Pension issues in SBI–K.R. Saini’s appraisal on the latest:



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It’s after quite a gap that a write-up so drafted by KR Saini dealing with the current scenario on pension counter is being reproduced below. Several of the pensioners and the retirees from State Bank of India have all along been asking for it. It is for the readers to realise that whatever material KR Saini is providing is not just some casual reading stuff, it is in fact based on the situations obtaining at obstructing the necessary efforts to secure the requisite outcome. The feedback so  offered by the author indeed strengthens the modus operandi to elicit what is desired and claimed. It would be much worth and fruitful if this post is perused in conjunction with that of Ramchandra Upadhyaya’s published on this blog on 14/01/2016 link of which is given below for Your ready reference. Your cooperation and support is earnestly solicited to make the movement a compounding success

Link: https://uppermost.me/2016/01/14/pension-issues-in-sbiyet-another-bouncer-from-ppr/


krsaini
Jan 03, 2016 @ 14:58:39 Edit

PROCEDURE ADOPTED FOR REVISION OF CEILING OF PAY FOR DETERMINATION OF PENSION IN CASE OF 10TH BIPARTITE RETIREES OF STATE BANK OF INDIA.
AS YOU ARE AWARE THAT 10TH BIPARTITE WAS SETTLED ON THE 25TH MAY,2015 AND BANK RECOMMENDED TO M.O.F FOR REVISION OF THE CEILING OF PAY FOR
10881486_1016309615062877_1718043244602304723_n_thumb DETERMINATION OF PENSION IN JULY ,2015 AND BANK GOT THE APPROVAL/SANCTION IN OF NOVEMBER,2015 AND ACCORDINGLY BANK HAS NOW RELEASED THE PENSION TO 10TH BIPARTITR RETIREES IN DECEMBER,2015 ON THE 21ST DECEMBER,2015.IN APPROVAL/SANCTION LETTER ISSUED BY M.O.F THEY REQUESTED THE BANK FOR CARRYING OUT NECESSARY AMENDMENTS IN PENSION REGULATIONS TO THIS EFFECT MAYBE PROCESSED AS PER SECTION 50 OF STATE BANK OFINDIA ACT(23 OF 1955).
AFTER RECEIPT OF GOVERNMENT’S APPROVAL/SANCTION OF THE REVISION OF PENSION FOR 10TH BIPARTITE RETIREES,BANK APPROACH THE CENTRAL BOARD OF THE BANK ON THE 16TH DECEMBER,2015PENDING AMENDMENTS IN THE S.BI EMPLOYEES PENSION FUND REGULATIONS-2014 AND THEREAFTERSEEK PERMISSION OFTHE GOVERNMENT FOR NOTIFICATION IN THE OFFICIAL GAZETTE.THE SAME PROCEDURE IS FOLLOWED IN CASE OF 7TH ,8TH AND 9TH BIPARTITE.
THE ABOVE PROCEDURE IS FOLLOWED IN RESPECT OF EACH BIPARTITE SETTLED.TILL THE BANK GETS THE APPROVAL/SANCTION OF CIELING OF PAY FOR DETERMINATION OF PENSION ,BANK USED TO PAY THE PENSION TO ITS EMPLOYEES ON THE BASIS OF PREVIOUS SETTLEMENT/RULES.
UNFORTUNATELY THE PROPOSAL IN RESPECT OF 7TH AND 8TH BIPARTITES WERE SUBMITTED IN APRIL 2006 AFTER THE STRIKE IN APRIL2006 WHEN REVISION OF CEILING OF PAYFOR DETERMINATION OF PENSION HAS BEEN APPROVAD IN CASEOF 8TH BIPARTITE ONLY AND APPROVAL IN CASE OF7TH BIPARTITE RETIREES WAS NOT CCORDED BY THE M.O.F FOR THE REASONS BEST KNOWN TO M.O.F.NOW PROPOSAL FOR REVISIONOF PENSION OF PENSION OF 7TH BIPARTITE RETIREES HAS BEEN AGAIN SENT ON 27.04.2015 AND STILL PENDING WITH THE GOVERNMENT.


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5 thoughts on “Pension issues in SBI–K.R. Saini’s appraisal on the latest:”

  1. OUR PENSION IS REGULATED BY THE STATE BANK OF INDIA EMPLOYEES PENSION FUND RULES 1955 AND NOW STATE BANK OF INDIA EMPLOYEES PENSION REGULATIONS–2014.
    WHENEVER THE WAGE REVISION TAKES PLACE AFTER BIPARTITE SETTLEMENT,THE REVISION IN PENSION DOES NOT TAKE PLACE AUTOMATICALLY/IMMEDIATELY.AS PER 7TH BIPARTITE SETTLEMENT DATED 27.03.2000,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 INTO ACCOUNT AS NECESSARY SANCTIONS WERE NOT ACCORDED .
    K.R.SAINI

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  2. AS PER REGULATION 2(h) ”PENSION” MEANS THE PENSION AS COMPUTED UNDER REGULATION 23 AND REGULATION 23 SAYS–COMPUTATION OF PENSION– THE PENSION PAYABLE UNDER REGULATION 22 SHALL BE THE AMOUNT CALCULATED AT THE RATE OF ONE-SIXTIETH PART OF EVERY YEAR’S PENSIONABLE SERVICE OF THE AVERAGE MONTHLY SUBSTANTIVE SALARY DRAWN DURING THE LAST TWELVE MONTHS’ PENSIONABLE SERVICE.
    THE ABOVE REGULATION HOLDS TRUE FOR ALL THE PENSIONERS OF S.B.I FROM THE YEAR 1986(1.1.1986) EXCEPT 7TH BIPARTITE RETIREES,WHERE FOR THE PURPOSE OF CALCULATION OF PENSION,PAYSCALES AS 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).
    THIS IS THE ONLY GROUP OF PENSIONERS IN THE BANK WHICHN IS NOT GETTING PENSION ON THEIR LAST DRAWN SALARY WHICHIS NOT EQUITABLE.IT IS AN ABERRATION NEEDS CORRECTION..
    K.R.SAINI

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  3. THE LEGAL POSITION WOULD BE THAT IF POST SUPPERANNUATED OF AN EMPLOYEE WAGES ARE INCREASED FROM A DATE ANTERIOR FROM THE DATE OF SUPPERANNUATION AND DIFFERENTIAL PAID,FOR PURPOSE OF COMPUTING PENSION WHILE INDEXING THE LAST TWELVE MONTHS DRAWN WAGES THE PENSION WOULD HAVE TO BE REFIXED KEEPING IN VIEW THE INCREASED PAY ON THE SAME BEING REVISED.ITNEEDS TOBE MENTIONED THAT THE RETIREES BEING PAID SALARY AND ALLOWANCES AS PER THEIR REVISED SALARY FROM 1.11.1997/1.04.1998.
    K.R.SAINI

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