OVERTIME FOR SBT STAFF

As a one time dispensation, it has been decided to pay overtime wages to Award Staff for attending to works relating to Annual Closing of Accounts for a maximum of 15 hours spread over 4 days (2 hours @ 100%, 4 hours @ 170%, 9 hours @ 200%).

Staff members attending to Govt. business / collection of taxes in Treasury branches / Branches handling collection of taxes at the year end, may be paid overtime wages upto a maximum of 25 hours including the aforesaid 15 hours spread over 6 days (3 hours @ 100%, 6 hours @ 170% and 16 hours @ 200%)

KERALA IX th PAY COMMISSION: FIND YOUR NEW BASIC PAY!!

CLICK HERE TO DOWNLOAD PROGRAMME

State Bank employees to get more benefit & pay !!

State Bank employees to get more benefit & pay hike, awaits Govt. approval.
The State Bank of India employees, who had protested the 17.5 per cent pay increase on the grounds that they already had the pension option and would therefore lose out, are in for some bonanza.


The bank management is awaiting approval from the government to provide for an additional 6.4 per cent increase, which will cost the bank around Rs 290 crore. In addition, there is a proposal before the government for raising the pension for senior officers by around 40 per cent and for clerical and junior management grade employees by around 50 per cent.
A senior executive said the bank had already provided Rs 290 crore for the expected impact of the salary increase. SBI union representatives had not signed the wage settlement agreement with IBA.

Probable D.A. for Bank employees

Probable D.A. for Bank employees for Nov'10, Dec'10, Jan'11 : 46.20%
The exact increase for DA cannot be given at this stage as GOI has yet to announce the CPI for the month of September, 2010. However,
based on the CPI already announced for the month of July, 2010 and August, 2010, we are doing this guess work. The CPI announced so far are as follows:-
Month CPI
July, 2010 4063
August, 2010 4063
September, 2010 Yet to be announced


Assuming that there will be marginal increase in CPI for September, 2010, the revised DA is likely to be around 46.20%, for the months of November, December, 2010 and January, 2011 as per the revised salary structure (i.e. increase of 36 slabs !!). [The present DA is 40.80% for the months of August, September, October, 2010).

Associate bank Clerks

State Bank of India (SBI) Invited application for filling up the vacancies of 6113 Clerks in its Associate Banks. Out those 1000 will be in State Bank of Travancore (SBT) with 754 vacancies in Kerala itself. Other associates banks are State bank of Bikanir & Jaipur, State bank of Hyderabad (4 vacancy in kerala only), State Bank of Mysore and State bank of Patiala. Applications should be submitted through online at the banl websites at www.sbi.co.in or www.statebankoftravancore.com.
Total Number of Posts : 6113
Pay Scale : Rs. 7200 -19300
Qualification :
(i) Plus Two or equivalent with 60% marks (55% for SC, ST, PWD and XS)
(ii) 2 year full time diploma after SSLC(10th) with 60% marks (55% for SC, ST, PWD and XS)
(iii) Any Degree with 40% marks (35% for SC, ST, PWD and XS)
Should be able to read & write in English, knowledge in local language will be an added advantage
Age: (As on 2010 October 1) 18 -28 ( There will be a 5 year relaxation for SC/ST, 3 year for OBC and SX, 10 year for Physically handicapped and 9 years for widows in upper age limit, should submit proof while interview time.
Recruitment Process : Ther will be a written test followed by an interview. Written test will be on 16th January 2011. In kerala there is 4 centers ( Trivandrum, Kottayam, Kochi and Kozhikode).
In the Objective mode exam, there will be questions from General awareness, General English, Quantitative aptitude/ computer knowledge .
Call Letter : For E legible candidates the call letters will be send to them by post before January 8th 2011. In case of not receiving call letter, they should contact the exam center.
Fee : Rs. 350
Rs. 50 for SC/ST/PWD and XS candidates.
Candidates should have to download the cash voucher from the bank website at www.sbi.co.in and remit the fee at any sbi branch before applying online. Candidate should have to collect the candidates copy of the voucher from the bank, and use the same to fill the details including journal number while filling up the online application form. Also the candidates must have keep the candidates copy of the cash voucher while reaching the examination hall.
Note :
1. Fee Should be paid between October 1 st and October 30 th
2. Application Can be submitted through website from October 1 st to Novemebr 1 st
3. Candidate should have a valid email ID

Retiring at 65?

