Is it really correct that those employees who resigned prematurely for other reasons are not eligible for pension? It is really unfair that SVRS people are eligible for one more option, during that time they got more benefit apart from PF, Gratuiry and full encashment of PL, whereas resigned employees got only 50% of PL encachement but still these people are not elegible for pension options. Where is the justice?

Regards
Nalini Prasad

 Hi,

I am a VRS optee officer from Canara Bank (SVRS 2000) and not opted for Pension. I understand that I can opt for pension , for which I have refund the bank contribution of PF at whatever interest rate specified/decided. In addition to this a 30% of pension corpus fund is to be borne as I understood. How this contribution is calculated. Will it be 30% of the bank's contribution of PF I have got at the time of retirement.

Please clarify.

Thanks & regards
E Nageswara Rao

Dear Sir,

I am a retired Officer of a nationalised bank ( came under VRS 2000). At the time of retirement I opted for Pension and drawing Pension.My question here is 2. First one is "Even though I have opted for Pension at the time of retirement-Is it necessary that I have to share the Pension Corpus Fund?  Second when the arraers to us will be paid on account of Revision of wages in this settlement? Can anyone enlighten me over this points.

Thank you

Gurumurthy

 Would you please clarify me  `

One of our ex-staff joined the Bank in 1967 and had opted for PF and resigned from the services of the Bank in 1996, after completing 29 years of service. 

1. Whether his case is considered as VRS or resignation

 2. Whether he would be given another option for pension

 As per the latest settlement, 2nd option would be given to those employees who retired under superannuation, under VRS/VRS under special scheme and for family members of PF employees who died in harness.

 What about a surviving employee who had opted for PF and resigned after putting 29 years of service, as above?

 Please clarify

 N.Varadarajan

As you are aware that our DA is related to Consumer Price Index, kindly inform me the items included under the same to calculate index prices.

naveen   union bank of india

Kaushik Paul

MY QUESTION IS THAT PERSON WHO HAVE TAKEN VRS HOW WILL THEY BE BENIFITTED i HAVE HEARD THAT PENSION AAREARS WILL BE GIVEN AT WHAT TIME

PLEASE INFORM

Can you please provide me the link/or the fitment charts prior to year 2002 to check whether my fitment is proper or not?

Thanking you in anticipation

regards

Nagendra;    nagendramk@yahoo.com

I am an ex-serviceman, joined the Bank  after serving  IAF for 10yrs. Opted to retire under the VRS2000, with 23yrs of Banking Service. In the original Draft scheme (pension) it was stated that those persons, drawing mil. pension may continue to draw the same and in that case their military service will not be reckoned to Bank service. That means a person not drawing the military pension is eligible for counting his military service, as done by the GOI, RBI,SIDBI,NABARD & SBI etc.. BUT in the final version of the pension scheme, they diluted this clause with...Military pension,  if any , and their mil. service will not be taken...etc.    (xsm-get lost)

 Since this poor souls falls under the minority category  and their voting power is so neglegible, the so called unions/assocn. did not show any interest and contine to corner them. They are interested to collect the membership fee/donation/share etc. only.

 Now, my question is that: is there any move to consider ex-servicemen's military service (non- pensioners)to Banks service.and show some respect to these un-organised and hapeless lot. The famous sloka, coined by  late Shastryji-" JAI  JAWAN , JAI KISSAN" conveninetly changed as "DIE JAWAN , DIE KISSAN".

 Mera Bharat Mahan-JAI HIND. Regards..

 CHANDRAN PARAYIL

 Sir,

I am an ex officer  of nationalised bank and retired during 2001. When pension scheme was introduced in Banks  AIBEA  instead of bargaining and fight for improved pension scheme vigourously campaigned against the scheme by deliberately misleading gullible employees by projecting huge rise in index points and informed that those opting for pension will loose anything between 10 to 15 lakhs. The so called experts predicted that those who opt for PF and retiring by 2015 will get 35,00,000 PF amount.

Now we are already reached 2010 and sure none of that is going to happen. When 5 years bebefit was rejected to SVRS retirees Unions then turned a blind eye to it. They did not even protest. When some poor employees fought the leagal battle these leaders did not offer any help monetarily or morally.

 Now suddenly they are singing diffarent tune. Now I am sure they come up with circular saying Pension is better than PF. Both IBA and Unions are making poor employees Bhakras.

Now there are many questions un answered.

 1. In case of employees retired  under SVRS 2000 scheme what is the effective date of implentatation of pension?

2. What is the rate of interest and from which date they have to pay interest on the PF amoint they are supposed to return.

3. Now there are diffarent DA rates. What is the DA rate applicable to them?

4. From 1-11-1993 pension was madw compulsory. Now whether employees who have earlier not opted for pension and now opting for  pension only have to bear 30% cost  or all employees now covered inder pension scheme including those joined after 1-11-1993 have to bear this 30% cost?

5. What actually this 30% cost means and approximately roughly how much each employee has to bear?

6. Now there is wide spread demand that DA  rates on pension should be uniform for all categoties of pensioners irrespective of year they retired. It is reported that court rulings are also supports it. Does unions have demanded  this?

7.When wage revision  on most other govt  organisations exceeds 30% why union demanded only 20%. Will AIBEA and others have any convincing explanation?

