The recently signed wage negotiation for bankers might have brought some good news for officers and workmen but there is practically nothing for the retired bank employees to rejoice.
None of their issues has been addressed in the recently concluded wage pact. IBA maintained it's stand as " any demand of the retirees can be examined only as a welfare measure as contractual relationship does not exist between banks and retirees."
IBA also stated that "As such there is no provision for updation of pension in banks." The joint note signed by IBA and UFBU also mentions that Bank pension can not be compared with central pension as it is a funded scheme while the other is out of budgetary allocation.
Click here to view the "Record Note" signed between IBA and UFBU