India. Bank retirees demand better pension structure in Andhra
Nearly 500 bank retirees from Vijayawada have decided to take part in a protest at Jantar Mantar in Delhi on March 23. The retired employees of Krishna district want the Indian Banks Association (IBA) to update their pension schemes and hold talks with the All India Bank Retirees Federation (AIBRF).
The members of the committee accused the IBA of not implementing the Pension Regulation Act for the last 23 years. The association is also demanding revision of family pensions from 15 per cent to 30 per cent to benefit the wives of deceased bank retirees to lead a decent life.
“As per the IBA guidelines, the retired bank staff were receiving a pension of 30 per cent of their pay. The bank retirees were receiving `9,000 as pension for the past two decades without any revision and the IBA is least bothered to hear our pleas,” said Krishna district all bank retirees’ coordination committee president JV Ratnam.
Full Content: New Indian Express
