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ALL INDIACANARA BANK RETIREES’ FEDERATION (Regd.)

1st TRIENNIAL CONFRENCE26.2.2013BENGALURU

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INDEX OF 1st TRIENNIAL CONFERENCE DOCUMENTS

SL.No. DESCRIPTION OF DOCUMENT PAGE No.

Conference NoticeGeneral Secretary’s ReportIncome & Expenditure A/c and Statement of Affairs ason 31.12.2010, 31.12.2011 & 31.12.2012 withAuditor’s Report dated 30.01.2013Proposed Amendments to Rules & Bye-laws of AICBRFConference ResolutionsCharter of Demands – AIBRF & UFBUDisparity in Basic Pension of Retirees under differentwage revisions & 100% D.A. Neutralisation - TableDearness Relief Table – February 2013Application for issuing Id Card to Ex-employeesOur Bank’s Holiday Homes, CBEU & SWFMinutes of Grievances Redressal Cell Meetings held on07.12.2010, 20.08.2011 & 15.09.2012Life Certificate & Non-employment CertificateMementos to Retiring employees on superannuationService Charges & Facilities to Retired EmployeesRate of Family Pension – Table & Application for FPCanara Pension Loan SchemeDearness Relief on Pension since 1993 – TableNew Pension Optees 2010 – TableCanara Bank Pensioners - Increasing TribeFormat for claiming reimbursement of Medical Expenses

Commutation TableList of Office Bearers & Central Committee MembersVishranthi – Counseling Materials for Retirees

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4567

891011

121314151617181920212223

2-3

4-45

46-51

52-5354-6566-99

100-101

102-103104-105106-118

119-129

130-131132-133134-136137-144145-146147

148149150-151

152153-154155-175

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ALL INDIA CANARA BANK RETIREES’ FEDERATION (Regd.)(Affiliated to All India Bank Retirees’ Federation)

“A.K.Nayak Bhavan”, 2nd Floor14, Second Line Beach, Chennai – 600 001

Notice to All Members of our Affiliates

NOTICE is hereby given that Ordinary Meeting of the General Body of the

Federation to meet at its 1st Triennial Conference is convened to be held at

Bengaluru on Tuesday, the 26th February 2013 at Hudson Memorial Church

Community Centre, No.21, 3rd cross, Mission Road, Bengaluru – 27 at 10.00

a.m. to transact the following business:

1) To approve the report of the General Secretary about the activities

of the Federation;

2) To approve the Audited Statement of Accounts of the Federation for

the years ending 31.12.2010, 31.12.2011 & 31.12.2012;

3) To amend, alter or rescind any of the Rules and Bye-Laws of the

Federation, notice for which has been received at least 15 days

before the Conference by the Central Committee;

4) To consider and pass any resolution for which 15 days notice to be

given prior to the date of the General Body;

5) To elect the Office Bearers and Central Committee Members and

6) To appoint the Auditors.

Office of the Federation,

“A.K.Nayak Bhavan”, 2nd Floor, (S.V.SRINIVASAN)

14, Second Line Beach, GENERAL SECRETARY

CHENNAI – 600 001.

16TH January 2013

NOTE:

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(1) Each affiliated unit shall have the right to elect one delegate for each

block of 20 members or major part thereof with a minimum of two delegates,

the maximum delegates for the General Body from an affiliated unit shall be

20. However, the Central Committee has permitted that other members

also can attend the 1st Triennial Conference as Observer.

(2) Non-receipt by any member of this notice or copies of the resolutions

and/or amendments to the Rules & Bye-laws, if any, to be moved in the

meeting, shall not invalidate the proceedings of the said meeting.

(3) Members who are desirous of moving any resolutions/or amendments

to the Rules & Bye-laws of the Federation shall give 15 days clear notice to

the General Body and forward the same to reach the Central Office of our

Federation on or before 10.02.2013.

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GENERAL SECRETARY’S REPORT PRESENTED FOR ADOPTION BYTHE GENERAL BODY MEETING AT ITS 1ST TRIENNIAL CONFERENCE

HELD ON FEBRUARY 26, 2013 AT BENGALURU

Dear Friends!

On behalf of Central Committee of our Federation, I have great pleasure inwelcoming you all to 1st Triennial Conference of our All India Canara BankRetirees’ Federation today at Bengaluru known as “Garden City” earlier and“Silicon City” now. I deem it my privilege to present this report on the eventsand activities of our Federation since we met last in our FoundationConference at Chennai on 20-12-2009 for your evaluation, discussion andfinal adoption.

At the outset, I bring to your kind notice that there is some delay in conductingthe Conference within the stipulated time due to logistic inconveniences andunavoidable reasons. As such, I would request the Delegates assembledhere to condone the delay in convening the Delegates Session at its 1st

Triennial Conference.

IN MEMORIUM

Since we met last at Chennai on 20-12-2009, nature had snatched awaymany great political leaders, thinkers, sport persons, artistes, eminentpersonalities, trade union leaders, Leaders of Retirees’ Movement, membersof retirees’ organisations, their family and several unknown people whobecame victims of natural calamities, flood and terrorist attacks etc. Someof the prominent among them are as under:-

Satya Sai Baba Dr. Y. S. R. Reddy Dara Singh Jyoti BasuF.M.Hussain Bhimsen Joshi Jagjit Singh Vasant SatheRamnivas Mirdha C.K.Chandrappan N.Varadarajan Mrinal GoreBrajesh Mishra Malaysia Vasudevan K.P.Bhattarai Arujun SinghSujatha (Actress) MahendrasinghTikait Asad Ali Khan Shammi KapoorK.Subbu Devanand P.K.Iyengar A.N.RaySidharthsankarRay S.S.Chandran Swarnalatha K.M.MathewsM.Eknath Pai Arvind Mafatlal N.K.P. Salve DipankarMukerjeeNeil Armstrong Dr.Verghese Kurien R.Parthasarathy A.M.GopuA.K.Hungal Rajesh Khanna Lakshmi Sehgal Joy MukerjeeNawab of Pataudi Steve Jobs R.N.Godbole G.KasturiG.P.Koirala Pramod Gogai S.G.Joshi O.A.AzeezM.S.Uppal Dr.Raj Bahadur Gaur Chaturanan Mishra M.K.PandheR.D.Trivedi Satish Sharma S.K.Jain Gangadhar ChitnisY.R.Chopra Prof.R.J.Garde N.C.Soundaravalli Yerran NaiduSurendra Mohan K.Karunakaran Bhupen Hazarika Elizabeth TaylorK.C.Pant Bal Thackarey I.K.Gujral PanditRavi ShankarRanganath Mishra M.S.Udhayamurthy Dushyant Trivedi

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Our retirees’ movement became poorer because of the demise of SriV.C.Joshi (UBI) CC Member of AIBRF, Sri M.N.Parikh (CBI), Vice President ofAIBRF and Sri Dushyant Trivedi, Secretary of our Canara Bank Retirees’Association - Gujarat. They carried the banner of AIBRF with greatercommitment and conviction for creating a better future for bank retirees.Their absence is not only a great loss to us, but also to their families whosuffered a vacuum.

