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Wednesday, April 28, 2010

Historic Settlement

The so called Historic Settlement has shown how much poor vision our top most union leadership has. After the meeting with IBA when it was decided that all employees / officers who are in the service have to contribute 1.6 times of November, 2007 salary towards their contribution towards giving another chance to PF optees. In all the circulars it was clearly indicated that this has been done with a view so that no legal hurdles are raised. Mr. Nadaf, who himself patted for the Fair settlement, has written that this is necessary as on earlier occasions (read earlier 7th and 8th settlements), PF optees have sacrificed their share.

As late as on 24/04/10 evening Mr.NADAF's Silver Jubilee speech on AIBOC's HISTORIC achievement of 9th BP, he had again reiterated before the members that pension-optees have to contribute as PF optees earlier had foregone their proportionate share in earlier revisions. However, now the same leaders have changed their tones and have gone for agreement with IBA wherein existing pension optees have been exempted from payments and the contribution from PF optees has been increased from 1.6 times to 2.8 times of November, 2007 Pay.

We give below the extracts from the so called "DETAILS OF TNBEF CC MEETING HELD ON 22/8/2009 -CHENNAI, as circulated earlier:

1 The CC congratulated the Units for successful implementation the 6/7 th August Strike.

2 Com CHV elaborately explained the happenings before the strike call and about the CLC proceeding on 7th Aug 2009.

3 The raising of the issue inside the parliament by various opposition leaders forced the Govt to reverse their decisions.

4 It was agreed to offer 17.5 % and also to accept the earlier formula of Pension Option.

5 Sharing the cost of Pension in each settlement is nothing new and it has been there right from the implementation of Pension Settlements

in the Year 1993 - Pension settlement - Pension in lieu of PF 10 %

1995 - 6th Bi-partite - Pension in lieu of PF 10 %

2000 - 7th Bi-partite - 26.5 % minus 10 % = 16.50 %

Additional Cost shared in the ratio 50:50 @ 8.25 % each by Empl & Banks

2005 - 8th Bi-partite - 30.50 % minus 10 % = 20.50 %

Additional cost shared in the ratio 45:55 @ 9.25 % & 11.25 %

2009 - 9th Bi-partite - Cost sharing @ 30 : 70

IBA's present position : In 10th Bi-partite the cost of pension should be worked out and the gap between the cost and 10 % of Basic Pay to be shared @ 30:70. So it is not a new condition imposed by IBA."

Now questions arises as to whether these retired leaders are so foolish that for last 30 months they have not even thought of consulting some lawyer or taken some legal opinion on so much important issues. They collect hundreds of crores of Rupees every year and they are not ready to pay a lakh or so for such an important issue to get the legal position before the start of the negotiations. What should members think about these so called GREAT LEADERS? It is truly said it is not negotiation, but SALE OF THE PRESTIGE OF THE BANKERS BY THESE RETIRED AND TIRED LEADERS.
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