My View on "Pension updation and opening of fresh option - RBI...":
Before I proceed to offer my unsolicited comments (views have been asked for only from the regional units of the RBIOA), let me at the outset make one point clear. I cannot claim much expertise and detailed knowledge in the area since my experience is limited acquired while serving as CGM,HRDD for 11 months(!!) and having been entrusted with the 1992 Pay revision negotiations with all the Associations. (HRDD Chief ought not to have been entrusted with this work.). Nevertheless, I believe that my views on the aspects on which I am offering my comments are sound.
2. Pension Updation even in the Central Government has been introduced only in the last two Pay Commissions and was non-existent prior to that date. If we in the RBI demand pension updation, as in the Central Government, on the ground that the Bank's scheme of pension is on the lines of the GOI, then it is only logical that the rules relating to Pension updation( whether it is the definition of 'pay', manner of fixation of revised pension etc) in the RBI cannot be different and have to follow the rules in the GOI as decided by the Pay Commission. We cannot have the best of both the worlds( RBI's rules relating to determination of pension and rules of the Pay Commission in the matter) and to demand it betrays lack of realism. Hence, if we wish to have the benefit of updation of pension, we have to accept the conditionality of the GOI.
Secondly, the rationale of pension updation is that pensioners who had retired from a particular grade should be eligible to draw the same amount regardless of their date of retirement. If this is so, it would appear that 'Pay revision' and 'Updation of pension' would have to follow the same periodicity (10 years as at present) and one cannot be delinked from the other. Otherwise, it would not be possible to ensure the drawal of same quantum of pension by all pensioners who had retired from the same grade but at different points of time. I would be happy to know whether there is any flaw in my argument and if there is I am willing to stand corrected.
3. In view of the above, it would be good if RBIOA find it possible to consent to the proposal with in the next 10 days as the issue has taken many years to get resolved.
4. As regards the condition relating to "rationalisation of perks" of serving employees, this is totally irrelevant to the issue and one cannot see any connection between this aspect and pension updation and pension option. Governor should with all his authority, backed up by his standing, reputation and skills in argument, take up this point with the GOI and most of us have confidence that he can and would do it. SBI officers have enjoyed better perks than the officers of the RBI for several decades( when perks were practically non-existent in the RBI) and I am sure that they would be enjoying excellent perks even now.
- A.Chandramouliswaran, E.D (Retired)
The Finance Ministry current direction to RBI on wage and pension updation at the span of every 10 years on the lines of 6th CPC and also that of future CPCs need to be rejected by RBI management to keep itself autonomous as per it's charter in real sense.Whether, the Top Management can do it or not due to obvious reasons will make the success and fall of the United Forums's efforts in the matter until forceful voice is raised in the matter. It appears that the bank's agreeing to RBI Staff Regulation statutorization in principle is giving space to government in amending staff matters by them. In case, United Forum is unable to keep the existing A+ Position vis a viz IAS Officers in Pay and perks matters, then they should ensure time bound promotion in RBI at IAS pattern at the minimum. pay rise on length of service of 30+ years at par with Secretary to GOI to all RBI Officers is to be insured and assured. I am sure when you talk boldly on this line only to Bank and GOI will be able to succeed and handle the bureaucrats suitably. Kindly think on this line also along for getting the leverage.
regards.
- Capt. C B Gupta
My personal view on the current debate on pension updation:
1. Pension was introduced in RBI effective January 1, 1986. A regular revision of pension has not happened so far. The revision once done(effective November 1, 1997) was dragged to court due to some irrational stand taken by Finance Ministry.
2. The position at 1 explains the urgency for pension revision. Conceding such urgency, during Governor Dr Subbarao’s period, Family Pension was revised. As there was a doubling of Family Pension from 15% of Pay to 30% of Pay the unacceptable and wrong method of arriving at revised family pension amount went unnoticed. Bank has so far been able to protect the interests of family pensioners post-revision, though the revision came very late. My view is that RBI should go ahead with revision of pension and find methods to protect the interests of the employees/pensioners. RBI can do this and delay in implementing the revision is not in the institution’s interest.
3. The conditionalities reportedly proposed by Finance Ministry are reminiscent of conditionalities totally unrelated to the projects usually imposed by IMF/World Bank for project loans given to ‘poor’ countries. The wage structure for workmen is based on negotiated settlement/s and last such settlement expired on October 31, 2012. Stealthily getting nods for change in service conditions without negotiation on major service conditions, besides being illegal, is denial of natural justice.
- M G Warrier, Thiruvananthapuram
