BANK PENSIONERS LATEST NEWS
Important News Bank Pensioners /Retirees
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Bank pensioners Latest News today
PLAN N PROGRESS CREATES NEW PAGE FOR EXCLUSIVE NEWS FOR BANKERS AND RETIREES
To read latest news for working bankers ,
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FOR LATEST UPDATES ON BANK PRIVATIZATION :
CABINET PANEL MEETS TO DISCUSS NITI AYOG RECOMMENDATIONS
GOVERNMENT TO AMEND BANKING LAW TO FACILITATE PRIVATISATION : CLICK HERE TO READ
LATEST NEWS ON GROUP INSURANCE FOR 2022 IS NOW AVAILABLE ON A NEW PAGE . CLICK HERE TO VISIT
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FOR LATEST UPDATES ON BANK PRIVATIZATION :
CABINET PANEL MEETS TO DISCUSS NITI AYOG RECOMMENDATIONS
GOVERNMENT TO AMEND BANKING LAW TO FACILITATE PRIVATISATION : CLICK HERE TO READ
LATEST NEWS ON GROUP INSURANCE FOR 2022 IS NOW AVAILABLE ON A NEW PAGE . CLICK HERE TO VISIT
New Updated Article
TAX PLANNING FOR FY 2022-23 ( AY 2023-24 )
Comprehensive Article on Income tax changes in Rules, Rates , Slabs , Rebates and Estimation
CLICK HERE TO READ
TAX PLANNING FOR FY 2022-23 ( AY 2023-24 )
Comprehensive Article on Income tax changes in Rules, Rates , Slabs , Rebates and Estimation
CLICK HERE TO READ
Bank Pensioners Latest News Today
PENSION UPDATION
MEETING OF UFBU WITH IBA :
Dated 01 .03 .2023 : It is reported that the meeting between IBA and UFBU constituents took place yesterday . In the meeting , residual issues including pension updation and 5 day banking were discussed .
With regard to updation of pension , IBA informed the UFBU representatives that it would study the complete data such as no. of pensioners, present outgo and future burden etc and a meeting would take place thereafter . Hence bank pensioners have to wait further for any progress in the matter .
It is also reported that the 5 day banking issue has been settled amicably and an agreement has been reached between IBA and UFBU .
For the details of the meeting , CLICK HERE
MEETING OF UFBU WITH IBA :
Dated 01 .03 .2023 : It is reported that the meeting between IBA and UFBU constituents took place yesterday . In the meeting , residual issues including pension updation and 5 day banking were discussed .
With regard to updation of pension , IBA informed the UFBU representatives that it would study the complete data such as no. of pensioners, present outgo and future burden etc and a meeting would take place thereafter . Hence bank pensioners have to wait further for any progress in the matter .
It is also reported that the 5 day banking issue has been settled amicably and an agreement has been reached between IBA and UFBU .
For the details of the meeting , CLICK HERE
PRE -1986 RETIREES : EX-GRATIA TO BE IMPROVED
Dated 21.02.2023 : Indian Bankers Association ( IBA ) has asked State Bank of India and other public sector banks to improve the ex-gratia being paid to the pre- 1986 retirees or their surviving spouses .
IBA has advised the banks to pay an additional ex-gratia over the existing pension to make a minimum of Rs 10,000 per month as ex-gratia .
It is expected that the pre -1986 will get an additional amount of Rs 4,899 and the surviving spouses would receive an additional amount of Rs 7,450 every month .
Individual banks have to take permission from their boards and the revision will take place with immediate effect .
The last revision of ex-gratia payable to pre -1986 pensioners was made in 2013 .
Dated 21.02.2023 : Indian Bankers Association ( IBA ) has asked State Bank of India and other public sector banks to improve the ex-gratia being paid to the pre- 1986 retirees or their surviving spouses .
IBA has advised the banks to pay an additional ex-gratia over the existing pension to make a minimum of Rs 10,000 per month as ex-gratia .
It is expected that the pre -1986 will get an additional amount of Rs 4,899 and the surviving spouses would receive an additional amount of Rs 7,450 every month .
Individual banks have to take permission from their boards and the revision will take place with immediate effect .
The last revision of ex-gratia payable to pre -1986 pensioners was made in 2013 .
UFBU NOW SEEKS PENSION UPDATION FOR ALL PAST RETIREES :
Dated 02.02.2023 : In a letter addressed to IBA , UFBU has demanded the pension updation for all the existing pensioners from 01- 01-1986 and up to those who retired on or before 31-10-2017 . They have demanded that the present pension paid to all these retirees on and from 01-01-1986 to 31-10-2017 be brought/updated to the level of the pay scales as applicable under the 11th Bipartite Settlement / 8th Joint Note signed on 11-11- 2020.
UFBU is an umbrella body of 9 Bank unions AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO which represent bank employees unions and bank officers associations .
Dated 02.02.2023 : In a letter addressed to IBA , UFBU has demanded the pension updation for all the existing pensioners from 01- 01-1986 and up to those who retired on or before 31-10-2017 . They have demanded that the present pension paid to all these retirees on and from 01-01-1986 to 31-10-2017 be brought/updated to the level of the pay scales as applicable under the 11th Bipartite Settlement / 8th Joint Note signed on 11-11- 2020.
UFBU is an umbrella body of 9 Bank unions AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO which represent bank employees unions and bank officers associations .
BANK PENSIONERS DA WILL GO UP BY 62 SLABS FROM FEBRUARY 2023
Dated 31.01.2023 : The average consumer index points have increased in the quarter ending June 2022 to 8705.98 from earlier average of 8,495 points . Accordingly the DA slabs have gone up by 62 slabs .
In tune with raising Consumer Price Index noted , the Dearness Allowance ( DA ) payable to bank pensioners from February 2023 to July 2023 will be enhanced by 62 slabs .New DA Rates from February 2023 to July 2023 for pensioners retired earlier is as follows :
1. Pensioners retired after 31.10 2017 : 41.16 % of Basic Pay ( 588 slabs over 6352 points )
2. Pensioners retired between 01.11.2012 to 31.10 2017 : 106.60 % of Basic pension ( 1066 slabs over 4440 points )
1. Pensioners retired between 01.11.2007 to 31.10 2012 : 220.05 % of Basic pension ( 1467 slabs over 2836 points)
2. Pensioners retired between 01.11.2002 to 31.10 2007 : 288.72 % of Basic pension ( 1604 slabs over 2288 points )
3. Pensioners retired between 01.04 .1998 to 31.10 2002 :
a. Up to Basic pension Rs 3,550 : 421.20 %
b. Basic pension between Rs 3,551 to Rs 5,650 : Rs 13,325.28 + 351.00 % of Basic pension exceeding Rs 3,550
c. Basic pension between Rs 5,651 to Rs 6,010 : Rs 19,894.08 + 210.06 % of Basic pension exceeding Rs 5,650
d. Basic pension above Rs 6,010 : Rs 20,569 .72 + 105.30 % of Basic pension exceeding Rs 6,010
Similarly the pensioners retired earlier will also get DA enhancement .
To know about working bankers DA hike , click here
To read AIBEA Circular , click here
Dated 31.01.2023 : The average consumer index points have increased in the quarter ending June 2022 to 8705.98 from earlier average of 8,495 points . Accordingly the DA slabs have gone up by 62 slabs .
In tune with raising Consumer Price Index noted , the Dearness Allowance ( DA ) payable to bank pensioners from February 2023 to July 2023 will be enhanced by 62 slabs .New DA Rates from February 2023 to July 2023 for pensioners retired earlier is as follows :
1. Pensioners retired after 31.10 2017 : 41.16 % of Basic Pay ( 588 slabs over 6352 points )
2. Pensioners retired between 01.11.2012 to 31.10 2017 : 106.60 % of Basic pension ( 1066 slabs over 4440 points )
1. Pensioners retired between 01.11.2007 to 31.10 2012 : 220.05 % of Basic pension ( 1467 slabs over 2836 points)
2. Pensioners retired between 01.11.2002 to 31.10 2007 : 288.72 % of Basic pension ( 1604 slabs over 2288 points )
3. Pensioners retired between 01.04 .1998 to 31.10 2002 :
a. Up to Basic pension Rs 3,550 : 421.20 %
b. Basic pension between Rs 3,551 to Rs 5,650 : Rs 13,325.28 + 351.00 % of Basic pension exceeding Rs 3,550
c. Basic pension between Rs 5,651 to Rs 6,010 : Rs 19,894.08 + 210.06 % of Basic pension exceeding Rs 5,650
d. Basic pension above Rs 6,010 : Rs 20,569 .72 + 105.30 % of Basic pension exceeding Rs 6,010
Similarly the pensioners retired earlier will also get DA enhancement .
To know about working bankers DA hike , click here
To read AIBEA Circular , click here
AIBPARC TRIENNIAL MEETING BEGINS :
Dated 29.01.2023 : As scheduled , the Triennial Meeting of All India Bank Pensioners & Retirees Confederation ( AIBPARC ) is progressing at Bengaluru , Karnataka . The meeting is scheduled for the Saturday & Sunday 28th & 29th , January 2023 . Over 700 Delegates/Observers from all over India from various affiliates are expected to participate in the Conference.
In the inaugural session yesterday , President of AIBPARC Com. K V Acharya ji addressed the 4th Triennial General Body Conference which is being held in Jnana Jyothi Auditorium, Bangalore City University, Bangalore . Chief Guest Justice V. Gopala Gowda j addressed the gathering in its evening session .
The meeting will conclude today .
