Business Daily from THE HINDU group of publications
Monday, Jun 16, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Monday, Jun 16, 2008 ePaper | Mobile/PDA Version | Audio |
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Money & Banking
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Trade & Labour Unions Bank employees union seeks opportunity to join pension scheme Our Bureau Tiruchi, June 15 The National Confederation of Bank Employees (NCBE) has urged the Centre to provide another opportunity for bank employees to join the pension scheme. Addressing the media here at the end of the State general council meeting of the Confederation here on Sunday, the president of the NCBE, Mr L. Balasubramanian, said that an option for the pension scheme was first obtained from the bank employees way back in 1993. A second option was obtained in 1995 when the pension scheme was implemented. “To the surprise of the bank employees, those who had submitted their option in 1995 alone had been covered under the pension scheme, while none among the first batch, who opted two years earlier, has been covered,” he said. Since a majority of bank employees now prefer pension scheme to provident fund benefits, they have been insisting on the Centre to include them under the pension scheme. Justifying the demand, M. Balasubramanian expressed his concern over the ‘dilly-dallying’ attitude of the Centre in according second option for the employees to switch over to pension scheme. He also condemned the outsourcing of bank-related works. “Outsourcing of routine banking operations is fraught with grave commercial risk and is against the basic banking principle,” he said. He urged the Centre to dispense with the outsourcing procedures and instead fill up the existing vacancies in all banks. More Stories on : Trade & Labour Unions | Pension Plans | Social Security
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