AIBEA UNION wage revision for bank employees

Indian Bank Association IBA and UFBU United Forum of Bank Unions will hold talks for pay revision of bank employees on 27th November 2009.

The Indian Banks’ Association (IBA) and United Forum of Bank Unions (UFBU) have agreed to meet on November 27 to take the wage bipartite talks forward. Over 7 lakh public sector bank employees will keenly wait for the outcome of the meeting. Wage revision for them is due from November 2007.

Incidentally, both negotiating parties have agreed on a 17.5% wage hike. They have also in principle agreed to offer monthly pension to 2.66 bank employees, who did not opt for it in 1993. But their last meeting in the final week of September remained inconclusive as they could not arrive at the accounting methodology of pension.

“Issues like accounting for the cost of pension and the cost sharing arrangement between bank management and employees, the proposed introduction of New Pension Scheme (NPS) and variable pay are some issues that need to be resolved,” said All India Bank Employees Association (AIBEA) president Rajen Nagar.

UFBU — the umbrella organisation for nine leading bank unions — is not also comfortable with IBA’s proposal to introduce NPS for bankers joining after April 2010.

IBA and UFBU jointly finalise the pay hike plans for public sector bank employees. Talks on the eighth bipartite meeting has been on for quite sometime now. Public sector banks including State Bank of India have 2.44 lakh officers and 4.68 lakh workmen employees who are awaiting a wage revision now- FROM ECONOMIC TIMES

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Comments/Queries

( 41 Comments so far )

• s.k.murthy
  
  Dec 28, 2010 at 10:12:pm

  I had served in the army before joining a nationalised bank and retired in 1994. Banks’ pension rule say that prior service in defence will not be considered for pensionable service. This is against justice since persons who had served the nation are denied the benefit of their service in the defence forces. Can anything be done to get justice to ex-servicemen. By the by, I would like to mention that since my service in the army was for 5 1/2 years no defence pension is payable to me for the service,hence my request.