FULL DR to BANK PENSIONERS HC FAVOURABLE JUDGEMENTS --A BOON TO US INSCE PENSIONERS TOO

 

Dear Sir:

 

Herewith I give a text of a Post on an Important Subject of DA for Bank Pensioners:

 

100% DA to pre 2002 retirees

mohan p Jun 8 at 9:13 PM
To 
Pensoners,Dear Friends,
1.Our demand for extending 100% DA is based on the following aspects.
1. The Pensioners those who retired under 5th,6th and 7th BPS/JN are being paid dearness allowance on tapered formula at different slab rates on their basic pension depending upon the settlement prevailing at the time of his/her retirement.( The merger points were 600/1148/1684 points under above BPS/JN)
2.The 8th BPS/JN signed on 2nd June 2005,made significant change in the calculation of DA on pension too. With effect from 1.5.2005 DA was given at uniform rate at 0.18% per slab with 100% DA neutralisation.
3.As a result those who retired between 1st November 2002 and 30th April 2005 pension was revised w.e.f 1st May 2005 .
4.The above benefit was not extended to pensioners those who retired prior to 1st November 2002,there by creating two class of pensioners. a) Those who are drawing DA at 100% neutralization and b)others drawing DA at lesser percentage .In nut shell, two cases of pensioners thus came into existence - pre Nov 2002 and post Nov 2002 pensioners. as we describe now)
5.Soundness of Pension Fund or 'cost factor' is not the
prime aspect here or relevant one.
6. On legal front, this position was challenged by A.B.Kasturirangan and others in High Court of Madras against Canara Bank,Bank of Baroda and Indian overseas Bank which was decreed in favour of pensioners
on 14.12.2012 under WP 50000-50002 of 2006.
7.This single bench verdict was challenged by Banks before Division Bench of Madras High Court which was set aside the order of single bench and dismissed the appeal on 17.6.2013.
8.Further Appeal made by petitioners A B Kasturirangan & Ors -CA 8420/2013 is now pending before Hon Apex court which is likely to be listed on 29th June '16 as per SC.
9.Meanwhile there was another favourable Judgment from Kolkatta High Court under WP 507/2012 in United Bank of India Welfare Association VS United Bank of India on 100% DA,on 4th March 2015.Bank has filed appeal in this case and is pending now.
This is where 100% DA issue stands now.
So either a favourable court verdict or a bilateral discussion and resolution of above issue with IBA is the only way out.
Let us wait and wish for early positive outcome.

 

With regards

 

VK BHASIN

CHAIRMAN

GIC PENSIONERS GROUP (FACEBOOK)