Bank employees seek PM’s attention to pension demand

Kolkata: Public sector bank employees have knocked at the doors of Prime Minister’s Office renewing their long-pending demand for pension update. They have raised the pitch following the government’s decision to clear the pension issues for Reserve Bank of India earlier this year.

The employees have been demanding pension update as part of their bipartite wage talks with the Indian Banks’ Association (IBA), which represents bank management, but it has always been turned down.


IBA has pegged the cost of updating pension in PSBs at Rs 95,000 crore and said that banks, which have been under severe stress with mounting bad loans, won’t be able to handle this burden.

Pension for PSB employees has not been updated since 1996, union members alleged.

“We seek your help in resolving our pension issues. The basic fact is that pension scheme in PSBs is exactly the same as RBI pension scheme, with similar rules & regulations,” bank employees union flag bearers said in a letter addressed to Nripendra Misra, principal secretary to the Prime Minister….Read more>>