Monday, December 15, 2008


Dear Comrades,

Negotiations With IBA

We reproduce herewith the text of UFBU circular of date on the details of the discussions held between IBA and UFBU today, and our current demands viz. Compassionate Appointments, Pension Option and Wage revision.

With Greetings,

Yours Comradely,

Dear Comrades,
Discussion with IBA

Another round of talks took place today in Mumbai, between UFBU and IBA on our current demands.

UFBU Meeting: Prior to discussions with IBA, a meeting of UFBU was held which was presided over by Com. V. Eswaran (AIBOC). After discussions, the meeting finalised its broad approach towards the issues to be taken up with IBA. The meeting felt that all the issues viz. Compassionate Appointments Scheme, Pension Option and Wage Revision have to be expedited.

Meeting with IBA: In the afternoon, discussions with IBA took place. The IBA team was led by Mr. M. V. Nair, Chairman of Negotiating Committee, while UFBU was represented by the leaders of the constituent unions.

a) Compassionate Appointment Scheme: Further to the last meeting, improvements to be made in the compassionate appointments scheme to be finalised for recommendation to the government was discussed in today’s meeting. Our suggestions on improvements in eligibility for compassionate appointments / financial compensation, formula for working out the financial compensation, etc were broadly finalised. After fully finalizing the scheme, the same would be sent to the Government for their approval. We have suggested that the scheme should be extended to past cases from July 2004. Further developments will be informed to units in due course.

b) Pension Option: We had earlier informed our units that as per the report of common actuaries, the net shortfall in the pension fund comes to around 6,000 crores, for extending another option to the PF Optees. Today it was informed that the number of past retirees (PF Optees) comes to around 60, 000 and the additional liabilities in their case is also to be worked out as we have demanded that all the past retirees should also be covered by another option to pension.

In order to work out the methodology of sharing the additional cost, etc, a Small Committee will be meeting in the next week whereafter the matter will be taken up in the Negotiating Committee discussions.

c) Wage Revision: From UFBU, we brought to the attention of the IBA about the growing anxiety on the part of the employees and officers over the delay in finalizing the wage revision settlement. We suggested that the whole issue should be expedited and settled within the next 2 months. The IBA, while reiterating that the settlement would be effective from 1/11 /2007, desired that the details and implications of our demands be worked out at the small committee level before they react on our demands. IBA also expressed their desire to resolve the issue in the next 2 / 3 months.

d) UFBU Meeting: To discuss and workout our further approach to the issues for discussions with the IBA in the small committee, it has been decided to hold an UFBU meeting at Chennai on 19 / 12 / 2008.

It has been decided that the next round of meeting with the negotiating committee will be held in the first week of January – 2009 to be preceded by the small committee discussions.

With Greetings,

Yours comradely,


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