Circular no:80 Dt 02.06.2010 issued by AIBOC is reproduced for our readers
CIRCULAR NO: 80 Dt. 2nd JUNE, 2010
TO ALL AFFILIATES/MEMBERS:
GOVERNMENT’S APPROVAL FOR IMPLEMENTATION OF 9TH BIPARTITE RECEIVED IBA TO ISSUE DETAIL GUIDELINES
We are happy to inform all our members that, the Government has since cleared the proposal sent to them for the in principle clearance for the implementation of the 9th Bipartite Settlement reached between the Confederation and the IBA on 27.04.2010 pending amendment to the Service Regulations. We were receiving anxious enquiries from various parts of the country about the approval of the Government in particular when some of the banks have already implemented revised salary and allowances to the Award Staff. With this clearance, we are confident that the payment of the arrears of salary and allowances in respect of the Officers’ fraternity is also ensured at the earliest possible.
2. As regards the various formalities in relation to the 2nd Option on Pension, as well as the Notification etc., our members are requested to await further detailed instructions from the IBA.
3. In the meanwhile, all our affiliates are requested to follow-up with their respective bank’s managements and ensure that the arrears are paid at an early date.
With greetings,
(G.D.NADAF)
GENERAL SECRETARY
No./1452/171/10 02.06.2010
To,
The Chairman,
The Indian Banks’ Association,
World Trade Centre Complex,
Centre 1, 6th Floor, Cuffe Parade,
MUMBAI – 400 005.
Dear Sir,
2ND OPTION ON PENSION-FAMILY PENSIONERS
The current settlement on extension of 2nd option on Pension to all those employees serving as well as retirees, prescribes certain conditions. These conditions are applicable to the legal heirs of the deceased employees also, who will be eligible for the Family Pension as per the extant provisions of the Pension Regulations. The Pension Regulations do not provide for commutation of Pension by the Family Pensioners and further the rate of Pension payable to them is far less than the regular Pension. However, these employees are also required to make payment of PF balance received by them along with 56% of the balance thus placing a huge burden on them. They would find it extremely difficult to raise this money and also subsequently service such loans from the lesser Pension they would be getting. We therefore suggest that the IBA can come out with a special provision to provide them appropriate relief. Our views in this regard are:-
a) They may be exempted from the payment of the additional amount over and above the Provident Fund they have received to provide certain relief to them;
b) They may be notionally permitted to avail the commutation and the same may be treated as ex-gratia on humanitarian consideration and need not be recovered from the Family Pension as per the present provisions in the Pension Regulations;
c) Any other suggestions that may emerge during the course of meeting on the subject to provide necessary relief.
2. We therefore request you to kindly look into the matter and convene a meeting exclusively on the subject to resolve this vexatious issue.
3. Please treat the matter as urgent.
Thanking you,
Yours faithfully,
(G.D.NADAF)
GENERAL SECRETARY
CIRCULAR NO: 80 Dt. 2nd JUNE, 2010
TO ALL AFFILIATES/MEMBERS:
GOVERNMENT’S APPROVAL FOR IMPLEMENTATION OF 9TH BIPARTITE RECEIVED IBA TO ISSUE DETAIL GUIDELINES
We are happy to inform all our members that, the Government has since cleared the proposal sent to them for the in principle clearance for the implementation of the 9th Bipartite Settlement reached between the Confederation and the IBA on 27.04.2010 pending amendment to the Service Regulations. We were receiving anxious enquiries from various parts of the country about the approval of the Government in particular when some of the banks have already implemented revised salary and allowances to the Award Staff. With this clearance, we are confident that the payment of the arrears of salary and allowances in respect of the Officers’ fraternity is also ensured at the earliest possible.
2. As regards the various formalities in relation to the 2nd Option on Pension, as well as the Notification etc., our members are requested to await further detailed instructions from the IBA.
3. In the meanwhile, all our affiliates are requested to follow-up with their respective bank’s managements and ensure that the arrears are paid at an early date.
With greetings,
(G.D.NADAF)
GENERAL SECRETARY
No./1452/171/10 02.06.2010
To,
The Chairman,
The Indian Banks’ Association,
World Trade Centre Complex,
Centre 1, 6th Floor, Cuffe Parade,
MUMBAI – 400 005.
Dear Sir,
2ND OPTION ON PENSION-FAMILY PENSIONERS
The current settlement on extension of 2nd option on Pension to all those employees serving as well as retirees, prescribes certain conditions. These conditions are applicable to the legal heirs of the deceased employees also, who will be eligible for the Family Pension as per the extant provisions of the Pension Regulations. The Pension Regulations do not provide for commutation of Pension by the Family Pensioners and further the rate of Pension payable to them is far less than the regular Pension. However, these employees are also required to make payment of PF balance received by them along with 56% of the balance thus placing a huge burden on them. They would find it extremely difficult to raise this money and also subsequently service such loans from the lesser Pension they would be getting. We therefore suggest that the IBA can come out with a special provision to provide them appropriate relief. Our views in this regard are:-
a) They may be exempted from the payment of the additional amount over and above the Provident Fund they have received to provide certain relief to them;
b) They may be notionally permitted to avail the commutation and the same may be treated as ex-gratia on humanitarian consideration and need not be recovered from the Family Pension as per the present provisions in the Pension Regulations;
c) Any other suggestions that may emerge during the course of meeting on the subject to provide necessary relief.
2. We therefore request you to kindly look into the matter and convene a meeting exclusively on the subject to resolve this vexatious issue.
3. Please treat the matter as urgent.
Thanking you,
Yours faithfully,
(G.D.NADAF)
GENERAL SECRETARY
No comments:
Post a Comment