Dated 29.01.2023 : As scheduled , the Triennial Meeting of All India Bank Pensioners & Retirees Confederation ( AIBPARC ) is progressing at Bengaluru , Karnataka . The meeting is scheduled for the Saturday & Sunday 28th & 29th , January 2023 . Over 700 Delegates/Observers from all over India from various affiliates are expected to participate in the Conference.
In the inaugural session yesterday , President of AIBPARC Com. K V Acharya ji addressed the 4th Triennial General Body Conference which is being held in Jnana Jyothi Auditorium, Bangalore City University, Bangalore . Chief Guest Justice V. Gopala Gowda j addressed the gathering in its evening session .
The meeting will conclude today .
BANK PENSION UPDATION : LATEST NEWS
PENSION UPDATION : UFBU FOR PRIORITIZING PRE-2002 RETIREES :
Dated 18.12.2022 : In a meeting held at Chennai by the constituents of UFBU , it was decided to achieve the updation of pensions for the retirees covered by 5th , 6th & 7th Bipartite wage settlement ( pre-2002 retirees ) first and to follow-up for the remaining retirees with a clear roadmap for their pension updation .
Hence bank retirees , who have retired after 2002 , may have to wait for more time to get their dream of updation materialized and it may not happen near soon .
UFBU is an umbrella body of 9 Bank unions AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO which represent bank employees unions and bank officers associations .
Dated 18.12.2022 : In a meeting held at Chennai by the constituents of UFBU , it was decided to achieve the updation of pensions for the retirees covered by 5th , 6th & 7th Bipartite wage settlement ( pre-2002 retirees ) first and to follow-up for the remaining retirees with a clear roadmap for their pension updation .
Hence bank retirees , who have retired after 2002 , may have to wait for more time to get their dream of updation materialized and it may not happen near soon .
UFBU is an umbrella body of 9 Bank unions AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO which represent bank employees unions and bank officers associations .
AIBPARC TO HOLD TRIENNIAL MEETING IN BENGALURU :
Dated 21.11.2022 : All India Bank Pensioners & Retirees Confederation ( AIBPARC ) will hold a triennial General Body Conference on the Saturday & Sunday 28th & 29th , January 2023 in Bengaluru .
The venue proposed for the meeting is
JNANA JYOTHI AUDITORIUM , BENGALURU CITY UNIVERSITY,
CENTRAL COLLEGE CAMPUS, PALACE ROAD, BENGALURU
AIBPARC , presided by Mr K.V. Acharya , has completed ten years after it was sponsored by AIBOC . The membership of AIBPARC is open for bank retirees of all cadres .
Dated 21.11.2022 : All India Bank Pensioners & Retirees Confederation ( AIBPARC ) will hold a triennial General Body Conference on the Saturday & Sunday 28th & 29th , January 2023 in Bengaluru .
The venue proposed for the meeting is
JNANA JYOTHI AUDITORIUM , BENGALURU CITY UNIVERSITY,
CENTRAL COLLEGE CAMPUS, PALACE ROAD, BENGALURU
AIBPARC , presided by Mr K.V. Acharya , has completed ten years after it was sponsored by AIBOC . The membership of AIBPARC is open for bank retirees of all cadres .
IBA MEETS AIBPARC REPRESENTATIVES TO DISCUSS PENSIONERS ISSUES
Dated 12.10.2022 : Indian Bankers Association ( IBA ) met the office bearers of AIBPARC ( All India Bank Pensioners & Retirees Confederation ) yesterday . In the meeting the AIBPARC representatives put up the following issues concerning the bank retirees :
1.Updation of Pension for all who are eligible upto 11th Bipartite Settlement.
2.100 per cent DA neutralization to pre November 2002 Retirees.
3.Mediclaim insurance cover for Retirees-- premium to be borne by Banks.
4.Special allowance to reckon for superannuation benefits viz. Pension and Gratuity.
5.Option for pension for the resignees who completed Pensionable service.
6.Improvement in Ex-gratia for Pre-1986 Retirees / Surviving spouses.
7.Consultative status for Retirees' Organisations.
The meeting was attended by Mr K.V.Acharya , president and Mr Suprita Sarkar , General secretary along with other representatives of the Retirees association . They had also met the Finance Minister Ms Nirmala Sitharaman on 4th , October to put forth the demands of the retirees .
Dated 12.10.2022 : Indian Bankers Association ( IBA ) met the office bearers of AIBPARC ( All India Bank Pensioners & Retirees Confederation ) yesterday . In the meeting the AIBPARC representatives put up the following issues concerning the bank retirees :
1.Updation of Pension for all who are eligible upto 11th Bipartite Settlement.
2.100 per cent DA neutralization to pre November 2002 Retirees.
3.Mediclaim insurance cover for Retirees-- premium to be borne by Banks.
4.Special allowance to reckon for superannuation benefits viz. Pension and Gratuity.
5.Option for pension for the resignees who completed Pensionable service.
6.Improvement in Ex-gratia for Pre-1986 Retirees / Surviving spouses.
7.Consultative status for Retirees' Organisations.
The meeting was attended by Mr K.V.Acharya , president and Mr Suprita Sarkar , General secretary along with other representatives of the Retirees association . They had also met the Finance Minister Ms Nirmala Sitharaman on 4th , October to put forth the demands of the retirees .
IBA TAKES DIVERSE POSITIONS IN THE MATTER OF PENSION UPDATION :
Dated 16.09.2022 : Indian Bankers Association , on the one hand , invited representatives of UFBU for a meeting on 23rd September 2022 for a discussion on residual matters of wage settlements which includes Pension updation . On the other hand , it is reported that it has submitted an affidavit in a court case in the Supreme Court stating " it would neither be appropriate nor possible for the Banks to consider the request of the Representation/Claim requesting for Updation of Pension. "
The reason submitted by the IBA is " That there is no provision in Pension Regulations in 1995 (BEPR, 1995) for any Updation in the Pension of Bank Employees and Officers. That, therefore, it would neither be appropriate in-principle nor would be financially viable for the Banks to accept the Representation/Claim of the Employees for Updation of Pension at par with Central Government Employees, particularly, when there is no parity between the two set of Employees i.e. the Central Government Employees and Bank Employees, inter-alia,for the reasons that the Pension in the Banks is paid out of Pension Funds created out of the Banks contribution to the PF, whereas, in respect of Central Government Employees the Pension is paid NOT out of Pension Fund but is treated as Revenue Expenditure and paid out of Budgetary
Allocation. "
We have to to wait and see the reaction of UFBU and Retirees associations with regard to the IBA statement .
OUR VIEW : Normally parties take tough stand in a court case as a tactic , while they can negotiate for an amicable settlement outside the court . Even courts encourage out of court settlements . Hence it's not surprising that IBA is taking very harsh and negative stand in the court , while inviting unions for a negotiation . Bank retirees need not become unduly panic and unions should continue for a negotiated settlement . In fact unions may also fight in the court for an early settlement , while keeping negotiation doors wide open .
Dated 16.09.2022 : Indian Bankers Association , on the one hand , invited representatives of UFBU for a meeting on 23rd September 2022 for a discussion on residual matters of wage settlements which includes Pension updation . On the other hand , it is reported that it has submitted an affidavit in a court case in the Supreme Court stating " it would neither be appropriate nor possible for the Banks to consider the request of the Representation/Claim requesting for Updation of Pension. "
The reason submitted by the IBA is " That there is no provision in Pension Regulations in 1995 (BEPR, 1995) for any Updation in the Pension of Bank Employees and Officers. That, therefore, it would neither be appropriate in-principle nor would be financially viable for the Banks to accept the Representation/Claim of the Employees for Updation of Pension at par with Central Government Employees, particularly, when there is no parity between the two set of Employees i.e. the Central Government Employees and Bank Employees, inter-alia,for the reasons that the Pension in the Banks is paid out of Pension Funds created out of the Banks contribution to the PF, whereas, in respect of Central Government Employees the Pension is paid NOT out of Pension Fund but is treated as Revenue Expenditure and paid out of Budgetary
Allocation. "
We have to to wait and see the reaction of UFBU and Retirees associations with regard to the IBA statement .
OUR VIEW : Normally parties take tough stand in a court case as a tactic , while they can negotiate for an amicable settlement outside the court . Even courts encourage out of court settlements . Hence it's not surprising that IBA is taking very harsh and negative stand in the court , while inviting unions for a negotiation . Bank retirees need not become unduly panic and unions should continue for a negotiated settlement . In fact unions may also fight in the court for an early settlement , while keeping negotiation doors wide open .
WAGE SETTLEMENT - RESIDUAL ISSUES : IBA HAS SCHEDULED NEXT MEETING ON 23.09.2022 . For Details , CLICK HERE
Bank pensioners DA set for hike from AUGUST 2022
.BANK PENSIONERS DA WILL GO UP BY 55 SLABS FROM AUGUST 2022
Dated 30.07.2022 : The average consumer index points have increased in the quarter ending June 2022 to 8495 from earlier average of 8,240 points . Accordingly the DA slabs have gone up by 55 slabs .