We have during the period under review, lost a good number of retiredcolleagues who were working with us in our Bank. We record our deep senseof sorrow over the demise of these colleagues.

We dip our banner in respectful homage and convey our heartfelt condolencesto the members of the bereaved families. We pray that their souls rest inbliss in the palace of eternity. Let us observe few minutes silence in memoryof the departed souls.

GLOBAL ECONOMIC SCENARIO

Severe crisis in the financial sector was witnessed the world over due tothe impact of US sub-prime lending debacle which resulted in the failure ofa number of Banks in the West, including the giant banks of America thusdemonstrating that the big was not all that safe, though the champions ofthe globalisation have been advocating that the consolidation of bankingsector through merger and acquisition to create bigger corporate entity isthe panacea does not hold good. The collapse of the investment banks includingseveral mutual funds was a great set back to the senior citizens for thesimple reason that the Pension Funds all over the West were being used forthe speculative operations thus endangering the safety of the investmentand comfort level of the Pensioners. This is a lesson for all of us to learnfrom these experiences. The method of operating the Pension Fund throughthe investment in the Government securities is the only safeguard for theretirees so that they are able to get their pension benefits without anytension.

The world witnessed several significant events during the period. We sawone of the worst type of economic melt-downs at the beginning of 2008when the mighty financial institution, Lehman Brothers collapsed registeringfinancial loss of more than 600 billion dollars (equivalent to one year GDP ofIndia).

Similarly many other mighty organisations in U.S.A. and Europe collapsed.This financial crisis was known as sub-prime loan defaults. Governments acrossthe world had to pump in huge liquidity running into trillions of dollars in the

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system to save global economy from irreversible collapse. Of late, worldeconomy is making efforts to come to growth path. But things do not lookto be normal. We keep on hearing debt crisis in Greece, Portugal, Spain, Italyetc and downgrading of sovereign rating of mighty nations like USA, Franceetc. Entire world from U.S.A. to Europe, Asia to Africa is sitting onoverleveraged positions in major commodities like Gold, Silver, Oil, Stock andCurrency markets. Speculators are hyper active and certain big operatorsinfluence prices of commodities through screen based On-line trading. It fuelshigh inflation beyond tolerance limits affecting life of millions of common men.More so, it affects the senior citizens who have limited source of income withincreasing expenses on necessities and medical treatment.

NATIONAL ECONOMIC SCENARIO

With an impressive record of 8% to 8.5% growth rate for 4 years, India’sGDP growth slowed down to 6.5 per cent in 2011-12, mainly due to sharpslowdowns in the manufacturing and mining sectors and the impact of theslowing world economy. The agriculture sector grew by 2.8 per cent in2011-12. Even as economic growth slowed down, annual WPI inflationcontinued to persist at 7.2 per cent in April 2012, with food inflation touching10.5 per cent. India’s trade and current account deficit has also been wideningin the backdrop of a slowdown in exports and high import demand for oil andgold. The current account deficit increased from 2.7 per cent of GDP in 2010-11 to 4.3 per cent in the third quarter of 2011-12, which is a matter ofserious concern.

The Indian rupee has depreciated sharply to over Rs.55 per dollar, which is ahistoric low, from around Rs. 45 per dollar a year ago. This is making importsof crucial items like oil and fertiliser costlier. Funds are being pulled out of Indiaby the FIIs, despite the UPA government’s desperate attempts to woo them.India’s external debt increased to $335 billion (over Rs.18 lakh crore) at end-December 2011 from $306 billion in March 2011 and $261 billion in March2010. This sharp increase in foreign debt is on account of a rise in short-termdebt and external commercial borrowings, which is increasing India’s externalvulnerability. Slowdown in economic growth, persistent inflation, wideningcurrent account deficit, depreciating currency, capital outflows and increasingexternal debt, especially of the short-term variety, are pointers to adeteriorating economic situation.

The establishment and corporate media are portraying this deterioration asresulting from the failure to push through neo-liberal reforms like allowing/increasing FDI in Retail, Insurance/Pension Sector and eliminating subsidieson fuel and fertilizers. This is a travesty of facts. Rather, like in the rest of the

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world, the worsening economic situation in India is a direct outcome of thepursuit of New Economic Policies. While increasing income inequalities havemade the growth process unsustainable, deregulation and concessions forspeculative finance and the big corporates are threatening the stability of thefinancial sector.

INFLATION

Inflation has sky-rocketed in the last 3 years because of global reasons aswell as various policy decisions taken by the Central Government in the nameof economic reforms. Consumer Price Index which was 3819 at the beginningof 2010 has climbed to 4709 in August 2012 registering an increase of 890points which was unimaginable a few years back.

On account of increase in the cost of living index, Bank Pensioners are beingcompensated through increased dearness relief as follows:

Such unprecedented increase in inflation is cause for worry to all of us as itputs serious pressure on our purchasing power despite the fact that bankpensioners are compensated to certain extent with half-yearly review indearness allowance. We demand from the government to take urgent andeffective steps to contain inflation to the tolerance level particularly in essentialcommodities.

POLITICAL SCENARIO

In general elections held in 2009, U.P.A. government again came to powerwith improved majority. However, within short time, UPA-II came under heavyattack and criticism due to unearthing of several mega scams like 2G spectrum,Commonwealth Games Scandal, Aadarsh Housing Society irregularities,coalscam etc. Government had also to face severe criticism in the matter ofappointment of controversial retired bureaucrat Shri P. J. Thomas as Central

INCREASED DEARNESSRELIEF IN SLABS

91276127604867

MONTH & YEAR

February 2010August 2010February 2011August 2011February 2012August 2012February 2013

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Vigilance Commissioner which was ultimately struck down by the SupremeCourt. Impact of these developments is that the government is found busy,most of the time, in handling these scams and consequent political attacks.Governance, transparency in administration and legislative work in parliamentwhich could only bring improvements in lifestyle of common man go intobackdrop in such scenario. We keep the fingers crossed with the hope thatsome improvement will be seen in the governance in the remaining period ofUPA II. Social activists like Sri Anna Hazare, Kiran Bedi and Sri Arvind Kejriwalare creating ripples in focusing the issue of corruption in higher places.

However, to expect lasting solution in this area in the short term will be toomuch to expect. Such movements will have to be converted into massmovements and continued on a long term basis. It is my appeal to theretirees present here to participate and support genuine movements againstblack money and corruption as responsible citizens of this country.

