Pension issues in SBI–plights of old SBI pensioners:



Problems in relation to pension issues in State Bank of India continued accumulating one after the other for a long time and this accumulation has resulted into several plights for retirees from the Bank. There is no point in repeating them as a series but some of them being glaring ones need to form the knowledge base of the pensioners and also the readers taking due interest in the matter. The veteran in the field K.R. Saini has come out with certain salient aspects by way of his valuable comment in this connection and the same is reproduced for the information and use by the readers:

“KESHAV RAI SAINI
Sep 12, 2014 @ 09:38:18 Edit

THE PLIGHT OF OLD S.B.I PENSIONERS
IN STATE BANK OF INDIA THE PLIGHT OF THOSE PENSIONERS WHO ARE ABOVE 70 YEARS TO 87 YEARS OLD IS NOT UP TO THE MARK.IN STATE BANK OF INDIA THE HIGHEST POST IS DEPUTY MANAGING DIRECTOR AND WHO RETIRED BETWEEN 1.11.1987 TO 31.10.1992 IS DRAWING MAXIMUM PENSION OF RS 19029/ PER MONTH WHAT TO TALK OF OTHER OFFICERS/EMPLOYEES WHO RETIRED DURING THIS PERIOD.SIMILARLY DEPUTY MANAGING DIRECTOR WHO RETIRED BETWEEN 1.11.1992 TO 31.10.2002 IS GETTING MAXIMUM PENSION OF RS 22129/ PER MONTH WHAT TO TALK OF OTHER OFFICERS WHO RETIRED DURING THIS PERIOD, THOUGH THE GOVERNMENT’S POLICY PRONOUNCEMENTS HAVE NO POLICY PRESCRIPTION FOR THE AGED WE TRUST IT IS NOT AN OMISSION BUT THE BELIEF OF THE RULING DISPENSATION THAT CARING FOR THE SENIOR CITIZENS IS NOT AN OPTION BUT A DUTY.THE TASK BEFORE THE NEW GOVERNMENT IS NOT EASY.UNFINISHED AGENDA IS ITSELF HEAVY AND ADDED TO THAT IS THE HIGH EXPECTATIONS THE NEW GOVERNMENT HAS GENERATED.ALL THESE ARE GOING TO KEEP THE NEW GOVERNMENT ON ITS TOE EVEN TO FULFILL HALF OF WHAT PEOPLE EXPECT OF IT.,WE ARE CONSCIOUS OF THE CONSTRAINTS AND LIMITATIONS WHICH IS WHY THE BANK RETIREES HIGHLY PRAGMATIC IN THEIR DEMANDS..ALL THAT WE WANT IS A LIFE OF DIGNITY,,STATUS AND HARMONY WITH NO ANXIETY ALL OUT THE AUTUMN YEARS OF OUR LIFE.PENSION HAS TRANSCENDED FROM BEING A MERE ASSURANCE OF SUBSTENANCE TO AN ASSURANCE OF DIGNITY,STATUS AND HARMONY TO RETIREES.
WE WISH NOT TO BUT WE ARE CONSTRAINED TO BELIEVE THAT IT IS NOT DEARTH OF MONEY AND DEARTH OF EMPATHY AND COMPASSION THAT PREVENTS THE OFFICIALS OF THE MINISTRY OF FINANCE.MINISTERS OF THE PRESENT GOVERNMENT AS OPPOSITION PARTY LEADERS EXTENDED THEIR SUPPORT TO OUR JUST CAUSE MORE THAN ONCE AND HAVE ALWAYS BEEN SYMPATHETIC. TO THE ISSUES CONCERNING BANK RETIREES.
WE DO NOT WANT TO FLY HIGH BUT WE WANT ONLY TO WALK WITH DIGNITY.THE GOVERNMENT THAT SETS STORE ON THE PRIDE OF BEING INDIAN MAY PLEASE ENSURE THAT WE,THE SENIOR CITIZENS ARE ABLE TO LIVE IN N PRIDE.BEFORE SIGNING OFF,WE EXTEND OUR WISHES AND CO-OPERATION TO THE GOVERNMENT TO DO THEIR BEST TO OUR NATION AND OUR PEOPLE.” K.R SAINI

