Due to the persistent efforts of UFBU and its struggles, a significant breakthrough was achieved when the Government and the IBA relented and agreed to discuss the UFBU’s demand for another option to join the pension scheme. But they were not willing to extend the same pension scheme as was achieved in 1993. They were willing to offer an alternative pension scheme. But due to the efforts of UFBU, the same pension scheme could be achieved. To achieve this, UFBU had to agree for the New Pension Scheme from 1-4-2010 and also agree to contribute 30% of the deficit in the additional fund. It is because of this practical and tactical approach of UFBU that this historic Settlement could be signed on 27-4-2010.
This Settlement has been widely acclaimed as a unique achievement because this will enable more than 3 lacs employees, officers and retirees to get the benefit of the pension scheme. While everyone was eagerly looking forward to the implementation of the pension option settlement by the IBA and Banks, an exparte interim stay order as under was obtained on 23-6-2010 in the High Court of Madras in a writ petition filed by Canara Bank Workers Union.
“ Mr K N Ramesh, learned counsel for the petitioner submitted that Andhra Pradesh High Court as well as the Allahabad High Court granted interim stay similar to the one which has sought for by the petitioner. Hence there shall be an order of interim stay.”
Since there was no interim stay order in Andhra Pradesh or Allahabad High Court, the order was modified by the Judge but the interim stay was however continued. Hence the issue was taken up in Writ Appeal before the Bench. Yesterday, (10.08.2010) the Appeal was heard by the Chief Justice and we are happy to inform our units and members that the interim stay has been vacated. In the orders passed by the Bench, it is stated that
“ Counsel for the writ petitioners fairly submitted that no interim order as sought for in the writ petition has been granted by either the Allahabad High Court or the Andhra Pradesh High Court. In that view of the matter, the impugned order passed by the learned single Judge granting interim stay is hereby set aside ”.
While AIBEA and NCBE were represented by Mr. Jayesh Dolia of Aiyer & Dolia, the IBA’s Counsel were M/s V Suthakar and K S Viswanathan.
GOVERNMENT CLEARS AND IBA ISSUES CIRCULAR:
Consequent to this, the Government has given its clearance to IBA to go ahead and IBA has issued their Circular dated 10th August, 2010 to all the Banks for implementing the pension option settlement.
It is pertinent to note that Canara Bank Workers Union who had filed the Writ Petition is not affiliated to any of our UFBU constituent units and hence is not a party to the Settlement also. In the entire country, this Union has a membership of 244 employees only. It is also known that this union is a well-known anti-AIBEA outfit right from its inception and they are known for their anti-employee positions. No wonder, this time too they have tried to work against the employees and even the retired employees and to prevent the pension benefit to the PF Optees who have been eagerly waiting for the same for so many years.
It is also evident that the stay order has been obtained based on wrong premises that there are stay orders in Allahabad and Andhra Pradesh High Courts.
With this vacation of stay order and IBA’s instructions to the Banks to proceed with the implementation of the Settlement and extend the pension option to the PF Optee employees/retirees, all the Banks will be issuing their respective Circulars seeking the option.
All our units should ensure that the PF Optees submit the option letter and join the pension scheme as pension is the best social security measure. Pension option has been achieved with great struggles and difficulties and this opportunity should not be missed. Similarly, our units should also try to reach all the eligible retirees so that they may submit the option letter well in time. This is an important organizational task and all our units should ensure the same.
PENSION IS THE BEST SOCIAL SECURITY SCHEME
PENSION BENEFITS ALL
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