Interesting situation

My View on  "Discrimination amongst retirees neither just nor e...": 

1. A very interesting situation has arisen in RBI Pension updation field. Pension in RBI came into force w.e.f.01 November 1990 under RBI Pension regulation, 1990. This RBI Pension Regulation is being replaced for new entrants and shall cease to be from 1 January 2012 for NPS. That means the present pension regulations will be implementable to employees who worked in RBI during these 22 years. As the New pension Scheme (NPS) is started in RBI from 01 January 2012 on wards.I do not know whether the RBI Pension Regulation, 1990 Chapter 1. Reg. 1. (2) has been amended by the Bank for it's discontinuing to new entrants.Or, a new RBI Pension Regulation has been incorporated with parliament approval for new entrants w.e.f. 01 January 2012, the RBI Legal department will be the best to know this.

2. As far as the existing Pensioners under RBI Pension Regulations, 1990; one thing is clear that" Neither the pension can be reduced nor withdrawn by any Government Order without a judicial pronouncement." So, the Pension and DR received is assured for the entire future of the Pensioner. As regards Updation, the Bank to consider how best it can pay pension to the all equally at the same length and scale of pay with out making a different category among the pensioners against the law explained by Hon. Supreme Court in their various judgments chiefly Nakara Case.

3. Therefore, Bank is required to Pay Pension to an equal amount to Pensioners on each pay revisions at the same level ensuring no junior gets more pension at any point of time during the currency of RBI Pension Regulation, 1990 and that is called - - - Pension Updation.

4. It can be very easily be paid either merging all the superannuation elements in Basic Pay or the Grade Pay. Since, RBI Scales and positions are on different pattern, the Grade pay may be considered an additional allowance as paid with salary in Private Sector as a separate nomenclature. 

This solution will solve RBI Pension Updation issues without any problem. United Forum may consider it as one of their avenue along with other alternatives also. 

- Capt. C B Gupta

When we ask for updation of pension as in the case govt. pensioners, govt. says as updation is given along with wage settlement, once in 10 years only in govt. RBI may similarly extend the benefits,once in 10 years. Of course, in Banking industry wage revision is once in 5 years only.

We may therefore propose wage revision be continued as hitherto before,that is once in 5 years, and the updation given once in 10 years. GOI may also agree. In fact the first pension updation given in 2003 by RBI is on the basis of two 5 year wage settlements of 1992 and 1997 only. RBI may follow the same in future. The serving  staff may understand that by the denial of updation to the 10000 pensioners, like us, for the last 10 years, each one of us lost about a lakh of rupees on an average per year, that is total loss is more than 10 lakhs,per pensioner. This non-stop deprivation has to be put an end to, before the aged pensioners bid farewell to this world. The Serving Staff have to give a helping hand, as whatever little loss of new perks of 2007 wage settlement, will be insignificant considering the overall picture, as that loss could also be recouped later by negotiation. 

- Sendil