Comments on: Bipartite talks on 22 July 2020 – Bank issues like Merger of Special Allowance with Basic Pay https://centralgovernmentnews.com/bipartite-talks-on-22-july-2020-bank-issues-like-merger-of-special-allowance-with-basic-pay/ All about Central Government Employees News. Get the central govt employees latest news, DoPT Orders, 7th Pay Commission, DA Hike, latest notification for pensioners, MACP latest order, da for central government employees, and more. Sun, 26 Jul 2020 15:11:59 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Rampalli Prasada Rao https://centralgovernmentnews.com/bipartite-talks-on-22-july-2020-bank-issues-like-merger-of-special-allowance-with-basic-pay/#comment-52548 Sun, 26 Jul 2020 15:11:59 +0000 https://centralgovernmentnews.com/?p=27359#comment-52548 AT LEAST I SINCERELY REQUEST ALL UNIONS TO BE UNITED LEAVING ALL IN THE INTEREST OF WE POOR RETIREES CAUSE AND AIM FOR ACHIEVING THE ELIGIBLE AND GENUINE RIGHTS OF WE BANK RETIREES. WE ARE LESS PAID PEOPLE THAN ANY ONE IN THIS COUNTRY

]]> By: Rampalli Prasada Rao https://centralgovernmentnews.com/bipartite-talks-on-22-july-2020-bank-issues-like-merger-of-special-allowance-with-basic-pay/#comment-52547 Sun, 26 Jul 2020 15:07:09 +0000 https://centralgovernmentnews.com/?p=27359#comment-52547 BANK RETIREES ISSUES

1. Improvements in family pension at par with Government & RBI pensioners Even though the Banks’ Pension Scheme was drawn on the lines of Government & RBI Pension Schemes
2. 100% DA Neutralisation to Pre November 2002-Retirees: The Officer retirees in the Banks were getting tapered DA on their Basis pension.
3. Pension Updation/Revision Pension scheme in the banks was introduced in 1995 with effect from 1.1.1986. Pension Regulation 35(1) provided that Basic pension and additional pension shall be updated in respect of those who retired between 1.1.1986 & 31.10.1987 as per the formula given in Appendix-I. Accordingly the updation was implemented.
4. Medical Insurance Scheme for Bank Retirees The Department of Financial Services advised IBA & the Banks vide its letter dt. 24.2.2012 to evolve a medical insurance scheme – both for serving & retired employees.
5. Reckoning of Special Allowance for Superannuation benefits In the last salary revision (wef 1.11.2012), a special allowance as a specified percentage of basic pay and also attracting DA was introduced. However, it was not reckoned for superannuation benefits viz. pension & gratuity

]]>