Journey and Mission of Pension Updation
Dear All
The journey of Pension Updation commenced in the year 2007 and a write up of Our Efforts in this direction is given below:
Mr.K.V.Acharya after settling down at Gurugram after His retirement called us to find out the correspondence relating to Pension Updation. We looked upon the Library of IOBOA and could lay our hands on a book published by Late Com.R.N.Godbole about pension scheme in banks. In that book there was a letter from IBA to Him stating that the pension scheme in banks is in line with RBI Pension Scheme and Central Govt.Pension Scheme. Taking a cue from it we launched our mission of Pension Updation .ARISE took upon itself the big task of mission of pension updation. We after threadbare discussions among ourselves decided to file a case in Delhi High Court through our members and (later on we impleaded) on 100% D.A.Neutralisation to pre November 2002 retirees, Different index merger for reckoning Basic Pension(1616-1684 points) and Pension Updation. This case is still pending in Delhi High Court.
You all know that 100% d.a.Neutralisation for pre November 2002 Retirees got resolved prospectively after meeting Finance Minister by AIBPARC Team.
Likewise the anomaly of basic pay fixation at 1616 points instead of 1684 points in 1998 settlement got corrected in the next wage revision (8TH Bipartite settlement) prospectively with effect from June 2005.Later on Hon’ble Supreme Court delivered the judgement on 18ht February 2018 in respect of this anamoly and many of the retirees who retired on Superannuation as well who took Special VRS got the arrears from their date of retirement. In the meantime an SLP was filed in Supreme Court by Late M.C.Singla and others.
Having seized of the matter we from ARISE took a conscious decision to implead ourselves in the case and our Representative Mr.D.K.Hans was authorized to sign necessary papers on behalf of Us.
We also continued our journey of pension updation. AIBPARC was founded in 2012 . We took upon this cause through this organization by holding Dharnas in Jantar Mantar many times as well in State capitals to popularize and as well create an awareness among our own Retiree comrades bringing out the disparities and our right to Pension Updation.
While drafting reply to to IBA’S affidavit to our plaint in Delhi High Court case Mr.S.B.C.Karunakaran found out that a big change has taken place and Regulation 35(1) was amended in 2003. Here lies the catch and we started changing our stand to implement Regulation 35(1). We were looking out for the avenues available to us. Luckily Pension Updation was implemented to RBI Employees.
Mr.K.Chandrasekaran Of Indian Bank(State Secretary of AIBPARC) Could get the inputs of the methods adopted by RBI for pension updation. Then from the formula adopted by them we worked out our method of calculation in line with that of RBI method and for various Bipartite Settlements and Joint notes and the cost was found out. Here it is pertinent to mention that after seeing our calculations so many people adopting our method singing our tune. ARISE is the First Organisation to bring out the facts of method as well the cost which is unchallenged till date.
The Supreme Court proceedings were prolonging dates after dates. But the efforts put in by our Team in Delhi headed by Com.J.D.Sharma,Com.D.K.Hans and ComT.R.Subramanian has no parallel in the Retirees movement .KUDOS TO THEM. The entire cost of Court Expenses of Pension Updation was borne by ARISE (YOUR ORGANIZATION )
Mr. Sewaram, advocate, hugely associated with us incompilation of documents as well arguing effectively in the Supreme Court. We sincerely thank him.
October 15 th is a RED LATTER DAY for Bank Retirees and Pensioners as the case in Supreme Court hearing is concluded and the Counsels are asked to to submit their written brief in 2 weeks time. Let us Hope and pray that the verdict will be in our favour.
Published by ARISE CENTRAL UNIT TEAM
