AND DATE OF RETIREMENT.”

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Author: neelkanth

Certainly not a celebrity but do have inquisitiveness to know things, realise them and live them to the extent possible. My interest in History, Art of Living and behavioural science is an element that inspires me.Am a poet,an author,a consultant, an advisor on computers and behavioural science.Served as Director in Central Board of State Bank of India.Remained associated with trade union activities and industrial relations as President,All India State Bank of India Staff Federation.Led a delegation on computers to several countries abroad number of times as from State Bank of India/ Banking Industry. Was twice accorded with NATIONAL AWARD FOR EXCELLENCE by All India Freelance Journalists Association, Chennai (India). My email address is: neelkanthshahi@gmail.com

49 thoughts on “Pension issues in SBI–Updation:”

  1. THE ABOVE NOTED PENSION ISSUES RELATE TO ALL THE BANKING INDUSTRY AND FINANCIAL SECTOR INCLUDING S.B.I.AS ALL OF YOU KNOW THE EXERCISE OF PENSION UPDATION HAS NOT BEEN CARRIED FOR THE LAST 28 YEARS SINCE 1986 DESPITE THE FACT THAT IT IS QUITE LONG TIME PERIOD.CONSUMER PRICE INDEX REPRESENTING INFLATION HAS INCREASED 10 TIMES,SALARIES OF THE EMPLOYEES HAS BEEN REVISED 5 TIMES,BANKS NET PROFIT HAVE GONE 10 TIMES,COUNTRY’S G.D.P HAS GONE UP 8 TIMES.THEREFORE THERE IS A VERY STRONG CASE FOR UPDATION OF PENSION OF PAST RETIREES. K.R SAINI

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  2. THE ABOVE NOTED SITUATION HAS CARRIED HUGE BACKLOG IN RESPECT OF PENSION UPDATION FOR THE PAST RETIREES IN THE BANKING INDUSTRY AS CAN BE SEEN FROM THE FOLLOWING DATA.
    1987-1992(5TH BIPARTITE W.E.F 1.11.1987 CPI MERGED PRESENT DIFFER
    600 POINTS CPI 5570 4970
    TO 31.10.1992)
    1992-1998 (6TH BIPARTITE) 1148 POINTS 5570 4422 1998-2002(7TH BIPARTITE) 1148 POINTS* 5570 4422
    * FOR S.B.I RETIREES BUT FOR OTHER BANKS 1684 POINTS
    2002-2007(8TH BIPARTITE) 2288 POINTS 5570 32 82
    2007-2012(9TH BIPARTITE) 2836 POINTS 5570 2734
    2012-2017(10TH BIPARTITE) 4040 POINTS 5570 1530
    FROM THE ABOVE DATA IT IS VERY MUCH CLEAR THAT BASIC PENSION TO 10TH BIPARTITE RETIREES WILL BE 6 TIMES OF THE RETIREES OF 5TH BIPARTITE RETIREES DUE TO NON UPDATION OF PENSION ON EACH BIPARTITE..K.R SAINI

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  3. THE ABOVE NOTED POSITION CAN BE FURTHER UNDERSTOOD FROM THE FOLLOWING.
    IN STATE BANK OF INDIA MAXIMUM BASIC PENSION TO 5TH BIPARTITE RETIREES IS RS 2400/ PER MONTH,6TH AND 7TH BIPARTITE RETIREES ARE GETTING MAXIMUM BASIC PENSION OF RS 5920/ PER MONTH,8TH BIPARTITE RETIREES ARE GETTING MAXIMUM BASIC PENSION RS 16000/ PER MONTH,FOR 9TH BIPARTITE RETIREES MAXIMUM BASIC PENSION IS RS 22000/PER MONTH.
    IT CAN BE SEEN FROM THE ABOVE STATICS THAT IN LAST 28 YEARS BASIC PENSION HAS GONE UP BY 6 TIMES AND GAP WILL FURTHER INCREASE UNLESS UPDATE EXCERCISE IS CARRIED OUT FOR THE PAST RETIREES BEFORE THE CONCLUSION OF 10TH BIPARTITE SETTLEMENT. K..R.SAINI

