Tuesday, April 27, 2010

settlement details

dear members
pl. view the attached file


9th BP Settlement

Pension Settlement

Salient features of the Settlement

SETTLEMENT SIGNED TODAY 27.04.2010

INFORMATION RECEIVED TILL NOW. I.E. 6.00 P.M. 27.4.2010

9TH BIPARTITE SETTLEMENT SIGNED ALONGWITH PENSION SETTLEMENT. ONLY PF OPTEES
TO CONTRIBUTE FOR PENSION FUND GAP OF Rs.1800 CRORES.

EXISTING PENSION OPTEES NEED NOT CONTRIBUTE ANYTHING EXTRA.

PF OPTEES CONTRIBUTION TO BE 2.8 TIMES OF REVISED PAY AS OF 1ST NOV.2007.

NO OUTSOURCING CLAUSE

EXISTING DUTIES ONLY TO BE CONTINUED FOR SPECIAL ALLOWANCES.

FURTHER DETAILS WILL BE UPLOADED AS SOON AS WE RECEIVE







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Wednesday, April 14, 2010

PENSION ISSUE SORTED OUT

Another round of bipartite talks was held between IBA and UFBU constituents at Mumbai today. IBA was represented by Mr. Ramakrishnan, Chief Executive, Mr. Unnikrishnan, Dy. Chief Executive and Mr. M. Venugopalan, Officer on Special Duty. From UFBU, representatives of all the 9 Unions were present.

In today’s meeting, issues relating to settlement on pension option were taken up. The draft Settlement was discussed in details and finalized.

Regarding retirees, the formula for contribution of Rs. 934 crores ( 30% gap ) of the deficit after refund of the PF amount (Bank’s contribution), it has been decided that the retirees will contribute as under:

Refund of PF amount (Bank’s contribution) actually received at the time of retirement (no interest is payable on this amount)

Rs. X

Plus: 56 % on this amount of Rs. X

Rs. Y

Less: Commutation amount Receivable from the Bank

Rs. Z

Net Amount refundable to the Bank ( X + Y – Z )

Rs ……

Regarding existing employees / officers, out of the net gap of Rs. 6000 crores, Banks would contribute 70 % i.e. Rs. 4200 crores. For the balance of Rs. 1800 crores ( 30%) employees / officers would contribute as under: ( This will be a onetime contribution and would be recovered from the arrears.)

For existing employees/officers - 1.6 times of “ Pay ” payable for the month of November, 2007.

For employees who have joined the banks after
1st November, 2007 their contribution would be proportionately reduced.

Date of effect of pension option: IBA reiterated their stand that pension option would be effective from the date of the Settlement while we have explained our viewpoint that it should be w.e.f. 1-4-2008. Difference on this issue persists. UFBU decided to take steps to find a solution to this issue.

Improvements under Pension Scheme: We took up with IBA various improvements in the Pension scheme like periodical updation of pension along with wage revision for serving employees, 100 % DA to be paid to all pensioners, common indexation of pension, increase in commutable portion of pension, increase in Ex Gratia for Pre-1986 retirees/widows, higher pension for pensioners above the age of 80, etc. After discussion it has been decided to submit a memorandum on these issues to the IBA and the Government and to be pursued further.









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Friday, April 9, 2010

D.A. RATES FOR ARREAR CALCULATION

NOV 07 TO JAN.08 7.20 %
FEB 08 TO APR 08 8.25 %
MAY 08 TO JUL 08 9.45 %
AUG 08 TO OCT 08 12.60 %
NOV 08 TO JAN 09 17.40 %
FEB 09 TO APR 09 19.95 %
MAY 09 TO JUL 09 20.25 %
AUG 09 TO OCT 09 23.10 %
NOV 09 TO FEB 10 31.95 %
MAR 10 TO APR 10 36.75 %

PENSION OPTION

1. PENSION OPTION
IBA has agreed that another option will be given to join the pension scheme for the following:

a) those who are existing employees now and in PF
b) those who were in PF and in service on the date of Pension Regulations 1995/96 and now
want to opt for pension scheme
c) those who were in PF and in service on the date of Pension Regulations 1995/96 and retired
during this period but died subsequently (family will be given an option now)
d) those who were in PF and in service on the date of Pension Regulations 1995/96 and died
while in service during this period (family will be given an option now)
e) those who were in PF and in service on the date of Pension Regulations 1995/96 and have
taken voluntary retirement from service

2. SHARING THE DEFICIT:
Formula is being worked out both for the contribution by the retired employees opting for
pension now as well for the existing employees to contribute for the gap of Rs.1800 crores

3. PENSION OPTION - EFFECTIVE DATE
IBA has stated that pension option will be given to all the retired employees as mentioned in
1.a,b,c,d,e and will be effective from the date of settlement i.e. pension will be payable to the
retirees from the date of the pension option settlement. UFBU is pursuing the matter for
retrospective date.

4. PENSION FOR THE EXISTING PENSION OPTEES WHO HAVE RETIRED FROM
BANKS AFTER 1.11.2007

For all those employees who are already under pension scheme and who have retired from
the Bank service after 1.11.2007 their pension amount and commutation will be revised based on the 9th BPS pay, Arrears of wage revision will be paid to them from 1.11.2007 till
their date of retirement and arrears on account of increase in commutation and monthly pension will be paid from their date of retirement.

