Retired Bankers Needs to Unite and Create Awareness Among PS Bank Board Members About Illegally Depriving the Retired Bankers their Demands and Reducing Pension under 10th BPS
S. Ramachandran and Rajesh Goyal
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In the 10th BPS, retired bankers have been rudely told that contractual relationship does not exist between banks and retirees. Therefore, we need to go back to the time when 9th BPS was signed in March 2010, An article in Economic Times in 2010 appeared under the heading “IBA signs revised pension agreement with bank unions” . The above article included the following comments by IBA Chairman of that time:-
"There are the two aspects of our pension offer. There is a renewed pension offer to retired employees (after 1995-96 pension regulations) who earlier had not opted for the scheme earlier. All employees who are on the bank's roll as on March 30, 2010, will be covered under the existed defined benefit scheme. While those who join from April 1, 2010, will be covered under the government's new pension scheme and the government guidelines will be applicable," said MV Nair, chairman of Indian Banks' Association (IBA).
Thus, till 2010, IBA was of the firm view that there is a contractual relationship between banks and retirees and thus, the above offer was part of the 9th BPS. Therefore, retired bankers rightly trusted UFBU and IBA, when demands of the retired bankers formed part of the Charter of Demands submitted to IBA, and during 30 months IBA never publicly objected to these demands. IBA has never allowed the retired bankers associations to negotiate with IBA as UFBU have always included the demands of the retired bankers in their Charter of Demands and claimed that UFBU is only entitled to negotiate even on behalf of retired bankers.
Let me here give an overview of some of the demands included in the Charter of Demands by All Four Officers Unions, who were part of the UFBU : -
The workmen unions too have included the demands of the retired bankers on similar lines in their Charter of Demands
It is interesting to note that UFBU even differentiated between superannuation benefits and welfare activities as the later were a separate category as shown above.
Thus, in nutshell we can say that the retired bankers till the signing of the 10th BPS had firmly believed that UFBU will look after their interest as their leaders have been promising so since they released the Charter of Demands in October 2012. All retired bankers associations were barred to negotiate for the issues relating to retired bankers as this has been the tradition since beginning and 9th BPS has clearly indicated in its content and as per press interview of IBA Chairman quoted above.However, the signing of 10th BPS proved to be betrayal by UFBU as they totally ignored the demands of the retired bankers inspite of these being included in the Charter of Demands. The biggest set back was the Record Note signed by IBA and UFBU, as it read “demands of retirees can be examined only as a welfare measure as 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. Retirement benefits are based on service conditions prevailing at the time of retirement of an employee and these do not change with settlement”.
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The biggest question which is hunting retired bankers is that what law has changed between 9th BPS and 10th BPS that the contractual relationship between retirees and banks have ceased to exist now? Can UFBU quote any such law or IBA and UFBU have done it arbitrarily to merely cheat the retired bankers
On 28th May, 2015, we have published an article under the heading “Unconstitutional and Negative Attitude of IBA and UFBU Towards Retirees Exposed - Pointwise Rejoinder To Record Note of Discussion of IBA and UFBU Relating to Retirees Issues” by S. Ramachandran. In the said article Mr Ramchandran has forcefully rebutted what IBA and UFBU has tried to project by signing the Record Note. The said article has over 950 facebook likes and over 130 comments, one of the largest in number for any article on this website. The reason for this is that retired bankers have realized the reality of UFBU and IBA and have been shaken for the trust they have reposed in them as retired bankers till date were believing that UFBU will look after their interest.
After the Record Note becoming public, there are only few options for the retired bankers, which include appeals to the right minded people in authority, which are only limited in number, or they should approach the Courts. The later course is certainly costly and time consuming. Therefore, now S Ramachandran has sent us a copy of the letter which has written to the Board Members of BoB. We are publishing the same hereunder.
The above letter represents the plight of the retired bankers and betrayal by UFBU and IBA. I think the above letter should be sent to as many directors of different PS Banks as possible so that an awareness is created among them about the plight of the retired bankers. This is of greater importance to ensure that this letter reaches independent directors of every PS Bank as law prescribes for certain liabilities for them. Let retired bankers find out the addresses and emails of the directors of their own banks and send the modified version of the above letter to them through email / regular postal mail.
This will help create awareness about the illegal agreement that has been signed in the form of “Record Note” depriving the retired bankers their rights.
I just read on a FaceBook a circular issued by a Retired Bankers Association which appears to be only a sister organization of AIBOC. In the said circular they have tried to defend UFBU / AIBOC and claimed that AIBOC will now assist retired bankers in realization of their demands. This is one of the worst kind of claims after what we have seen in Record Note vs Charter of Demand for 10th BPS. No one should be befooled by such claims as it is another mode to cheat the retired bankers.
I am sorry to say that only a handful of retired bankers are aware of the intricacies and betrayal of UFBU and IBA. Others have learnt to suffer and die slow death. Therefore, there is a need to create awareness among the retired bankers so that they also understand as to how IBA and UFBU has cheated them. If you understand these, ensure that you tell your friends who have resigned to their fate and have lost the will to fight IBA. Now maximum number of retired bankers have to be romped in to fight the legal battle. IBA and UFBU alongwith bank management will try their best to throttle the rising voices of retired bankers.