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UFBU SIGNS MINUTES WITH IBA
Date 27/11/2009 14:10  Author admin  Hits 3446  Language Global
CIRCULAR NO. 26/47/2009/42 27th November, 2009
TO ALL UNITS AND MEMBERS:

Dear Comrades,
  • CONGRATS & RED SALUTES
  • UFBU SIGNS MINUTES WITH IBA
  • ANNUAL WAGE INCREASE OF RS. 4816 CRORES FROM 1-11-2007
  • ONE MORE OPTION FOR PENSION ACHIEVED

WE DEDICATE THIS ACHIEVEMENT TO THE MEMORY OF
COM. PRABHAT KAR ON HIS 25TH DEATH ANNIVERSARY DAY

 

Yes, today, 27-11-2009, is the 25th death anniversary of our great leader and doyen of bank employees trade union movement, Com. Prabhat Kar. On this solemn day and during the centenary year of this father of our movement, we deem it a befitting commemoration and tribute to his life-long pioneering role in shaping up the service conditions of bank employees that the Minutes have been signed with the IBA on our wage revision demand and more importantly, securing another option for more than 3 lacs of employees/officers/retirees to get the benefit of our unique pension scheme.

Salient features:

a) Annual wage increase of Rs. 4816 ( Rs. 2239 crores for officers and Rs. 2576 crores for workmen employees ) w.e.f. 1-11-2007.

b) All the existing employees who are now in PF scheme will be given an option to join the existing pension scheme.

c) All those who have retired after the date of Pension Regulations till date will also be given an option to join the pension scheme.

d) Full settlement on the above to be finalized within 90 days.


Wage revision – what we have achieved:

 

7th BPS

8th BPS

NOW

Additional annual wage load

12.25 %

13.30 %

17.50 %

Total quantum of annual wage increase (Officers & Workmen)

1497 crores

2200 crores

4816 crores

 

Annual Average Per Capital Increase

  1. For Workmen employees
  2. For Officers

 

12,550
24,025

 

23,300
43,600

 

56,200
91,800


ONE MORE OPTION TO JOIN PENSION SCHEME – A UNIQUE ACHIEVEMENT:

In 1993, after bitter struggles and against all odds, AIBEA and AIBOA achieved pension scheme for bank employees. Today, once again, with the leading role of AIBEA and AIBOA, another milestone has been anchored. More than 3 lacs bank employees, officers and retirees will now get another option to join the pension scheme to insulate themselves with this unique social security benefit. It is a very commendable achievement indeed.

Dear comrades, with the signing of this Minutes, the main understandings have been reached. Now the UFBU will be taking steps to expedite the final settlement with revised pay scales, allowances and other improvements and thereafter for implementation of the same and payment of arrears to the employees.

Dear comrades, on this happy occasion, it is necessary to remind ourselves that these achievements were preceded by persistent efforts and protracted negotiations by the leadership of UFBU and backed up by the exemplary unity of the bank employees and officers and their successful participation in the strike actions. It is the result of our unity, militancy and perseverance.

OUR CONGRATULATIONS AND WARM GREETINGS TO ALL OUR UNITS AND MEMBERS.

Yours comradely,

(C. H. VENKATACHALAM)
GENERAL SECRETARY

 

 

murali
what about second pension option to resigned employees after serving for more than 20 years
07
Dec
arpit
i have worked for 19 years, am i still eligible for this if i did not opted for pension plan at the time of my vrs
is the criterio of pension has now been changed from 20 years to 15 years
07
Dec
R.S.Randhawa
The seniors will not be benefited proportionately as compared to freshers
27
Apr
P. P. PAHWA
IN THE SETTLEMENT, AIBEA HAS TAKEN CARE OF ALL THE PROSPECTS AND AREAS OF WORKING CLASS OF BANK EMPLOYEES. WHILE MOVING TOWARDS SUCCESS, STRUGGLE AND CONSTRAINTS ARE ALWAYS THERE. AIBEA DESERVES CONGRATULATIONS AND COMMENDATION FOR WHAT IT HAS ACHIEVED FOR THE BANK EMPLOYEES. BRAVO! MOVE FORWARD, WE HAD BEEN WITH AIBEA; AREA WITH AIBEA AND SHALL EVER REMAIN WITH AIBEA. PP PAHWA, UCO BANK, PANCHKULA BRANCH.
28
May
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