Bank Retirees staged huge demonstration today morning before SBH Head Office demanding justice against decades-long discrimination they are being subjected to by Bank Managements and Govt. of India.

When Basic Pension of all Pensioners of the entire country are revised with every Pay Revision Commission along with serving employees, only Bank Pensioners are denied and they will have the same basic pension during life time. Similarly family Pensioners of the entire country draw 50% of their deceased spouse Basic Pension only Bank Family Pensioners will get only 15%, the Retirees said.

When all pensioners DA is Neutralized 100% of CPI Consumer Price Index whereas only Bank Pensioners DA is restricted to 50% Neautralisation. Govt. and Pay Revision Commission will discuss Pensioners issues with Retirees Associations, bank pensioners are discriminated by denying this opportunity. Accrording to Raghava Rao and Ramesh Babu, leaders of the Bank Retirees unions blamed that Bank Managements were violating their Pension Regulations by not upgrading their Basic Pensions along with their serving employees basic revision.

As per Bank Pension Regulations retirees Basic Pension has to be revised and equated along with serving employees basics whenever revised. But Managements are violating this regulations and going against law of the country. “The Bank Pension Corpus Fund is accumulated to Rs. 1,63,000 Crores as of 31 March 2014 which was the contribnution of Bank Pensioners. The Pension cost of Bank employees is more than sufficient to meet the additional cost of our demands and Bank Managements or GOI need not contribute a single paisa to meet the cost of our Just Demands, they said.