" Dignity of Bank Retirees..? "

Presently resolution of two major  issues concerning most of the bank retirees is not in sight , despite all out  efforts of the various bank retirees organizations.

1. 100% DA Neutralization for pre Nov’2002 retirees.
2. Pension updation along with periodic salary revision of the serving bank employees.

So far either of the following two routes for resolution of the bank retirees issues are available.

1. Negotiated settlement with the management of the banks through IBA. Here IBA is not ready  to talk with bank retirees organizations, under the plea, that it (IBA) does not have mandate to talk on pensioners issues, though every Bipartite Settlement (after signing of agreement for pension in 1993), is having a clause which  affects the bank pensioners. Secondly, as pensioners are not a party to negotiated settlements, issues of pensioners gets  sacrificed , in order to secure a better deal for the serving employees.

2. Through the intervention of the courts. This route is a very lengthy process. It usually takes  5 - 10 years, before the issues are finally adjudicated in the Supreme Court of India. Though many issues such as 5 years notional service for EVRS pensioners, 1616-1684 pension revision for pre Nov’2002 pensioners, pension for CRS and  revision of pension for technical officers etc. have been got resolved through court intervention, this process has it’s own pitfalls, which have been highlighted in the recent case of 100% DA Neutralization case, which the pensioners lost in SCI.

A third untested democratic route for resolution of the issues of bank retirees can be tried i.e. amendment of Pension Regulations through Private Member's Bill, in parliament. For this route retirees will have to create an organizational structure to systematically deal the various aspects involved.

1. Drafting of proposed bill for amendment of the Pension Regulations .

2. Identifying & convincing a Member of Parliament to move the concerned Private Member’s Bill in either house of the Parliament. Provide all legal support and inputs to the concerned MP, required for discussion in the Parliament , through various stages of introduction & passage of the bill. Identifying & convincing other MP’s of all political parties to support the bill in the Parliament, during discussion for passage of the bill.

3. Consolidating all the inputs , legal aspects etc in the booklet form for distribution amongst  all the MP’s.

4. Create a watchdog body for keeping watch on tabling of amendments to pension regulations in either of  the house of the parliament under section 19(4) of  BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT,1970, and to take suitable action , with the help of friendly MP’s, for dropping of un-favourable amendments to the pension regulations. A continuous liaison with the friendly  MP’s is must.

5. Commit full active political support of bank retirees for the MP’s / political party , instrumental in resolution of the above major two issues of the bank retirees.

6. Create separate fund for expenses of legal support, out of pocket expenses etc towards the cause.