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    PATHETIC  CONDITION  OF  OLD  RETIREES  FROM  BANKING SECTOR  - Nobody wants to listen to their grievances



( We have received the following mail from  alongwith the  TRANSLATION OF ARTICLE APPEARED IN MALAYALAM   DAILY ‘JANAYUGAM’ ON 17 02 2012.)



Dear Union Leaders & Stalwarts ,


Read the attached Translated copy of Article appeared in Malayalam News Paper. Tide and Time Waits for None. Those who are in Service to day would be tomorrow’s Retirees. Act Fast and do the Justice to Today’s’ Retirees and reap the fruits when you retire.


"Every year December 17 is observed as Pension Day. It was on 17h Dec., 1982, the Constitution Bench of Supreme Court in a landmark decision declared: “Pension is a right, and it is not a deferred wage. Nor, it is a favor or concession extended by the employer.” But in the case of Bank employees, the Central Government and Indian Banks Association are trying to establish that pension is not a right, but a favor given to the retirees. Every time when there is a revision of pay in the case of central and state employees, their pension also gets revised. The same is the case with P S undertakings also. But pensioners numbering over 450,000 all aged between 60 and 90 years are denied the benefit of revision of pension, by the Central Government and the IBA. During the last two decades innumerable petitions and memoranda were submitted by the retirees, to revise the pension, but the authorities have closed their eyes and have not done anything in this regard.


It is a matter of irony that the husbands of retired employees, who occupy important positions in the state and centre appear to be ignorant of the fact and the plight of the retirees. From 01 01 1986, pension has been permitted to retirees. The scheme is similar to one prevailing for the central government employees. 50% of the last drawn pay is treated as basic pension. Till death the bank pensioner draws the same basic pension. Even after 25 years of retirement the basic pension remains the same and the centre, nor the IBA has taken any steps to improve or increase the same.


A special assistant of the Bank, who retired on 30th April 1986, is getting a basic pension of Rs.1431/ only, whereas an employee who retires now, in the same cadre receives a basic pension of Rs.12000/-. The basic pension of a chairman of a Bank, retired in 1986    is Rs.3500/, whereas the basic pension of a junior officer who retires now is Rs.12800/- and that of a peon is Rs.7025/-.The basic pension of a middle level officer who retired in Oct 1987 is Rs.1713/- . An Asst General Manager of a bank draws a basic pension of Rs.2322/- since his retirement in Sept 1986. Today an Asst Gen Manager, on retirement now, gets a basic pension of Rs.17600/-. What a disparity! An Asst General Manager, retired between 1982 and 1985, gets an ex-gratia basic pension of Rs.200/- only!


The widows of two General Managers who retired from service between 1981 and 1984 get a family pension of Rs.1000/- How they will be able to a lead  honorable life with this meager pension, in the light of high inflation and price rise, is anybody’s guess. 


Against this injustice, 4,50,000 retirees are planning to resort to a nationwide protest. Their demand of upward revision of pension should at least be considered now, though belatedly, by the Government and the IBA.


Retired Bank Officers National Confederation has brought this demand to the attention of the concerned several times. Time has now come for the Bank employees to take a stand and support the demand of retired employees, so that their pension is revised. There is no doubt that all the laborers and believers in democracy will extend their firm support to the cause of the retired employees, whose demand is entirely justifiable.



R Gopalakrishanan Nair

(Executive Committee Member, Associate Banks’Retired Officers’ Association-SBT Unit)

(An approximate translation of the article, with apologies for mistakes, if any)

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