Department of Financial Services,
Ministry of Finance Govt. of India,
Jeevan Deep Building,
New Delhi – 110001
Sub: Pension Issues and Demands of Bank Employees
We wish to bring to your notice that Bharatiya Mazdoor Sangh number one central trade union of the country has decided to observe 1st August, 2012 as Pension Demand Day for the organized and unorganized workers of the country. Being a industrial federation of Bharatiya Mazdoor Sangh we have also taken a decision to observe 1st August, 2012 as Pension Demand day for the employees working in the Nationalised, Private, Co-operative and Regional Rural Banks. The issues and demands are as under:
1) UPGRADATION OF PENSION FOR BANK EMPLOYEES : Bank employees’ Pension Scheme was agreed upon and introduced in 1993 exactly on the lines and basis of the Central Government Pension Scheme. Even the New Pension Scheme that has been introduced for the Government employees has been made applicable to banking industry. But the various improvements that have been made in the Government scheme as per the 5th & 6th Pay Commission Report have not yet been extended to the banking sector. Hence issues like periodical updation of Pension Scheme along with wage revision for serving employees, 100% DA compensation for all pensioners, improvement in Pension, Commutation, Family Pension, etc. are very genuine demands that need to be resolved expeditiously. Even the Ex-Gratia Pension of Rs.300 per month being paid to the pre – 1986 retirees remained the same.
2) EXTEND 2ND OPTION OF PENSION TO RESIGNED BANK EMPLOYEES : As per the 2nd option of pension settlement signed on 27.4.2010 the resigned employees were left out with the opportunity to join the pension. Therefore, we demand to give the same opportunity to the resigned category of employees.
3) EXTEND PENSION SCHEME – 1993 TO EMPLOYEES JOINED AFTER 1-4-2010: In terms of the Bipartite Settlement it was agreed to work out and implement the New Pension Scheme for all employees joining / joined from 1.4.2010 on the lines of the Government employees’ scheme. It is now 26 months since signing the agreement on 27.04.2010. But IBA has neither worked out nor discussed with unions this New Pension Scheme for these new recruits. We therefore, extend Pension Scheme – 1993 to the employees joined after 1.4.2010 to continue the inflow in the Pension Fund.
4) EXTEND PENSION SCHEME – 1993 TO RRB EMPLOYEES : Extend Pension Scheme to RRB employees at par with Sponsor Commercial Banks in terms with Pension Agreement dated 29.10.1993 as has been extended to the employees of all Public Sector Banks.
5) RE-OPEN PENSION OPTION AND UPGRADE PENSION FOR RBI EMPLOYEES : Since the Pension Scheme in RBI was introduced on the Central Government Pension Scheme, we demand that as per upgradation of pension is available for Central Govt. employees same should be extended to RBI employees and re-open pension option for remaining employees.
6) INCREASE AMOUNT OF FAMILY PENSION : Family pension amount is too small for the family of the employee. Therefore, we demand to increase the amount of Family Pension.
7) REVISED 1995 PENSION SCHEME OF CO-OPERATIVE BANK EMPLOYEES : Pension Scheme for Co-operative Bank employees was introduced in 1995 and it was agreed that after every five years the amount will be revised. Since 1995 no amount has been revised. Therefore, we demand to revise the same.
8) EXTEND SBI PENSION SCHEME TO EMPLOYEES JOINED SBI AFTER 1.4.2010 : As per the Govt. guidelines it was decided to work out and implement the New Pension Scheme for all employees joining / joined from 1.4.2010 on the lines of the Government employees’ scheme. We therefore, demand to extend SBI Pension Scheme to the employees joined after 1.4.2010 to continue the inflow in the Pension Fund.