Circular 1/2011 circular to all members Chennai 01 02 2011
D A for pensioners from feb2011:
D a from feb2011 to July2011, will go up by 61 slabs and
--for the retirees prior to NOV 2002 the amount will depend on the d R factor, mentioned in the individual pensioner’s pension order,
--For the pensioners from 1.11.2002, D A will go up by 10.98% of their basic pension
--For the pensioners from 1.11.2007, D A will go up by 9.15% of their basic pension
--The amount will range from Rs 100 to Rs 1500.
Another option for pension: In response to head office circular on another option for pension, we are informed that around 3000 retirees have applied and are waiting for communication from head office for payment. We understand that PENSION CELL has already started the process and around 100 orders have been despatched all over the country. In our zone two persons have received the order at their residential address and as well a copy to pension disbursing branch. We note that from the 156% to be paid to the bank, commutation amount as well as the arrears amount from 27/11/2009 to 31st dec2010 are to be deducted and the balance to be remitted at the pension opted branch. This reduces the burden on the pensioner substantially. Considering our FEDERATION”S request, for soft loan for new optee pensioners, Head office issued their circular for a one time “retiree personal loan” to the pensioners and family pensioners for paying the net amount subject to conditions. Please refer Circular CHO/Retail Banking/49/ 2009-10 Dated: 15. 01. 2011 for full details and conditions.
Revision of pension: Revision of pension due to 6th bipartite settlement with effect from 01/11/2007 has been taken up by HO and the revised orders are being sent to branches. Members are requested to bear the delay if any. Retirees will also receive gratuity revision and commutation difference as the case is. We request those members who are yet to get it, to send us the details of your PF NO, PENSION ORDER NO<date of retirement for taking up with HEAD OFFICE.
Banks welfare scheme: As per recommendations of the staff welfare committee, the bank has agreed to provide a onetime financial assistance to the retired employees for eye check up/ procuring spectacles, Rs 500/ only for the financial year 2010-11 subject to submission of bills/doctor prescription etc. The details are given in H O cir CHO/PMG/33/2010-11 dt 15th dec 2010. The retired staff has to submit the application as per proforma given in the said circular with relevant bills/receipts in original against Doctor’s fee/cost of spectacles and a copy of retirement letter/Pension Disbursement Order directly to Establishment & Staff Welfare Section, Human Resource Management Department, Head Office at 3&4 DD Block, Sector – 1, Salt Lake, Kolkata- 700064 who will be reimbursing Rs 500/ being the maximum by credit to your 14 digit CBS a/c directly. The application has to be submitted so as to reach head office latest by 28-feb-2011. The reimbursement will be done before 31/03/2011.APPLICATIONS RECEIVED AFTER 28/02/2011 WILL NOT BE ENTERTAINED BY HEADOFFFICE. In case members are not able get the application from the branches, can contact us so as to mail a copy to them.
Federation news: Our All India Ucobank Retirees Federation has taken lot of efforts in the matter of loan to new pension optees. However Federation is not happy about the rate at which the loan is given, viz, 10.5% compounded, when some banks like Bank of India which has sanctioned at BASE RATE 8.5% simple. Our leaders are meeting the chairman to request for reduction as well as discussion on other matters.
ALL INDIA BANK RETIREES FEDN (AIBRF): We are all aware that IBA and UFBU have entered into the Pension Settlement on dt. 27.04.10, agreeing to give one more option of pension to the existing employees as well as to past retirees (after29-9-95 and upto 26-4-2010). The settlement has not specifically stated that any section of retirees as ineligible. But to the surprise of many, IBA has advised member banks vide their letter dated10.08.2010, to extend pension option only to those who retired on superannuation and VRS 2001, and to exclude retirees under VRS (Under OSR) and compulsorily retired employees. This instruction of IBA to member banks is totally contrary to the terms and conditions of the settlement dated 27.04.10 and also against the Supreme Court Judgement given in 2000.
In this connection our Apex Organisation All India Bank Retirees’ Federation, vide their letter dated 11.01.2011 has written to the Honourable Finance Minister, Govt. of India, Shri Pranab Mukerjee, to interfere in the matter and render justice. AIBRF has also sought an appointment with the Finance Minister to sort out the differences. In the meantime, All India Canara Bank Retirees Federation has filed two writ petitions in the High Court of Madras, one on behalf of their employees, and another on behalf of other bank employees who are affected due to the direction of IBA. We shall keep members advised of developments from time to time.
Launching of Agitational Programme & submission of memorandum to different authorities: We are advised by our Apex organization AIBRF, that the two apex organizations for retirees, namely AIBRF AND RBONC, have jointly decided and drafted a memorandum to be submitted to different authorities on the following issues:
1. 100 percent D.A. neutralization to pre-2002 retirees.
2. Pension updation on the pattern of 6th Pay Commission.
3. Uniform Medical Scheme for retirees.
4. Two percent of bank profit should be allocated for Welfare of Bank retirees.
5. One more option of pension should be given to all past retirees who are originally eligible as per provisions of Pension Regulation 1995.
6. Differentiation between retirees and resignees should be removed for the purpose of pension option.
7. Establishment of proper grievance redressal mechanism for retirees in all banks at Corporate and Zonal level.
8. Index based dearness rates should be granted to retirees on quarterly basis along with serving employees instead of once in six month basis.
9. Improvement in Ex-gratia amount payable to Pre-1986 in view of steep rise in inflation.
AIBRF has also written to Shri C.H. Venkatachalam, Convener, UFBU, requesting to focus retirees’ issues in the proposed agitational programme to be launched by UFBU, and also assured participation of retirees in the agitational programmes.
Our strength: Our Association has further grown, with the joining of the following members during OCT-DEC2010.We extend a warm welcome to them.
Other matters: We request every member to get in touch with other retirees and appraise the position and impress upon them to become members of our association, which has grown leaps and bounds with present membership at 560. We feel that all retirees should become members of association so that with unity, the retirees’ movement will gain more strength and take up matters more vociferously with the management/government for betterment of condition of the retirees.
We also request all to remit the subscription Rs240 for this year (Jan to Dec 2011) along with arrears informed individually. With the substantial increase in D A from Feb2011, we are confident that members will respond and remit the subscription at the earliest.
P.S: Our bank has introduced a new deposit scheme “UCO DHAN VRIDDHI FIXED DEPOSIT SCHEME” ISSUED FOR A PERIOD OF 456 DAYS WITH INT 8.75% p.a (int compounded quarterly). Senior-citizen ex staff can get interest 10%p.a, interest compounded qly, with a minimum fresh deposit of Rs5000 and multiples of 1000 thereafter. Please contact nearby branches for further details. The scheme would be applicable from 17th January, 2011 and remain valid up to 15th March 2011. However, the Bank would reserve the right to modify, withdraw or extend the scheme anytime without any prior notice.