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  4. IT BECOMES HIGHLY DEPRESSING AND FRUSTRATING FOR THE PAST RETIREES PARTICULARLY IN S.B.I BECAUSE IN THEIR CASE THE REVISION OF PENSION FOR THE 5TH AND 7TH BIPARTITE RETIREES HAS NOT BEEN TAKEN PLACE WHILE REVISION OF PAY SCALES HAVE BEEN TAKEN PLACE AT THE MATERIAL TIME.AS A RESULT OF THIS ALMOST ALL PRE 2002 RETIREES ARE GETTING PENSION LESS THAN RS 20000/ PER MONTH (INCLUDING D.A)IN THIS PERIOD OF HIGH INFLATION.MOREOVER THESE RETIREES ARE ABOVE 70 YEARS TO 87 YEARS OLD AND REQUIRE MEDICAL AID..WHILE THEIR BASIC PENSION REMAINS STAGNANT WITHOUT ANY REVIEW(REVISION),BASIC PENSION OF FUTURE RETIREES GET AUTOMATICALLY UPDATED WITH EVERY REVISION.THEY HAVE BEEN,THEREFORE AGITATING ON THIS COUNT AND HAVE BEEN DEMANDING UPDATION OF BASIC PENSION IN THIS SETTLEMENT WITH CLEARANCE OF BACKLOG OF THE PAST SETTLEMENTS.HOWEVER,THERE IS QUALITATIVE CHANGE IN THE POSITION
    AFTER ONE MORE PENSION OPTION TO THE LEFTOVER IN OTHER BANKS UNDER 9TH BIPARTITE SETTLEMENT ANDTODAY MORE THAN 98 PERCENT RETIREES ARE PENSIONERS.K.R.SAINI

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  5. I AM HAPPY TO MENTION THAT TODAY THE OVERALL ENVIRONMENT TOWARDS PENSION UPDATION FOR PAST RETIREES IS FAVOURABLE AND POSITIVE IN VIEW OF THE FOLLOWING FACTS.
    1.) MORE THAN 98 PERCENT RETIREES ARE PENSIONERS AND NOW AGENDA FOR ALL CONCERNED IMPROVEMENT OF PENSION INCLUDING PENSION UPDATION OF PAST RETIREES..
    2)ALL RETIREES ORGANIZATIONS AS WELL AS ALL UNIONS UNDER THE BANNER OF U.F,B,U HAVE BEEN DEMANDING PENSION UPDATION.
    3)IT IS SEEN IT IS BEING DISCUSSED WITH ALL SERIOUSNESSLY WITH I.B.A AND U.F.B.U.
    4)R.B.I RETIREES FEDERATION WITH FULL SUPPORT OF THE UNIONS ARE AGITATING FOR PENSION UPDATION.I UNDERSTAND THAT R.B.I GOVERNOR HAS GIVEN ASSURANCE TO CARRY OUT PENSION UPDATION EXCERCISE IN NEAR FUTURE..
    5)L.I.C AND G.I.C RETIREES ARE ALSO DEMANDING PENSION BUPDATION INN THEIR ORGANIZATIONS ANDV ARE AGITATING FOR IT.L.I.C COMRADES ARE FIGHTING LEGAL BATTLE FOR PENSION UPDATION..
    6)U.F.B.U HAVE BEEN RELENTLESSLY TAKING UP THE MATTER WITH I.B.A AND GOVERNMENT LEVEL FOR SOLUTION IN THE ENSUING WAGESETTLEMENT.
    6)AIBRF HAS BEEN CONTINUOUSLY FIGHTING FOR SOLUTION OF THE ISSUE AND LAST ORGANIZATIONAL ACTION IN THIS REGARD HIGHLY SUCCESSFUL
    DHARNA PROGRAM AT JANTAR MANTAR ON THE 7TH MARCH 2014.
    7)RECENTLY THREE MAJOR RETIREES ORGANIZATIONS INCLUDING OUR PENSIONERS FEDERATION WHICH REPRESENT MORE THAN 85 % OF BANK RETIREES INCLUDING AIBRF HAVE COME TOGETHER ON THIS ISSUE OF PENSION UPDATION AND SOME OTHER COMMON DEMANDS AND HAVE ISSUED JOINT APPEAL.
    8)THESE BENEFITS ARE ALREADY BEING EXTENDED TO THE RETIREES IN THE GOVERNMENT SECTOR FROM THE YEAR 2006.
    K.R.SAINI

