Sunday, October 7, 2012

Bank Unions to submit charter of demand for 10th BPS by middle of October

 A meeting of UFBU, chaired by Com. S.S.Shishodia, President, AIBOA, and preceded by a meeting of 5 Workmen’s Unions, has been held on 28th September 2012 at Chennai.
Common approach was arrived at in the matter of wage revision. It was decided that Workmen’s Unions and Officers’ Unions would separately finalise the respective charters and the same would be submitted to IBA thereafter, tentatively by the middle of this month.

News Courtesy : Mr Mohan P 

5 comments :

chandan said...

Ask for 50% but settle for 15% in mid of 2015.

Sanjay Bhatt said...

I 100% agree with You.

Shankar said...

Mr Chandan,What you are writing is indisputable. However, some positive demands are in the list.Demanding old pension scheme by withdrawing the NPS(Which nobody knows the quantum of return on investment)for those who have joined after 01/04/2010 who are helpless in the matter is a good demand.At the age of 60+ I can definitely say that my mind is not in my control as it was when I was 30+. In my opinion this is a good and reasonable demand.

chandan said...

@Shankar:

Sir,
How is it possible to provide old pension to new employees, when GOI to almost all State govts, already adopted NPS since 2004, i.e. six years prior to bank employees? Even SBI adopted the same, four months after us.

As pension fund is also not sufficient for our pension and as a result the existing pensioners are not receiving the updation, I am not in favour of removal of NPS for new employees by endangering my future in retired life pension.

Regards.

Shankar said...

Mr Chandan,
If you go through various judgements and affidavits submitted by IBA to Courts, you will find that pension is a deferred payment of salary and managements are obliged to pay the same before payment of salary to existing employees. That is the reason, pension corpus is invested in government bonds to pay pension to us and gap if any from time to time is filled in every year. In the longer run as and when employees demise, their corpus fund gets accumulated and the remaining pensioners can be paid more pension. But in reality, governments/managements want to invest pension corpus in equities and earn more profit and want to shirk from their responsibilities.If NPS is substituted with old pension scheme, corpus in pension fund gets strengthened and the question of endangering our pension is out of question.My view is new employees were not given any chance to opt for new or old pension, but was imposed on them by the existing unions/managements.
If on the other hand return on investment in NPS is more beneficial to new recruits, nobody will object. If government/managements commit themselves with assured return of at least 10 % p.a., then NPS would be the best option which is absent now.

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