In tune with raising Consumer Price Index noted , the Dearness Allowance ( DA ) payable to bank pensioners from August 2022 to January 2023 will be enhanced by 55 slabs .New DA Rates from August 2022 to January 2023 for pensioners retired earlier is as follows :
1. Pensioners retired after 31.10 2017 : 36.82 % of Basic Pay ( 526 slabs over 6352 points )
2. Pensioners retired between 01.11.2012 to 31.10 2017 : 100.40 % of Basic pension ( 1004 slabs over 4440 points )
1. Pensioners retired between 01.11.2007 to 31.10 2012 : 210.75 % of Basic pension ( 1405 slabs over 2836 points)
2. Pensioners retired between 01.11.2002 to 31.10 2007 : 277.56 % of Basic pension ( 1542 slabs over 2288 points )
3. Pensioners retired between 01.04 .1998 to 31.10 2002 :
a. Up to Basic pension Rs 3,550 : 406.32 %
b. Basic pension between Rs 3,551 to Rs 5,650 : Rs 13,325.28 + 338.60 % of Basic pension exceeding Rs 3,550
c. Basic pension between Rs 5,651 to Rs 6,010 : Rs 19,894.08 + 203.16 % of Basic pension exceeding Rs 5,650
d. Basic pension above Rs 6,010 : Rs 20,569 .72 + 101.58 % of Basic pension exceeding Rs 6,010
Similarly the pensioners retired earlier will also get DA enhancement .
For DA payable to surviving spouses of bank retirees , CLICK HERE
To know about working bankers DA hike , click here
To read AIBEA Circular , click here
To read IBA CIRCULAR dated 01st , August 2022 , CLICK HERE
Dated 30.07.2022 : The average consumer index points have increased in the quarter ending June 2022 to 8495 from earlier average of 8,240 points . Accordingly the DA slabs have gone up by 55 slabs .
In tune with raising Consumer Price Index noted , the Dearness Allowance ( DA ) payable to bank pensioners from August 2022 to January 2023 will be enhanced by 55 slabs .New DA Rates from August 2022 to January 2023 for pensioners retired earlier is as follows :
1. Pensioners retired after 31.10 2017 : 36.82 % of Basic Pay ( 526 slabs over 6352 points )
2. Pensioners retired between 01.11.2012 to 31.10 2017 : 100.40 % of Basic pension ( 1004 slabs over 4440 points )
1. Pensioners retired between 01.11.2007 to 31.10 2012 : 210.75 % of Basic pension ( 1405 slabs over 2836 points)
2. Pensioners retired between 01.11.2002 to 31.10 2007 : 277.56 % of Basic pension ( 1542 slabs over 2288 points )
3. Pensioners retired between 01.04 .1998 to 31.10 2002 :
a. Up to Basic pension Rs 3,550 : 406.32 %
b. Basic pension between Rs 3,551 to Rs 5,650 : Rs 13,325.28 + 338.60 % of Basic pension exceeding Rs 3,550
c. Basic pension between Rs 5,651 to Rs 6,010 : Rs 19,894.08 + 203.16 % of Basic pension exceeding Rs 5,650
d. Basic pension above Rs 6,010 : Rs 20,569 .72 + 101.58 % of Basic pension exceeding Rs 6,010
Similarly the pensioners retired earlier will also get DA enhancement .
For DA payable to surviving spouses of bank retirees , CLICK HERE
To know about working bankers DA hike , click here
To read AIBEA Circular , click here
To read IBA CIRCULAR dated 01st , August 2022 , CLICK HERE
RENEWAL OF GROUP INSURANCE POLICY FOR BANK RETIREES :
UFBU suggests Merging of policies for staff and Retirees , and request banks to bear the cost :
Dated 09.07.2022 : The group insurance policy taken for bank retirees will expire on 31.10.2022 . The present policy is taken with National Insurance Company .
IBA had constituted a committee of CGMS/ GMS of various public sector banks to handle the issue of renewal of group health insurance policy . A meeting between the committee and UBFU was held on 8th , June , 2002 to discuss the issues involving group policy especially for retirees .
Now UFBU has come out with the various suggestions including clubbing of policies for staff and retirees . It has also urged IBA to bear the expenses for the combined policy as the cost involved for retirees may be borne out of staff welfare fund . The other modifications suggested by UFBU are
1. The existing uniform rate of bed charges/room rent per day at Rs. 5000 uniformly applicable all over the country may be revised and re-fixed in a graded manner according to the areas like, metro, urban, semi-urban, etc. or based on population bracket of the centres.
2. For certain specific treatments, some ceiling or cap may be worked out, if found necessary.
3. The Basic policy can be designed to cover all treatments of normal diseases, surgical treatments but exclude very major and complicated surgical treatments like kidney transplantation, major heart/brain surgeries, etc.
4. These complicated surgeries and otherwise uncommon treatments in the normal course may be made optional at the choice of the insured and at additional premium.
5. The policy relating to in-service employees and retirees can be clubbed together as a single composite Policy with Part I for in-service employees and Part II for retirees.
6. While Part I of the Policy will be applicable to in-service employees and officers, Part II of the Policy to be made applicable to retirees.
7. Part I of the Policy can cover insured amount as per existing Settlement and for Part II applicable to retirees, a separate graded and minimum basic sum assured can be mutually worked out.
8. The premium on this composite and combined Policy to be paid by the respective Banks. As per Government guidelines to Banks F. No. 12/6/32/2006-IR dated 7-2-2007 and IBA communication to Banks No. PD/76/674/ 2006-07/1330 dated 28-2-2007, Banks were advised to allocate a portion of the Staff Welfare Fund towards welfare of retirees. Hence Banks would not find it difficult to pay the premium of
the Policy up to the Basic sum assured.
9. Over and above this, other flexible and additional cover may be offered by the Insurance Companies on an optional basis, for which the retirees would bear the cost of such additional premium.
10. Since medical expenses are not directly related to consumption of goods and services by the insured, Government to be approached for exemption of GST on the premium.
UFBU suggests Merging of policies for staff and Retirees , and request banks to bear the cost :
Dated 09.07.2022 : The group insurance policy taken for bank retirees will expire on 31.10.2022 . The present policy is taken with National Insurance Company .
IBA had constituted a committee of CGMS/ GMS of various public sector banks to handle the issue of renewal of group health insurance policy . A meeting between the committee and UBFU was held on 8th , June , 2002 to discuss the issues involving group policy especially for retirees .
Now UFBU has come out with the various suggestions including clubbing of policies for staff and retirees . It has also urged IBA to bear the expenses for the combined policy as the cost involved for retirees may be borne out of staff welfare fund . The other modifications suggested by UFBU are
1. The existing uniform rate of bed charges/room rent per day at Rs. 5000 uniformly applicable all over the country may be revised and re-fixed in a graded manner according to the areas like, metro, urban, semi-urban, etc. or based on population bracket of the centres.
2. For certain specific treatments, some ceiling or cap may be worked out, if found necessary.
3. The Basic policy can be designed to cover all treatments of normal diseases, surgical treatments but exclude very major and complicated surgical treatments like kidney transplantation, major heart/brain surgeries, etc.
4. These complicated surgeries and otherwise uncommon treatments in the normal course may be made optional at the choice of the insured and at additional premium.
5. The policy relating to in-service employees and retirees can be clubbed together as a single composite Policy with Part I for in-service employees and Part II for retirees.
6. While Part I of the Policy will be applicable to in-service employees and officers, Part II of the Policy to be made applicable to retirees.
7. Part I of the Policy can cover insured amount as per existing Settlement and for Part II applicable to retirees, a separate graded and minimum basic sum assured can be mutually worked out.
8. The premium on this composite and combined Policy to be paid by the respective Banks. As per Government guidelines to Banks F. No. 12/6/32/2006-IR dated 7-2-2007 and IBA communication to Banks No. PD/76/674/ 2006-07/1330 dated 28-2-2007, Banks were advised to allocate a portion of the Staff Welfare Fund towards welfare of retirees. Hence Banks would not find it difficult to pay the premium of
the Policy up to the Basic sum assured.
9. Over and above this, other flexible and additional cover may be offered by the Insurance Companies on an optional basis, for which the retirees would bear the cost of such additional premium.
10. Since medical expenses are not directly related to consumption of goods and services by the insured, Government to be approached for exemption of GST on the premium.
FAMILY PENSION : CLARIFICATION ON MINIMUM PAYABLE
Dated 05.07.2022 : Ceiling on Family Pension was removed and an uniform 30% without any ceiling , effective from 01.04.2021 . Earlier family pensions were administered with 10 % , 20 % 0r 30% with an upper ceiling and a minimum family pension payable .
Now some banks had sought clarification with IBA with regard to minimum pension payable to the family pensioners as some pensioners would be affected by removal of minimum payable . IBA has clarified that the earlier guidelines will continue in all the matters relating to family pension as per earlier guidelines except for implementation of 30 % uniform rate of salary of the deceased employee without any ceiling . Hence minimum family pension as per the earlier guidelines will continue and there will be no reduction of family pension on account of new guidelines .
Source: AIBEA CIRCULAR DATED 04.07.2022
Dated 05.07.2022 : Ceiling on Family Pension was removed and an uniform 30% without any ceiling , effective from 01.04.2021 . Earlier family pensions were administered with 10 % , 20 % 0r 30% with an upper ceiling and a minimum family pension payable .
Now some banks had sought clarification with IBA with regard to minimum pension payable to the family pensioners as some pensioners would be affected by removal of minimum payable . IBA has clarified that the earlier guidelines will continue in all the matters relating to family pension as per earlier guidelines except for implementation of 30 % uniform rate of salary of the deceased employee without any ceiling . Hence minimum family pension as per the earlier guidelines will continue and there will be no reduction of family pension on account of new guidelines .
