K. Jagadeesan, Nagpur Unit Secretary, Bank of India Retirees Association (Maha-Goa), Vice-President, AIBRF, Nagpur Forum have raised some concerns in the Union Budget 2021. According to him, some questions have arisen, regarding pension revision, which are UN-ANSWERED & the motives of its non-revision by the authority are unknown. Now, serially, those are as here under:-
1. CONTRADICTION BY THE GOVT
(1) If, there is no provision of revision in the Pension regulation of Bank, 1993 & how, the family pension will be revised, which is under consideration of the government, as has been told by the FM, in the Rajya Sabha. Was it included in the said act, 1993 that only the family pension will be revised, not pension?
(2) If it is illegal, how, IBA, with its recommendation, forwarded it for consideration of the govt. Rather, it should have been null & void, at the instance of its demand.
(3) The FM, has told that Banks pension is paid from the income from a fund created. But, where from its fund came, she is silent about it. None but the fund is the earning of the blood & soul of the heard earned money of their PF fund. Bank has not contributed a paisa in it. So, the whole income generated by this fund, along with the principal, belongs to the pensioners. The profit loss of a bank is untouched towards its payment.
(4) Hypothetically, if we admit that the main reason of non-revision is funds constraints (though actually, lakhs of rupees are there), as previously, when the PSU banks performance is in red, to save it, govt time & again infused fund from their revenue. The organization is in red, sighting this reason, govt cannot ignore r to pay for mandatory expenditure, like salary, pension, rent etc.
(5) Now, coming to the last point, I may add that, on 22-07-20, after the signing of MOU between UFBEU & IBA, when the main part of the bipartite was signed without mentioning for any revision of pension, we made up our mind that, as earlier, this time also, we the poor bank retirees are neglected. But all on a sudden, during the middle of October, 2020, while our FM was in conversation with a reporter of Business and threw some light of positivity in our revision of pension. Not only that, even on 30th October, while attending as a Chief guest in the AGM of IBA, our FM again spoke very much Inspirational (comparing bank retirees with retired army men & introduction of OROP in pension revision) raised large amount of hope not only among the retirees, but also among their family members, as this time she spoke it in a video conference, which was observed by a large section of people. Then come, her parliament's speech, which was a bolt from the blue for us. Was it a crude joke to us, as, after signing of MOU, we lost all faith, neither, FM was talking with any pensioners delegation nor anybody asked her any question. Still, out of her own, she spoke this. In a democratic country like India, if people have to tolerate this type of crude joke related to their livelihood from a minister, what more is there?
2. CONTRADICTION ON PART OF IBA:-
(1) During their part, IBA never pointed out any legal hindrance, regarding pension updation.
(2) If there is no fund to accommodate revision, why the question of appointing Actuary arises? No fund, so no revision.
According to him, If we analyses all these, these are all self-contradictory. This reminds us the story of the tiger and the lamb. Where, tigers intention was, somehow to eat the lamb, and for that it told all contradictory things. Here, by hook or crook, we will not revise pension, so all these reasons.
3. ON THE PART OF UFBEU
World Economic Forum from 2010, NPS has been introduced in Bank also for all the new comers. So, a time will come, when, there will not be a single, to receive from prevailing type of pension. Naturally, the leaders know very well, as they will not be able to avail of old pension, how, they can be convinced to agitate for it. So let it remain as it is, thinks Mr. Jagdeeshan.