RETIRING at 65? Sounds incredible? For lakhs of government employees who are hoping that the UPA-II may raise the retirement age of government employees to 62 years, the 10th June’s cabinet decision to raise the Nursing teachers’ retirement age to 65 is a healthy sign that their dream may too come true in the next few years.
The decision appears like an isolated case, but the Union Cabinet’s approval to the increase superannuation age from 60 years to 65 years for the nursing teaching faculty with MSc in nursing in Central government nursing institutions, may bring hopes to many government employees approaching the retirement age.
The decision, however, came with a justification which said that there is an acute shortage of nursing teachers with post-graduate degree in nursing. As a large number of posts of teachers with MSc (Nursing) are lying vacant in the Central government Nursing Institutions, and there has been a high attrition rate, this move may prevent further exodus of nursing teachers.
Yet, it gives enough room for many government employees to probably hope and pray that the retirement age for all government employees may go upto 62.

PENSION BENEFITS

CIRCULAR NO. 26/64/2010/14 12-5-2010

TO ALL UNITS & MEMBERS

Dear Comrades,

Retired Employees & Pension Option

The unique feature of our Pension settlement is that not only the 2,66,000 existing employees will get an option to join the Pension Scheme, but even those who have retired/died after 1995/1996 will be given this option. More than 50,000 retirees/families will be benefited by this option.

Who are covered :

All those who were in the service of the Bank on the date of Pension Regulations in 1995/96 and

a) have retired thereafter before 27.4.10
b) or retired thereafter but died before 27.4.10
c) or died while in service before 27.4.10
d) or ceased to be in service under the Special VRS Scheme after 15 years of service.

How much they will pay to the Bank ;

All such retirees/families who give their option to join the Pension Scheme have to refund the Bank’s contribution to PF received by them along with additional 56% thereon.

How this formula :

v Total fund required for the option : Rs. 4774 crores
v PF paid to the retirees to be refunded : Rs. 1659 crores
v Balanced deficit in fund : Rs. 3115 crores
v To be contributed by Bank (70%) : Rs. 2181 crores
v To be contributed by retirees (30%) : Rs. 934 crores
v Formula : 934 Divided by 16.59 : 56 %

Procedure :

Þ IBA / Banks will make an offer to the PF opted Retirees.
Þ Within 60 days after the offer, option letter should be given to the Bank.
Þ Within 30 days thereafter, Bank will inform the retiree about the amount payable by them.
Þ While doing so, Commutation receivable will be netted and only the balance amount is payable.
Þ Commutation : will be based on present age on date of commutation.

Arrears of Pension :

Ø For those who have retired prior to 27.11.2009, arrears of pension will be paid from 27.11.2009.
Ø For those who retired after 27.11.2009 (but prior to 27.4.2010), arrears of pension will be paid from date of retirement.


Note : This arrears will be on full basic pension + DA without commutation.

Employees Retired after 1-11-2007 ( PF Optees )


Arrears of wage revision from 1.11.2007 till date of retirement will be paid.
Gratuity will be reworked & difference will be paid.
Their Pension/Commutation will be fixed based on 9th BPs.


We give below some live examples which explain the benefit of the option.