SPECIAL ALLOWANCES

POST
EXISTING SPL PAY
REVISED SPL PAY from 1.11.07 to 30.4.10
SPL PAY FROM 1.5.10
Out of which to be added into Basic Pay from 1.5.10
Balance payable as spl pay from 1.5.2010

substaff
cash peon 255 350 350 350 0
watchman 255..350 350.350.0
bill collector .430. 590. 590.350.240
armed guard 430 .590. 590 350.240
daftary. .....505..690..690..350.340
driver.. ..1320..1800.1800..350..450

clerks
CTO................910....1250..1500...1000...500
CAT E CASHIER.1300...1780..1780..1000..780
SPL ASST...1600.2180...2180.1000....1180


OTHER CLERKS NOT DRAWING ANY ALLOWANCE NOW to be made as SWO with
some passing powers.

Friday, February 26, 2010

BI PARTITE LATEST INFORMATION

UNDERSTANDING REACHED AS DETAILED BELOW:
Settlement is likely to be signed on 15th April. (One more round of discussion will be
there on 7th April 2010).

1. Basic Pay:
Sub-staff: Rs. 5500 – 200/4 – 6300 – 250/5, 7550 – 300/4, 8750 – 350/3, 9800- 400/3 – 11000.
Clerk: Rs. 6200 – 400/3, 7400 – 500/3, 8900 – 600/4, 11300 – 700/7, 16200 – 1300/1, 17500 – 800/1 – 18,300.

2. Stagnation Increment
Clerical : 7 stagnation increments (800 x 6 once in 3 years and 800 (7th) after 2 years)

Substaff: 7 stagnation increments (400 x 7 once in 2 years)

Extended payscalses (With Stagnation increments)
Clerical 6200-18000-23900
Substaff 5500-11000-13800



2. Dearness Allowance: 0.15% of pay per slab over 2836 points of index.

3. HRA: CCA is being clubbed with HRA.
- Places with 45 lacs and above : 10 %
- 12 – 45 lacs : 9 %
- 5 – 12 lacs : 7. 5 %
- Below 5 lacs : 7.00 %

5. Transport Allowance: Upto 15th stage Rs. 225 p.m.
16th Stage and above : Rs.275 p m

6. Special Pay

For Nov.2007 to Apr 2010 Existing Special Pay will be revised and arrears paid for both clerks and substaff.

From May 2010 For clerks:

Present no. special pay holders : Rs.1000/-
Present Spl. Pay holders : Rs.1500/-
Head Cashiers Rs.1780/-
Special Assistant : Rs.2180/-

Out of this Rs.1000/- will be added to Basic Pay and balance will continue as Special Pay.

From May 2010 For Substaff:

Present No special pay holders Rs.350/-
Present Special Pay holders Revised Spl. Pay

Out of this Rs. 350 will be added to Basic pay and balance will continue as Special Pay.

7. Fixed Personal Pay & PQP
will be revised based on new basi pay

8. Hill and Fuel Allowance:
a) Places 3000 metres and above 8 % max. Rs.1295/-
b) 1500 - 3000 metres 4 % max. Rs.510/-
c) Over 1000 metres + Mercara 3 % max Rs.410/-

9. Medical Aid: Proposed at Rs. 2000 per year.

10. Hospitalisation: Being improved will revised schedule.

11. Part Time Employees: ( lump sum )
Nov.2007 to Apr 2010
Upto 3 hours per week Rs.1030
3 to 6 hours per week Rs.1440

From May 2010 all will be brought to 1/3rd scale wages.

12. Halting Allowance : Being increased

13. Washing Allowance: Will be increased to Rs. 100 p.m.

14. Cycle Allowance: Will be increased to Rs. 75 p.m.

15. Split duty allowance : Rs.125 per month

16. Project Area Compensatory Allowance:
Group A centres / Group B centres
Clerks Rs.205 p.m./ Rs.180 p.m.
Substaff Rs.180 p.m./Rs.150 p.m.

17. Special Area Allowance: being revised

18. Reimbursement in Road Travel:
Actual road mileage cost or Rs.3 per km whichever is less.

19. Pension:
Another option will be given to all existing exmployees and those
who have retired/died after pension regulation 1995/1996.

20. Gratuity:
Will be payable on revised basic pay from 1.11.2007

21. Provident Fund : 10 % Pay from 1.11.2007

22. Definition of dependency under family:
Upto monthly income of Rs. 3500 p.m.

23. Breakage Allowance on transportation of personal effects:
Being increased to: (with receipt). Clerks Rs. 1120; sub-staff: Rs. 745 (Without receipt) Clerks: Rs. 745; Sub-staff: Rs. 560.

24. Special Leave for women employees: Within the entitlement of Maternity Leave, Special Leave upto maximum of 45 days will be granted for undergoing Hysterectomy operation.

25. Effective Date: 1st Nov.2007

Improvement in LFC

Entitlement:
For Clerks AC 2 Tier (Distance 2000 km/2 yr block, 4000 km/4 yr block)
Substaff AC 3 Tier (Distance 2500 km/2 yr block, 5000 km/4 yr block)