BANKING SCENARIO

Banking is the lifeline of Indian economy with which we all are proud to havebeen directly associated for last 30-40 years. Major Indian Banks have shownreasonably good performance in terms of deposit and credit growth,improvements in profits, containment of NPA level etc without any majorscam. It adds feather to the cap of Indian Banks that they stood like rockamidst the tide of global melt-down. Public Sector Banks in India had becomea model of emulation by the world banking community. Performance of PSBsand also our bank in the last 5 years is furnished in the information documents.

Interest rate on Term Deposit in most of the banks for longer maturities arereasonably good. On this count, I wish to invite attention of the delegatesand observers that they should advise their retired colleagues to plan longterm investment in bank deposits, more particularly in Canara Bank, ourbeloved Institution ensuring guaranteed returns on sustainable basis insteadof considering investment in high risk assets like stocks, real-estate etc.Investment in bank deposit is the best prescription for safety and security inthe advanced stage of life.

The government of India and RBI have launched programmes of mass bankingnamed as ‘Financial Inclusion and Financial Literacy’ with an objective to bringbanking facilities within the reach of poorest among poor people. Under theseprogrammes, banks have been asked to cover unbanked centres by opening65000 more branches, to appoint business correspondents to offer bankingfacilities to customers at their door steps, to provide training facilities to

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customers at district head quarters, opening of no-frill accounts with minimumformalities etc.

SENIOR CITIZENS’ MOVEMENT IN INDIA & GOVT’S INITIATIVES

India is known as a nation of young people. Today, majority of our populationis below 30 years. However, simultaneously, with steady flow of income andincreasing medical facilities, senior citizens population is also increasing innumbers. There are more than 100 millions citizens who are above 60 in thiscountry. Hundreds of retirees’ organizations and senior citizens fora havecome up and have been working to protect their interest. As a result of theseorganisations and policy decisions of the government, the following benefits/concessions have accrued to Senior Citizens:

Higher income tax exemptions upto Rs. 250000 instead of normalslab of Rs. 150000/- for male and Rs. 190000 for female andexemption limit upto Rs. 5 Lacs for super senior citizen category;

In the last budget, age related definition of Senior Citizen has beenreduced from 65 to 60 years benefiting more than 40 Lacs assesses;

Concession of 40% and 50% in railway fare for male and female seniorcitizens respectively had been implemented;

50% discount in air fare by Air India; Additional interest of half percent in bank deposits; Separate lines for senior citizens in railway booking counters; Facility of reverse mortgage loans; Senior Citizens Security and Maintenance Law to provide protection to

older people.

We are happy to inform you that some leading comrades of bank retirees’movement are involved in Senior Citizens’ Programmes. One such programmeorganized was Senior Citizens’ National Protest Day on 16th August 2010wherein more than 2000 senior citizens including bank retirees haveparticipated. Shri R.S.Desai, Deputy General Secretary of AIBRF at Mumbaiand Sri C.Gopinathan Nair, Organising Secretary of AIBRF atThiruvananthapuram are actively associated with this movement.

But, lot of steps need to be taken in the area of health management andreliable pension benefits in the unorganized sector for senior citizens. Seniorcitizens movement is likely to gather further momentum in coming years.Our units/members must take necessary steps to actively integratethemselves in such movements in the days to come.

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UNITED FORUM OF BANK RETIREES’ ORGANISATION (UFBRO)

In early 90’s, Bank retirees started organizing themselves in a small wayamong known people. After signing of Pension Settlement/Joint Note on 29-10-1993, AIBRF as well as other organisations in various Banks have beenorganising the Bank retirees with a view to promoting the interest and welfareof retired bank employees across the country. More than 1 Lakh employeesopted for VRS in the year 2000 and this imparted new dimension to the bankretirees’ movement. The following Apex-level bodies are visible in the bankretirees’ movement:

(1) All India Bank Retirees’ Federation (AIBRF) in the year 1994 - representingcomposite organizations, membership of which is open to all retiredcolleagues irrespective of their past designation and

(2) Retired Bank Officers’ National Confederation (RBONC) in the year 2003representing Officer Cadre Organisations, membership of which is openexclusively for officers community.

(3) All India Retired Bank Employees’ Association

All these Apex-level organisations have recently come together in a forumknown as United Forum of Bank Retirees’ Organisations, to represent theentire bank retirees’ community at Industry level before IBA/Government.This is on similar lines of United Forum of Bank Unions (UFBU) representing –Five Workmen Employees’ Organisations and Four Officers’ Organisations.Today, more than 3 lac bank retirees are members of one or other retirees’organisation.

ALL INDIA BANK RETIREES’ FEDERATION

AIBRF was born about 18 years back in 1994, thanks to the initiative of theveteran trade union leader, Late Sri Ramesh Chander Chakraborty & SriT.M.Mathews to protect interest of bank retirees. We are happy to reportwith all pride that AIBRF is marching forward from strength to strength andtoday it is one of the most credible and biggest retirees’ organisations in thebanking industry consisting of 42 affiliates with more than 70000 members.

AIBRF strongly believes in all cadre unity and advocates composite organizationconsisting of retirees irrespective of past designations while in service. It

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accords affiliation to those entities which believe in this philosophy and workfor it. We believe that composite retirees’ organizations alone are in the bestinterest of retirees and this is the universal phenomenon in other organisedsectors too.

Our National Organisation AIBRF is a composite organisation consisting ofretirees of all cadres. This is our inherent strength. Once an employee retiresfrom the bank the veil of the grade/scale/position is dropped and he will berecognised only as Pensioner/Retiree. Our meetings exhibit this onenessamongst all categories of erstwhile employees. Let us salute our forefatherswho could bring about such a harmony and decided to build a commonplatform for all categories of employees in the banks which would carryforward the movement of the retirees with a sole objective of achieving thecommon welfare of the retirees in the Bank. We are committed to carryforward this oneness amongst the Pensioners/Retirees and that would bethe fitting tribute to the founders of our movement.

However, in view of our movement gathering further momentum, some ofthe in-service unions have formed retirees’ organisations on the basis of thecadre to which they belonged while in service. We strongly oppose such actsand would take all necessary steps to handle such situations effectively. It isour appeal to all of you to remain vigilant on this count and educate themembers by explaining that multiplicity of the retirees’ organisations in thebanking industry would harm our cause immensely.

