The Department of Financial Services, Ministry of Finance, has set up a committee to resolve the pending issues of bank pensioners and retirees.

This is the outcome of a series of meetings the All India Pensioners and Retirees’ Confederation had with the Union Finance Minister Arun Jaitley; Minister of State Santosh Kumar Gangwar; and department officials.


Demands of the pensioners/retirees include 100 per cent DA neutralisation for pre-2002 retirees; improvement in family pension, medical insurance and a medical benefit scheme; pension updation; second options to compulsorily retired officers and resignees who have put in a pensionable service.

Suprita Sarkar, acting general secretary, said that the Confederation had been pursuing these with the government and the Indian Banks’ Association (IBA).

It was enthused by the response of Finance Minister Arun Jaitley during the meeting on on June 1.

It explained to him the details about the 100 per cent DA neutralisation issue, family pension and updation.


"It was not a meeting for merely submitting a memorandum but one where the Finance Minister listened to our issues patiently asking us to clarify points in respect of the issues,” Sarkar said.

As a follow up, the Confederation met Minister of State Santosh Gangwar on July 24 and urged him to advise the ministry to resolve the issues on an urgent basis as quite to a few retirees had reached their advanced age.

The Minister of State too was sympathetic to the issues and assured the Confederation of a resolution. He had already talked with the ministry officials in this regard.

According to Sarkar, the United Forum of Bank Unions (UFBU) had taken up the issues mentioned in the record note of the last bipartite settlement during the ongoing negotiations for the 11th settlement.


During the meeting with the Chairman of the IBA sub-committee in charge of negotiations on August 1, the UFBU had taken up them and had received a favourable response.

“We firmly believe that the issues such as pension updation, family pension and medical benefit scheme shall be of direct concern to the serving employees as well as they move on and retire,” Sarkar said.

It is imperative that the Confederation and the UFBU their efforts for resolution of the pending issues.

“We are happy that all constituents and leaders of the UFBU re making sincere efforts in this regard,” Sarkar added.