Retired bank employees demand increase in pension

The State Bank of Hyderabad (SBH) Retired Employees Association conducted the annual general body meeting in Kothapet on Sunday. KM Sastry, secretary of the SBH Retired Employees Association, in his welcome address, highlighted the initiatives and developments taken up for betterment and welfare of the retired employees, spouses and to the family pensioners for over 30 years.

Sastry appealed to the management to increase dental treatment expenses from Rs 5,000 to 10,000; funeral expenses from Rs 10,000 to 20,000; domiciliary medical expenses from Rs 7,000 to 20,000 and sanction of one time Leave Fare Concession (LFC) facility; 100 per cent neutralisation of DA to pensioners who retired prior to November 1, 2002 and other residual issues.

A Ramesh Babu, General Secretary, SBI Pensioner’s Federation and convener of Coordination of Bank Pensioners and Retirees Organisation (CBPRO) demanded the revision of basic pension to retirees and increase family pension as applicable to RBI.

“A managing director, chief general manager or general manager who retired 10 to 20 years ago is drawing much lesser pension, than his junior most employees, who retired in subsequent years. We made many representations to Indian Banks Association (IBA) and Ministry of Finance to increase the pension; however, it fell on deaf ears.

With the current pension basic needs are not met due to the high cost of living,” he said. Many former general managers and officers of senior top management cadre and other prominent retirees attended and actively participated in the triennial meeting.