ACHIEVEMENTS OF AIBRF

During the period under review, there are many significant achievements tothe credit of our AIBRF. Some of them are given below in brief:

CONSTITUTION OF GRIEVANCE REDRESSAL CELL:

It has been our long felt need to have grievance redressal machinery forretirees in banks. With the support from the Parliamentary Standing Committeeheaded by Dr.Sudarsana Nachiappan, M.P. and further with AIBRF’s continuouspersuasion at IBA level, IBA agreed to advise member banks to set upgrievance cell and hold half yearly meetings with the representatives of retirees’organizations to discuss and solve retirees’ issues across the table. We considerthis as a great achievement and de-facto recognition of retirees’ organizationsat the bank level. Though it is an achievement of non-monetary nature, thiswill be a useful forum for solving retirees’ issues from time to time. Further itwill also be an avenue for exchange of views and to know mindset of bankmanagement towards retirees’ issues. We hold that a small beginning has

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been made in this regard and this would usher in an era of genuine Bi-partismby widening the scope and content of grievances redressal forum in the daysto come.

ARREARS TO THOSE OPTED FOR SVRS 2000:

You are aware that Pension optees who retired under SVRS 2000 were deniedweightage of 5 years of notional service as contemplated in PensionRegulations. Aggrieved SVRS retirees in many banks including Canara Bankchallenged the decision of banks before various High Courts.

This injustice was rectified by an historic Supreme Court judgement in CivilAppeal No.1942 to 1957 of 2009 on 27-03-2009. However, the petitionerbanks as well as IBA filed Review Petition. We are happy to inform you thatthe Apex Court found no merit in the review petitions filed by the IBA anddismissed them on 12-08-2009.

This legal battle was fought by certain retirees’ organisations and individualswith the support of their Federations. Orders and directions passed byHonourable Supreme Court, apply equally, to all those who are “similarlyplaced” but who were neither Petitioners nor Respondents in the caseconcerned before the Hon’ble Supreme Court.

In view of the above, AIBRF took up the matter with IBA for extending benefitsof this decision to all other similarly placed bank retirees. Accordingly, IBAissued circular No.CIR/IIR & IR/76/L-43/G2/2009-10/1134 dated 17th August2009 in this matter. Because of this, about 1 Lac VRS optees received pensionarrears of Rs.650 Crores and further increase in pension of about Rs.600/-p.m. on an average regularly.

ANOTHER PENSION OPTION

27th April 2010 was a historic day for the bank retirees when UFBU signedSettlement/Joint Note with IBA giving another option for pension to bankemployees including past retirees. This has brought smile on the faces of50000 families of retirees who have now started getting assured monthlypension under time tested defined benefit pension scheme which they missedearlier. As you are aware, UFBU & AIBRF had been relentlessly working foranother pension option for serving employees/past retirees for last severalyears.

UFBU after prolonged negotiations with the IBA signed the Settlement on27.04.2010 on Wage Revision and Pension option at 8.30 P.M. This was our

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finest hour. We have the sense of satisfaction that through our sustainedstruggle supported and spearheaded by the UFBU, a negotiated Settlement/Joint Note on Wages & another Pension option became a reality. In thebackground of complex and complicated situation arising out of pensionfunding/costing and the Central Government’s imposition of New PensionScheme in an environment of liberalized economic scenario, this Settlementon one more option for pension is indeed a landmark achievement benefitting3,00,000 employees & retirees.

In addition to the monetary benefits received by the retirees, this achievementhas brought qualitative change in the retirees’ movement resulting in greaterunity amongst bank retirees, increase in membership of retirees’ organisationsproviding stronger organisational platform for future struggles to achievelong pending demands of pension updation and others.

3rd TRIENNIAL CONFERENCE OF AIBRF

3rd Triennial Conference of AIBRF was held at Kolkata on March 1-3, 2012.The Conference was historic with attendance of around 1500 bank retireesthronging University Institute Hall, the venue of Inaugural Session and about500 Delegates/Observers participated in the Delegates Session. 45 Delegatesactively deliberated on General Secretary’s report covering various bankretirees’ issues. This indicates the growing confidence and deep involvementof bank retirees in AIBRF. Dr.E.M.Sudarsana Nachiappan, M.P. inaugurated theConference. Coms.C.H.Venkatachalam, Convenor UFBU, Rajen Nagar,President AIBEA, Pradeep Biswas, General Secretary BEFI addressed theinaugural session.

24 resolutions were unanimously adopted in the Conference. Phenomenalgrowth in membership of AIBRF from 19000 in December 2008 to about52000 in December 2011 proved that retirees’ movement is growing strongerand AIBRF is the mainstream of bank retirees’ movement. The followingwere unanimously elected as principal office bearers:

Sri S.R.Kulkarni ChairmanSri S.M.Deshpande PresidentSri S.C.Jain General SecretarySri M.S.Chourey Treasurer

Also, we are happy to note that duly recognising the strength and contributionof AICBRF to the general movement of bank retirees, 3rd Triennial Conferenceof AIBRF held at Kolkata in 2012 has entrusted the following responsibilitiesto our Office Bearers for the ensuing term:

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Sri S.V.Srinivasan, Chennai Deputy General SecretarySri V.K.M.Varma, Cochin Organising SecretarySri A.K.Bansal, New Delhi Organising SecretarySri A.B.Kasturirangan, Chennai Central Committee MemberSri M.Venugopalan, Palakkad Central Committee MemberSri Y.V.Subba Rao, Hyderabad Central Committee MemberSri B.S.A.Rao, Mumbai Central Committee MemberSri B.Venkat Rao, Bengaluru Central Committee Member

RELATIONSHIP WITH UFBU

We all know AIBRF relationship with UFBU and its Constituents is a verycrucial factor for success in our future struggle to resolve pending issues andaccordingly it has enhanced considerably for better. AIBRF representativeswere invited by UFBU to Mumbai to discuss and explain retirees’ issues. Further,AIBRF was given chance to address National Convention of UFBU held inDelhi in May 2011. Continuous efforts on the part of AIBRF have producedcertain positive results. Now UFBU and its constituents have passed unanimousDeclaration in the National Convention which highlighted retirees’ demandsprominently. UFBU also published separate posters on our demands at thetime of strike on 5.8.2011. Recently AIBEA has written letter to the FinanceMinister on the demands of retirees. In a nut shell, impact of AIBRF has beenfelt by UFBU & its constituents.

ACTIVITIES OF A.I.C.B.R.F.

As you are aware, the Foundation Conference held at Chennai on 20-12-2009 was a resounding success. The large participation of membership fromall over the country and the enthusiasm exhibited by the participants reflectedthe mood of the retirees that this budding Organisation is the truerepresentative of all retirees in Canara Bank.

Immediately after formation of our Federation, the resolutions passed at ourFoundation Conference at Chennai were forwarded to the Chairman of ourBank, Indian Banks’ Association and various Ministries in the Government fordoing the needful.

On 11-01-2010, we sought affiliation with the mainstream of bank retirees’movement All India Bank Retirees’ Federation and the affiliation was grantedaccordingly.

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FORMATION OF STATE UNITS:

1. On 25-02-2010, Canara Bank Retirees’ Association – Northern ZoneDelhi was formed, enabling retirees from Delhi and nearby States tobecome members.

