Talk:Bank Employees Federation of India

JUGGLERY of BANK’s WAGE REVISION

1.	Initially IBA has agreed for Rs 6000/ Crore as burden 2.	 Employee Unions raised the demand for pension a)	first for current employee b)	later on even for employees retired after 1996. 3.	Total Pension burden is Rs 6000/ Crore. 4.	Mathematical Jugglery of pension is as follows

Phase 1 						(figures in Crore) Total Wages offered by IBA            = Rs 6250/-  (Approx 22%)

Total Burden of Pension                   =  Rs 6000/- Out of which IBA agreed pension burden              =   Rs 3500/ (deducted from wage offer) Employee to bear Pension burden     =  Rs 2500/ On bargain IBA agreed to pay wages	= Rs 2750/- (approx 10%)

But Net Wage revision offer is only        =  Rs  250/	(Rs 2500/ adjusted in Pension burden by employee) (approx 0.90 %)

Phase II (11 Feb 09)

Total Wages offered by IBA                = Rs 6600/-   (Approx 24%)

Total Burden of Pension                     =  Rs 6000/- Out of which IBA agreed pension burden                =   Rs 3000/ (deducted from wage offer) Employee to bear Pension burden      =  Rs  3000/ On bargain IBA agreed to pay wages	 = Rs 3600/- (approx 13%)

But Net Wage revision offer is only         =  Rs  600/	(Rs 3000/ adjusted in Pension burden by employee) (Approximately 2.18 % Net wage Revision)

High Lights of wage revision Agreement :-

1.	IBA is ready to pay 24 % rise Rs 6600/ Crore 2.	Full pension burden is adjusted from wage hike in either way. 3.	Unions wants to help even retired (after 1996) employee from this wage revision. 4.	Net Wage revision offered is meager Rs 600/ Crore (Aprrox 2.18%) 5.	If pension is not insisted Employee would get 24 % rise in wage which when compared with external relativity (Central Govt was given 33 % to 40 % Rise.) may be in acceptable limit. 6.	Pension burden is fully loaded on current Bank’s employees. 7. Current employee needs to remain alert, as Union leaders are sacrifying their interest to protect Past retiree employee and sacrifiying their justified Wage Hike ( 30%).

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