Source: AIBEA CIRCULAR DATED 04.07.2022
PENSION UPDATION AND IMPROVEMENT OF PENSION SCHEME :
UFBU discusses the subject with IBA :
Dated 03.07.2022 : In the meeting held between IBA and UFBU , UFBU has taken up the following issues relating to pensioners like updation of pension , improvement of pension scheme and income tax exemption on retirement benefits .
UPDATION OF PENSION : IBA told that proposition involves additional cost . Already banks are making additional provisions to meet the shortfall of pension funds . UFBU demanded ex-gratia payment to pre 1986 retirees and improvement of pension for all retirees up to 1st , November 2002 . For retirees after 1.11.2022 , additional cost may be taken out and spread over . As no decision were arrived at , discussions will continue
IMPROVE IN PENSION SCHEME : Other issues discussed included that of Inclusion of a clause allowing periodic updation of pension along with bipartite settlements , full pension of 50% for those retired after 20 years of service , calculation of retirement both on last 10 months pay and the last pay for allowing the most beneficial to the retirees . IBA wanted more time to study and get approval from the government
EXEMPTION OF RETIREMENT BENEFITS FROM INCOME TAX : IBA agreed to take up the matter with the government .
SOURCE : UFBU circular dated 02.07.2022
UFBU discusses the subject with IBA :
Dated 03.07.2022 : In the meeting held between IBA and UFBU , UFBU has taken up the following issues relating to pensioners like updation of pension , improvement of pension scheme and income tax exemption on retirement benefits .
UPDATION OF PENSION : IBA told that proposition involves additional cost . Already banks are making additional provisions to meet the shortfall of pension funds . UFBU demanded ex-gratia payment to pre 1986 retirees and improvement of pension for all retirees up to 1st , November 2002 . For retirees after 1.11.2022 , additional cost may be taken out and spread over . As no decision were arrived at , discussions will continue
IMPROVE IN PENSION SCHEME : Other issues discussed included that of Inclusion of a clause allowing periodic updation of pension along with bipartite settlements , full pension of 50% for those retired after 20 years of service , calculation of retirement both on last 10 months pay and the last pay for allowing the most beneficial to the retirees . IBA wanted more time to study and get approval from the government
EXEMPTION OF RETIREMENT BENEFITS FROM INCOME TAX : IBA agreed to take up the matter with the government .
SOURCE : UFBU circular dated 02.07.2022
AIBEA SEEKS GST CONCESSION ON GROUP INSURANCE PREMIUM FOR RETIREES
Dated 28.06.2022 : In a letter addressed to the Finance Minister Ms Nirmala Sitharaman , AIBEA ( All India Bank Employees Association ) has urged the FM to consider extension of concession / waiver on GST added to the premium payable by Bank retirees on the Group insurance policy .
The letter details how the group insurance policy was introduced as a welfare measure to the retirees and how the steep premium hike that has taken place in the recent years on the group insurance policies . Along with steep hike in the premium , GST component has also grown proportionately and bank retirees are paying up to Rs 6,597 as GST alone along with annual premium up to Rs 36,652 for a mere Rs 4.00 lakhs insurance . Hence AIBEA has requested the FM to consider the plea sympathetically and offer some relief to the bank retirees on GST component .
We have to wait and see the response of the FM on the plea .
To read AIBEA letter dated 28.06.2022 , CLICK HERE
Dated 28.06.2022 : In a letter addressed to the Finance Minister Ms Nirmala Sitharaman , AIBEA ( All India Bank Employees Association ) has urged the FM to consider extension of concession / waiver on GST added to the premium payable by Bank retirees on the Group insurance policy .
The letter details how the group insurance policy was introduced as a welfare measure to the retirees and how the steep premium hike that has taken place in the recent years on the group insurance policies . Along with steep hike in the premium , GST component has also grown proportionately and bank retirees are paying up to Rs 6,597 as GST alone along with annual premium up to Rs 36,652 for a mere Rs 4.00 lakhs insurance . Hence AIBEA has requested the FM to consider the plea sympathetically and offer some relief to the bank retirees on GST component .
We have to wait and see the response of the FM on the plea .
To read AIBEA letter dated 28.06.2022 , CLICK HERE
UFBU suggestions on Group Insurance Policy renewal
RENEWAL OF GROUP INSURANCE POLICY FOR BANK RETIREES :
UFBU suggests Changes :
Dated 11.06.2022 : The group insurance policy taken for bank retirees will expire on 31.10.2022 . The present policy is taken with National Insurance Company .
IBA has constituted a committee of CGMS/ GMS of various public sector banks to handle the issue of renewal of group health insurance policy and the committee had called for a meeting with various constituents of UFBU ( except BEFI ) to discuss the issue on the Wednesday 08th , June 2022 at their office of IBA in Mumbai . The meeting was called to find ways and means of reducing the premium burden on the bank retirees , as premiums have escalated in the last few years and has become unbearable .
In the meeting UFBU representatives have suggested graded rates for bed charges depending up on the place where hospital is situated depending up on Rural , semi-urban or urban center . It has also suggested capping on certain medical packages . Presently the ccap per bed charges for a day is fixed at Rs 5,000 uniformly irrespective of nature of the center .
As the meeting was preliminary in nature , further discussions are expected .
Source : UFBU Circular
UFBU suggests Changes :
Dated 11.06.2022 : The group insurance policy taken for bank retirees will expire on 31.10.2022 . The present policy is taken with National Insurance Company .
IBA has constituted a committee of CGMS/ GMS of various public sector banks to handle the issue of renewal of group health insurance policy and the committee had called for a meeting with various constituents of UFBU ( except BEFI ) to discuss the issue on the Wednesday 08th , June 2022 at their office of IBA in Mumbai . The meeting was called to find ways and means of reducing the premium burden on the bank retirees , as premiums have escalated in the last few years and has become unbearable .
In the meeting UFBU representatives have suggested graded rates for bed charges depending up on the place where hospital is situated depending up on Rural , semi-urban or urban center . It has also suggested capping on certain medical packages . Presently the ccap per bed charges for a day is fixed at Rs 5,000 uniformly irrespective of nature of the center .
As the meeting was preliminary in nature , further discussions are expected .
Source : UFBU Circular
AIBEA Circular on pension updation / DA updation
Dated 31.01.2022 : The average consumer index points have increased in the quarter ending December 2021 to 8239.24 from earlier average of 8088 points . Accordingly the DA slabs have gone up by 37 slabs from 434 slabs to 471 .
In tune with raising Consumer Price Index noted , the Dearness Allowance ( DA ) payable to bank pensioners from February 2022 to July 2022 will be enhanced by 37 slabs .New DA Rates from February 2022 to July 2022 for pensioners retired earlier is as follows :
1. Pensioners retired after 31.10 2017 : 32.97 % of Basic Pay ( 471 slabs over 6352 points )
2. Pensioners retired between 01.11.2012 to 31.10 2017 : 94.90 % of Basic pension ( 949 slabs over 4440 points )
1. Pensioners retired between 01.11.2007 to 31.10 2012 : 202.50 % of Basic pension ( 1350 slabs over 2836 points)
2. Pensioners retired between 01.11.2002 to 31.10 2007 : 267.66 % of Basic pension ( 1487 slabs over 2288 points )
3. Pensioners retired between 01.04 .1998 to 31.10 2002 :
a. Up to Basic pension Rs 3,550 : 393.12 %
b. Basic pension between Rs 3,551 to Rs 5,650 : Rs 13,325.28 + 327.60 % of Basic pension exceeding Rs 3,550
c. Basic pension between Rs 5,651 to Rs 6,010 : Rs 19,894.08 + 196.56 % of Basic pension exceeding Rs 5,650
d. Basic pension above Rs 6,010 : Rs 20,569 .72 + 98.28 % of Basic pension exceeding Rs 6,010
Similarly the pensioners retired earlier will also get DA enhancement .
SOURCE: AIBEA circular . AND UPDATED OFFICIAL CIRCULAR FROM IBA
In tune with raising Consumer Price Index noted , the Dearness Allowance ( DA ) payable to bank pensioners from February 2022 to July 2022 will be enhanced by 37 slabs .New DA Rates from February 2022 to July 2022 for pensioners retired earlier is as follows :
1. Pensioners retired after 31.10 2017 : 32.97 % of Basic Pay ( 471 slabs over 6352 points )
2. Pensioners retired between 01.11.2012 to 31.10 2017 : 94.90 % of Basic pension ( 949 slabs over 4440 points )
1. Pensioners retired between 01.11.2007 to 31.10 2012 : 202.50 % of Basic pension ( 1350 slabs over 2836 points)
2. Pensioners retired between 01.11.2002 to 31.10 2007 : 267.66 % of Basic pension ( 1487 slabs over 2288 points )
3. Pensioners retired between 01.04 .1998 to 31.10 2002 :
a. Up to Basic pension Rs 3,550 : 393.12 %
b. Basic pension between Rs 3,551 to Rs 5,650 : Rs 13,325.28 + 327.60 % of Basic pension exceeding Rs 3,550
c. Basic pension between Rs 5,651 to Rs 6,010 : Rs 19,894.08 + 196.56 % of Basic pension exceeding Rs 5,650
d. Basic pension above Rs 6,010 : Rs 20,569 .72 + 98.28 % of Basic pension exceeding Rs 6,010
Similarly the pensioners retired earlier will also get DA enhancement .
SOURCE: AIBEA circular . AND UPDATED OFFICIAL CIRCULAR FROM IBA
BANKPENSIONERS NEWS
Kind Attention BANK PENSIONER Groups : Many bank pensioners and retirees have formed various groups in Google , Facebook and What's app . We invite them to share the contents of this page to their members in the respective groups .