2. On 03-03-2010, Canara Bank Retirees’ Association - West BengalUnit was formed. Com.Rajen Nagar, President of AIBEA greeted theparticipants in the Foundation Conference.

3. On 06-03-2010, Canara Bank Retirees’ Association – Madhya PradeshUnit was formed facilitating retired employees from the nearby Stateof Chhattisgarh also to become members of their Unit.

4. Canara Bank Retirees’ Association – Odisha on 02-05-2010.5. Canara Bank Retirees’ Association – Karnataka on 10-05-2011.6. Canara Bank Retirees’ Association – Maharashtra on 01-10-2011.7. Canara Bank Retirees’ Association – Uttar Pradesh & Uttarakhand on

18.03.2012.8. Canara Bank Retirees’ Association – Gujarat on 06-06-2012.

As of now, we have 13 units across the country affiliated to us and we havealso done spade work for establishing our units in Bihar, Jharkhand, Goa,Chandigarh & Punjab in the near future.

Names of principal office bearers elected in their Conference are furnishedbelow:

Name of Unit President Genl Secy/Secy Treasurer

01.CBRF - Chennai

02.CBRA – Cochin

03.SVRSRWA - Kerala

04.CBRSA – A.P.

05.CBRA – Madurai

06.CBRA – West Bengal

07.CBRA NZ – Delhi

08.CBRA – M.P.

09.CBRA – Karnataka

T.V.Alwan94453 56272A.P.Ravindranath92494 25800P.K.Kesavan97447 24105D.V.Krishna Rao93479 45033K.S.Ramakrishnan99523 22366M.K.Saha94338 07235Harish Kaila98720 71463V.G.Pande98265 37986B.Haridas Adiga94487 54012

A.B.Kasturirangan94443 32089V.K.M.Varma93494 99869N.S.K.Nair94464 01841Y.V.Subba Rao98496 20781C.R.Venkateswaran94425 82938Dipankar Sen98315 35339A.K.Bansal99680 72320K.D.Parsai98265 37986B.S.Joshi99863 14974

R.Subramanian94444 03572Rita Balachandran98950 32206S.V.Iyer94463 29838S.Eeranna98664 90365S.Kannan94871 33722Asimkumar Datta98361 51989S.N.Pandey98718 40666D.C.Mehta94253 52213A.P.Nagesh Rao96328 11700

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Membership is the basic and fundamental strength of any Organisation. Weare happy to inform that we have been able to make significant inroad inmembership drive by covering new geographical areas and bringing moreretirees to our fold. At the time of our Foundation Conference at Chennai in2009, we were just above 3000. Today, when we meet at Bengaluru, ourstrength has considerably increased to more than 5000. This has beenmade possible because of the continuous efforts made by our affiliates,leaders and members and favourable atmosphere created by anotherpension option in 2010 and 2012.

REGISTRATION OF OUR FEDERATION

During October 2010, we have applied to the Registrar of Societies, ChennaiNorth, Chennai for registration U/s 10 of the Tamil Nadu Societies RegistrationAct, 1975. We are happy to inform that our Federation has since been issuedwith Certificate of Registration.

CBEU PROVIDES OFFICE SPACE TO AICBRF

Immediately after formation of our Federation on 20-12-2009, Canara BankOfficers’ Union accommodated us in their office and Canara Bank Retirees’Forum, Chennai donated us Rs.50,000/- towards purchase of Computer andother accessories. We gratefully acknowledge their gestures.

31st December 2010 is a RED LETTER DAY in the history of All India CanaraBank Retirees’ Federation. It was on this day, we moved to new office in the2nd Floor at A.K.Nayak Bhavan, 14 Second Line Beach, Chennai from wherethe Central Office of our beloved Federation is functioning as smolney forretired bank employees. Com.P.R.Rajagopal, President, CBOU, Com.D.LukeBaskaran, President CBEU, Com.D.D.Rustagi, General Secretary CBEU andother functionaries greeted us on the occasion.

It is an incontrovertible historical fact that Canara Bank Employees’ Union isthe mother of all Trade Unions in Canara Bank. If today AICBRF could attainan enviable position of getting the representative status for the retirees in

10.CBRA – Odisha

11.CBRA – Maharashtra

12.CBRA – Uttar Pradesh

13.CBRA – Gujarat

S.B.Kar94370 36342O.M.Mahindrakar98208 53060M.C.Katiyar94122 64835Atul Anjaria98257 47266

J.C.Pattanaik94383 44630B.S.A.Rao99207 16444R.K.Dhawan94150 86232Dushyant Trivedi98250 28473

J.K.Mohanty94373 01010Damodar Band99699 20993J.S.Vatsa98897 83989Bipin R.Pandya96011 16212

Name of Unit President Genl Secy/Secy Treasurer

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the Bank, it is due to significant role of CBEU in taking the retirees to the levelof discussion with the Bank for advancing the interests of the retirees. NowCBEU has given separate cabin with requisite infrastructure to AICBRF tofunction and spread its wings throughout the length and breadth of the country.

We are proud and beholden to the leadership of Canara Bank Employees’Union for their farsighted vision in carrying forward the legacy of nurturingnot only the composite movement of the workforce in the bank, but also themovement of retired employees in Canara Bank.

OUR WEBSITE – www.aicbrf.in

Information technology is taking giant leap forward in the world. In everywalk of life, both in personal/official life, computer has become inevitable.The medium of internet is creating waves amongst the young and the old.Bank Retirees are increasingly becoming techno-savvy. In an era of fastchanging digital technology and instant communication, as an Organisation ofBank Retirees, we too have to grapple with the advancements in thetechnological front. Hence it is appropriate and timely that we too develop awebsite for our Federation. It is a matter of pride and happiness that utilizingin-house talents, our Federation has been able to construct website. We arehappy to inform that in a small function arranged locally at Chennai on 01-11-2011 at 05.30 p.m., Com.D.D.Rustagi, Joint Secretary, AIBEA and GeneralSecretary, Canara Bank Employees’ Union launched our website.

This is a maiden attempt on our part and the website was developed by ourCentral Committee Member Sri K.Parasuraman at Chennai within short time.We thankfully acknowledge his painstaking efforts towards developing thewebsite. Over a period of time, we shall improve its contents, so that itbecomes more attractive and retiree-friendly.

We request our retirees to browse our website regularly and we are uploadingBank’s/Federation’s important circulars/materials periodically in the website.Thus, the website would be of immense value not only to Canara Bank retirees,but also to other bank retirees as well.

