TALKS BETWEEN IBA AND UFBEU

I have reproduced the details of talks held between ufbu and iba on 9th and 10th of this month

TALKS WITH IBA
Further to the signing of the Minutes with the IBA on 27-11-2009 on our demands for wage revision and pension option, yesterday i.e. 9-12-2009, a round of discussions took place between IBA and UFBU. IBA’s team was led by Mr. Allen Pereira, (CMD, Bank of Maharashtra) and Vice Chairman of their Negotiating Committee. From the UFBU, all the 9 constituent unions participated in the Talks.
During this meeting, the broad approach to expeditiously finalise the full settlement was discussed. It was decided that construction of new pay scales, revision of allowances, drafting of the Settlement, etc. would be taken up in subsequent meetings to be held separately with the 5 Workmen Unions and 4 Officers Associations.
It was further decided that the drafting of the settlement on wage revision and pension option be simultaneously undertaken so that both the settlements can be signed together.
Arising out of the Minutes on pension option, it was mutually clarified and understood that ‘Retirees’ would mean and include employees/officers who have retired on normal superannuation, those who have retired under VRS/Special VRS and families of the PF optees who had died during the period all of whom would be eligible for the pension option. Issues like cut off date, formula for sharing of the additional cost of pension option, etc. were taken up and would be discussed further.
Today (10-12-2009), IBA held separate meetings with the Workmen Unions and Officers Associations during which proposals for construction of pay scales, etc. were discussed. Since the construction of revised pay scales is the most important issue, the matter needs further discussions. It was decided that the discussions would be further continued in the next round of meeting for which dates would be fixed up shortly.
Source - AIBEA website

9th BIPARTITE SETTLEMENT

At last the wage negotiation of the banking industry has reached a final stage where the IBA and The UFBU has signed the MOU on 27.11.2009. Another option to join the pension scheme has pushed the salary structure to the back seat. Long and deep discussions are going on about the CPF to be surrendered back to join the pension scheme. Rumor mongers are having a field day  and unless the union leaders come out with the concrete proposals everybody have his own calculations and confuse one and all.

17.50% increase in the wages does not mean straight increase in the salary. it comprises so many load factors. It is always a complicated puzzle and ultimately one will satisfy with what he got as increase and the arrears of some lumpsum he receive for the period from November 2007 to till date.February is the month by which the arrears will be distributed completely as per unions.

maharam