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  6. The hard work done by Sh K.R.Saini has been reproduced by Sh neelkanthji in a very nice manner but after reading the blog I feel sorry to note that there are a few readers to give their comments on the hard work done by sh saini ji.. All the union leaders of the S.B.I.pensioners association in different circles and specially the S.B.I. pensioners Federation are silent on this issue. What they are doing. only enjoying the pensioners funds , for the meetings and cheatings..
    Thank you Saini ji for this blog. and also thanks to sh neelkanthji for the encourgement.to .the readers.

    Rajkumarnegi

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    1. THE PENSIONERS HAVE TO REALISE THEIR RESPONSIBILITY RECOGNIZING THE HARD WORK DONE NEELKANTH SIR AND SHRI K.R. SAINI. OUR THANKS TO BOTH OF THEM.

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    1. Respected Sir,
      The hard works done by you and Shree K. R. Saini in favour of the pensioners of the banking industry especially in favour. of S.B.I. pensioners. The pensioners ofS.B.I. should .take interest to achieve the goal

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  7. Respected Sir,
    The hard work done by you and Shree K.R. Saini in the favour of the pensioners of banking industry especially of S.B.I. pensioners are enough.But the pensioners should take interest to achieve the goal. many many thanks to both of you for your hard working.

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  8. Mr. Neelkanth and Mr. Saini have enlightened us with some great information which has rekindled our hopes for getting a reasonable resolution of our long pending demands for improvement in pension. We,the retirees of the Bank, have been so badly treated by the government and the bank/IBA in pension and medical benefit areas, that majority of them are somehow managing to take care of their lives with the pittance that Bank pays them as pension. Continued neglect, years of hard work they did in the Bank when in service and meagre pension have broken their backbones and they are no longer a potent group to fight for even their own cause . So, the voices of only a few enterprising retirees like Mr. Neelkanth , Mr. Saini, Mr. Negi etc. are heard. Others have been forced by the follies of the establishment and meagre resources to keep low profile. I hope that the govt/Bank quickly address our grievances , failing which the pent up anger of this suppressed but extremely talented group of pensioners may erupt and become difficult to control.

    Mahesh Jha

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    1. WELL SAID, INSPIRING AND ENCOURAGING. THE RETIREE PENSIONERS NEED NOT FEEL FRUSTRATED AS THEIR GOAL HAS EVERY POTENTIAL TO ULTIMATE EMERGE AS SUCCESSFUL. YOUR COMMENT IS DULY FORWARDED TO KR SAINI AND RAJKUMAR NEGI. MY SINCERE THANKS.

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  10. My sincere thanks to Sri K.R.Saini . The revision of pension should have highlighted in the past settlements under wage settlements. This was not given priority hence not on par with central/state wage earners. Instead of blaming Associations/Federatons of bank employees/officials, let the pensioners organisations take up with renewed demands. Pensioners organisations this time will come out in flying colours. Hope positively. K.R.Tagore Feb.2nd 2015

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  11. SHRI MK.R TAGORE,IN RESPONSE TO YOUR WRITE UP DATED 2ND MARCH ,2015 I HAVE TO ADVISE THAT YOU ARE QUITE RIGHT AND IN THIS CONNECTIONS KINDLY GO THROUGH THE THREE CIRCULARS ISSUED BY ALL INDIA BANKS RETIREES FEDERATION ON 26.02.2015 FOR TAKING UP PENSION ISSUES OF BANKS EMPLOYEES.OUR PENSIONERS FEDERATION HAS ALSO TAKEN UP THE PENSION MATTERS WITH GOVERNMENT AND BANK AND IS ALSO FIGHTING THE PENSION ISSUES LEGALLY IN THE COURTS.
    K.R.SAINI.
    K.R.SAINI

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  12. In 10th BPS,none of the retiree’s problems have been considered by IBA and UFBU with a single line of Record Note as “CONTRACTUAL RELATION DOESN’T EXISTS BETWEEN BANK AND RETIREES”.It is not understood as to how the both parties signed the settlement accepting this note.The line itself is detrimental to the very existence of retiree group.

