......our answer to all your banking needs


Follow AllBankingSolutions


    Follow allbanking on Twitter

Retirees Completely Dumped by IBA and UFBU :  They Say "There is No Contractual Relationship Between Banks and Retirees" Left to the Mercy of Courts



Rajesh Goyal 

Ads by Google


Till last month,  the circulars of UFBU and the statements of leaders upto end of April 2015,  indicated as if they are hotly purusing with IBA for settling certain demand of retired bankers.   UFBU have already resisted any attempt by Retiree Associations get involved in the negotiation talks as they viewed it as part of the negotiations.   Till 9th BPS also, the pension issue for the retired bankers was part of the negotiations, and thus everybody was hoping that leaders will be taking up the issue of retired bankers once they have concluded broadly the negotiations for the serving bankers.     For last one week or so, retired bankers started getting feed back as if UFBU has withdrawn itself for taking up the issues of the retired bankers.  It was too late for the retired bankers to understand and react to this volta face by UFBU in connivance with IBA.

Alongwith the Joint Note, they have released a Record Note of Discussions with IBA on the issues relating to Retired Bankers.   We place below the copy of the record note for the benefit of all our retired colleagues so that they know exactly how they have cheated them :-


Ads by Google


 The above is a document which will be remembered for long time as Cheating Document by IBA and UFBU.    In the said document IBA has introduced a new concept of  "contractual relationship does not exist between banks and retirees".   The periodic wage revision exercise based on mandate from member banks cover only wages and service conditions of serving employees.

After reading the above I was wondering what was the contractual relationship between retirees and banks when in the 9th BPS, 2nd pension option was given to retired bankers.   What was the relationship between retirees and banks when pension option was extended from 1986 to benefit and please certain leaders of that period?

I feel the above argument will not stand the scrutiny of any Court.   On the same pretext, we can conclude that the relationship between retired central government employees and government comes to end on the day the person has retired.  Then why does every CPC gives number of benefits to central government employees.   The pension matters in that case should not be part of the CPC.   I am of the firm view that this is one more method to harass the retired bankers and deprive them their due benefits and leave them to the mercy of Courts where they need to spend lot of money and energy - which most of the senior retired bankers do not have.

The above is a shocking case of colluding between UFBU and IBA and ensure that retired bankers are left to fend for themselves.  Now it is becoming clear as to why CHV was so threatening towards retired bankers association letter as he wanted to prepare ground for washing his hands from the issues relating to retired bankers.

I will be discussing  about other details in the forthcoming articles.



You can give your feedback / comments about this Article.   Please give only relevant comments as irrelevant comments are waste of time for yourself and our other readers.



blog comments powered by Disqus