RBI officers on nationwide mass casual leave on Sept 4-5
National

RBI officers on nationwide mass casual leave on Sept 4-5

New Delhi, Sep 3: Employees and officers of Reserve Bank of India will observe mass casual leave on September 4 and 5 to press for their demands including updation of pension, one more option to CPF retainers to switch over to pension and grant of contributory provident fund (CPF), additional provident fund (APF) to recruits in the Bank from 2012 onwards.

The mass leave has been called by the United Forum of Reserve Bank Officers and Employees (UFRBOE) which has been demanding 'updation of pension, one more option to CPF retainers to switch over to pension and grant of contributory provident fund (CPF) additional provident fund (APF) to recruits in the Bank from 2012 onwards.'

The collective body of UFRBOE have called upon the entire RBI workforce to avail of two consecutive days' Mass Casual Leave on September 4 and 5 which will be participated by all officers as well as workmen staff of the Bank, paralysing central bank's functions for two consecutive days.

'Pension in line of Central Government employees was introduced in Reserve Bank with effect from January 1, 1986 in lieu of contributory provident fund with the assurance that it shall generally be on the lines of CGPS and any improvement in Central Government Pension Scheme will be extended to RBI pensioners.

'As Central Government improved pension periodically with every pay revision through Pay Commissions, in RBI also pension was brought in alignment with the pay scale of 1997 - 2002 covering pensioners upto October 2002. This was, however, objected to later by the Ministry of Finance, Government of India who forced withdrawal of the same in 2008.'

Even though Bombay High Court injuncted the same for existing recipients, but the policy had to be jettisoned by the Bank under Government directive, resulting in stagnant basic pension for pensioners despite intermittent wage revisions for staff, according to a statement issued here.

In realisation thereof and in view of their past assurance, the Bank approached the Government time and again for permission to improve pension amount but to no avail.

When employees were given option for switch over from CPF to Pension, a few employees could not opt. After giving four such options in quick succession upto the year 2000, the Government put an embargo on any further option which excluded about 2,600 employees many of whom, having retired now.

The employees have demanded some security in future in the form of introduction of Bank's Additional Provident Fund Scheme, where employees' extra savings will fetch assured interest under Bank's fund management' or CPF like benefit as given in the SBI.

'The Government, the largest employer, is creating the contagion effect itself through its periodic pension updation of 55 lakh Government retirees. Having given this benefit to its own pensioners, Government cannot stand in the way of extending same benefit to a few thousand RBI pensioners, whose entitlements in view of rapidly increasing costs are absolutely meagre,' according to the statement . (UNI)