Example – 1

S. No.

(Rs.)
1
PF received from Bank 1,25,416.00
2
PF + 56% thereon 1,95,650.00
3
Commutation receivable 1,86,984.00
4
Amount payable to Bank (2-3) 8,666.00
5
Monthly Basic Pension + DA (before commutation ) for May, 2010) 8,046.00
6
Arrears of Pension – from 27.11.2009 till commutation is received
(Approx. 8 months) 64,368.00
7
Net Outgo (2 – 3 - 6) ----NIL….
8
Monthly Basic Pension after commutation 2,354.00
9
Basic Pension + DA after commutation (May, 2010) 6,870.00

Example – 2

1
PF received from Bank 6,26,181
2
PF + 56% thereon 9,76,842
3
Commutation receivable 3,02,382
4
Amount payable to Bank (2-3) 6,74,460
5
Monthly Basic Pension + DA (before commutation) for May, 2010 16,251
6
Arrears of Pension – from 27.11.2009 till commutation is received
(Approx. 8 months) 1,30,008
7
Net Outgo ( 2 -3 -6 ) 5,44,452
8
Monthly Basic Pension after commutation 6,420
9
Basic Pension + DA after commutation (May, 2010) 13,041
10
Monthly Interest @9% on Rs. 544,452 (Col. 7) 4,083
Example – 3

1
PF received from Bank 1,99,856
2
PF + 56% thereon 3,11,775
3
Commutation receivable 1,09,837
4
Amount payable to Bank (2-3) 2,01,938
5
Monthly Basic Pension + DA (before commutation) for May, 2010 5,903
6
Arrears of Pension – from 27.11.2009 till commutation is received
(Approx. 8 months) 47,224
7
Net Outgo ( 2 -3 -6 ) 1,54,714
8
Monthly Basic Pension after commutation 2,332
9
Basic Pension + DA after commutation (May, 2010) 4,737
10
Monthly Interest @ 9% on Rs. 154,714 (Col. 7) 1,160


Example – 4

1
PF received from Bank 359,869
2
PF + 56% thereon 561,396
3
Commutation receivable 266,814
4
Amount payable to Bank (2-3) 294,582
5
Monthly Basic Pension + DA (before commutation) for May, 2010 14,709
6
Arrears of Pension – from 27.11.2009 till commutation is received
(Approx. 8 months) 117,672
7
Net Outgo ( 2 -3 -6 ) 176,910
8
Monthly Basic Pension after commutation 4860
9
Basic Pension + DA after commutation (May, 2010) 12,279
10
Monthly Interest @9% on Rs. 176,910 (Col. 7) 1,326


Example – 5

1
PF received from Bank 577,750
2
PF + 56% thereon 901,300
3
Commutation receivable 391,700
4
Amount payable to Bank (2-3) 509,600
5
Monthly Basic Pension + DA (before commutation) for May, 2010 18,700
6
Arrears of Pension – from 27.11.2009 till commutation is received
(Approx. 8 months) 149,600
7
Net Outgo ( 2 -3 -6 ) 360,000
8
Monthly Basic Pension after commutation 7,400
9
Basic Pension + DA after commutation (May, 2010) 15,000
10
Monthly Interest @9% on Rs. 360,000 (Col. 7) 2,700

Example – 6

1
PF received from Bank 819,019
2
PF + 56% thereon 12,77,670
3
Commutation receivable 441,725
4
Amount payable to Bank (2-3) 835,945
5
Monthly Basic Pension + DA (before commutation) for May, 2010 20,369
6
Arrears of Pension – from 27.11.2009 till commutation is received
(Approx. 8 months) 162,952
7
Net Outgo ( 2 -3 -6 ) 672,993
8
Monthly Basic Pension after commutation 8,047
9
Basic Pension + DA after commutation (May, 2010) 16,346
10
Monthly Interest @9% on Rs. 672,993 (Col. 7) 5,047

Example – 7

1
PF received from Bank 190,000
2
PF + 56% thereon 296,400
3
Commutation receivable 229,542
4
Amount payable to Bank (2-3) 68,858
5
Monthly Basic Pension + DA (before commutation) for May, 2010 11,140
6
Arrears of Pension – from 27.11.2009 till commutation is received
(Approx. 8 months) 89,120
7
Net Outgo ( 2 -3 -6 ) …NIL…
8
Monthly Basic Pension after commutation 3,351
9
Basic Pension + DA after commutation (May, 2010) 9,465

All our Unions should take steps to contact the retirees ( PF Optees) and advise them of these benefits so that they can OPT for the pension scheme for which they have been longing for.

Yours Comradely,
C.H. VENKATACHALAM
GENERAL SECRETARY