Pension issues in SBI–A background biology by K R Saini:


Appended is a message addressed to Ramchandra Upadhyaya by K R Saini which contains vital pointers in the interest of the retiree pensioners. The points so raised are highly pertinent from the angle of analysing the anomalies in the issue. 

“RESPECTED  UPADHYAYA JI, I ADVISE THAT OUR PENSION IS PROTECTED LEGALLY AT THE RATE OF 50% OF SALARY OF RETIRED EMPLOYEES AT THE TIME OF RETIREMENT————
OUR PENSION FUND REGULATIONS ARE WELL PROTECTED LEGALLY AS UNDER——-

1)STATE BANK OF INDIA  ACT1955.
2)THE HON’BLE SUPREME COURT JUDGEMENT DATED 23.02.1989.
3)CONSTITUTION OF INDIA ARTICLE -14.

RULE FIXING PENSION AT THE TIME OF FORMATION OF STATE BANK OF INDIA. 
AT THE TIME OF FORMATION OF STATE BANK OF INDIA,EMPLOYEES OF THE BANK WERE GOVERNED BY TWO SET OF PENSION RULES NAMELY ONE APPLICABLE TO IBI EMPLOYEES OTHER APPLICABLE TO SBI EMPLOYEES AS WELL EXPLAINED BYSHRI UPADHYAYA JI .IN THE CASE OF SBI EMPLOYEES  PENSION WAS CALCULATED AT THE RATE OF ONE-SIXTIETH PART OF EVERY YEAR’S SERVICE OF AVERAGE MONTHLY SUBSTANTIVE SALARY DURING THE LAST 36 MONTHS. 
            

THE HON,BLE SUPREME COURT BY ITS JUDGEMENT LAID DOWN AS PER 4TH CENTRAL PAY COMMISSION WITH SINGLE CEILING OFRS2400/ AS PENSION IN STATE BANK AGAINST THE BACKDROP OFBMAXIMUM MONTHLY SALARY OFRS4800/ OF DEPUTY MANAGING DIRECTOR IN STATE BANK OF INDIA AT THAT TIME.SUPREME COURT HAS ALSO SET THE FORMULA ON THE BASIS OFLAST 12MONTHS AVERAGE SALARY INSTEAD OF36 MONTHS AND THIS FORMULA HAS BEEN IMPLEMENTED AND IS STILL NOW. 
           

CONSTITUTION OF INDIA ARTICLE-14——–THE STATE NOT DENIED TO ANY PERSON EQUALITY BEFORE THE LAW OR EQUAL PROTECTION OF LAWS WITH IN TERRITORY OF INDIA.
HOWEVER THERE IS DISCRIMINATION IN THE SAME CLASS BY CREATING TWO CATEGORIES I.E 50%40%OF PENSIONERS BY THE STATE BANK OF INDIA AND BANK SHOULD FOLLOW THE ESTABLISH NORM OF PENSION BEING 50% OFTHE SALARY LEVEL OF RETIRED EMPLOYEES ATTHE TIME OF RETIREMENT(S).”

K.R.SAINI

The usual photos are not given in the post due to certain technical reasons.

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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

7 thoughts on “Pension issues in SBI–A background biology by K R Saini:”

  1. I convey my gratitude to senior colleages who are putting lot of time, labour & energy to get the justice of our long long pending pension annomolies. I trust these vital informations are also being shared with the Lawyers pleading our case in Delhi High Court. Regards BR Hira

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  2. AS A PERSON WITH THE BACK GROUND OF SOME INFORMATION ABOUT PENSION RULES & REGULATIONS SCHEME OF BANK EMPLOYEES 1995 FOR ALL BANKS, I UNDERSTAND,THOSE WHO OPT FOR THE PENSION SCHEME SHOULD FOREGO THE MANAGEMENT CONTRIBUTION OF PF ACCUMULATED AT THE TIME OF EXERCISING OPTION OF PENSION. WHEREAS, THE PENSION SCHEME WAS ALREADY UNDER OPERATION IN SBI WITH DIFFERENT SET OF PENSION RULES AS PER ACT OF 1955. IN CASE, IF PENSION RULES AND REGULATIONS OF 1995 IS MADE APPLICABLE FOR SBI PENSIONERS IN FIXING THE PENSION AMOUNT, WITHOUT THE PRECONDITION OF FOREGOING CONTRIBUTION TOWARDS PF BY SBI MANAGEMENT ,IS IT NOT A DISCRIMINATION BETWEEN SBI EMPLOYEES AND OTHER BANKS ?.

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  3. I have had the opportunity to read all the mails of Shri P.P.R. Upadhyaya. He has dealt with all the points stated in this blog.

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  4. Is our Popular Government aware that an Assistant General Manager of almost 10 years drawing through out at the Maximum of the scale of pay is getting lessor amount of pension vis-a-vis an Assistant joined together and retired a few months later. This is our biggest bank of the Nation?

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    1. My thanks with a meaningful pointer. We are working on it indefatigably. Let us see what finally transpires.Hope your practice is going on well as an intellectual your are. For a moment I felt lost into old memories when we worked together as a well knit fighting force against the management. All the best to you and the family. With love and affection: M R Awasthi

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