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13 thoughts on “Pension issues in SBI–plights of old SBI pensioners:”

  1. THE FATE OF PENSIONERS/FAMILY PENSIONERS PARTICULARLY IN THE STATE BANK OF INDIA IS MUCH WORSE.IN STATE BANK OF INDIA,ALTHOUGH 5TH AND 7TH BIPARTITE RETIREES WERE GETTING SALARY OF THE PAY SCALES OF 5TH AND 7TH BIPARTITE SETTLEMENTS RESPECTIVELY AT THE TIME OF THEIR RETIREMENT(S),BUT IN THEIR CASE BASIC PENSION HAS NOT BEEN REVISED UP TO NOW.NOW THESE RETIREES ARE ABOVE 82 YEARS OLD IN THE CASE OF 5TH BIPARTITE RETIREES AND ALMOST ALL ABOVE 70 YEARS OLD IN THE CASE OF 7TH BIPARTITE RETIREES AND THEY ARE SUFFERING FOR LAST 27 YEARS AND 16 YEARS RESPECTIVELY DUE TO NON REVISION OF THEIR PENSION. K.R SAINI

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  2. LET US WORKING STAFF ORGANISATIONS (U.F.B.U) WOULD SUCCEED IN GETTING SUBSTANTIAL BENEFIT FOR THEIR MEMBERS AND ALSO PROVIDE SOME RELIEF TO 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 THE NEW GOVERNMENT. K.R SAINI

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  3. THE MAIN REASONS FOR THE PLIGHT OF PENSIONERS/FAMILY PENSIONERS PARTICULARLY IN S.B.I IS NOT SO GOOD ,BECAUSE OF NON REVISION OF PENSION OF 5TH AND 7TH BIPARTITE RETIREES,THERE IS NO UPDATION OF PENSION AND FAULTY PENSION FORMULA @ 50%/40%.HOWEVER IN THE CASE OF CENTRAL GOVERNMENT EMPLOYEES,THE 5TH 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 PAY SCALES.THE 6TH PAY COMMISSION PAVED WAY FORE THE SUBSTANTIAL INCREASE IN PAY AND PENSION OF THE EMPLOYEES OF THE GOVERNMENT BY PROVIDING MUCH NEEDED RELIEF TO THE PENSIONERS AGED 80 YEARS OR ABOVE INCREASING THE QUANTUM OF THEIR PENSION.AS THE ABOVE BENEFITS ARE NOT THE EMPLOYEES IN THE BANKING INDUSTRY INCLUDING S.B.I.AT PRESENT FAMILY PENSION IS BEING PAID@ 15% OF LAST DRAWN PAY IN THE BANKS WHEREAS FAMILY PENSION @ 30% OF LAST DRAWN PAY IN R.BI..ALL PENSIONERS WHO RETIRED BEFORE 1.11.2002 ARE NOT GETTING 100% D.A NEUTRALIZATION ON BASIC PENSION IN THE BANKING INDUSTRY INCLUDING S.B.I,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. THE ROLE PLAYED BY OUTGOING FINANCE MINISTER AND ITS FINANCE MINISTRY MANAGING AND CONTROL OF ALL PUBLIC SECTOR BANKS DOES NOT LEND ANY CREDIT TO THE OUTGOING GOVERNMENT AS THEIR OWNER.THE I.B.A GETS DICTATED BY LIMITS SET BY THE FINANCE MINISTRY ON THE TIME OF EVERY SETTLEMENT HAVE CREATED MUCH DISPARITIES BETWEEN THE PAY SCALES AND PENSION OF THE GOVERNMENT EMPLOYEES AND BANKS EMPLOYEES AFTER THE IMPLEMENTATION OF 6TH PAY COMMISSION.LET US HOPE SOME FAVOURABLE SETTLEMENT FOR THE PENSIONERS IN THE 10TH BIPARTITE SETTLEMENT WHICH WILL TAKE PLACE IN THE ERA OF NEW GOVERNMENT. K.R.SAINI

