Wednesday, October 11, 2017

STATE BANK OF INDIA Gazette NOTIFICATION

STATE BANK OF INDIA
 Gazette NOTIFICATION
Mumbai, the 4th October, 2017
No. BOD&GO/VKK/470.—In exercise of the powers conferred by sub-section (1) read with clause (o) of sub￾section (2) of section 50 of the State Bank of India Act, 1955 (23 of 1955), the Central Board of the State Bank of India,
after consultation with the Reserve Bank and with the previous sanction of the Central Government, hereby makes the
following regulations to amend the State Bank of India Employees’ Pension Fund Regulations, 2014, namely:—
1. (1) These regulations may be called the State Bank of India Employees’ Pension Fund (Amendment) Regulations,
2017.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the State Bank of India Employees’ Pension Fund Regulations, 2014, in regulation 23, —
(A) in sub-regulation (2), for the provisos, the following provisos shall be substituted, namely:—
“Provided that the maximum amount of pension shall be increased for the members who retired on or after the
1st November,1987, from rupees two thousand four hundred per month to rupees three thousand seven hundred seventy￾five per month (pro-rata in the case of part-time employees):
 Provided further that the maximum amount of pension shall be increased for the members who retired or retire on
or after the 1st November, 1992 (Award Staff) or the 1st July, 1993 (Supervising Staff) from rupees two thousand four
hundred per month to rupees four thousand two hundred fifty per month (pro-rata in the case of part-time employees)
after adjustment of dearness allowance on the basic pay up to 1148 points in the quarterly average of the All India
Working Class Consumer Price Index (General) Base 1960=100:
 Provided also that with effect from the 1st March, 1999 the maximum amount of pension for the members
who retired or retire drawing substantive salary in the Pay Scales effective from the 1st November, 1992 (Award
Staff) or the 1st July, 1993 (Supervising Staff) and thereafter shall be computed till further amendments in this
regard, as under―
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees eight thousand five hundred per month, fifty per cent. of the average of monthly substantive salary drawn during
the last twelve months’ pensionable service (pro-rata in the case of part-time employees); and
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees eight thousand five hundred per month, forty per cent of the average of monthly substantive salary drawn during�

6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
the last twelve months’ pensionable service subject to minimum of rupees four thousand two hundred fifty (pro-rata in
the case of part-time employees):
Provided also that with effect from the 1st November, 1997 (Award Staff) or the 1st April, 1998 (Supervising
Staff), the maximum amount of pension for the members who retired or retire drawing substantive salary in the Pay
Scales effective from the 1st November, 1997 (Award Staff) or the 1st April, 1998 (Supervising Staff) shall be computed,
by arriving at the corresponding stage by dividing the average basic pay by 1684 and multiplying it by 1616, till further
amendments in this regard, as under—
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees thirteen thousand six hundred sixty-six per month, fifty per cent. of the average of monthly substantive salary
drawn during the last twelve months’ pensionable service (pro-rata in the case of part-time employees); and
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees thirteen thousand six hundred sixty-six per month, forty per cent of the average of monthly substantive salary
drawn during the last twelve months’ pensionable service subject to minimum of rupees six thousand eight hundred
thirty-three (pro-rata in the case of part-time employees):
Provided also that with effect from the 1st May, 2005, the maximum amount of pension for the members who retired
or retire drawing substantive salary in the Pay Scales effective from the 1st November, 1997 (Award Staff) or the
1
st April, 1998 (Supervising Staff) shall be computed, as under—
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees fourteen thousand two hundred forty per month, fifty per cent. of the average of monthly substantive salary drawn
during the last twelve months’ pensionable service (pro-rata in the case of part-time employees); and
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees fourteen thousand two hundred forty per month, forty per cent of the average of monthly substantive salary drawn
during the last twelve months’ pensionable service subject to minimum of rupees seven thousand one hundred twenty
(pro-rata in the case of part-time employees):
Provided also that with effect from the 1st May, 2005, the maximum amount of pension for the members who
retired or retire drawing substantive salary in the Pay Scales effective from the 1st November, 2002 shall be computed till
further amendments in this regard, as under—
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees twenty-one thousand forty plus Professional Qualification Pay plus Fixed Personal Pay per month, fifty per cent
of the average of monthly substantive salary drawn during the last twelve months’ pensionable service (pro-rata in the
case of part-time employees); and
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees twenty one thousand forty plus Professional Qualification Pay plus Fixed Personal Pay per month, forty per cent
of the average of monthly substantive salary drawn during the last twelve months’ pensionable service subject to
minimum of rupees ten thousand five hundred twenty plus half of Professional Qualification Pay plus half of Fixed
Personal Pay wherever applicable (pro-rata in the case of part-time employees):
Provided also that with effect from the 1st November, 2007, the maximum amount of pension for the members
who retired or retire drawing substantive salary in the pay scales effective from the 1st November, 2007 shall be
computed till further amendments in this regard, as under―
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees thirty-one thousand five hundred per month, at fifty per cent. of the average of monthly substantive salary drawn
during the last twelve months’ pensionable service plus half of Professional Qualification Pay plus half of increment
component of Fixed Personal Pay, wherever applicable (pro-rata in the case of part-time employees);
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees thirty-one thousand five hundred per month, at forty per cent. of the average of monthly substantive salary drawn
during the last twelve months’ pensionable service subject to minimum of rupees fifteen thousand seven hundred fifty
plus half of Professional Qualification Pay plus half of increment component of Fixed Personal Pay, wherever applicable
(pro-rata in the case of part-time employees)�¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 7
Provided also that with effect from the 1st November, 2012, the maximum amount of pension for the members
who retired or retire drawing substantive salary in the Pay Scales effective from the 1st November, 2012 shall be
computed till further amendments in this regard, as under—
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees fifty-one thousand four hundred ninety per month, fifty per cent. of the average of monthly substantive salary
drawn during the last twelve months’ pensionable service plus half of Professional Qualification Pay plus half of
increment component of Fixed Personal Pay, wherever applicable (pro-rata in the case of part-time employees);
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees fifty-one thousand four hundred ninety per month, forty per cent. of the average of monthly substantive salary
drawn during the last twelve months’ pensionable service subject to minimum of rupees twenty-five thousand seven
hundred forty-five plus half of Professional Qualification Pay plus half of increment component of Fixed Personal
Pay, wherever applicable (pro-rata in the case of part-time employees).”;
(B) in sub-regulation (9), in clause (a), for the words and figures “In the case of members who ceased to be in the
Bank’s pensionable service from the 1st November 1987 to the 31st October 1993”, the following words, figures and
brackets “In the case of members who ceased to be in Bank’s pensionable service from the 1st November 1987 to the
31st October 1992 (Award Staff) or the 30th June, 1993 (Supervising Staff)” shall be substituted;
(C) in sub-regulation (10), in clause (a), for the words and figures “In the case of members who retire from the
Bank’s service on or after 1st November 1993”, the following words, figures and brackets “In the case of members
who retire from the Bank’s service on or after the 1st November 1992 (Award Staff) or the 1st July, 1993 (Supervising
Staff)” shall be substituted;
(D) for sub-regulation (12), the following shall be substituted, namely: —
“(12) (i) The Dearness relief shall be allowed on full basic pension even after commutation.
(ii)(a) in respect of employees who retired or retire on or after 1st November, 1997 (Award Staff) or the 1st April,
1998 (Supervising Staff), dearness relief shall be payable for every rise or be recoverable for every fall, as the case
may be, of every 4 points over 1616 points in the quarterly average of the All India Average Consumer Price
Index for Industrial Workers in the series 1960=100;
(b) such increase or decrease in dearness relief for every aforesaid four points shall be calculated in the manner
given below: -
Sl.No. Scale of basic pension per
month
The rate of dearness relief as a percentage of basic pension
(1) (2) (3)
(i) up to Rs.3380 0.25 per cent.
(ii) Rs.3381 to Rs.5420 0.25 per cent of Rs.3380 plus 0.21 per cent of the basic pension in
excess of Rs.3380
(iii) Rs.5421 to Rs.5770 0.25 per cent of Rs. 3380 plus 0.21 per cent of the difference
between Rs.5420 and Rs.3380 plus 0.12 per cent of basic pension in
excess of Rs.5420
(iv) above Rs.5770 0.25 per cent of Rs.3380 plus 0.21 per cent of the difference
between Rs.5420 and Rs.3380 plus 0.12 per cent of the difference
between Rs.5420 and Rs.5770 plus 0.06 per cent of basic pension in
excess of Rs.5770
(iii)(a) on and from the 1st May, 2005, in respect of employees who retired or retire on or after the 1st November,
1997 (Award Staff) or the 1st April, 1998 (Supervising Staff), dearness relief shall be payable for every rise or be
recoverable for every fall, as the case may be, of every 4 points over 1684 points in the quarterly average of
the All India Average Consumer Price Index for Industrial Workers in the series 1960=100;
(b) such increase or decrease in dearness relief for every aforesaid four points shall be calculated in the
manner given below� THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
Sl.No. Scale of basic pension per
month
The rate of dearness relief as a percentage of basic pension
(1) (2) (3)
(i) up to Rs.3550 0.24 per cent.
(ii) Rs.3551 to Rs.5650 0.24 per cent of Rs.3550 plus 0.20 per cent of the basic pension in excess
of Rs.3550
(iii) Rs.5651 to Rs.6010 0.24 per cent of Rs. 3550 plus 0.20 per cent of the difference between
Rs.5650 and Rs.3550 plus 0.12 per cent of basic pension in excess of
Rs.5650
(iv) above Rs.6010 0.24 per cent of Rs.3550 plus 0.20 per cent of the difference between
Rs.5650 and Rs.3550 plus 0.12 per cent of the difference between
Rs.6010 and Rs.5650 plus 0.06 per cent of basic pension in excess of
Rs.6010.”;
(E) for sub-regulation (15), the following shall be substituted, namely: —
“(15)(i) In respect of employees who retired or retire on or after the 1st November, 2007, dearness relief on pension shall
be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 2836 points in the
quarterly average of the All India Average Working Class Consumer Price Index (General) Base 1960=100 at 0.15 per
cent of the basic pension;
(ii) In respect of employees who retired or retire on or after 1st November, 2012, dearness relief on pension shall be
payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 4440 points in the
quarterly average of the All India Average Working Class Consumer Price Index (General) Base 1960=100 at 0.10 per
cent of the basic pension.”.
R. JAYARAMAN, Chief General Manager (HR)
[ADVT.-III/4/Exty./250/17]
Note : The principal regulations were published in the Gazette of India, Extraordinary, Part III, Section 4 dated the
18th September, 2014 vide F.No. CDO/PM/16/ SPL/1136 dated the 15th September, 2014.

Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 �STATE BANK OF INDIA
 Gazette NOTIFICATION
Mumbai, the 4th October, 2017
No. BOD&GO/VKK/470.—In exercise of the powers conferred by sub-section (1) read with clause (o) of sub￾section (2) of section 50 of the State Bank of India Act, 1955 (23 of 1955), the Central Board of the State Bank of India,
after consultation with the Reserve Bank and with the previous sanction of the Central Government, hereby makes the
following regulations to amend the State Bank of India Employees’ Pension Fund Regulations, 2014, namely:—
1. (1) These regulations may be called the State Bank of India Employees’ Pension Fund (Amendment) Regulations,
2017.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the State Bank of India Employees’ Pension Fund Regulations, 2014, in regulation 23, —
(A) in sub-regulation (2), for the provisos, the following provisos shall be substituted, namely:—
“Provided that the maximum amount of pension shall be increased for the members who retired on or after the
1st November,1987, from rupees two thousand four hundred per month to rupees three thousand seven hundred seventy￾five per month (pro-rata in the case of part-time employees):
 Provided further that the maximum amount of pension shall be increased for the members who retired or retire on
or after the 1st November, 1992 (Award Staff) or the 1st July, 1993 (Supervising Staff) from rupees two thousand four
hundred per month to rupees four thousand two hundred fifty per month (pro-rata in the case of part-time employees)
after adjustment of dearness allowance on the basic pay up to 1148 points in the quarterly average of the All India
Working Class Consumer Price Index (General) Base 1960=100:
 Provided also that with effect from the 1st March, 1999 the maximum amount of pension for the members
who retired or retire drawing substantive salary in the Pay Scales effective from the 1st November, 1992 (Award
Staff) or the 1st July, 1993 (Supervising Staff) and thereafter shall be computed till further amendments in this
regard, as under―
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees eight thousand five hundred per month, fifty per cent. of the average of monthly substantive salary drawn during
the last twelve months’ pensionable service (pro-rata in the case of part-time employees); and
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees eight thousand five hundred per month, forty per cent of the average of monthly substantive salary drawn during�

6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
the last twelve months’ pensionable service subject to minimum of rupees four thousand two hundred fifty (pro-rata in
the case of part-time employees):
Provided also that with effect from the 1st November, 1997 (Award Staff) or the 1st April, 1998 (Supervising
Staff), the maximum amount of pension for the members who retired or retire drawing substantive salary in the Pay
Scales effective from the 1st November, 1997 (Award Staff) or the 1st April, 1998 (Supervising Staff) shall be computed,
by arriving at the corresponding stage by dividing the average basic pay by 1684 and multiplying it by 1616, till further
amendments in this regard, as under—
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees thirteen thousand six hundred sixty-six per month, fifty per cent. of the average of monthly substantive salary
drawn during the last twelve months’ pensionable service (pro-rata in the case of part-time employees); and
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees thirteen thousand six hundred sixty-six per month, forty per cent of the average of monthly substantive salary
drawn during the last twelve months’ pensionable service subject to minimum of rupees six thousand eight hundred
thirty-three (pro-rata in the case of part-time employees):
Provided also that with effect from the 1st May, 2005, the maximum amount of pension for the members who retired
or retire drawing substantive salary in the Pay Scales effective from the 1st November, 1997 (Award Staff) or the
1
st April, 1998 (Supervising Staff) shall be computed, as under—
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees fourteen thousand two hundred forty per month, fifty per cent. of the average of monthly substantive salary drawn
during the last twelve months’ pensionable service (pro-rata in the case of part-time employees); and
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees fourteen thousand two hundred forty per month, forty per cent of the average of monthly substantive salary drawn
during the last twelve months’ pensionable service subject to minimum of rupees seven thousand one hundred twenty
(pro-rata in the case of part-time employees):
Provided also that with effect from the 1st May, 2005, the maximum amount of pension for the members who
retired or retire drawing substantive salary in the Pay Scales effective from the 1st November, 2002 shall be computed till
further amendments in this regard, as under—
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees twenty-one thousand forty plus Professional Qualification Pay plus Fixed Personal Pay per month, fifty per cent
of the average of monthly substantive salary drawn during the last twelve months’ pensionable service (pro-rata in the
case of part-time employees); and
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees twenty one thousand forty plus Professional Qualification Pay plus Fixed Personal Pay per month, forty per cent
of the average of monthly substantive salary drawn during the last twelve months’ pensionable service subject to
minimum of rupees ten thousand five hundred twenty plus half of Professional Qualification Pay plus half of Fixed
Personal Pay wherever applicable (pro-rata in the case of part-time employees):
Provided also that with effect from the 1st November, 2007, the maximum amount of pension for the members
who retired or retire drawing substantive salary in the pay scales effective from the 1st November, 2007 shall be
computed till further amendments in this regard, as under―
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees thirty-one thousand five hundred per month, at fifty per cent. of the average of monthly substantive salary drawn
during the last twelve months’ pensionable service plus half of Professional Qualification Pay plus half of increment
component of Fixed Personal Pay, wherever applicable (pro-rata in the case of part-time employees);
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees thirty-one thousand five hundred per month, at forty per cent. of the average of monthly substantive salary drawn
during the last twelve months’ pensionable service subject to minimum of rupees fifteen thousand seven hundred fifty
plus half of Professional Qualification Pay plus half of increment component of Fixed Personal Pay, wherever applicable
(pro-rata in the case of part-time employees)�¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 7
Provided also that with effect from the 1st November, 2012, the maximum amount of pension for the members
who retired or retire drawing substantive salary in the Pay Scales effective from the 1st November, 2012 shall be
computed till further amendments in this regard, as under—
(a) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is up to
rupees fifty-one thousand four hundred ninety per month, fifty per cent. of the average of monthly substantive salary
drawn during the last twelve months’ pensionable service plus half of Professional Qualification Pay plus half of
increment component of Fixed Personal Pay, wherever applicable (pro-rata in the case of part-time employees);
(b) where the average of monthly substantive salary drawn during the last twelve months’ pensionable service is above
rupees fifty-one thousand four hundred ninety per month, forty per cent. of the average of monthly substantive salary
drawn during the last twelve months’ pensionable service subject to minimum of rupees twenty-five thousand seven
hundred forty-five plus half of Professional Qualification Pay plus half of increment component of Fixed Personal
Pay, wherever applicable (pro-rata in the case of part-time employees).”;
(B) in sub-regulation (9), in clause (a), for the words and figures “In the case of members who ceased to be in the
Bank’s pensionable service from the 1st November 1987 to the 31st October 1993”, the following words, figures and
brackets “In the case of members who ceased to be in Bank’s pensionable service from the 1st November 1987 to the
31st October 1992 (Award Staff) or the 30th June, 1993 (Supervising Staff)” shall be substituted;
(C) in sub-regulation (10), in clause (a), for the words and figures “In the case of members who retire from the
Bank’s service on or after 1st November 1993”, the following words, figures and brackets “In the case of members
who retire from the Bank’s service on or after the 1st November 1992 (Award Staff) or the 1st July, 1993 (Supervising
Staff)” shall be substituted;
(D) for sub-regulation (12), the following shall be substituted, namely: —
“(12) (i) The Dearness relief shall be allowed on full basic pension even after commutation.
(ii)(a) in respect of employees who retired or retire on or after 1st November, 1997 (Award Staff) or the 1st April,
1998 (Supervising Staff), dearness relief shall be payable for every rise or be recoverable for every fall, as the case
may be, of every 4 points over 1616 points in the quarterly average of the All India Average Consumer Price
Index for Industrial Workers in the series 1960=100;
(b) such increase or decrease in dearness relief for every aforesaid four points shall be calculated in the manner
given below: -
Sl.No. Scale of basic pension per
month
The rate of dearness relief as a percentage of basic pension
(1) (2) (3)
(i) up to Rs.3380 0.25 per cent.
(ii) Rs.3381 to Rs.5420 0.25 per cent of Rs.3380 plus 0.21 per cent of the basic pension in
excess of Rs.3380
(iii) Rs.5421 to Rs.5770 0.25 per cent of Rs. 3380 plus 0.21 per cent of the difference
between Rs.5420 and Rs.3380 plus 0.12 per cent of basic pension in
excess of Rs.5420
(iv) above Rs.5770 0.25 per cent of Rs.3380 plus 0.21 per cent of the difference
between Rs.5420 and Rs.3380 plus 0.12 per cent of the difference
between Rs.5420 and Rs.5770 plus 0.06 per cent of basic pension in
excess of Rs.5770
(iii)(a) on and from the 1st May, 2005, in respect of employees who retired or retire on or after the 1st November,
1997 (Award Staff) or the 1st April, 1998 (Supervising Staff), dearness relief shall be payable for every rise or be
recoverable for every fall, as the case may be, of every 4 points over 1684 points in the quarterly average of
the All India Average Consumer Price Index for Industrial Workers in the series 1960=100;
(b) such increase or decrease in dearness relief for every aforesaid four points shall be calculated in the
manner given below� THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
Sl.No. Scale of basic pension per
month
The rate of dearness relief as a percentage of basic pension
(1) (2) (3)
(i) up to Rs.3550 0.24 per cent.
(ii) Rs.3551 to Rs.5650 0.24 per cent of Rs.3550 plus 0.20 per cent of the basic pension in excess
of Rs.3550
(iii) Rs.5651 to Rs.6010 0.24 per cent of Rs. 3550 plus 0.20 per cent of the difference between
Rs.5650 and Rs.3550 plus 0.12 per cent of basic pension in excess of
Rs.5650
(iv) above Rs.6010 0.24 per cent of Rs.3550 plus 0.20 per cent of the difference between
Rs.5650 and Rs.3550 plus 0.12 per cent of the difference between
Rs.6010 and Rs.5650 plus 0.06 per cent of basic pension in excess of
Rs.6010.”;
(E) for sub-regulation (15), the following shall be substituted, namely: —
“(15)(i) In respect of employees who retired or retire on or after the 1st November, 2007, dearness relief on pension shall
be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 2836 points in the
quarterly average of the All India Average Working Class Consumer Price Index (General) Base 1960=100 at 0.15 per
cent of the basic pension;
(ii) In respect of employees who retired or retire on or after 1st November, 2012, dearness relief on pension shall be
payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 4440 points in the
quarterly average of the All India Average Working Class Consumer Price Index (General) Base 1960=100 at 0.10 per
cent of the basic pension.”.
R. JAYARAMAN, Chief General Manager (HR)
[ADVT.-III/4/Exty./250/17]
Note : The principal regulations were published in the Gazette of India, Extraordinary, Part III, Section 4 dated the
18th September, 2014 vide F.No. CDO/PM/16/ SPL/1136 dated the 15th September, 2014.

Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064

Sunday, August 6, 2017

LATEST UPDATE ON PENDING ISSUES OF PENSIONERS AND RETIREES

LATEST UPDATE ON PENDING ISSUES OF PENSIONERS AND RETIREES

We have been posting you with the developments and various efforts put in by CBPRO and its constituents in regard to the following major outstanding issues concerning the pensioners and retirees:

100% DA neutralization to pre 2002 retirees;
Improvement in family pension;
Pension updation
Improvement in medical insurance policy/medical benefit scheme for retirees;
Second option to left out compulsorily retired officers;
Second option to resignees who have put in pensionable service;

We are happy to note that due to our persistent follow up and interactions with the UFBU, they have taken up the issues mentioned in the record note of the last Bi-partite settlement during their ongoing negotiations for the 11th Bipartite Settlement. We are in constant touch with the Convenor of the UFBU and the leaders of the constituents of the UBFU.  During their meeting with the Chairman of the Sub-Committee of IBA In-charge of negotiation on 1st August 2017, they have taken up the matter of 100% DA neutralization and family pension and have got a positive response from the Chairman of the sub-committee in resolving the above issues.  We hope that the issues contained in the record note will be sorted out on a priority basis before the conclusion of the ensuing Bipartite Settlement as the record note is the product of last settlement.

Meanwhile we have been pursuing all the major issues concerning the retirees cited above with the Government and the IBA by writing to them and also by meeting them.  After our meeting with Shri Arun Jaitleyji, Honourable Finance Minister on 1st June 2017, we are enthused by his response  to us while discussing our issues.  We explained to him the details about 100% DA neutralization issue, family pension and updation. By all means it was not a meeting for merely submitting a memorandum but a meeting where he heard our issues patiently asking us to clarify points in respect of the issues.

As a further follow up we met Shri Santosh Kumar Gangwarji, Honourable Minister of State for Finance on 24th July 2017 and further explained to him about our meeting with the Honourable Finance Minister and also urged him to advise his Ministry to initiate steps to resolve the issues on an urgent note as quite a lot of retirees are in their advanced age of life.  The Honourable Minister was very sympathetic and assured us of the resolution of the pending matters.  He also informed us that he had already talked to the Ministry officials in this regard and assured of reminding them further.

In between the meetings we had with the Honourable Finance Minister and Honourable Minister of State for Finance, we were also pursuing the issues on a continuous basis with the top Ministry officials in the Department of Financial Services, Ministry of Finance.  We have given a detailed note on 17th July 2017 in respect of all the above issues and also submitted a chart with approximate calculations in regard to each of the above issues.  We have also mentioned in our note that the cost implications are not going to affect the profitability of the Banks as the payments have to be made out of Pension Funds which are adequate to meet the cost of improvements.

We are happy to inform you that consequent to our meetings with the Honourable Ministers, followed by meetings and  discussions with the top Ministry officials, a  committee has been constituted in the Department of Financial Services, Ministry of Finance to resolve the pending issues of Bank pensioners and retirees.  We are hopeful of a favourable outcome in regard to the issues very shortly.

We firmly believe that the issues like Pension Updation, Family Pension, Medical Benefit Scheme etc. shall be of direct concern to the serving employees as well in the years to come on their retirement. It is imperative that the UBFU and CBPRO enhance their combined efforts for resolution of the pending issues.  We are happy that all the constituents and leaders of UFBU are making sincere efforts in this regard.

Comrades, we do understand the anxiety of all concerned as the issues did not get encouraging response from any of the authorities earlier. Nevertheless we did not allow our determination to diminish for clinching the issues.  The developments during the last couple of months tend to give us confidence that as a result of our efforts with Ministry and IBA and also the initiatives taken by UFBU we are inching towards a satisfactory solution to the issues raised by us.  We will further step up the momentum of our efforts with the Ministry and IBA and also scale up the level of our interaction with UFBU leaders so as to ensure early success.

With regards,

Yours comradely

       
(A.RAMESH BABU)              (K.V. ACHARYA)
                         JOINT CONVENERS

Friday, August 4, 2017

Pre Retirees 2002

THIS MESSAGE IS FOR RETIREES OF PRE_2002 ONLY.
THEIR PENSION IS BEING RE_FIXED ON THEIR LAST DRAWN
ACTUAL BASIC PAY ON 40%/50% BASIS. SO, THEY ARE GETTING
ARREARS w.e.f. 1.5.2005.

1. In COURT case of SBI Pensioners Federation, WPC 1875 / 2013, Govt
had appointed a Committee whose recommendations have been
approved by Govt./RBI

2.A copy of Govt letter is attached.

