IBA and bank unions meet on June 9 to discuss pension scheme
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The Indian Banks Association and bank unions have convened a meeting on June 9, 2008 in Kolkata to assess the observations of the two actuaries appointed to compute the additional cost to provide one more pension option to bank employees.
The IBA and bank unions had jointly appointed the two actuaries -D Basu and Prasad Sharma -in April 2008 to independently assess the cost involved in the process.
"Based on the outcome of the meeting, which will be held in the presence of the two actuaries, we would decide on our future course of action," said All India State Bank Officers' Federation's General Secretary G D Nadaf.
The IBA had said that the implementation of a second option for pension would burden the government with an additional Rs 26,000 crore, while bank unions had pegged the amount at Rs 4,700 crore.
Unions, however, later reached a consensus with the IBA to appoint two actuaries, at a high-level meeting with top bankers, early this year.
The actuaries have been asked to consider various financial and non-financial parameters in order to sort out the wide disparity in the estimates and are expected to come out with recommendations to both bodies in the Kolkata meeting.
The implementation of one more pension scheme would enable those officers who joined between 1993 and 1995 to come under the pension umbrella.
Bank employees had observed a day-long nationwide strike in late January 2008 and had threatened a two-day strike just prior to the Union Budget in February 2008 which was eventually called off following a conciliatory approach from the IBA.
Based on the observations of the actuary-panel in the Kolkata meeting, the IBA is expected to send its recommendations to the government on the pension issue.
Meanwhile, State Bank employees on Saturday said that they would hold a one-day nationwide strike on June 6, 2008 to press for their various demands.
These include the pension scheme, recruitment of officers and the termination of staff-outsourcing.
The IBA and bank unions had jointly appointed the two actuaries -D Basu and Prasad Sharma -in April 2008 to independently assess the cost involved in the process.
"Based on the outcome of the meeting, which will be held in the presence of the two actuaries, we would decide on our future course of action," said All India State Bank Officers' Federation's General Secretary G D Nadaf.
The IBA had said that the implementation of a second option for pension would burden the government with an additional Rs 26,000 crore, while bank unions had pegged the amount at Rs 4,700 crore.
Unions, however, later reached a consensus with the IBA to appoint two actuaries, at a high-level meeting with top bankers, early this year.
The actuaries have been asked to consider various financial and non-financial parameters in order to sort out the wide disparity in the estimates and are expected to come out with recommendations to both bodies in the Kolkata meeting.
The implementation of one more pension scheme would enable those officers who joined between 1993 and 1995 to come under the pension umbrella.
Bank employees had observed a day-long nationwide strike in late January 2008 and had threatened a two-day strike just prior to the Union Budget in February 2008 which was eventually called off following a conciliatory approach from the IBA.
Based on the observations of the actuary-panel in the Kolkata meeting, the IBA is expected to send its recommendations to the government on the pension issue.
Meanwhile, State Bank employees on Saturday said that they would hold a one-day nationwide strike on June 6, 2008 to press for their various demands.
These include the pension scheme, recruitment of officers and the termination of staff-outsourcing.
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