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  5. IN STATE BANK OF INDIA ,FATE OF OLD PENSIONERS IS WORSE DUE TO THE FOLLOWING REASONS ALSO.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 & 7TH BIPARTITE RETIREES,PENSION HAS NOT BEEN REVISED ON THE BASIS OF THEIR PAY AT THE TIME OF THEIR RETIREMENT(S) AND AS A RESULT OF THIS THEY ARE GETTING PENSION@28% OF THE PAY AT 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 IS WITH ONE UNIFORM FORMULA@50% OF THE AVERAGE PAY OF LAST 10 MONTHS W.E.F 1.1.1986. K.R SAINI

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  6. IN STATE BANK OF INDIA,THOSE WHO RETIRED UNDER THE 4TH AND 5TH BIPARTITE SETTLEMENTS (FROM 1.1.1986 TO 31.10.1992/31.10.1993)THEY WERE IN RECEIPT OF VERY LOW BASIC PAY AND AS SUCH WERE SANCTIONED MEAGRE PENSION OF RS 2400/ BEING THE MAXIMUM BASIC PENSION.ALL THESE RETIREES ARE ABOVE 82 YEARS OLD.SIMILARLY 6TH AND 7TH BIPARTITE RETIREES WERE SANCTIONED MAXIMUM BASIC PENSION OF RS 5920/ WITH EFFECT FROM 1,3,1999 ON THE BASIS OF 50%/40% FORMULA.ALL THESE RETIREES ARE NOW ABOVE 70 YEARS TO 82 YEARS OLD.THE PENSION OF 7TH BIPARTITE RETIREES HAS NEVER BEEN REVISED SINCE THEN,THE ALLOWANCE NEUTRALIZATION MUCH LESS AS BEING ACCOUNTED FOR FOR THE RETIREES WHO RETIRED ON OR AFTER 1.11.2002..LOWER PENSION,LESS DEARNESS ALLOWANCE DOES NOT PERMIT THE PENSIONERS/FAMILY PENSIONERS WHO ARE SURVIVAL 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 HAVE 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 TO PROVIDING REQUIRED RELIEF TO THEM.BUT WILL ANY BODY LISTEN AND PONDER OVER IT.K.R SAINI

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  7. THE SETTLEMENT REGARDING PENSION ISSUES IN ANY BIPARTITE SETTLEMENT BETWEEN I.B.A AND U.F.B.U WOULD NOT APPLY TO S.B.I EMPLOYEES.BECAUSE STATE BANK OF INDIA WAS NOT A PARTY TO ANY SETTLEMENT IN SO FAR AS PENSION MATTERS ARE CONCERNED.BUT IN CASE OF 7TH BIPARTITE STATE BANK OF INDIA/GOVERNMENT UNILATERAL IMPOSED PENSION TO THESE RETIREES ON THE BASIS OF OF OF 6TH BIPARTITE PAY SCALES BECAUSE OTHER BANKS WERE DRAWING PENSION ON THE BASIS OF 6TH BIPARTITE PAY SCALES. BANKS HAVE SOLVED THIS ANOMALY IN THE 8TH BIPARTITE SETTLEMENT AND ALL THE PENSIONERS OF OTHER BANKS ARE DRAWING PENSION ON THE BASIS OF 7TH BIPARTITE PAY SCALES WITH EFFECT FROM 1.05.2005.HOWEVER 7TH BIPARTITE RETIREES OF STATE BANK OF INDIA ARE STILL DRAWING PENSION ON THE BASIS OF 6TH BIPARTITE PAY SCALES.THESE RETIREES ARE NOW IN THE RANGE OF 70 YEARS TO 76 YEARS OLD AND ARE SUFFERING. K.R SAINI

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