This Monday MINI Musings = Sorting Shortfalls of 1616 1684

Re: Arrears Payment in respect of 1616-1684 

Re: Follow up Actions

 We request you to refer our letter no.2018/58 dated 16.06.2018 addressed to Indian Banks' Association requesting them to advise member banks to give proper and correct treatment in respect of commutation difference calculation while calculating arrears in the matter of 1616-1684 as per the Supreme Court decision. 

2. We are trying to meet IBA officials in near future to sort out this issue and persuade them to issue necessary guidelines to member banks in this regard. 

3. In the meantime we request our affiliates to take the following steps in this regard (a) Collect calculation sheets of a few members given by the bank and check what treatment has been given to commutation aspect. (b) If any bank has not given calculation sheets it may be insisted by the affiliates. (c) In case it is found that commutation aspect has not been taken in to consideration while calculating and paying arrears, suitable letter should be written by the concerned affiliates with copy to AIBRF. 

We understand that most of the banks have not paid arrears in respect of commutation. 

(d) Calculations in respect of other aspects may also be checked to ascertain their correctness and in case inaccuracy is noticed, the affiliate should immediately take up the relevant issue with the bank management for resolution. 

 With Warm Greetings, 

 Yours Sincerely, 

 ( S.C.JAIN) 

 GENERAL SECRETARY 

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IT IS ONLY IN  CANARA BANK,  ALL TYPES OF ELIGIBLE PENSIONERS PAID COMMUTATION AS WELL AS ARREARS,   ON ACCOUNT OF PRE-PAYMEMNT FOLLOW UP.

ALL INDIA CANARA BANK RETIREES' FEDERATION (Regd.)

(Affiliated to All India Bank Retirees' Federation)

To: All Affiliates, Office Bearers, Central Committee Members and

Recipients of Pension Arrears

Dear Sir/Madam,

Pension & Commutation Arrears with interest @ 9% credited

today (11.06.2018) to Family Pensioners and Ex-Employee

Pensioners who retired between 01.04.1998 and 30.04.2005 -

Vide Supreme Court Judgement dated 13.02.2018 on 50% Pay

as Pension as per Canara Bank (Employees) Pension Regulations

1995 (1616–1684 Index issue)

We are happy to inform you all that our Bank disbursed arrears of

Pension and differential amount of commutation today along with interest

@ 9% by crediting SB A/c of Pensioners concerned.

With pardonable pride, we can claim that our Bank has created record of

being the 1st bank amongst Public Sector Banks to pay Commutation

arrears with 9% interest to Family Pensioners & Ex-employee pensioners

who retired during the period from 01.04.1998 to 30.04.2005.

It is once again clarified that the following segments of pensioners are

eligible for  Arrears of Pension and differential Commutation along with 9% interest

in terms of the Supreme Court judgement dated 13.02.2018:

1. Pensioners retired during the period from 01-04-1998 to 31-10-2002;

2. Pensioners retired during the period from 01-11-2002 to 30-04-2005;

3. Family Pensioners whose spouse expired/retired between 01.04.1998 and

30.04.2005;

4. In respect of pensioners retired between 01.04.1998 and 30.04.2005

and where the pensioner is neither alive nor there is any other person eligible

for Family Pension, Legal Heirs of the deceased employee/pensioner/family pensioner

are entitled for arrears of pension. All our Office Bearers and Central

Committee Members are requested to ascertain contact details of such cases from our

elder retirees or serving employees in their respective places and to

suitably guide the Legal Heirs to submit claim to the Pension Fund/Bank in this

regard.