UNION BANK RETIRED EMPLOYEES' ASSOCIATION
Shri S.C.Jain,
General Secretary,
All India Bank Retirees' Federation,
Indore (MP).
Sir,
Reduction in monthly Pension of the employees retired after November,'12
In your last two / three communications you have mentioned that after implementation of the 10th BP Settlement, pension of the employees retired after November,'12 will be reduced. But, in fact, this happens with every Bipartite Settlement. The reason is, owing to increase in Basic Pay (by merging a portion of DA), commuted pension is increased and hence monthly pension is decreased. (Commutation increases commensurate to rise in Basic Pay).
Yours sincerely,
B.G.Raithatha,
General Secretary