Good news for retired pensioners from public sector banks. All bank employees who retired before November 1 last year will now get the benefit of more pension. In the first meeting between the bank management and the unions, it has been agreed to increase the pension on the basis of 100 percent DA. This will benefit more than 2 lakh pensioners and family pensioners.
In this decision, it has been agreed to increase the pension on the basis of uniform 100% DA neutralization to the bank employees who have retired before 1 November 2002. After this decision, there will be a monthly increase in pension from about Rs 800 to Rs 16 thousand.
What is the situation now?
So far, all bank employees retired till 31 October 2002 get pension, DA on the basis of tapering percentage formula and slab system, while bank employees retiring on 1 November 2002 and thereafter get the benefit of 100% neutralization in DA on uniform basis.
Now in the bipartite meeting held between Indian Banks Association and United Forum and Bank Unions in Mumbai on Friday, it was agreed that the benefit of 100% DA will also be given to the bankers who retired before November 1, 2002.
This committee was also considering the demands of 5 days work and 2 days leave in banks and affordable health insurance. In the meeting, the Indian Banks’ Association has expressed hope that all other pending issues will be decided within the next four months.