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  13. I convey my thanks to Sri Neelkanth and Sri KR Saini for their valuable comments on pensioners/retirees matters with vast knowledge which is the need of the hour.
    To settle the problems of retirees,the ideas and suggestions of the ibid intellectuals and like minded people is a must to be considered by IBA and UFBU.
    At present,no pensioner/retiree is happy with recent BPS.Let us hope in future.

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  14. My iteractionwith few working employees are not happy. Particularly reduction quantum of increase in \basic and consequent reduction in pension and commutation

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  15. SHRI DHANABALAN,JOINT NOTESIGNED BY U.F.B.U AND I.B.A REGARDING RETIREES WRONG AND PREPOSTEROUS RETIREES ISSUES HAVE ALWAYS BEEN A PART OF BIPARTITES AND WILL CONTINUE TO BE SO.THIS TIME U.F.B.U HAS COMPROMISED INTERESTS OF REETIREES FOR SOME ULTERIOR AIMS WHICH WILL COME OUT SOON OR LATER.GOVERNMENT OF INDIA LETTER ON A APPROVAL REFERS PENSIONERS AND PENSION REGULATIONS TOO ALONG WITH SERVING EMPLOYEES ,THOUGH IB.A/U.F.B.U MAINTAIN THE VIEW THAT ONCE ANY ONE RETIRES FROM REGULAR SERVICE THERE END THE COTRACTUAL RELATIONSHIP.
    K.R.SAINI

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  16. grateful Mr.Saini. Your post comes when I feared that court proceeding in respect of 7th bipartite retirees will take a long time.
    already 17 years have goneby since the first 7th bipartite retiree completed his serrvice.

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  17. many past retirees have already left to heavanly abode abd some are ready to
    depart. All associations and unions are only speaking big. pity pensioners. mandatory and statutory payment like 100% da neutralisation is not materalised
    and how can past retirees expect updation of pension. kudos to all associations
    and unions for dumping pensioners demands and for having realised their benefits.

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  18. happy to read your depth views why the bank should set the pension considering the present situation. hope for the best.

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      1. Why not we raise the issue in an international forum the richest bank in india not being able to meet the demands of its pensioners in connaivance with iba and govt. Why should the bank prefer a review in jaipuriar case and tell penfed the case of 7th bipartite retirees are being followed up

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  19. Besides above, one thing I would like to add that there are two type of pensioners ,I) who retired at the of 60 @ii) who has opted VRS and otherwise pensioners whatever the reason they are pensioners, category I) are the real one who are getting the full medical facility up Rs. 7-10 lacs. It means they are supposed to live & not the other ii) category pensioners. In my view it is only for retired employees association and not pensioners because they are not supposed alive. Pl. clarify and take some remedial steps to treat at par as only pensioners. Only then this discremation will be solved. Hope for the better, with regard.

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  20. I have no comment but to say that all the pensioners should be treated with at par.whether are retired or not but getting thr pension as per provision.If such be the position it clearly indicated that the association takesintt. only for 60 yrs. age retirees only & not for others.

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  21. With due respect this is to in from you that I have a pension account is your branch. After Feb/ 2009.I could not withdraw any pension from your branch.I.E I have last withdraw January 2009.PPO No-240550143745

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  22. i m retd employee of State Bank of india as Dy manager , retired in 2008 . before revision of pension in 2007 my pension payment include 50 % of basic pay+ FPP but after revision of pension in 2007 , FPP was not include for superanuation benfit in pension payment. regarding this issue i have send letter and email to LHO lucknow and PPG dept lucknow but no respose till date . kindly suggest the way to rsolve this issue . kindly share the website for SBI employee pension grievances and other authority email id so that the issuse can be addres.

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