Bank retirees pension updation latest News
UFBU TO PURSUE PENSION UPDATION ISSUE
Dated 15.11.2021 : It is reported that UFBU , in their recent meet held in Mumbai , has decided to follow up on the issue of pension updation and other residual issues with the Chairman of IBA . It will submit a memorandum to him seeking early discussion of the following issues :
1. All Residual issues
2. Updation of pension
3. Medical Insurance scheme for retirees
4. FAQ on issues referred by banks on wage settlement .
UFBU has also decided to run a campaign against privatisation of banks by submitting petition to the Prime Minister , Dharna in all states during Parliament Session and Dharna before parliament .
Dated 15.11.2021 : It is reported that UFBU , in their recent meet held in Mumbai , has decided to follow up on the issue of pension updation and other residual issues with the Chairman of IBA . It will submit a memorandum to him seeking early discussion of the following issues :
1. All Residual issues
2. Updation of pension
3. Medical Insurance scheme for retirees
4. FAQ on issues referred by banks on wage settlement .
UFBU has also decided to run a campaign against privatisation of banks by submitting petition to the Prime Minister , Dharna in all states during Parliament Session and Dharna before parliament .
Bank Family Pension latest News
ENHANCEMENT OF FAMILY PENSION : RBI CLEARS THE DECK
05.10.2021 : Reserve Bank of India ( RBI ) has permitted banks to amortize the expense incurred by them for making payment of enhanced Family Pension . RBI has permitted the banks to amortize the expenses for 5 years from the Financial year 2021-22 and asked the bank to take 20% of the expenses incurred to the Profit & Loss account each year .
Normally the additional liability on account of revision in family pension should be fully charged to the Profit and Loss Account in the current financial year. But, IBA had advised RBI that it would be difficult for some banks to absorb the large amount involved in a single year. Hence RBI has permitted amortization as a special case . The move will help the banks to disburse family pension along with arrears without troubling the financial statements of the bank totally this year .
. It is expected that the enhancement of family pension would make family pension go up to as much as Rs 30,000 to Rs 35,000 per family of bank employees.
To read RBI Notification in this regard , CLICK HERE
05.10.2021 : Reserve Bank of India ( RBI ) has permitted banks to amortize the expense incurred by them for making payment of enhanced Family Pension . RBI has permitted the banks to amortize the expenses for 5 years from the Financial year 2021-22 and asked the bank to take 20% of the expenses incurred to the Profit & Loss account each year .
Normally the additional liability on account of revision in family pension should be fully charged to the Profit and Loss Account in the current financial year. But, IBA had advised RBI that it would be difficult for some banks to absorb the large amount involved in a single year. Hence RBI has permitted amortization as a special case . The move will help the banks to disburse family pension along with arrears without troubling the financial statements of the bank totally this year .
. It is expected that the enhancement of family pension would make family pension go up to as much as Rs 30,000 to Rs 35,000 per family of bank employees.
To read RBI Notification in this regard , CLICK HERE
Pension News
BANKERS PENSION REVISION: RAJYASABHA COMMITTEE VISITS BHUBANESHWAR AND KOLKATTA
Dated 23.09.2021 : It is reported that a Rajya sabha committee has visited Bhabaneshwar in Orissa and Kolkatta in West Bengal as a study tour to examine the assurance given with regard to revision of pension of retired bank employees in reference to 11th Bipartite agreement signed between UFBU and IBA .
The committee had a schedule of meeting representatives of some banks & IBA in the matter on 20.09.2021 at Bhubaneshwar & 23.09.2021 at Kolkata . Representatives of Union bank of India , Indian Overseas Bank and Indian Bank were to meet the committee at Bhubaneshwar while Representatives of UCO Bank , Indian Bank & Punjab National bank are to meet the committee in Kolkatta .
Further it is reported that representatives of various Bank retirees associations have also met and have submitted their memorandum and demands the committee members of the Rajya Sabha .
Dated 23.09.2021 : It is reported that a Rajya sabha committee has visited Bhabaneshwar in Orissa and Kolkatta in West Bengal as a study tour to examine the assurance given with regard to revision of pension of retired bank employees in reference to 11th Bipartite agreement signed between UFBU and IBA .
The committee had a schedule of meeting representatives of some banks & IBA in the matter on 20.09.2021 at Bhubaneshwar & 23.09.2021 at Kolkata . Representatives of Union bank of India , Indian Overseas Bank and Indian Bank were to meet the committee at Bhubaneshwar while Representatives of UCO Bank , Indian Bank & Punjab National bank are to meet the committee in Kolkatta .
Further it is reported that representatives of various Bank retirees associations have also met and have submitted their memorandum and demands the committee members of the Rajya Sabha .
RENEWAL OF GROUP INSURANCE FOR BANK EMPLOYEES AND RETIREES FINALISED
Dated 18.09.2021 : Indian Bankers Association ( IBA ) has advised member banks to continue renewal of the group insurance health policy for bank employees with National Insurance Company , from 01.10.2021 for one year till 30.09.2022 .
FOR SERVING BANK EMPLOYEES / OFFICERS :
The premium will be paid by the bankers for the basic policy : Award staff Rs 3.00 lakhs and Officers Rs 4.00 lakhs :
However clerical staff will have to pay for super top up policy for total cover of Rs 7.00 lakhs a premium of RS 5,567 invclusive of GST . Similarly officers have to pay a premium of Rs 6,957 inclusive of GST if they opt for a total cover of Rs 9.00 lakhs for the super top up policy .
GROUP POLICY FOR RETIREE BANK EMPLOYEES / OFFICERS :
Retiree staff and officers can renew the group insurance policy , which will expire on 31.10.2021 at the following cost with the National insurance company as follows :
1. Retired clerical staff for a cover of Rs 3.00 lakhs at the premium of Rs 28,715 ( Plus GST ) without domiciliary and Rs 55,175 + GST with domiciliary
2. Retired officers for a cover of Rs 4.00 lakhs at the premium of Rs 36, 652 ( plus GST ) without domiciliary and Rs 72,917 + GST with domiciliary
The premium structure higher by 40.02 % for the clerical staff to the premiums paid during the last year ( without domiciliary ) and 8.41 % for the policy with domiciliary .
The premium structure higher by 34.05 % for the retired officers to the premiums paid during the last year ( without domiciliary ) and 7.46 % for the policy with domiciliary
The new policy for the retirees with National insurance co ltd will be effective from 01.11.2021 for one year . It is reported that the insurance company will directly inform the individual banks with regard to multiple policy variants for premiums
Rs 1 .00 lakh , Rs 2.00 lakh and Rs 3.00 lakhs . Further details regarding change of terms & conditions if any and Top up policy / other information are awaited and we will report as soon as we have information .
UPDATED BLOG ARTICLE ON
RETIRED BANKERS AND HEALTH INSURANCE along with multiple option Premium Chart
CLICK HERE
Dated 18.09.2021 : Indian Bankers Association ( IBA ) has advised member banks to continue renewal of the group insurance health policy for bank employees with National Insurance Company , from 01.10.2021 for one year till 30.09.2022 .
FOR SERVING BANK EMPLOYEES / OFFICERS :
The premium will be paid by the bankers for the basic policy : Award staff Rs 3.00 lakhs and Officers Rs 4.00 lakhs :
However clerical staff will have to pay for super top up policy for total cover of Rs 7.00 lakhs a premium of RS 5,567 invclusive of GST . Similarly officers have to pay a premium of Rs 6,957 inclusive of GST if they opt for a total cover of Rs 9.00 lakhs for the super top up policy .
GROUP POLICY FOR RETIREE BANK EMPLOYEES / OFFICERS :
Retiree staff and officers can renew the group insurance policy , which will expire on 31.10.2021 at the following cost with the National insurance company as follows :
1. Retired clerical staff for a cover of Rs 3.00 lakhs at the premium of Rs 28,715 ( Plus GST ) without domiciliary and Rs 55,175 + GST with domiciliary
2. Retired officers for a cover of Rs 4.00 lakhs at the premium of Rs 36, 652 ( plus GST ) without domiciliary and Rs 72,917 + GST with domiciliary
The premium structure higher by 40.02 % for the clerical staff to the premiums paid during the last year ( without domiciliary ) and 8.41 % for the policy with domiciliary .
The premium structure higher by 34.05 % for the retired officers to the premiums paid during the last year ( without domiciliary ) and 7.46 % for the policy with domiciliary
The new policy for the retirees with National insurance co ltd will be effective from 01.11.2021 for one year . It is reported that the insurance company will directly inform the individual banks with regard to multiple policy variants for premiums
Rs 1 .00 lakh , Rs 2.00 lakh and Rs 3.00 lakhs . Further details regarding change of terms & conditions if any and Top up policy / other information are awaited and we will report as soon as we have information .
UPDATED BLOG ARTICLE ON
RETIRED BANKERS AND HEALTH INSURANCE along with multiple option Premium Chart
CLICK HERE
New Updated Article :
TAX PLANNING FOR FY 2021-22 ( AY 2022-23 )
Comprehensive Article on Income tax changes in Rules, Rates , Slabs , Rebates and Estimation
CLICK HERE TO READ
TAX PLANNING FOR FY 2021-22 ( AY 2022-23 )
Comprehensive Article on Income tax changes in Rules, Rates , Slabs , Rebates and Estimation
CLICK HERE TO READ
Bank Family Pension Revision
- ENHANCEMENT OF FAMILY PENSION AND NPS CONTIBUTION APPROVED : DFS
25.08.2021 : It is reported that enhancement of Family Pension and employer's contribution to NPS is approved by the Financial Minister Ms Nirmala Sitharaman . Cap on family pension is removed and uniform 30% will be in force .