3. 5th Bipertite Pay Settlement (Jan 87 to Oct 92),
6th BPS (Nov 92 to March 98), and 7th BPS (April, 98 to Oct 2002), are MAIN
BENEFICIARIES OF RECOMMENDATIONS. Increase ranges ROUGHLY between Rs.1500 to Rs.2500
per month (based on April, 2017
Pension) approximately.

4. Pensioners Federation had approached Bank for AD HOC release of 90% of arrears which
has been accepted by Bank.

5. Arrears are being credited to Pension Account in a phased manner on DAILY BASIS as
large number of 40,000 beneficiaries are there.
So, WAIT FOR YOUR CREDIT PATIENTLY.

6. A chart showing approx amount of arrears is attached,

(Based on peace meal information available.)

E. & O. E.

PLEASE ADVICE WHEN YOU RECEIVE CREDIT,
WITH YOUR SCALE, DATE OF RETIREMENT AND AMOUNT
FOR THE BENEFIT OF OTHERS

100% D.A. Neutralization in Pre-November 2002 Retirees’ case

100% D.A. Neutralization in Pre-November 2002 Retirees’ case Judgment in Hon’ble Supreme Court reserved

A circular on the above subject, issued by CBPRO is reproduced below.
QUOTE :
To,
All the General Secretaries of the Constituents of CBPRO.

As you are aware the above case is pending before the Hon’ble Supreme Court of India. After few adjournments, it came up for arguments today for disposal. The Senior Advocates of all the parties were heard at length. The arguments by the lawyers representing the Retirees’ Organizations were very well received. Our presence in the Court helped an excellent coordination among the Senior Advocates who represented the Retirees’ Organizations. The Senior Advocate who represented the Bank Management argued vehemently that there was no discrimination as the employer has a right to restrict the applicability of new benefits/ improvements to the future Retirees and for that purpose the
cut-off date in this case being 01.11.2002 was in order. He also argued that making the 100% D.A. neutralization applicable to all past Retirees would involve huge financial burden. His argument was that the quantum of amount mutually agreed at the time of signing the settlement as a load factor to be distributed among various components of pay like Basic pay, D.A., HRA, Medical, other
allowances, etc. was a limiting factor which was agreed to by all the Unions representing the Employees and Officers. Hence, it could not be questioned at this stage. These arguments were effectively countered by the Senior Advocates who represented various Organizations of Retirees.
Shri V.K. Bali, Senior Advocate (Former Chief Justice of Kerala High Court and Former Chairman of Central Administrative Tribunal), who represented AIBRF, argued the case excellently. His arguments were able to impress the Court about the distinctions made out in Para2(b) of the Bipartite Settlement of May, 2005 in respect of applicability of uniform rate of D.A. and the distortions in its
implementations vide IBA Circular dated 28.06.2005 going against the spirit of the Bipartite Settlement. The clauses relating to payment of uniform D.A. from May, 2005 in the Bipartite Settlement and Joint note did not stipulate any cut-off date with regard to exclusion of Pre-November 2002 Retirees from the applicability of 100% D.A. rather it only mentioned about the change in the
D.A. formula to 100% D.A. neutralization from 2005. IBA while issuing the circular to the Member Banks unilaterally created artificial classification by wrongly dividing the Retirees into different groups as Pre-01.11.2002 Retirees and post 01.11.2002 Retirees. It was sought to be questioned in the Court by the Senior Advocates representing the Retirees Organizations. The distortion caused by IBA Circular was well explained to the Hon’ble Supreme Court. Shri Jitendra Sharma, Senior Advocate,
representing the Petitioners namely United Bank of India Retirees’ Welfare Association strongly supplemented the arguments of Shri Bali while also highlighting the clause 6 of Pension Settlement of 1993. 
Shri A.S. Nambiar, renowned Senior Advocate who represented the ARISE, an affiliate of AIBPARC made very valid points invoking Article 14 of the Constitution of India. He also argued about the absence of justification and rationale objectives with regard to Artificial Classification made by IBA Circular based on the date of retirement of the Pensioners. He effectively highlighted the ratio
laid down in the case of D.S.Nakara. He also pointed out that the inflation equally hurts all the Pensioners irrespective of their date of Retirement. D.A. is payable towards part compensation on account of price-rise and hence there cannot be different rate of D.A. payable to the Retirees merely on the basis of their date of retirement. Mr.Nambiar was ably assisted by Mr. Sewa Ram,
Advocate(Former IOBian). Mr.Sewa Ram also argued that the Pension Options were exercised by the Employees in 1993-94 on the basis of the Pension settlement even before the Pension Regulations were finalized on 29.09.1995. He also argued that IBA’s letter dated 17.12.1993 to Sri R.N. Godbole the then General Secretary of AIBOC clearly stated that the Pension Regulations will be finalized on the lines of Pension rules of the Central Government and the Reserve Bank of India. The argument of the Management Lawyer about the Pension fund being contributory was well countered by him on the grounds that it is a revenue expenditure which has to be fully met by the Bank in accordance with the actuaries investigation. He also supplemented the arguments of Mr.Nambiar. Mr.Sewa Ram also actively coordinated the mutual consultations amongst the Senior Advocates so as to ensure
effective and fruitful arguments before the Hon’ble Supreme Court.
Mrs. V. Mohana, Senior Advocate, representing RBONC (Constituent of CBPRO) advanced  arguments about discrimination caused by IBA’s Circular dated 28.06.2005 despite there being no such clause in the Bipartite Settlement or Joint Note. She also made a point that the judgment in the case should apply to all the affected Bank Pensioners. She also made a point that the Management’s
argument about huge financial burden on account of 100% D.A. Neutralization was without any substance or justification and the number of pre-2002 Retirees is small in number as compared to the large number of Pensioners who have retired after November, 2002.
The arguments in the case started at 10:30 AM and concluded at 03.00 PM. After hearing the arguments of the parties, the Hon’ble Court sought some clarifications in the light of the earlier case of 100% D.A. neutralization having been dismissed by the Hon’ble Supreme Court. The Judges sought the views of the Advocates representing the Pensioners’ and Retirees’ Organizations
about their earlier judgment relating to dismissal of appeals against the Order of Hon’ble High Court of Madras and implications thereof. The Senior Advocates expressed their views in response to the queries raised by the Hon’ble Court. In view of very sound  and valid Constitutional points raised by the Senior Advocates representing the Pensioners’ and Retirees’ Organizations, the Hon’ble Court reserved the judgment. We hope for a favourable verdict in the matter. We also hope that the initiative on the part of the Delhi based Leaders of Pensioners’ and Retirees’ Organizations in ensuring excellent coordination amongst the Senior Advocates shall go a long way in further strengthening the Bank Retirees’ Movement.
With Regards,
Yours Comradely.
A.Ramesh Babu     K.V. Acharya
Joint Conveners
UNQUOTE

