AIBOC issued its circular No. 120 on 2nd option on pension. We are reproducing the same here for our readers.
CIRCULAR NO:120 DATE: 13.08.2010
TO ALL AFFILIATES/MEMBERS:
PENSION SCHEME IN BANKING INDUSTRY - 2ND OPTION IS AT YOUR DOOR STEPS - ACT NOW – EXERCISE YOUR OPTION QUICKLY
Comrades, the long cherished demand of over 3,00,000 lac serving and 65,000 retirees for joining the Pension Scheme is now a reality. The settlement on 2nd option on Pension which was signed by the Confederation marks the golden moment in the history of our organisation. It was no doubt a Herculean task but a fruitful one in the ultimate analysis. We have already circulated a detailed Circular on the issue covering the salient features of the Scheme as well as the procedure to be followed to join the Pension Scheme as advised by the Indian Banks’ Association based on the agreements signed by the unions in the Banking Industry. The Confederation had earlier brought out a comprehensive booklet on the subject in order to bring clarity in the minds of all those officers who were awaiting the opportunity and were in confusion due to the mischievous propaganda of the disgruntled elements in some of the rival unions both in the Clerical as well as Officers’ organisations. We found that the publication was well appreciated and the people were following the developments on the day to day basis.
The time for action on part of the beneficiaries both serving as well as the retirees has now arrived. They are required to submit their option letter within the time limit prescribed by the respective banks on the basis of the procedure advised by the Indian Banks’ Association. In order to facilitate the completion of the exercise in good time without waiting till the last moment, we furnish copies of the option letters which can be used by the members of our organisation. We are conscious of the elaborate arrangements that are required to be gone through. However, as a responsible organization we need to act on our own to avoid delay in the completion of the formalities to enable our members avail the benefit of the Pension Scheme. Hence, we suggest to our affiliates:-
a) To printout sufficient number of copies of the letter sent by IBA to all the banks and circulate the same amongst the eligible members;
b) Print out sufficient number of Option Letters as per the draft sent by IBA and campaign amongst the members for submission of the same with the necessary advice as regards the payment of their contribution etc., there are two separate drafts for submission of option to the Banks. The first one is in respect of serving and the second one is in respect of the retirees/family members of the retirees. Copies of both the drafts are enclosed;
c) The Affiliates will have a special responsibility as far as the retirees are concerned. They have to approach each and every member as a part of service to our senior comrades either directly with the available addresses or through the help of the Pensioners’ Associations from their respective organisations;
d) A special attention should be given to the family members of the deceased employees since they may not have the contact with the institution or the organisations. The Association using the organizational infrastructure should reach each and every members of the deceased family and render all assistance, so that the benefit of the 2nd option is made available to them;
e) The affiliates should hold meetings at all levels and address all those serving members who are eligible for the scheme and clarify all the doubts and motivate them to join the scheme without further delay;
Comrades, we have a special responsibility in ensuring the extension of the 2nd option on Pension to 100% of the members who are eligible as well as those who have already retired and then only we will be fulfilling the dream of our colleagues in the real sense. There is no question of any laxity on part of any one as regards the campaigning and coverage of the scheme, since we have fought tooth and nail to ensure that the 2nd option becomes a reality to our members.
All our affiliates/members are requested to await further developments in the matter.
With greetings,
Sd/-
(G.D. NADAF)
GENERAL SECRETARY
As we are facing technical problem in uploading the scanned document to the blog, we are providing herewith the link for the AIBOC circular where the IBA circular along with the Annexures could be downloaded.
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