All India Bank Retirees’ Federation (AIBRF) is the oldest and the largest organization of Bank Retirees in the country. It comprises of retirees from all banks and cadres without any discrimination. Former Chairmen as well as retired sub-staff members are all members of the AIBRF. At present, the membership of AIBRF is 2,75,000 with 40 affiliated units.

The Sixth Triennial National Conference of the Federation is scheduled to be held at Palace Sheesh Mahal, Palace Grounds, Bangalore for three days from 25th Feb to 27th Feb 2023. The conference will be inaugurated by Sri. Thawar Chand Gehlot, Hon’ble Governor of Karnataka. Around 3000 Bank Retirees are expected to participate in the inaugural session.

Addressing the Press Persons, Shri. S.C. Jain, General Secretary of AIRBF, conveyed his thanks to the Finance Minister and Govt. Of India for increasing the exemption limit in Income Tax from Rs. 5 lakhs to Rs. 7 lakhs and for permitting investments by Senior Citizens in Senior Citizen Savings Scheme from Rs. 15 lakhs to Rs. 30 lakhs, in the recent budget. He also thanked the Central Government for increasing the ex-gratia payment to those retired from Banks before 1-1-1986 to Rs. 10,000/- per month.

At the same time, he regretted to note that the pension of the Bank Retirees has not been updated ever since it’s inception in 1995. As a result, those retired from banking services in the past are totally discriminated and their amount of pension is very low . The very concept that Pension is a social welfare measure, rendering social justice to those who in the heydays of their life ceaselessly toiled for the employer on an assurance that in the old age, they would not be left in the lurch and that it should have a relevance to the last pay drawn is defeated. For last more than 5 years, Bank Pensioners throughout the country being legitimately aggrieved have been requesting the Government of India to update their Pension like what has been done for Ex-Defense people on the lines of OROP. It may be noted that the Central Government Retirees numbering more than 60 lakh and all State Government Retirees are getting Pension Up dation with every increase in the wages of the serving employees. The retirees of Reserve Bank of India are also given up dation of their pension. Even though the Pension Scheme for Bank Retirees is evolved on the lines

of the Pension Scheme for Central Government and Reserve Bank Retirees, the Bank Retirees are unjustifiably discriminated by not giving them any increase in their Pension for more than 30 years. The Bank Retirees have met hundreds of MPs, several Central Ministers and various authorities pleading for Pension Up dation. The Finance Minister Mrs. Nirmala Sitaraman, understanding the genuine grievance of the Bank Retirees has assured that their legitimate representation would be considered. While the Finance Minister has been kind enough to consider increase in the amount of Family Pension, the up dation of Pension is still pending.

Mr. Jain stated that the present generation of bank retirees are those bank employees and officers who had worked ceaselessly during their service to build and develop the banking institutions in our country. He stated that they deserve Pension Up dation and the ensuing Conference will discuss the issue thread bear and would chalk out the ways and means to get their demand for Pension Up dation favorably settled.

One more serious issue, the Bank Retirees are facing is in the matter of Health Insurance. Contrary to the settlement in this connection, a discriminatory approach is adopted by the Indian Banks’ Association in this regard. The Bank Retirees are made to pay a very heavy amount of Health Insurance Premium which most of the Bank Retirees cannot afford. GST at the highest rate of 18% is charged on the Health Insurance Premium. He contended that as model employer, the bank managements are morally responsible to take care of the health of the bank retirees who had given the best of their life for building the banks in India.

He also lamented that an illogical approach is adopted by the Indian Banks’ Association in the matter of discussion with the representatives of bank retirees concerning their issues. The Central Government has a regular practice of discussing Pension and Retirement related issues with its Retirees’ Organizations. However, despite repeated requests and efforts from AIBRF, the Indian Banks’ Association is not holding discussions with the Bank Retirees’ Organizations concerning their issues. He maintained that this is totally illogical, defies comprehension of any prudent person and that it is totally unacceptable. Mr. Jain called upon the Indian Banks’ Association to review their approach and called upon the IBA to hold discussions with representatives of Retirees’ Organizations in the matter of Pension and related issues.

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