DEMAND FOR 100%NEUTRALISATION TO PRE 01.11.2002 RETIRED PENSIONERS

Dearness Relief to pensioners who retired on or after 1st day of April,1998.

BASIC PENSION Dearness relief for the months Slabs
August 209 to January 2010 442
Average Index 3454
(i) Upto Rs.3550
106.08 per cent.

(ii) Rs.3551 to Rs.5650 Rs. 3765.84 plus 88.4 percent
of basic pension in excess of Rs.3550.00

(iii) Rs.5651 to Rs.6010 Rs. 5622.24 plus 53.04 percent
of basic pension in excess of Rs.5650.00

(iv) Above Rs.6010 Rs. 5813.18 plus 26.52 percent
of basic pension in excess of Rs.6010.00
Dearness Relief to pensioners who retired on or after 1st day of November, 2002.

Average Index (CPI) for quarter ended June 2009 3454
No. of Slabs 291
Rate of dearness relief on pension for the months August 2009 to January 2010 52.38% of basic pension

NB IF F ULL NEUTARLISATION MEANS 106.08 PERCENT FOR THE ENTIRE BASIC PENSION. FOR A BASIC PENSION OF 7000 (VII TH BIPARTITE SETTLEMENT)=7000*106.08=7420 DA
THE DIFFERENCE WILL BE APPROXIMATELY360+175+740=1275 SUBJECT TO CALCULATION ERROR

(5650-3551)*(106.8-88.4)% +(6010-5651)*(106.08-53.04)%+(7000-6010)*(101.08-26.52)
SIMILAR CALCULATIONS WERE THERE FOR VI VT TH BIPARTITTE ALSO WITH THE CORRESPONDING BASIC PENSION WITH THE THEN TAPPERED DA FORMULA.
ONE HUNDERED PERCENT DA NEUTRALISATION TO BANK EMPLOYEES WAS ALLOWED ONLY IN THE PRESENT SETTLEMENT WITH EFFECT FROM 01.11.2002 BUT WITH MONETEARY BENEFIT FROM 01.05.2005. NOW ALL BANK EMPLOYEES INCLUDING THE PENSIONERE RETIRED ON OR AFTER 01.11.2002 ARE ENJOYING FULL NEUTRALISATION. THE SAME SHOULD HAVE BEEN CONSIDERED FOR PRE 01.11.2002 RETIREES ALSO AT THAT TIME ITSELF. THESE ARE SOME OF THE GLARING EXAMPLES WHERE UFBU FAILED TO PRESS IBA FOR THE CORRECT THINGS TO BE DONE AT CORRECT TIME. HAD THE PENSION ISSUE WAS TAKEN SEPARATELY DURING 2008 ITSELF , THE MATTER WOULD HAVE SETTLED. SBI ALSO WOULD NOT HAVE PROTESTED MUCH . LINKING WITH WAGE REVISION AND COSTING OF PENSION ONLY LED THEM INTO GREAT TROUBLE.


LATER RETIRED OFFICERS ASSOCIATION HAD A REPRESENTATION WITH YTHE PARLIAMENTARY COMMITTEE COMPRISING OF MPS ATTACHED TO BANKING DIVISION AND THEY ALSO AGRRED TO CONSIDER THE AMTTER AND ALSO HAD A MEETING WITH IBA IN THIS REGARD. HENCE THERE MAY NOT BE MUCH DIFFICULTY FOR UFBU IN GETTING THE NEUTRALISATION AND RECTIFYING THE ANOMALY PREVAILING.


K BALASUBRAMANIAN