. This move would make family pension go up to as much as Rs 30,000 to Rs 35,000 per family of bank employees. This was announced by the Secretary, Department of Financial Services, Ministry of Finance, at a press meet addressed by Finance Minister Smt. Nirmala Sitharaman in Mumbai today.
Secretary, DFS informed that, in continuation of the 11th bi-partite settlement on wage revision of public sector bank employees, which was signed by the IBA with the unions on November 11, 2020, there was a proposal for enhancement of family pension and also the employers' contribution under the NPS. This has been approved by the Finance Minister, he said. Shri Panda further said that “earlier the scheme had slabs of 15, 20 and 30 percent of the pay that a pensioner drew at that point of time. It was capped subject to a maximum of Rs 9,284/-. That was a very paltry sum and Finance Minister Smt. Sitharaman was concerned and wanted that to be revised so that family members of bank employees get a decent amount to survive and sustain”.
The Government has also approved the proposal to increase employers contribution under the NPS to 14% from the existing 10%.
Thousands of families of PSU bank employees will be benefited by the enhanced Family Pension, while increase in employers contribution will provide increased financial security to the bank employees under the NPS.
Source : PIB Press release
NEWS UPDATE DATED 26. 08.2021 : EFFECTIVE DATES OF IMPLEMENTATION
It is reported that enhancement of Family pension will be effective from 01.04.2021 . Banks are asked contribute for the NPS at the revised rate of 14 % from 11.11.2020 , the day of signing the wage revision between IBA and UBFU .
NEWS UPDATE 30.08.2021 : AIBEA has issued a detailed circular with regard to new scales of family pension for the spouses of bank retirees who retired in different periods as below :
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Chart published by AIBEA
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News for Bank Pensioners
BANKERS PENSION REVISION: UFBU TO DISCUSS DEVELOPMENTS
Dated 18.08.2021 : It is reported that the United Forum of Bank Unions ( UFBU ) has called a meeting of its constituents on 25th August 2021 at Mumbai to discuss the issue of Pension updation . The officers associations and workmen associations had presented their demands to IBA separately in the month of July . However response of IBA towards proposals is not known yet .
Dated 18.08.2021 : It is reported that the United Forum of Bank Unions ( UFBU ) has called a meeting of its constituents on 25th August 2021 at Mumbai to discuss the issue of Pension updation . The officers associations and workmen associations had presented their demands to IBA separately in the month of July . However response of IBA towards proposals is not known yet .
BANK PENSIONERS DA SET FOR UPWARD REVISION FROM AUGUST 2021
AIBEA Circular on pension updation / DA updation
Dated 30.07.2021 : In tune with raising Consumer Price Index noted , the Dearness Allowance ( DA ) payable to bank pensioners from August 2021 to January 2022 will be enhanced by 23 slabs .New DA Rates for August 2021 to January 2022 for pensioners retired earlier is as follows :
1. Pensioners retired after 31.10 2017 : 27.79 % of Basic Pay ( 397 slabs )
2. Pensioners retired between 01.11.2012 to 31.10 2017 : 87.50 % of Basic pension ( 875 slabs )
1. Pensioners retired between 01.11.2007 to 31.10 2012 : 191.40 % of Basic pension ( 1276 slabs )
2. Pensioners retired between 01.11.2002 to 31.10 2007 : 254.34 % of Basic pension ( 1413 slabs )
3. Pensioners retired between 01.04 .1998 to 31.10 2002 :
a. Up to Basic pension Rs 3,550 : 375.36 %
b. Basic pension between Rs 3,551 to Rs 5,650 : Rs 13,325.28 + 312.80 .20 % of Basic pension exceeding Rs 3,550
c. Basic pension between Rs 5,651 to Rs 6,010 : Rs 19,894.08 + 187.68 % of Basic pension exceeding Rs 5,650
d. Basic pension above Rs 6,010 : Rs 20,569 .72 + 93.84 % of Basic pension exceeding Rs 6,010
Similarly the pensioners retired earlier will also get DA enhancement .
SOURCE: AIBEA circular . UPDATED WITH OFFICIAL CIRCULAR FROM IBA ON 03.08.2021
Dated 30.07.2021 : In tune with raising Consumer Price Index noted , the Dearness Allowance ( DA ) payable to bank pensioners from August 2021 to January 2022 will be enhanced by 23 slabs .New DA Rates for August 2021 to January 2022 for pensioners retired earlier is as follows :
1. Pensioners retired after 31.10 2017 : 27.79 % of Basic Pay ( 397 slabs )
2. Pensioners retired between 01.11.2012 to 31.10 2017 : 87.50 % of Basic pension ( 875 slabs )
1. Pensioners retired between 01.11.2007 to 31.10 2012 : 191.40 % of Basic pension ( 1276 slabs )
2. Pensioners retired between 01.11.2002 to 31.10 2007 : 254.34 % of Basic pension ( 1413 slabs )
3. Pensioners retired between 01.04 .1998 to 31.10 2002 :
a. Up to Basic pension Rs 3,550 : 375.36 %
b. Basic pension between Rs 3,551 to Rs 5,650 : Rs 13,325.28 + 312.80 .20 % of Basic pension exceeding Rs 3,550
c. Basic pension between Rs 5,651 to Rs 6,010 : Rs 19,894.08 + 187.68 % of Basic pension exceeding Rs 5,650
d. Basic pension above Rs 6,010 : Rs 20,569 .72 + 93.84 % of Basic pension exceeding Rs 6,010
Similarly the pensioners retired earlier will also get DA enhancement .
SOURCE: AIBEA circular . UPDATED WITH OFFICIAL CIRCULAR FROM IBA ON 03.08.2021
Pension updation Public Sector banks
BANKERS PENSION REVISION: WORKMEN UNIONS , OFFICERS ASSOCIATIONS PRESENT THEIR DEMANDS TO IBA :
Dated 22.07.2021 : It is reported the IBA committee on pension scheme held a virtual meeting with representatives of workmen / officers on 22nd ,July 2021 today . The meeting was attended by the the chairman Shri S.S.Mallikarjuna rao , MD & CEO of Punjab national Bank and the other members of the committee are Shri M.V Rao of Central Bank of India ( Vice Chairman ) , Sri Om Prakash Mishra of SBI , Shri Debasish Mukherji of Canara Bank and Shri Gopal Murli Bhagat of IBA . Union representatives included Shri C.H .Venkatachalam from AIBEA Shri C.S . Balaji & Sri S.K. Bandish of NCBE , Sri Upendrakumar of NCBW & Sri O.P .Sharma of INBEF .
The union representatives submitted the following demands for pension revision :
1. Pension should be revised along with every settlement for wage revision .
2. Updation of Pensions for retirees between 01.0.1986 to 31.10.2017 should be taken up immediately .
3. Improvement of pension should include Improvement of pension for the pensioners above 80 years , Full pension for retirees who served more than 20 years .
4. Pension at uniform price index of 6352 points .
5. Revision of Ex-gratia pension to pre 1986 retirees .
6. Pension for resigned employees .
7. Improvement of Family Pension to 30 % uniformly and raise of management contribution to 14% from present 10 % under NPS .
8. Calculation of pension either on the average of last 10 months salary or lat month salary and pension for whichever is beneficial .
9 . Clarification on false complaint of diversion of pension funds .
However the reaction of IBA committee is not known and the next meeting is to be awaited for for further developments .
Source : AIBEA CIRCULAR
Further it is reported that the representative Sri Rajan Tulaskar of Bharatiya Karmachari Mahasangh has submitted a separate set of demands / suggestions for revision of pensions .
In an another virtual meeting with representatives of four officers associations viz AIBOC , AIBOA , INBOC & NOBO ,another set of demands has been submitted for the consideration of IBA . They have requested IBA to consider the RBI model of pension revision for all the bankers . They have also requested for the Pension to be revised along with every settlement for wage revision
BANKERS PENSION : IBA FORMS A COMMITTEE , INVITES WORKMEN , OFFICERS ASSOCIATIONS FOR MEETINGS :
Dated 20.07.2021 : It is reported hat Indian Bankers Association ( IBA ) has formed an internal committee to review the pension scheme of the banks under the chairmanship of Shri S.S.Mallikarjuna rao , MD & CEO of Punjab national Bank . The other members of the committee are Shri M.V Rao of Central Bank of India ( Vice Chairman ) , Shri Rana Ashuthosh Kumar Singh of SBI , Shri Shanti Lal Jain of Bank of Baroda and Shri Debasish Mukherji of Canara Bank .
It is also reported that the committee will hold a virtual meeting with representatives of workmen / officers on 22nd ,July 2021 at 11.30 am .
The representatives of AIBEA / NCBE / INBEF / NOBW will attend the meeting . A similar virtual meeting of IBA Committee will be held with the representatives of various officer Associations at 12pm on the same day .
Dated 20.07.2021 : It is reported hat Indian Bankers Association ( IBA ) has formed an internal committee to review the pension scheme of the banks under the chairmanship of Shri S.S.Mallikarjuna rao , MD & CEO of Punjab national Bank . The other members of the committee are Shri M.V Rao of Central Bank of India ( Vice Chairman ) , Shri Rana Ashuthosh Kumar Singh of SBI , Shri Shanti Lal Jain of Bank of Baroda and Shri Debasish Mukherji of Canara Bank .
