Annual wage increase of Rs. 4816 ( Rs. 2239 crores for officers and Rs. 2576 crores for workmen employees ) w.e.f. 1-11-2007 - AIBEA
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 Capita Increase Ø For Workmen employees Ø 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.
Source:AIBEA
1 comments:
This is the worst settlement for banks compared to the huge hike under sixth pay commission for Govt employees. This low hike is mainly due to grant of second Pension option which is going to benefit a handful of retired/retiring employees at the cost of large majority . Why should the employees who are already covered by Pension suffer for a handful of non pension optees. There should have been separate settlements for Pension and non pension optees. This settlement will adversely effect the moral of young employees who are already covered by Pension scheme. The disparity in wages between bank and other sectors will increase still further. All Bank employees should reject the wage settlement and object to the meek surrender to IBA and to the unjust agreement.
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