Monday, July 4, 2016

Leave Rules in Banks

Leave Rules




LEAVE RULES
Casual Leave
1. Eligible for 12 days in a year.
2. Shall be earned on a pro-rata basis during the first year of service - at the rate of one day for each completed month or part thereof.
3. Can be taken 4 days at a time. The holidays and weekly offs prefixing/suffixing or falling within the period of Casual Leave will not be treated as part of casual leave. (The ceiling of total period of absence of 6 days including holidays was now removed in 10th BPS).
4. CL cannot be combined with any other kind of leave.
Unavailed Casual Leave:
Casual leave not availed in a calendar year is convertible into sick leave with full substantive pay except during the first year. It can be availed only on the grounds of sickness. There is no time limit for availing UCL accumulated in a year. UCL can be availed without MC for 4 days at a time once in a year or two days at a time twice in a year. For one day on any number of occasions, MC is not necessary.
Note: For Officers Unavailed C.L. should be availed within three years.
Privilege Leave
1. Calculated at the rate of one day for every eleven days of active service. While calculating PL, all kinds of leave availed except CL shall be excluded.
2. Can be availed only on completion of 11 months of service.
Generally 4 occasions in a calendar year, though one occasion may comprise even a single day.
(Known as, PL under domestic grounds).

3. However, the reasons for the request by an employee for leave on more than 4 occasions in a year are adequate and genuine and it is not administratively inconvenient, such leave may be granted. PL should be applied before 15 days of the proposed date of commencement of leave.
4. PL on medical grounds can be granted for more than 4 days at a time on production of Medical Certificate which will not be counted in the above 4 occasions.
5. The restriction with regard to the number of times of availing PL, mentioned in Para 3 above, does not apply to members of Executive Committee of a Registered Trade Union. A member of Executive Committee can avail PL for any number of times for organizational work. (of course, within his eligible leave)
6. PL can be accumulated up to 270 days and on retirement the encashment is restricted only to 240 days.

Sick Leave
1. An employee is entitled to sick leave on half substantive pay, at the rate of one month for each year of service subject to a maximum of 18 months (540 days) during his entire service, provided that where an employee has put in a service of 24 years, he shall be eligible to additional sick leave at the rate of one month for each year of service in excess of 24 years, subject to 3 months of additional sick leave. For availing sick leave the employee has to submit MC.
2. An employee can convert the half-pay sick leave in to full pay sick leave.
But twice the period of leave will be debited.
3. During the first year of service sick leave will be granted on prorate basis.
4. Sick Leave can be availed for any number of days.
5. Sick Leave can be availed without Medical Certificate by an employee for a maximum period of 10 days in a calendar year not exceeding two days at a time after exhausting the Casual Leave.
6. Sick Leave can be clubbed with PL, ML and UCL.

Maternity Leave
1. Maternity leave which shall be on substantive pay shall be granted to a female employee for a period not exceeding 6 months on any one occasion and 12 months during the entire period of her service.
2. Within the overall period of 12 months, leave may also be granted in case of miscarriage/abortion/MTP.
3. Within the overall period of 12 months, leave may also be granted in case of hysterectomy up to a maximum of 60 days.
4. ML is available even in the first year of service. Probationers are also eligible. But the probation period will be extended to that extent.
5. Leave may also be granted once during service to a childless female employee for legally adopting a child who is below one year of age, for a maximum period of six months, subject to the following terms and conditions:-
i) Leave will be granted for adoption of only one child.
ii) The adoption of a child should be through a proper legal process and the employee should produce the adoption-deed to the Bank for sanctioning such leave.
iii) The Permanent Part-time Employees are also eligible for grant of leave for adoption of a child.
iv) The Leave shall also be available to biological mother in cases where the child is born through surrogacy.
v) The leave shall be availed within overall entitlement of 12 months
during the entire period of service.

