Wednesday, May 27, 2015

Bank Bipartite : Cheer for serving employees but nothing for retirees

Image result for poor old man cartoon

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

1 comment :

S.Lakshman Rao said...

Dearness Relief on par with serving employees is payable.The proposal has not been properly projected by the association.In such circumstances,what the State/Central Government will be in a position to do.Thus and therefore,Negotiable Instrument Act is required to be delinked from Government(s.whether or state as the case may be.Only consolation available is working people will get the arrears and the Officers later.Hence No comments beyond the views in favour of Retired/Retiring Bank Officials.

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