ALL INDIA BANK RETIREES' FEDERATION (REGD.)
D/1/ Sector C Scheme No. 71 Indore 452009
E-Mail ID sharbat_123@rediffmail.com Mobile: 8966019488
Ref: 2021/ 552 01.08.2021
Office Bearers, Central Committee Members, State Committee Chiefs
A.I.B.R.F
Dear Comrades
Re: Question No. 216 raised by honorable M.P. (RAJYA SABHA) Dr. L. Hanumanthaiah
On Pension Updation in banks
As you are aware, AIBRF has been continuously and forcefully raising demand of updation of pension in banks for last several years. Under this, during the period of November, 20 to February, 21 AIBRF delegations submitted memorandum on updation to about 110 M.Ps. with the request to forward them to F.M. and raise the issue in the parliament.
2. In the above context, recently honorable Member of Parliament, Dr. L. Hanumanthaiah raised question in Rajya Sabha on 20.07.2021 on the issue of pension updation in banks. Details of the question raised and reply given by Honorable Minister of State for Finance, Dr. Bhagwat Karad are given below
3. On careful reading answer given by the Minister, you will find that there is perceptible and very positive change in the stand of the government on pension updation in banks. In this regard, your attention is invited on the following contents of the reply
It is stated in the reply "Retired bank employees have sought revision and improvement in pension from time to time." It indicates that the government has taken official notice of representations submitted by AIBRF and other retiree organisations from time to time. This was not used to be government stand while replying question on updation issue in the parliament. There is paradigm shift in the government stand on this issue towards positive side.
Further it is stated in the reply " In view of pension being funded scheme introduced on the basis consensus arrived between employee unions/ organisations and IBA, request for revision and improvement in pension are considered by the Government after taking the views or any proposal or recommendations of IBA in this regard" It may be noted from this reply which has been given first time indicating that the government is ready to consider pension revision in banks if proposal in this regard is sent by IBA. You will kindly agree that response of this sort from the government has come first time. It is clearly stated that government will consider updation proposal as and when received.
It is further stated in the reply "IBA has recommended that family pension be improved to 30% for all employees without any cap and the said recommendation is under consideration of the government."
4. As all of you are aware that in the past the government used to take very technical and legal stand in courts and official replies in the parliament on updation issue stating that there is no specific provisions in pension regulations and pension fund position in banks do not provide scope for updation.
5. But from the above reply, it seems that the government has revised it stands and is prepared to consider proposal of updation as and when proposal is received from IBA without raising technical issues like fund position or provisions in this regard in pension regulations.
6. We all should wholeheartedly welcome this reply. We should also all feel proud that because of various organisational action programs organized by AIBRF, very significant and important change we could bring in the approach of the government on this very important demand. We are confident that in coming days this long pending demand of retiree will be resolved with long term solution in the coming days.
7. This important contribution of our organisation should be brought to the notice of our grass root cadre explaining them about very important contribution of AIBRF towards its efforts to resolve the issue of updation.
With Regards
Yours Sincerely
( S.C. JAIN)
GENERAL SECRETARY
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