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
|
12,550 |
23,300 |
56,200 |