One Rank One Pension scheme for banking industry
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
RAJYA SABHA
QUESTION NO 2444
ANSWERED ON 08.08.2017
One Rank One Pension scheme for banking industry
2444 Prof. M.V. Rajeev Gowda
Will the Minister of FINANCE be pleased to satate :-
(a) whether there has been a constant demand for One Rank One Pension from various other sectors following introduction of one rank one pay for the defence sector;
(b) whether Government is considering to introduce One Rank One Pension scheme for the banking industry;
(c) whether there is any move to revise the pension of the retired bank employees; and
(d) if so, the details thereof and if not, the reasons therefor?
ANSWER
The Minister of State in the Ministry of Finance
(a): Pension in Nationalised Banks is based on Bipartite Settlement between Unions/Associations and Indian Banks’ Association (IBA) representing managements of Banks. IBA has informed that there have been demands from Pensioners’ Associations regarding pension updation.
(b) & (c): At present, no such proposal is under consideration of Government.
(d): IBA has informed that pension in Nationalised Banks is paid to the retirees’ from the pension fund of bank concerned and improvement in pension directly affects the profitability of the banks.
Pension is paid from Pension fund created.It will not affect the profitability of Banks.Minister has given wrong information to the house.
The central government employees are getting revision of pension whenever the pay commission announces the pay revision ,irrespective of shortfall in the budgetary balances ,
Whereas pensioners of Reserve Bank employees don’t get the updation ,inspite of huge balance in the pension fund
The irregularity must immediately to be set right .
Whether the RBI and government look into the matter .
Pensioners are not invitees in any bipartite talks, and working staff Unions never care for retirees i.e. they are always suffering.