CBOA, AP UNIT'S CIRCULAR NO. 17 DATED 07TH DECEMBER 2009

We are reproducing the circular No. 17 issued by CBOA, AP Unit.
Circular No. GS: 2009: 017     Date: 07.12.2009
TO ALL OFFICERS                                            PLEASE CIRCULATE
Dear Friends,
We reproduce hereunder the Circular No. CIRCULAR/GS/2009/14 dated 03-12-2009 received from our Federation for your information.
With best regard
Yours sincerely
Sd/-
(C.A. MALLIKARJUNA RAO)
GENERAL SECRETARY
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“We reproduce hereunder the circular received from All India Bank Officers’ Confederation for your information:
                               CONGRATULATIONS
                     MINUTES SIGNED ON SALARY REVISION & 
                             2^ND OPTION ON PENSION

After two years of persistent efforts, protracted discussions, agitations and strikes, minutes have been signed today between IBA and UFBU on our charter of demands for wage revision and long-cherished demand of one more option to join the pension scheme.

SALIENT FEATURES: 

(a)        Annual wage increase of Rs. 4816 (Rs. 2239 crores for officers and Rs. 2,577 crores for workmen employees) w.e.f. 1-11-2007. 

(b)       The additional cost of pension on account of wage revision in excess of statutory contribution of 10% of pay will be shared equally between management and employees each and the share of employees (at 23% of Pay) will be deducted from the agreed wage increase while revising salary and allowances. 

(c)         All the existing employees who are now in PF scheme (other then SBI) will be given an option to join the existing pension scheme. 

(d)        All those who have retired after the date of Pension Regulations till date will also be given an option to join the pension scheme. 

(e)        The additional cost on 2^nd option on pension will be shared by the management and employees in the ratio of 70:30. 

(f)          Contributory Pension Scheme will be introduced for new recruits w.e.f. 01.4.2010.

(g)        Full settlement on the above to be finalized within 90 days.

Friends, this minutes denotes a significant achievement by UFBU both in terms of wage revision and also in securing another option for more than 3 lac employees/officers/retirees to join the pension scheme. This achievement has become possible due  to the united afforts and struggles by all employees and officers under the banner of UFBU. 

We congratulate all our units and members for the inspiring unity, magnificent solidarity and unstinted co-operation.

We shall now move in right earnest to work out the pay scales, allowances and other related issues and finalise the settlement at the earliest for expeditious implementation, payment of arrears, etc.

As regards additional cost on Pension to be contributed by employees, IBA refused to mention the position in respect of SBI employees in the minutes. Therefore, leadership of SBI Staff’ and Officers’ Federations did not become a party to the understandings as interests of SBI Employees was not taken in to consideration by the IBA. We shall share the details later.

Yours sincerely,

Sd/-

(D.S. BHADAURIA)

GENERAL SECRETARY