SUBMISSION OF AIBRF MEMORANDUM

In response to the call of our National Organisation, All India Bank Retirees’Federation, the following Office Bearers/ Central Committee Member of ourFederation submitted the memorandum in a delegation to Shri Arun Kumar

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Nahar, our General Manager, Personnel Wing, Canara Bank, Head Office,Bangalore on 28.03.2011 at 04.00 p.m:

1. Sri S.V.Srinivasan, General Secretary, Chennai.2. Sri A.B. Kasturi Rangan, Treasurer, Chennai.3. Sri B.S. Joshi, Secretary, Bengaluru.4. Sri B.Haridas Adiga, C.C. Member, Bengaluru.

In our oral submission during delegation to the General Manager, we highlightedthe 9 longstanding demands of the bank retirees enumerated in thememorandum and requested the Bank to extend support for resolvingvexatious issues. The General Manager gave a patient hearing to ourdelegation and assured to convey our sentiments to the Indian Banks’Association, Mumbai. The discussion lasted for about 20 minutes.

During the months of March & April 2011, AIBRF and its affiliates submittedmemorandum on our demands to Members of Parliaments, Bank Chairmen,UFBU constituents etc. 12 Members of the Parliament forwarded theMemorandum to the Finance Minister with their recommendations and a fewMPs raised questions in Parliament on retirees’ issues. In this way, theprogramme could achieve the object of drawing attention of the concernedauthorities on our demands.

In response to AIBRF’s call, about 12000 postcards were written by theretirees in their own handwriting in different languages and sent to FinanceMinister drawing his attention to our pending demands.

OUR CHARTER OF DEMANDS

As per the decision taken at AIBRF Office Bearers meeting held at Lonawalaon 03-03-2011, a Sub-Committee was constituted in March 2011 under theConvenorship of Shri P.S.L.M.Haragopal and Sarva Shri M.V.G. Nair, S.V.Srinivasan and Pratap Shukla as members to forumulate Bank Retirees’ Charterof Demands. In this process, our Federation AICBRF, made humble contributionto the collective understanding on longstanding issues affecting the bankretirees. After fruitful deliberations in Sub-Committee Meetings held atBengaluru and Hyderabad, a report was submitted for consideration by theCentral Committee of AIBRF at its meeting held at Mangalore on 17th & 18th

September 2011 and the Charter of Demands was approved unanimously.

9th Bipartite Settlement expires on 31-10-2012 and with a view to securingreasonable share for the bank retirees in the forthcoming settlement, ourCharter of Demands was handed over to all Constituents of UFBU in a

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delegation of AIBRF Office Bearers/Central Committee Members with a requestto UFBU to include them in their final Common Charter of Demands to besubmitted to the IBA.

IMPLEMENTATION OF 2ND PHASE OF OUR AGITATIONALPROGRAMME

As directed by our National Organisation, All India Bank Retirees’ Federation,we observed 1st phase of our agitational programme to draw the attentionof the authorities concerned on the demands of bank retirees by way ofleading delegation of our Office Bearers to the General Manager, PersonnelWing, Canara Bank, H.O., Bengaluru and submitted Memorandum on28.03.2011.

AIBRF announced 2nd phase of agitation calling upon the retirees to sendsigned hand-written post cards containing our demands to the residentialaddress of the Honourable Finance Minister between 15.06.2011 to30.06.2011. We received the feed back that around 3200 post cards weresent to the FM by our members.

BANK RETIREES SUPPORT THE STRIKE CALL ON 28-02-2012 GIVENBY BANK UNIONS

Central Trade Unions gave a call for All India General Strike on 28TH February2012 protesting against the government’s policies and highlighting 10 demandswhich included:

1.Removal of all ceilings on payment and eligibility of Bonus, Provident Fund;

2. Increase in the quantum of Gratuity;

3. Assured Pension for all.

Responding to the call of our National Organisation All India Bank Retirees’Federation, we called upon our members to participate in the mass meeting/demonstration arranged in connection with the strike action on 28.02.2012by bank unions in their respective State/District/Taluk level and expresssolidarity with the striking people. We received reports that many of ourretiree members participated in the programmes in many centres.

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PAYMENT OF ARREARS TO SVRS 2000 RETIREES IN TERMS OF 29(5) OF PENSION REGULATIONS 1995

You are aware that Pension optees who retired under SVRS 2000 were deniedweightage of 5 years of notional service as contemplated in PensionRegulations. Aggrieved SVRS retirees in many banks including Canara Bankchallenged the decision of banks before various High Courts. In Chennai,K.Parasuraman & Others filed WP No.5816/2002 in Madras High Court.

This injustice was rectified by an historic Supreme Court judgement in CivilAppeal No.1942 to 1957 of 2009 on 27-03-2009. However, the petitionerbanks as well as IBA filed Review Petition. We are happy to inform you thatthe Apex Court found no merit in the review petitions and dismissed them on12-08-2009.

In the meantime, in a judgement delivered by Madras High Court on a WritPetition filed by Sri K.Parasuraman & Others on the very same issue, theCourt directed Canara Bank to make payment of arrears to all similarly placedretirees.

On account of implementing the judgment of the Supreme Court, we arehappy that about 4417 retirees under SVRS 2000 have been benefitted inour bank by way of receipt of arrears to the tune of about 42.97 Crores(upto March 2009) with additional pension liability of Rs.0.55 Crores fromApril 2009 onwards.

WELFARE MEASURES TO RETIREES IN OUR BANK

In our Bank, Staff Welfare Measures was introduced in 1991-1992.Reimbursement of Medical Expenses (Rs.500/-) to Superannuated retireeswas introduced during the year 2000. It was increased to Rs.1,000/- duringthe year 2002 and further enhanced to Rs.1,500/- from the year 2006onwards.

With enhancement in the cap for Staff Welfare Measures permitted by theGovernment recently, our Bank has allotted 3% of net profit subject to amaximum of Rs.25 crores as Staff Welfare Measures. Estimated expenditureunder welfare measures to retirees in our Bank for 2012 – 2013 is aroundRs.3,00,00,000/-

We are of the view that in the matter of extending social welfare measures toretirees, there cannot be discrimination on the basis of mode of exit frombank’s service. We are happy to inform that as a sequel to our persistent

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efforts, for the financial year 2012 – 2013, the amount of reimbursement ofmedical expenses is enhanced to Rs.2000/- p.a., besides SVRS & VRS retireesalso (with 60+ age) becoming eligible for Medical expenses.

One of the important challenges retirees face in general is age-related ailments.They not only weaken the body, but also mind. Periodical health check-up,pathological tests and treatment coupled with follow-up are essential.Advancement in medical research and treatment have brought both reliefand pain. One can live longer. But, to live longer, treatment costs. Variousstudies reveal that treatment of ailments/diseases take away entire savings/assets or resulted in heavy private borrowing pushing the pensioners topenury. It has been our considered view that retired employees of our bankare to be adequately covered by medical insurance, even if contributory innature. However, the same did not materialise in 2012. It would be ourendeavour to ensure that retirees in our bank get group medical insurancecover under Welfare Measures to Retirees in future.

