Anomaly in Computation of Pension – SC Judgement Anomaly in computation of Pension Civil Appeal No. 5525 of 2012, Filed in the Hon`ble Supreme Court of India by Bank of Baroda & Ors with other Civil Appeals HR & INDUSTRIAL RELATIONS No.HR&IR/2018-19/G2/4786 April 3, 2018 Chief Executives of Member Banks which are parties to the 7th Bipartite Settlement Dear Sir, Anomaly in computation of Pension Civil Appeal No. 5525 of 2012, Filed in the Hon’ble Supreme Court of India by Bank of Baroda & Ors with other Civil Appeals. On 9-10-1993, a Bi-partite Settlement was signed at Industry level between Indian Banks’ Association (representing member Banks) and Workmen Unions (representing Workmen) under the provisions of Industrial Dispute Act, 1947 for introduction of Pension as a second retiral benefit in lieu of “Banks contribution to Provident fund.” On similar lines a Joint Note dated 29-10-1993 between Indian Banks’ Association (representing member Banks) and Officers Associa...

Anomaly in computation of Pension – IBA Circular Anomaly in computation of Pension Civil Appeal No. 5525 of 2012, Filed in the Hon’ble Supreme Court of India by Bank of Baroda & Ors with other Civil Appeals. HR & INDUSTRIAL RELATIONS No.HR&IR/2018-19/G2/4829 April 6, 2018 Chief Executives of Member Banks which Are parties to the 7th Bipartite Settlement Dear Sir/Madam, CORRIGENDUM Anomaly in computation of Pension Civil Appeal No. 5525 of 2012, Filed in the Hon’ble Supreme Court of India by Bank of Baroda & Ors with other Civil Appeals. Please refer to our circular No. HR&IR/2018-19/G2/4786 dated 3rd April 2018 on the captioned subject. 2. There is a typographical error in the date mentioned in para (I) of the above circular. Kindly read as under- ” On 29-10-1993, a Bi-partite Settlement was signed at Industry level between India Banks’ Association (representing member Banks) and Workmen Unions (representing Workmen) under the provisions of Industrial Dispute Act, 1...

2nd Option of Pension for Compulsorily Retired Officers/Employees Indian Banks' Association HR & INDUSTRIAL RELATIONS No.HR&IR&HR/CIR/G2/BRK/4684 March 16, 2018 Chief Executives of Member Banks which are parties to the Bipartite Settlement Dear Sir/Madam, 2nd Option of Pension for Compulsorily Retired Officers/Employees The United Forum of Bank Unions (UFBU) representing workmen and officers in Banks were requesting to allow another option to those Who were in the service Of the Banks prior to 29th September, 1995 in case of Nationalized Banks / 26th March, 1996 in case of Associate Banks of State Bank of India and continued in service on or after that date and did not opt for pension when offered as per the scheme. 2. After holding various rounds of discussions in the matter, consensus was arrived at between the parties and a Bipartite Settlement/Joint Note was signed on 27.4.2010 to extend another option of pension to those Workmen / Officers who:- (a) were in the ser...

Dearness Relief to Bank Pensioners from February 2018 to July 2018 - IBA Orders Dearness Relief payable to Pensioners for the period February 2018 to July 2018 Indian Banks' Association HR & Industrial Relations No.CIR/HR&IR/D/G2/2017-18/4433 February 1, 2018 (Designated Officers of all Members Banks which are parties to the Bipartite Settlements on Pension Dear Sirs, Dearness Relief payable to Pensioners for the period February 2018 to July 2018 The confirmed All India Average Consumer Price Index Numbers for Industrial Workers  (Base 1960=100) for the quarter ended December 2017 are as follows:- October 2017 - 6551.03 November 2017 - 6573.86 December 2017 - 6528.21 In terms of Regulation 37 of Bank Employees' Pension Regulations, 1995 Dearness Relief is payable to pensioners at rates specified in Appendix II to the Regulations. Pending amendments to Pension Regulations, Banks may pay on ad hoc basis, the Dearness Relief payable to pensioners for the period February 20...