The 7th Pay Commission has recommended an increase of about 24 per cent in the pay package of central government employees and pensioners. I am sure the government will accept the recommendations and implement the pay increase.
However, I wonder why the government and the Indian Banks' Association (IBA) are shy about accepting the same demand from bank pensioners. It is surprising that during the signing of the 10th bipartite settlement with thestaff unions of banks, the IBA mentioned that "as banks do not have any contractual liability towards the pensioners, the demand for revision of pension along with salary revision cannot be accepted". Why then are the pensions of government employees considered for revision?
A moot point here is that the government is ready to shoulder the additional financial burden on account of the pension revision out of the revenue income, whereas banks are required to meet this liability from their profits from commercial operations. Current bank pensionershave played a pivotal role in taking the banks to the present level. Is it too much to expect if part of the banks' annual profits is kept aside for periodic revision of their pension? In line with the agitation by ex-servicemen for 'one rank, one pension', bank pensioners should start a similar stir if the government and the IBA do not accede to their demand.
However, I wonder why the government and the Indian Banks' Association (IBA) are shy about accepting the same demand from bank pensioners. It is surprising that during the signing of the 10th bipartite settlement with thestaff unions of banks, the IBA mentioned that "as banks do not have any contractual liability towards the pensioners, the demand for revision of pension along with salary revision cannot be accepted". Why then are the pensions of government employees considered for revision?
A moot point here is that the government is ready to shoulder the additional financial burden on account of the pension revision out of the revenue income, whereas banks are required to meet this liability from their profits from commercial operations. Current bank pensionershave played a pivotal role in taking the banks to the present level. Is it too much to expect if part of the banks' annual profits is kept aside for periodic revision of their pension? In line with the agitation by ex-servicemen for 'one rank, one pension', bank pensioners should start a similar stir if the government and the IBA do not accede to their demand.
B C U Nair Alappuzha
Regards,
E.R.Iyer