We find, the present allocation made by the Bank towards Welfare Measuresto retired employees of our Bank to meet the present requirement (as wellas future requirement of retiring employees on account of growing numberof serving employees retiring in the next few years), is not adequate enough.

Therefore we fervently appeal to the Bank Management/IBA/Govt:

1. To increase the allocation of welfare fund from the present 3% ofbank’s net profit to 5% and allocating the additional amount of 2% forexclusive benefit of retirees, the utilisation of the amount beingdetermined in consultation with retirees’ representatives.

2. To formulate Hospitalisation Scheme for retired employees of our Bankon the lines of one time lump sum payment (one month’s basic pensionat the time of retirement along with Bank’s contribution towards welfareof retired employees) for getting life time coverage of medical benefit.

ACHIEVEMENTS OF A.I.C.B.R.F.

LOAN SCHEME TO PF OPTEE RETIREES:

Many of the Provident Fund Retirees desirous of pension had been anxiouslyenquiring with us since signing of settlement on pension option as to howmuch they had to refund to the bank. Quite a good number of our erstwhilecolleagues also expressed their concern that on account of their having to

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meet the social obligations like children’s marriage, post-retiral health blues,family functions and other domestic commitments over a period of severalyears, their post-retiral resources got considerably depleted.

In the above backdrop, on account of liquidity problem being experienced byretired employees, on May 14, 2010, we had taken up the matter with themanagement to extend its helping hand by evolving Loan Scheme for PFOptee Retirees of our Bank to join Pension Scheme. Acceding to our request,the Bank introduced a new scheme for this purpose known as CANARAPENSION - II which was circularised by the Retail Banking Division Vide CircularNo.357:2010 dated 13.10.2010. As the Scheme fell short of ourexpectations, we had again taken up the matter with the bank to coverspouses of deceased PF optee retirees in need of loan facility. The Bankgracefully extended the loan facility to such spouses also to join pensionscheme.

FORMATION OF GRIEVANCES REDRESSAL CELL AT H.O. ON07.12.2010

We have witnessed during our service life in our Bank that Joint Conferenceof Representatives of Management and recognised Union/Association areheld periodically and in such meetings, several issues concerning servingemployees are being discussed. Several benefits are secured during suchmeetings, where some of the issues are also negotiated. There was nostructured mechanism to discuss retirees’ issues in our Bank.

In a meeting of Parliamentary Standing Committee on Personnel, PublicGrievances, Law & Justice headed by Dr.E.M.Sudarsana Nachiappan, M.P.held at New Delhi on 28-01-2009, grievances of bank retirees were focusedby the Office Bearers of AIBRF. AIBRF pursued the matter further with IBAand it was agreed by IBA to initiate steps for setting up Grievances RedressalCell at the apex level in each bank.

You may remember that in the Foundation Conference of our Federationheld at Chennai in December 2009, a resolution was passed unanimously forsetting up Grievance Redressal Cell at the apex level to redress the grievancesof the retired employees in our Bank. Thereafter, we had been taking strenuousefforts continuously by way of follow-up letters and several personal visits toHead Office, Bengaluru. During May 2010, we had actively pursued the issueof setting up of Grievances Redressal Cell with our Bank.

We are happy to inform you that on 07-12-2010, our Bank constitutedGrievances Redressal Cell headed by the General Manager (Personnel Wing)

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and consisting of Deputy General Manager/Assistant General Manager fromPersonnel Wing and an Overseeing Executive of terminal benefits. IndustrialRelations Section, Personnel Wing is the nodal point, which would arrange tohold the meetings once in 6 months.

Inaugural Meeting of Retired Employees’ Grievance Redressal Cell was held at10.00 a.m. in Main Conference Hall, Mezzanine Floor in Head Office Buildingon 7th December 2010. Apart from Sarva Shri K.L.Jagdish Pai, ExecutiveDirector and A.K.Nahar, General Manager, other Executives and Senior Officialsfrom the I.R.Section, P.M.Section, Pension Fund, SPF & Gratuity Section alsoparticipated. Shri V.K.M.Varma & the General Secretary from our Federationand Shri K.B.Ballur from the Retired Officers’ Association represented retiredemployees of our bank.

In the inaugural address, while welcoming the representatives of the retirees,Shri K.L.Jagdish Pai and Shri A.K.Nahar stated that they shared the concernsarticulated by the associations of retirees in their agenda items as follows:

1. Evolving modalities and procedure for handling of grievances of theretired employees of the bank and redressal thereof;

2. Evolving Hospitalisation Scheme for the welfare of the retirees of ourbank;

3. Expediting payment of pension arrears to the new pension optees in2010;

4. Paying Medical Aid of Rs.1500/- to all retirees regardless of mode ofexit from the bank’s service;

5. Fixing correct Basic Pension by taking into account temporary Special/Officiating Pay paid to the employees during the last 10 months oftheir service;

6. Expediting issuance of Pension Payment Order/Revised PensionPayment Order/Arrears Working Sheet – Wage Revision & Pension/Id. Card to the retirees;

7. Providing adequate representation of our Federation in GrievanceRedressal Cell etc.

In the Cell Meeting, we have pointed out the inadequacies in the functioningof the Pension Fund such as delayed issuance of Pension Payment Order/Revised Pension Payment Order/Arrears Working Sheet – Wage Revision &Pension/Id. Card to the retirees etc. The representatives of the Bank statedthat the dimension and the magnitude of work involved in handling more

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than 4400 cases of new pension optees were enormous. However, theyassured to change the atmosphere and look into the matters for resolvingpending grievances, once this massive exercise of payment of pension arrearsto new pension optees in 2010 was over.

During their 2 hours discussions/interactions with us, we observed that bothShri K.L.Jagdish Pai and Shri A.K.Nahar showed their concerns in respect ofissues/grievances of the retired employees of our bank, besides beingpractical.

We gratefully record here the assistive role of serving employees’organisations, especially Canara Bank Employees’ Union for helping the retireesin getting the forum of Grievances Redressal Cell in our Bank.

Getting into the Grievance Redressal Cell may be a small step for retiree, buta great leap for Retirees Community. We are confident that the days aheadwill lead to more retiree-friendly environment in the bank and we will carryforward the positive trends of our discussions in the Cell Meeting for crystallisingmore benefits to the retirees in the days to come. So far, 3 GrievancesRedressal Cell Meetings were held and the Minutes are furnished in theinformation documents.