It is also reported that the committee will hold a virtual meeting with representatives of workmen / officers on 22nd ,July 2021 at 11.30 am .
The representatives of AIBEA / NCBE / INBEF / NOBW will attend the meeting . A similar virtual meeting of IBA Committee will be held with the representatives of various officer Associations at 12pm on the same day .
LATEST ON FAMILY PENSION UPDATION :
Dated 27.06.2021 : There are rumors / unconfirmed reports that Finance Minister has approved the proposal of IBA in the matter of Family pension updation . But there is no official communication from any quarters on this regard so far . As soon as official communication is available , we will update this page for you with details of the information we get .
Dated 27.06.2021 : There are rumors / unconfirmed reports that Finance Minister has approved the proposal of IBA in the matter of Family pension updation . But there is no official communication from any quarters on this regard so far . As soon as official communication is available , we will update this page for you with details of the information we get .
SEND PENSION DETAILS THROUGH SMS, EMAIL & WHATSAPP : Government to Banks
Dated 25.06.2021 : Recently Department of Pension & Pensioners' welfare has asked banks to forward the details of pension slip and amount credited to pensioners by way of SMS to the registered mobile numbers and also by e-mail if the same is registered by the pensioners . It also has asked banks to endaevour to send the details via WhatsApp also . The pension slip should have complete details of monthly pension paid along with the break-up of the amount credited and tax deductions etc. if any
In a recent meeting with pension disbursing banks , department had emphasized the need of taking such welfare measures so that pensioners' lives become comfortable .
Dated 25.06.2021 : Recently Department of Pension & Pensioners' welfare has asked banks to forward the details of pension slip and amount credited to pensioners by way of SMS to the registered mobile numbers and also by e-mail if the same is registered by the pensioners . It also has asked banks to endaevour to send the details via WhatsApp also . The pension slip should have complete details of monthly pension paid along with the break-up of the amount credited and tax deductions etc. if any
In a recent meeting with pension disbursing banks , department had emphasized the need of taking such welfare measures so that pensioners' lives become comfortable .
EXPEDITE FAMILY PENSION CLAIMS : Government to Banks
Dated 19.06.2021 : Department of Pension & Pensioners' welfare has asked banks not to harass the spouse and other family members , in unfortunate cases of pensioners' death . It has asked banks not to demand unnecessary documents from a pensioner's family and harass them with delay in sanctioning family pensions .
It has reiterated that only following documents to be obtained from family pension claimants , if they have joint pension accounts :
1 . A simple letter/application for commencement of family pension
2. Death certificate in respect of the deceased pensioner
3. Copy of PPO issued to the pensioner ( If available )
4. Proof of age/date of birth of the applicant .
No other document including Form 14 to be insisted from the claimants incases where they have joint accounts . In cases where the spouse did not have the joint account with the deceased pensioner , then only Application in Form 14 bearing the Death certificate in respect of the deceased pension along with two witness to be insisted along with the above mentioned documents .
In cases where, on death of the pensioner and spouse, family pension has to pass over to another family member ,
1. If the other family member has been co-authorized for family pension in the PPO, the same procedure as above shall be followed.
2. If the name of the other family member is not included in the PPO, he/she may be advised to approach the office which the Government servant/pensioner last served, for issue of a fresh PPO.
Further Department has asked the banks to furnish reasons for delayed decisions , for any delay in settling family pension beyond 30 days .
Further the department has told the banks that the details of family members, other than the Applicant, are not relevant for commencement of family pension by the bank and the same should not, therefore, be sought from the Applicant under any circumstances .
To read Department's directive to bans issued on 16.06.2021 , CLICK HERE
NOW FORM 10E IS AVAILABLE FOR FILING ON-LINE FOR AY 2021-22
Attn : Bankers / Bank pensioners who have received salary / pension arrears during FY 2020-21
Dated 09.04.2021 : Now Income Tax Department has enabled on-line submission of Form 10E in its e-filing website for Assessment Year 2021-22 . The form is to be submitted by all the persons who want to avail tax relief under section 89 of Income Tax act for the salary / pension arrears received during the financial year 2020-21 .
Note : The form is to be submitted before filing of Income Tax returns .
To know how to submit on-line , calculating the tax relief you get under section 89 of Income Tax act for the arrears you have received , you may CLICK HERE to visit our webpage where we have detailed the calculation of such arrears you get on salary / gratuity / pension and procedure to file 10E on-line .
Attn : Bankers / Bank pensioners who have received salary / pension arrears during FY 2020-21
Dated 09.04.2021 : Now Income Tax Department has enabled on-line submission of Form 10E in its e-filing website for Assessment Year 2021-22 . The form is to be submitted by all the persons who want to avail tax relief under section 89 of Income Tax act for the salary / pension arrears received during the financial year 2020-21 .
Note : The form is to be submitted before filing of Income Tax returns .
To know how to submit on-line , calculating the tax relief you get under section 89 of Income Tax act for the arrears you have received , you may CLICK HERE to visit our webpage where we have detailed the calculation of such arrears you get on salary / gratuity / pension and procedure to file 10E on-line .
TDS ON ARREARS PAID AND TAX RELIEF UNDER SECTION 89 OF IT ACT
Dated 07.02.2021 : Banks have disbursed salary arrears as per new wage settlement . Banks would have also deducted TDS from such arrears paid . Such arrears paid would have been accounted for FY 2020-21 if staff members had not claimed tax relief under section 89 (1 ) of IT Act .
Similarly bank staff who would have retired after 01.11.2017 would have got salary arrears , pension arrears and gratuity arrears . One can utilise tax relief available to reduce the tax burden by apportioning arrears to the respective years and reduce the total tax liability .
To know how to calculate the relief and utilise the reliefs available to the possible extent , you may visit our articles on income tax by clicking here
Dated 07.02.2021 : Banks have disbursed salary arrears as per new wage settlement . Banks would have also deducted TDS from such arrears paid . Such arrears paid would have been accounted for FY 2020-21 if staff members had not claimed tax relief under section 89 (1 ) of IT Act .
Similarly bank staff who would have retired after 01.11.2017 would have got salary arrears , pension arrears and gratuity arrears . One can utilise tax relief available to reduce the tax burden by apportioning arrears to the respective years and reduce the total tax liability .
To know how to calculate the relief and utilise the reliefs available to the possible extent , you may visit our articles on income tax by clicking here
Bank pensiners Latest News / Alert Today
IT'S TIME TO SUBMIT LIFE CERTIFICATE FOR BANK PENSIONERS
ATTN PENSIONERS : LAST DATE FOR FILING LIFE CERTIFICATES IS NEARING
Dated 24.02.2021 : EPFO / Governments and other public sector undertakings have permitted pensioners to submit life certificates up to 28th , February 2021 , in line with directive from Central Government to their pensioners and Pension will be withheld only from March 2021 , if life certificates are not submitted by then .
Normally pensioners have to submit life certificates in the month of November every year for continuation of pension payment from January next year . This year Government extended last date up to 31st, December in view of pandemic situation in the country . It has further extended up to 28th , February for Government pensioners and EPPF pensioners . Public sector undertakings also have now followed Government directives to its pensioners .
Good news for the pensioners is that Post offices ( IPPB ) and DSB services have extended doorstep service for submitting Life certificates through Jeevan praman . We have received favourable reports about IPPB DOOR services through postmen and it costs just Rs 70 .
Retirees who are unable to visit their pension paying offices can utilise such service .
1. IPPB SERVICE : Government of India has brought out the service of digital Life Certificate ( DLC ) using the network of Post Offices / postmen through India post Payment Bank . Postman will visit your place , do the bio-metrics and generate Digital life certificate for you . Service charge is Rs 70 For details , CLICK HERE
2. DSB SERVICE : Door Step Banking ( DSB ) , an initiative taken by PSB Alliance and an umbrella setup of all Public Sector Banks , gives service of issuing Digital life Certificate to the customers of public sector banks at their homes . The service is available in more than 100 centers across India . For details , CLICK HERE
Pensioners can utilize any of the two choices they find convenient .
Dated 24.02.2021 : EPFO / Governments and other public sector undertakings have permitted pensioners to submit life certificates up to 28th , February 2021 , in line with directive from Central Government to their pensioners and Pension will be withheld only from March 2021 , if life certificates are not submitted by then .
Normally pensioners have to submit life certificates in the month of November every year for continuation of pension payment from January next year . This year Government extended last date up to 31st, December in view of pandemic situation in the country . It has further extended up to 28th , February for Government pensioners and EPPF pensioners . Public sector undertakings also have now followed Government directives to its pensioners .
Good news for the pensioners is that Post offices ( IPPB ) and DSB services have extended doorstep service for submitting Life certificates through Jeevan praman . We have received favourable reports about IPPB DOOR services through postmen and it costs just Rs 70 .
Retirees who are unable to visit their pension paying offices can utilise such service .
1. IPPB SERVICE : Government of India has brought out the service of digital Life Certificate ( DLC ) using the network of Post Offices / postmen through India post Payment Bank . Postman will visit your place , do the bio-metrics and generate Digital life certificate for you . Service charge is Rs 70 For details , CLICK HERE
2. DSB SERVICE : Door Step Banking ( DSB ) , an initiative taken by PSB Alliance and an umbrella setup of all Public Sector Banks , gives service of issuing Digital life Certificate to the customers of public sector banks at their homes . The service is available in more than 100 centers across India . For details , CLICK HERE
Pensioners can utilize any of the two choices they find convenient .
