C N Venugopalan
Ex-Manager
Union Bank of India,
"Nandanam", Kesari Junction,
N Paravoor, Kerala 683 513
No.20100803 3rd August, 2010
Dr. G Sanjeeva Reddy,
President, INTUC and Member of Parliament(RS),
New Delhi 100 001
Respected Sir,
Trade Union Role Redifined
Before the President of the India's Prime Trade Union I would like to place the new dimensions in the functioning of the Bank Unions during the past decade bringing in new definitions in their roles with the hope that you will become instrumental to breaking the iceberg with your deft hands by utilising your connections with those responsible for rendering justice to the retired bankmen. While examining the Pension Pact signed along with the 9th Bipartite Settlement, it is seen vividly that while rectifying the anomaly of not giving Pension to those who retired, a fresh set of five anomalies of a glaring nature not conforming to any standards have been implanted in the scheme to the detriment of the retired work force. Unions that regularly collected subscriptions and tolls from all the retired while they were in service totally disowned responsibility in respect of them and remained as mute spectators when IBA and Bank Managements took away and denied their vested right arbitrarily. Unions utterly failed to perform their role when the vested right as per Pension Regulations was denied to them and drove all the victims to Courts upto the level of the apex court without being of any assistance to them. They joined hands with the managements and ultimately sold out the right of the members by agreeing with IBA not to press for it any further at the time of entering into the 8th Bipartite Settlement. Whereas the social security benefit was due to the members in February, 1999 when the draconian clause in the Pension Regulations ( which prevented employees from opting for Pension when offered) enabling managements to forfeit the entire past services for participation in strike, banks did not extend fresh option and fradulently held the information in camera with intent to deceive the employees. Neither the Unions nor the directors on Board the different PSBs raise the claim of the emloyees but merely enjoyed sumptuous meals at the expense of the employees and slept. Now, as per the agreement signed on 27th April, 2010, a retired employee who desire to opt for the benefit will have to refund the entire CPF paid at the time of retirement together with additional 56 percent of this sum to the employer. Unions have further consented with the Banks that the Pension payable to them until 27th November, 2009 need not be paid at all. An employee who retired in 2001 will stand to lose about Rs.10 lakhs by way of the Pension Payable upto the arbitrary date of 27 11 2009 and has to pay 156 percent of the CPF received. The monthly pension which has not been paid together with nomninal interest would work out to Rs.16 lakhs and the recovery of CPF and 56 percent is extra levy for him when his counterpart who retired from the Pension Segment has been paid pension all along under the same Regulations. This would mean that banks are to be funded out of the pension amount snatched away from about 65000 retirees and that the present work force is also being paid in part out of the amount proposed to be swindled from the retirees. This will cast a big shame on Trade Unons and Banks and also to the great nation, its legal system and Sacred Constitution. Another glaring anomaly is that one who retired in March 2010 will have to pay 156 percent of CPF amounting to Rs. 8.00 to Rs.16 lakhs and his counterpart retiring in April, 2010or afterwards will have to pay 2.8 times the November, 2007 pay for getting enrolment under Pension Scheme. All these make the new agreement a black and unfair one by any yardstick. I had sent a representation to the Hon'ble Prime Minister clearly spelling out that these anomalies would constitute breach of the fundamentals of equality enshrined in the Constitution. This letter was forwarded to the Finance Ministry for doing the appropriate. I am yet to hear anything from MOF. In the meantime, Shri. V R Krishna Iyer, Former Justice of Supreme Court and a great luminary in the field of Law and Justice too had sent a letter to the Hon'ble Minister of Finance enclosing therewith and recommending my letter adressed to MOF. No action apprears as having taken on it too. I am at a loss to describe the situation. These are things that should never happen if there is at lease one trade union that is worth its name in India. It is really a challenge to all trade unions that the bank men who contributed their mite for the organisations are left at cross roads at the fag end of their lives without giving them the pittance payable when they are devoid of employment and income. They are all suffering for past one decade and are to get solace without delay. The key men of banks and IBA, the organisation of Banks are acting worse than the British Lords and the East India Company that existed in the pre-independent India and are plundering the compensation payable to the workforce whose sweat was extracted well. It is my sincere that being the leader at the helm of affairs at INTUC, you will evince an interest to mitigate the hardships of the former working class for not making them victims further by preventing the IBA from looting from their bowl for running the industry that is brilliantly performing with fantastic working results. Attached hereto is a letter which I sent to Business Line for publication which details the five new irregularities of an offending nature in the new pension pact. I would further earnestly request you to please browse the item "Banking on Consensus", "letter to Finance Minister by Shri. V R Krishna Iyer on Bank Pension" etc to cmprehend fully the untoward situation and to expedite steps at the earliest to mitigate hardships of the retired workers of banks in India. A line in reply would be appreciated much.
Thanks and Regards,
Yours sincerely,
C N Venugopalan
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