Paternity Leave
With effect from the 1st June 2015, male employees with less than two surviving children shall be eligible for 15 days Paternity Leave during his wife’s confinement. This leave may be combined with any other kind of leave except Casual Leave. The leave may be availed up to 15 days before or up to 6 months from
the date of delivery of the child.

Extra-ordinary Leave
1. An employee is eligible for extraordinary leave on loss of pay when no other kind of leave is due to the employee.
2. This leave is granted not exceeding 3 months on any one occasion with a maximum of 24 months in the entire period of service. Can be combined with or in continuation of any kind of leave except CL.
3. Period of leave on LOP shall not count for increments and increment date will be postponed.

Special Casual Leave for Blood Donation
Employees who donate blood to a recognized blood bank or Bank sponsored blood donation drive are eligible for special CL for one day, on the day of blood donation, subject to the production of satisfactory documentary proof.

Special Leave for Vasectomy / Sterilization
( 1). 6 days CL for male employees for undergoing Sterilization.
(2). 14 days special CL for female employees who undergo non puerperal Tubectomy operation.
3. 1 day special CL for female employee, who had IUD insertions.
4. 7 days CL to male employees whose wife undergoes Non Puerperal Tubectomy operation subject to the production of MC from the doctor who performed the operation to that effect that the presence of the male employee is essential for the period of leave to look after his wife during her convalescence after operation. Leave to commence on the day of operation.
5. An employee developing post-operative complication after sterilization may be granted CL to that extent of the period for which he or she is hospitalized for such post operative complication,
subject to production of necessary certificate from the concerned hospital authorities.
6. An employee is not entitled to special CL after maternity leave, if the sterilization operation, recanalisation was done during the maternity leave.

Special Sick Leave
With effect from the 01.06.2015 special Sick Leave up to 30 days may be granted to an employee once during his/her entire period of service for donation of kidney/organ.

Sabbatical Leave (Govt.Scheme) for Women Employees
Permanent female employees with minimum of 5 years of Service are eligible. In exceptional circumstances, employees with less than 5 years of service can also apply. Purpose of leave is
Medical grounds, care of family members or children, higher studies, visit spouse, etc.

Period of leave shall be a minimum of 3 months at a time and shall not be taken more than once in a year, maximum of 2 years during entire career. Total period of leave including earlier Sabbatical scheme, EOL and extra-ordinary leave under Bi-partite shall not exceed 3 years.

Wednesday, April 20, 2016

KNOW YOUR PENSION

PENSION CALCULATION MADE EASY



SOMETHING ABOUT PENSION



Minimum Pension Rs 1435/-   per month, who retire on or after 01.05.2005.

  Maximum Pension

Those who have got 33 years of qualifying service will get 50% of their average emoluments as Basic Pension and where the qualifying service is less than 33 years; the basic pension would be proportionate to their service.

Calculation of Basic Pension.

Average of 10 months pay prior to the date of retirement has to be calculated (pay includes BP + increment component of FPP+PQP).
Basic pension = (10 months’ Average Pay    x    No of years of service) / (2x33) 

Dearness Relief on Basic Pension.

In respect of employees who retire on or after 1.5.2005, Dearness Relief shall be payable for every rise   or   be recoverable for every fall, as the case may be of every 4 points over 2288 points in the quarterly average of the All India Average Consumer Price Index for Industrial Workers in the series 1960 = 100, at the rate 0.18% of Basic Pension.  
.
 Family Pension :

In the event of death while in service or after retirement, family pension shall be payable to spouse/dependents at the following rates w.e.f. 01.5.2005.

Scale of pay per month                        Amount of Family Pension
Upto Rs 5720                                        30% of the pay as family pension
                                                               with minimum of Rs 1435/-

Rs 5720 to 11440                                 20% of the pay as family pension
                                                              with minimum of Rs 1715

Above Rs 11440                                   15% of the pay as family pension
                                                               with minimum of Rs 2292 and
              Maximum of Rs 4784


KNOW ABOUT GRATUITY CALCULATION

GRATUITY --EASY TO UNDERSTAND

Gratuity

Gratuity is payable on death, retirement, permanent disablement or resignation of an employee and it is calculated by two methods as given below and the amount whichever is higher will be paid.   Gratuity amount up to 10.00 lacs is exempted from Income Tax.


GRATUITY OF AN EMPLOYEE IS CALCULATED WITH TWO METHODS AND WHICH EVER IS HIGHER IS PAID.

METHOD - I


Gratuity Act 1972:

An employee is eligible for gratuity after completion of 5 years of service.   The Gratuity payable under the act is 15 days wages for every completed years of service.   The maximum gratuity payable under the Act is Rs.10.00 lacs from 24.05.2010.

WAGES for this purpose will mean Basic Pay +Spl.Pay+ PQP + FPP (less HRA component) + Dearness Allowance).

The Calculation is as follows:
Gratuity Amount = (Wages) x No of year of service x 15/26
METHOD
- II
(as par 10th Bipertite)

Gratuity as per Service Regulations

An employee is eligible for gratuity after completion of 10 years service.   The gratuity payable is 15 months pay up to 30 years of service plus additional 15 days pay for every completed years of service beyond 30 years
WAGES  for this purpose means BP + PQP + Increment component of FPP.


HOPE EVERY ONE CAN UNDERSTAND.


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