- TDS ON ARREARS PAID AND TAX RELIEF UNDER SECTION 89 OF IT ACT
Dated 07.02.2021 : Banks have disbursed salary arrears as per new wage settlement . Banks would have also deducted TDS from such arrears paid . Such arrears paid would have been accounted for FY 2020-21 if staff members had not claimed tax relief under section 89 (1 ) of IT Act .
Similarly bank staff who would have retired after 01.11.2017 would have got salary arrears , pension arrears and gratuity arrears . One can utilise tax relief available to reduce the tax burden by apportioning arrears to the respective years and reduce the total tax liability .
To know how to calculate the relief and utilise the reliefs available to the possible extent , you may visit our articles on income tax by clicking here
BANK PENSIONERS DA RAISES FROM FEBRUARY 2021
Dated 01.02.2021 : In tune with raising Consumer Price Index noted , the Dearness Allowance ( DA ) payable to bank pensioners from February 2021 to July 2021 will be enhanced .New DA Rates for August 2020 to January 2021 for pensioners retired earlier is as follows :
1. Pensioners retired after 31.10 2017 : 26.18 % of Basic Pay
1. Pensioners retired between 01.11.2012 to 31.10 2017 : 85.20 % of Basic pension
1. Pensioners retired between 01.11.2007 to 31.10 2012 : 187.95 % of Basic pension
2. Pensioners retired between 01.11.2002 to 31.10 2007 : 250.20 % of Basic pension
3. Pensioners retired between 01.04 .1998 to 31.10 2002 :
a. Up to Basic pension Rs 3,550 : 369.84 %
b. Basic pension between Rs 3,551 to Rs 5,650 : Rs 13,129.32 + 308.20 % of Basic pension exceeding Rs 3,550
c. Basic pension between Rs 5,651 to Rs 6,010 : Rs 19,601.52 + 184.92 % of Basic pension exceeding Rs 5,650
d. Basic pension above Rs 6,010 : Rs 20,267 .23 + 92.46 % of Basic pension exceeding Rs 6,010
Similarly the pensioners retired earlier will also get DA enhancement .
Source : IBA Circular dated 01.02.2021
1. Pensioners retired after 31.10 2017 : 26.18 % of Basic Pay
1. Pensioners retired between 01.11.2012 to 31.10 2017 : 85.20 % of Basic pension
1. Pensioners retired between 01.11.2007 to 31.10 2012 : 187.95 % of Basic pension
2. Pensioners retired between 01.11.2002 to 31.10 2007 : 250.20 % of Basic pension
3. Pensioners retired between 01.04 .1998 to 31.10 2002 :
a. Up to Basic pension Rs 3,550 : 369.84 %
b. Basic pension between Rs 3,551 to Rs 5,650 : Rs 13,129.32 + 308.20 % of Basic pension exceeding Rs 3,550
c. Basic pension between Rs 5,651 to Rs 6,010 : Rs 19,601.52 + 184.92 % of Basic pension exceeding Rs 5,650
d. Basic pension above Rs 6,010 : Rs 20,267 .23 + 92.46 % of Basic pension exceeding Rs 6,010
Similarly the pensioners retired earlier will also get DA enhancement .
Source : IBA Circular dated 01.02.2021
COST OF PENSION UPDATION IS BEING ACTIVELY EVALUATED : IBA
Dated 05.01.2021 : In a meeting held yesterday with the representatives of four officers unions viz AIBOC , AIBOA , INBOC & NOBO , Indian Bankers Association ( IBA ) has informed that the issue of Pension Updation is being actively evaluated and an Actuary has been appointed for the purpose . IBA chairman while welcoming the representatives of organisations informed that the Family pension and NPS details are being compiled for onwards submission to DFS for necessary clearance and approval. The meeting was called to discuss the residual issues listed in the MOU .
The other residual issues discussed included :
1. 5 DAY BANKING : Under discussion with the Government / RBI
2. Amendment to Discipline & Appeal regulation & Accountability policy : A committee has been formed to advise IBA in the matter .
3. Double Jeopardy ( Denial of PQP , FPP & Stagnation increment for not apperaing for promotion test : HR Committee is examining the issue .
4. Payment of lodging & boarding expenses foe Defence assistants : To be referred to HR Committee .
5. Grid holiday for officers working in grids : HR Committee to examine the issue .
6. Demand for inclusion of parents , brothers , sisters , Father in law , mother in law in Definition of family : IBA will clarify with fresh circular and Income up to Rs 12,000 will be treated as dependent .
7. Issue of lady officers & Child care leave : Government guidelines will be followed .
8 . Temporary incentive for officers posted to North East : Government guidelines will be followed .
Dated 05.01.2021 : In a meeting held yesterday with the representatives of four officers unions viz AIBOC , AIBOA , INBOC & NOBO , Indian Bankers Association ( IBA ) has informed that the issue of Pension Updation is being actively evaluated and an Actuary has been appointed for the purpose . IBA chairman while welcoming the representatives of organisations informed that the Family pension and NPS details are being compiled for onwards submission to DFS for necessary clearance and approval. The meeting was called to discuss the residual issues listed in the MOU .
The other residual issues discussed included :
1. 5 DAY BANKING : Under discussion with the Government / RBI
2. Amendment to Discipline & Appeal regulation & Accountability policy : A committee has been formed to advise IBA in the matter .
3. Double Jeopardy ( Denial of PQP , FPP & Stagnation increment for not apperaing for promotion test : HR Committee is examining the issue .
4. Payment of lodging & boarding expenses foe Defence assistants : To be referred to HR Committee .
5. Grid holiday for officers working in grids : HR Committee to examine the issue .
6. Demand for inclusion of parents , brothers , sisters , Father in law , mother in law in Definition of family : IBA will clarify with fresh circular and Income up to Rs 12,000 will be treated as dependent .
7. Issue of lady officers & Child care leave : Government guidelines will be followed .
8 . Temporary incentive for officers posted to North East : Government guidelines will be followed .
WAGE SETTLEMENT - RESIDUAL ISSUES
Dated 02.01.2021 : It is reported that the representatives of four officers unions viz AIBOC , AIBOA , INBOC & NOBO , have been invited for a meeting with IBA team on 04.01.2021 at 3.00 pm , to discuss the residual issues listed in the MOU .
The residual issues include 5-day banking , pension updation , family pension , NPS contributionetc
Dated 02.01.2021 : It is reported that the representatives of four officers unions viz AIBOC , AIBOA , INBOC & NOBO , have been invited for a meeting with IBA team on 04.01.2021 at 3.00 pm , to discuss the residual issues listed in the MOU .
The residual issues include 5-day banking , pension updation , family pension , NPS contributionetc
PLAN N PROGRESS HAS COMPARED AROGYA SANJEEVANI PREMIUMS WITH IBA GROUP INSURANCE TO KNOW WHICH IS BETTER CLICK HERE
NEW BLOG ARTICLE ON
HEALTH INSURANCE OPTIONS FOR RETIRED BANKERS
The article explores the alternative avenues for existing health insurance group policy for Retired Bankers
TO READ THE ARTICLE CLICK HERE
HEALTH INSURANCE OPTIONS FOR RETIRED BANKERS
The article explores the alternative avenues for existing health insurance group policy for Retired Bankers
TO READ THE ARTICLE CLICK HERE
NEW ARTICLE
HEALTH INSURANCE PLANS FOR SENIOR CITIZENS
WITH OR WITHOUT ENTRY AGE RESTRICTION
TO READ THE ARTICLE CLICK HERE
HEALTH INSURANCE PLANS FOR SENIOR CITIZENS
WITH OR WITHOUT ENTRY AGE RESTRICTION
TO READ THE ARTICLE CLICK HERE
NEW BLOG ARTICLE ON
HEALTH INSURANCE OPTIONS FOR RETIRED BANKERS
The article explores the alternative avenues for existing health insurance group policy for Retired Bankers
TO READ THE ARTICLE CLICK HERE
HEALTH INSURANCE OPTIONS FOR RETIRED BANKERS
The article explores the alternative avenues for existing health insurance group policy for Retired Bankers
TO READ THE ARTICLE CLICK HERE
WEBSITES OF BANKS / BANKERS ASSOCIATION / RESERVE BANK OF INDIA ( CLICK ON THE NAME TO GO TO THE WEBSITE )
1. Reserve Bank of India
2. Indian Bankers Association
3. Ministry of Finance , Government of India
4. To go to websites of individual banks , CLICK HERE
2. Indian Bankers Association
3. Ministry of Finance , Government of India
4. To go to websites of individual banks , CLICK HERE
WEBSITES OF EMPLOYEES / OFFICERS UNIONS / ASSOCIATIONS
( CLICK ON THE NAME TO GO TO THE WEBSITE )
( CLICK ON THE NAME TO GO TO THE WEBSITE )
1. All India Bank Employees Association ( AIBEA )
2. All India Bank Officers Confederation ( AIBOC )
3.All India Bank Officers Association ( AIBOA )
4.All India Reserve Bank Employees Association ( AIRBEA )
5. Bank Employees Federation of India ( BEFI )
2. All India Bank Officers Confederation ( AIBOC )
3.All India Bank Officers Association ( AIBOA )
4.All India Reserve Bank Employees Association ( AIRBEA )
5. Bank Employees Federation of India ( BEFI )
WEBSITES OF VARIOUS ASSOCIATIONS OF RETIRED BANKERS
( CLICK ON THE NAME TO GO TO THE WEBSITE )
( CLICK ON THE NAME TO GO TO THE WEBSITE )
