Pension Updation is the issue for 100% Bank Retirees and the core issue. As noted in yester Tuesday Tambola of Bank Retirees, AIBPARC which came in existence in 2012 with motto to fight and get PENSION UPDATION in the then Bipartite Settlement as "NOW OR NEVER" basis, not only ignominiously failed but got the obnoxious Joint Note signed with "Pension is a welfare measure only". ie., Pension treated alongwith welfare measures those possible only when banks in profits, in other words, it is not a statutory obligation though Pension Reguations are there.
In last 3rd March AIBRF Convention, Sri CH Venkatachalam categorically said Pension Updation is not possible in view of Banks' unhealthy position.
But Retd Assss. crammer of 3 lalkhs or 4 lakhs crores of Pension Funds and sufficient to meet Updation, 100% DA Family Pension improvement etc. etc.
But according to a prudent opinion put forth by a Retiree issues expert, whatever in Pension Funds is the amount provided to cover Pension Payments of existing retirees and future retirees till their end of life per year-on-year acturial valuations. ie., it is the Fund of Trusts created for ensuring Pensions under Pension Regulations. Even Banks become insolvent, the pensions ensured by creation of Trust Fund. If Pension Updation is to be accepted, about 45,000 crores to be immediately born by Banks that not possible in present situation.
Recently, some assns. started advising members to send letters to PM, FM etc. in wake of RBI Pension Updation, which apparently a futile and hungama exercise with no result. All know eventhough 100% DA and Family Pension Improvement implemented in RBI, not extended to Bank Retirees. That confirms the Govt or IBA attitude not to consider at any cost Pension Updation also for Banks though implementd in RBI.
Sure, it wont be considered in Bipartite also.
The only leftover channel is legal fight.
The Pension Updation case is already pending in Supreme Court, with very weak profile being dismissed against Retirees at single bench and full bench level in High Court. The lawyer for Retirees is a poor lawyer having no proven experience/success having office some 20 kms from supreme court at Faridabad. The Banks/Govt entrusted it to renowned lawyers of supreme court .
One Mr.Sidhu involved in that case is having emotional intelligence but no legal intelligence. The arguments or silence of lawyers in proceeedings of High Court Full Bench hearings were pathetic and dubious of integrity.
On enquiry with those Retiree Experts dealt with 1616-1684 case, that was silently successful, they opined the Pension Updation Case in court is not tenable and no proper stuff to get favourable.
In our circle, Sri K. Suryanarayana Murthy of IBRA AP& Telangana/AIIBPRA/AIBPARC, the wellknown defence representative for Bank Officers and Sri Katari Satyanarayna, now the wellknown figure on legal matters. LET US ALL APPEAL TO THEM TO SHED THE RESERVATIONS AND STUDY THE SUPREME COURT CASE AND GUIDE THE LAWYERS OF THE CASE FOR PENSION UPDATION AT THEIR BEST.
No problem, on studying, declare also about the tenability of the case unfavourably.
Few senior retirees opine that whatever getting is ok not to ask for updation in view of banks position.
supreme court case status as follows : 
= VBV Ramesh
SLP(C) No. 005561 / 2016 Registered on 22-02-2016
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| Status/Stage | Pending - (Motion Hearing [SERVICE/COMPLIANCE]-BEFORE REGISTRAR(J) / [ORDERS (INCOMPLETE MATTERS / List On (Date) (06-05-2019)-Ord dt:21-02-2019 |
Date : 21-02-2019 This petition was called on for hearing today. For Petitioner(s) Mr. Sunny Choudhary, AOR For Respondent(s) Mr.Rajesh Kumar-I,Adv. Mr.Anant Gautam,Adv. M/S. Mitter & Mitter Co., AOR Mr. Anuvrat Sharma, AOR Mr.P.K.Manohar,Adv. Mr.Sewa Ram,Adv. UPON hearing the counsel the Court made the following O R D E R : Ld.counsel for the petitioner has filed an application of substitution to bring on record the lrs. of deceased petitioner No.1, which is found to be defective. Four week’s time, is given to cure the defects. List the matter again on 06.05.2019. RAJESH KUMAR GOEL Registrar
| Petitioner(s) |
1 M.C. SINGLA . S/D/W/Thru:- SHRI BARU MAL
H.MO. 5138/2, MHC, MANIMAJRA , DISTRICT: CHANDIGARH , , PUNJAB
2 O.P.UMMAT S/D/W/Thru:- SHRI AMBA PRASAD
H.N.O. 161, SECTOR 21A , DISTRICT: CHANDIGARH , , HARYANA
3 K.C.NANDA S/D/W/Thru:- SHRI RAJINDER PAUL NANDA
H.NO. 6073, MODERN HOUSING BOARD COMPLEX, MANIMAJRA , DISTRICT: CHANDIGARH , , HARYANA
4 KARTAR SINGH RATHI S/D/W/Thru:- SHRI KASHI RAM
H.NO. 1342, SECTOR-22B , DISTRICT: CHANDIGARH , , HARYANA
5 D.P.WADHWA S/D/W/Thru:- SHRI KUSHI RAM
H.NO. 1201, PHASE 4, MOHALI , DISTRICT: CHANDIGARH , , HARYANA
6 O.P.KHURANA S/D/W/Thru:- SHRI L.D. KHURANA
H.NO. 509, SECTOR-38A , DISTRICT: CHANDIGARH , , HARYANA
7 ALL INDIAN PUNJAB NATIONAL BANK RETIRED OFFICERS ASSOCIATION (REGD.) JOINT SECRETARY
H.NO. 42, SECTOR 6,URBAN ESTATE , DISTRICT: KARNAL ,KARNAL , HARYANA |
| Respondent(s) |
1 UNION OF INDIA
SECRETARY TO GOVERNMENT OF INDIA NEW DELHI , DISTRICT: NEW DELHI ,NEW DELHI , DELHI
2 PUNJAB NATIONAL BANK CHAIRMANCUMMANAGING DIRECTOR
7, BHIKAJI CAMA PALACE , DISTRICT: NEW DELHI ,NEW DELHI , DELHI
3 INDIAN BANKS ASSOCIATION SECRETARY
6TH FLOOR, CENTRE 1 BUILDING WORLD TRADE CENTRE COMPLEX CUFFE PARADE , DISTRICT: MUMBAI ,MUMBAI , MAHARASHTRA
4 PUNJAB NATIONAL BANK GENERAL MANAGER
SECTOR-17B, ZONAL OFFICE , DISTRICT: CHANDIGARH , , HARYANA |
| Pet. Advocate(s) |
SUNNY CHOUDHARY
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| Resp. Advocate(s) |
MITTER & MITTER CO.
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| Impleaders Advocate(s) |
P. K. MANOHAR[IMPL]
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