Demands of Pensioners.........(Part 3) Updation Updation is the MOST important demand of all the core demands of Pensioners in the 10th BPS. This is the MOST expected one by ALL the Pensioners! During 1993-95, Prejudice, bias, sentimental/sectarian allegiance, hatred and a super-strong propaganda against the Central Pension Scheme misled Lacs of Officers to reject the Scheme. The BIGGEST LOSS is that the basic pension of very senior bank pensioners retired in the 5th,6th& 7th BPS Periods are drawing much lesser than their counterparts in the Central Govt. A General Manager retired in the 5th BPS is now paid lesser than a Peon who retired in the 9th BPS. As PensionScheme1995 derives its principles,philosophy, strength and its sustainability from the Central Pension Rules 1972 & 1982, bankpensioners have the LEGITIMATE RIGHT to demand for improvements! 26th September can give a wonderful opportunity to the serving union Leaders of all hues to atone for the sins committed by them/their predecessors by scoring the Settlement on UPDATION. Every year thousands of the Super Senior Pensioners leave for their heavenly abode without seeing/enjoying the benefit of 100%Neutralization/Updation etc in their lifetime. Surely, their souls must be cursing those responsible for their ill-fated life! APPEAL to IBA: The cost of Updation involves about Rs1600-2000Crore per annum for all the PSBs. Whereas, all the PSBs write-off nearly Rs30000Cr every year! The argument that Banks declining trend affords no further improvement in Pension holds no water in the light of huge amount written off every year! The Pension Funds of respective Banks can take care of the cost of 100%/Updation/FP improvements etc..(Inflow Rs11919Cr Benefits paid Rs 9998Cr leaving a surplus of Rs1931Cr as can be seen in Table for the Year 31/3/14)
Posted on: Wed, 24 Sep 2014 05:35:38 +0000