8.By projecting second pension option as their victory Unions haveside lined other issues viz  improved medical, conveyance and leave rules for existing employees.

9. Some Unions like RBI pensioners union have taken up the matter with govt to provide a system in pension scheme where in Basic pension  has to be

revised as and when new wage revison takes place. Whether our leaders aware of this? Will they bargain  for better pension scheme now

 Now we are told that these issues will be finalised within 90 days. However now the question is what actually is the demand of the unions if there is any in all the above aspects and why there are not going to take bamk employees in confidence before signing on dotted lines. Why can't they inform employees actually wat they are going to demand in above issues. All unions have their own websites. But none of them elaborated on these poinrs which every employee seeking answers. Whether they have taken employees for granted? Why these secret deals?

 I request these leaders to arrange meeting in every region and explain the details of present negotiations. Atleast will they issue a circular explaining all details. I doubt it. But one circular is sure to come asking for levy.

 I came to know from my friends who worked in Canara Bank and State Bank of Mysore, they got good amount of pension arrears and already been credited to their account. I enquired with our Bank HO, and came to understand that we do not get any amount.  I am not clear about the point.  I think you will be the right person to give me the clear picture about it.

Kindly send me the mail or contact me

 Thanking you,

 Sharada S

Sharada Subramanya

Sir,

I propose that  Compulsorily Retired cases be explicitly stated in the agreement to be signed to avoid any confusion. Likewise, the cases of resignation/death/retirement on health ground/termination should also be included in the agreement.

 Asim Kumar Sen

 SIR,

    KINDLY EXPLAIN THE CALCULATION OF GRATUITY AND PENSION  OF AN EMPLOYEE AT THE TIME OF RETIREMENT.

  JOHN THOMAS

 Choodamani Krishna

 what about payment of pension arrears to pf optees of 2001? no arrears? can anyone answer my query?

Satnam Bhutani

 It is a great rumour in the banking & insurance industry that an old arreaer of 21 slabs is due to employees and some employees has won the case. Pl investigate this rumour is how much true..

I had opted for VRS in the year 2000. I did not opt for pension but took the entire PF amount. Could somebody guide me whether I would now qulify for pension as I am interested in opting for pension.  I joined the bank on 6th April 1982.

 I would be much obliged,

 Regards,

Lalitha Rajsekhar

Dear sir,

 It is yet not clear that officers who were given compusory retirement under some disciplinary action will be covered in this new pension option. As otherwiese Cumpulsory retirement does not debar an officer from pension eligibility.

 My case is compulsory retirement in Oct/Nov 1998 and my pension claim was rejected on the grond that my pension application was dated beyond the stipulated cut date and not that Comp Retirees are not eligible for pension.

 I was paid full benefit, PF+CPF, Gratuity and leave encashment.

 I would be highly greatful if the matter is clarified by a competent person.

 Tapan Mall

It is understood from the discussions that shortly you are going to enter into clearcut agreement with IBA with regard to Wage revision.  In this connection I would like to suggest the following three points for consideration to include in Wage revision agreement

  1. Enhancement of retirement age for Private Bank officers on par with Public Sector Banks.  In private Banks it is only 58 years.  In the agreement, a sentence is to be added as follows

  “Retirement age of Private Sector Banks should be on par with Public Sector Banks. Present age in Private Sector Banks is only 58 years whereas in Public   Sector Banks it is 60 years.  As such Retirement   age in Private sector Banks is to be enhanced on par with Public Sector Banks”

  2. LFC Guidelines -

a.. Sight seeing is not included in LFC Travel.  Sight seeing without any limit is to be added in LFC Travel

b. Halting allowance has to be paid for self and family members to the extent of employees eligibility during the period o LFC 

c.. LFC Privilege Encashment is 30 days in the block of 4 years.  Where as it should be modified as follows

  .Home travel policy 

.Other than Home travel policy

  For each Travel Privilege Leave can be encashed 30 days so that one can encash two months in the block of 4 years.  However it can be restricted for 30 days only for each travel.  In case if an officer avails only once in 4 years block period, he is entitled for 30 days only.  In case he avails two travels in a period of 4 years block period, he is entitled for two months PL Encashment

  3. Traveling allowance and Lodging ceiling limits are to be enhanced

Halting allowance may be enhanced substantially to the extent of Rs.800/- minimum in Urban category 

Lodging allowance may be ceiling may be enhanced substantially

  4. Where Bank has provided Bank apartments to Officers Maintenance amount may be introduced . according to Scale wise/Area wise like as follows per month

                                     Rural/Semi urban          URBAN                           Metro

  Scale 1                                     500/-                   1000                              1500/-

  Scale II                                    1000/-                  1500/-                           2000/-

  Scale III                                   2000/-                  3000/-                           4000/-

  The above amounts are to be paid  for all officers who are provided Bank owned apartments as they can not get enjoyment of enhanced HRA in the latest agreement

Dear Sir,

I am a retired Officer of a nationalised bank ( came under VRS 2000). At the time of retirement I opted for Pension and drawing Pension.My question here is 2. First one is "Even though I have opted for Pension at the time of retirement-Is it necessary that I have to share the Pension Corpus Fund?  Second when the arraers to us will be paid on account of Revision of wages in this settlement? Can anyone enlighten me over this points.

Thank you

Gurumurthy