The Hindu Business Line : IBA-unions pension talks on Oct 3

New Delhi, Sept. 24 Bank unions and the Indian Banks’ Association (IBA) are to begin negotiations on October 3 over the contentious issue of allowing bank employees to once again opt for pension as against provident fund.

Employees of commercial banks are keen that they be given another chance to opt for pension benefit. A number of employees had opted for provident fund as against pension, when such an option was given to them more than a decade back.

“The IBA has agreed to commence negotiations on October 3”, Mr C.H. Venkatachalam, General Secretary of All India Bank Employees Association , told Business Line

Three demands

Pension was one of the three issues over which the unions had called a nation-wide strike on September 12.

But they deferred the strike on the advice of the Chief Labour Commissioner and in the wake of IBA’s assurance to commence negotiations on the demands within a fortnight.

The other two issues on which bank employees are looking for some relief are outsourcing by banks and appointments on compassionate grounds.

Related Stories:
Bank unions defer strike
Second pension option: AIBOC threatens indefinite strike
Bank unions plan strike on Sept 12

More Stories on : Trade & Labour Unions | Pension Plans

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