Reserve Bank of India (RBI) employees are threatening to skip work across the country on September 5 and 6 to press with their long-pending demands for updating pension plans and grant of new options on the retirement corpus. They want one more option for pensions to Contributory Provident Fund (CPF) retainers. Furthermore, they say that CPF or Additional Provident Fund should apply to staff recruited since 2012. Staff members have come together under the banner of the United Forum of Reserve Bank Officers and Employees to press for industrial action that could hurt traditional banking operations in the first week of September.
They claimed the finance ministry had always turned down their demand, although it updated pensions for about 5.5 million central government employees. “RBI governors, past and present, have time and again taken up the issue with the government and assured the employees and retirees of a positive outcome. However, it has not happened. The ministry has every time turned down our demand, which is most unjustified,” a statement issued by the employees’ forum said. The Supreme Court recently upheld the demand for pension revision by staff at nationalised banks. It also agreed with the regional rural bank staff, who had been seeking pension parity with nationalised bank employees. RBI employees observed a gate demonstration across all centres on Monday.
The Economic Times, 21st August 2018
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