PREFERENTIAL RATE OF INTEREST ON DEPOSITS

In the backdrop of declining trend of market interest rates having adverseimpact on the earnings of Ex-employees-cum-Senior Citizens, most of whomheavily depend upon interest income from the Bank for sustenance in theirpost-retiral life, we had pursued with the bank in this regard in June 2010 toextend twin benefits Viz: Ex-employees 1% and Senior Citizens ½%. andaccordingly the bank restored the benefit for term deposits of 7 years andabove and thereafter for term deposits of more than 5 years. We are happyto inform that responding to our request favourably, our Bank has issuedadministrative instructions by way of Circular No.218/2010 dated 23-06-2010 to all branches providing additional interest rate of 0.5% for domesticterm deposits for 5 years and above of Ex-employee-cum-Senior Citizensover and above their eligibility for preferential rate of 1% for deposits.

Friends! It is Canara Bank which has made us what we are today. It is thisInstitution which ensures Pension payment to all of us, even beyond our lifetime too. It is in fitness of things that we as retirees shall invest our money inCanara Bank at all time.

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BOOKING OF HOLIDAY HOMES BY RETIREES

Retired employees are eligible to avail of the Holiday Home Facility and canrequest for booking the Holiday Homes one month in advance. However,advance booking for the retired employees was changed to 15 days, whichcaused to the retired employees avoidable anxiety, tension and concern inthe twilight of their years. Further, retirees with restricted means, are notable to secure decent and affordable accommodation in good hotels, especiallyin metro centres for stay along with their family members. This grievancehas been taken up in successive Grievances Cell Redressal Meeting and weare happy to inform that the bank has since agreed to restore booking ofholiday homes 30 days in advance.

CANARA PENSIONER LOAN SCHEME

In the 50th anniversary of Indian Independence a loan scheme for the benefitof senior citizens was introduced in our bank on certain conditions. Thequantum of 10 months gross pension with a maximum of Rs.1,00,000/-was fixed long ago. Bank pensioners are very much affected on account ofhigh inflationary pressures prevailing in the country and in the absence ofhospitalisation scheme in our bank, our retired employees find it very difficultto raise financial resources in their sunset years for meeting urgenthospitalisation expenses and other genuine personal needs in their post-retirallife. Hence we made an appeal to the Bank to consider increasing the loanamount to 15 months gross pension with a maximum of Rs.2,00,000/- Videour Letters 44:2011 dated 31-03-2011 and 85:2011 dated 07-11-2011.We are happy to inform you that our Bank responded positively by accedingto our request for enhancement of amount under Canara Pension Loan toRs.2,00,000/- (Increased from 10 months gross Pension to 15 months,subject to maximum of Rs.2,00,000/-). However, relaxation in the repaymentschedule upto a maximum of 60 months is pending consideration.

IMPLEMENTATION OF 9TH BPS/JOINT NOTE IN RESPECT OF TERMINALBENEFITS TO RETIREES OF OUR BANK

As per the industry level 9th Bipartite Settlement/Joint Note dated 27-04-2010, retired employees of our bank are eligible for the following monetarybenefits:

For those employees who retired after 01-11-2007, arrears of wage revisionfrom 01.11.2007 till the date of retirement was payable.

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For all those employees who were already under pension scheme and whohave retired from the Bank’s service after 1-11-2007, their pension amountand commutation were to be revised based on the 9th BPS Pay. Also, arrearsof wage revision from 1-11-2007 till their date of retirement and arrears onaccount of increase in commutation and monthly pension were payable fromnext date of retirement.

Further, with effect from 1-11-2007, Leave Encashment/Gratuity was payableas per 9th BPS. Hence for those who retired from 1-11-2007, differentialamount was payable by re-working the Leave Encashment/Gratuity alreadypaid. In this regard, we had actively taken up the matter with the managementfor expediting payment of arrears and the bank also responded positively.

CENTRAL COMMITTEE MEETINGS

Since our Foundation Conference, we had 5 CC Meetings at Chennai on20.12.2009, 17.06.2010, 23.04.2012, 30.10.2012 including the one on25.02.2013.

PENDING COURT CASES

We wish to inform you that retired employees of our Bank, in the absence ofany structured negotiation forum at the apex level, were constrained to fileWrit Petitions in the High Court of Kerala/Madras/Karnataka as detailed below:

1. Regarding payment of differential amount of commutation and arrearsof pension to those retired (7th BPS Retirees) from the date ofretirement to 30.04.2005 (CPI 1616 – 1684 Viz: 50% of Pay asPension); (Madras High Court WP No: 5916/2002 A.B.Kasturi Rangan& Others Vs Canara Bank);

2. Regarding parity in Dearness Relief Viz: 100% Neutralisation ofDearness Relief to Pre-2002 retirees. (Madras High Court WPNo:50000**/2006 A.B.Kasturi Rangan & Others Vs Canara Bank);

3. WP No: 50001**/2006 – T.V.Alwan & 6 Others Vs Canara Bank inMadras High Court – 100% D.A. Neutralisation case;

4. WP No: 50002**/2006 – N.Ramamurthy & Others Vs Canara Bankin Madras High Court – 100% D.A. Neutralisation case;

*Hon’ble Madras High Court has since delivered path breaking judgment in favourof 81 petitioners on 14.12.2012 ordering the respondent banks to pay dearnessrelief to Pre-Nov.2002 retirees at 100% DA Neutralisation on the entire basicpension with effect from 01.02.2005 as paid to those who retired on or after01.11.2002. We heartily congratulate those elder bank retirees for theirperseverance in seeking justice.

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5. Extension of another pension option to those who wereCompulsorily Retired (Karnataka High Court WP No:23702 - 23704/2012 A.R.Patil & Others Vs Canara Bank);

6. Writ Petitions filed by Canara Bank Retirees’ Association, Cochinpending in the High Court of Kerala in connection with the claim forrefund of wrongful reduction of commuted portion in the BasicPension from the date of retirement instead of from the actual dateof lump sum payment of commuted value of pension. Also interest@ 6% from the Bank for the delayed payment of commuted valueof pension is claimed;

7. Canara Bank SVRS Retirees’ Welfare Association,Thiruvananthapuram has filed the Writ Petition in the High Court ofKerala (OP No.23205/13.08.2002 praying, among other things,for pension arrears on account of sanction of 50% of Pay as Pension,besides Medical reimbursement scheme to the retirees. r

8. Extension of another Pension Option to Officers retired under VRSas per OSR (Madras High Court WP No: 26916***/2010D.Arunkumar & Others Vs Canara Bank)

Prior to introduction of Pension Scheme in 1995, apart from our Bank,other banks like Syndicate Bank, Central Bank of India, Bank of India, Bankof Baroda etc. provided for Voluntary Retirement Scheme for OfficerEmployees who were PF Optees in accordance with the provisions containedin the Officers’ Service Regulations. Sensing that VRS PF optees, who leftour Bank’s service under the Bank’s own specific scheme, were excludedfrom the purview of one more option for pension, we have on 16-08-2010 itself written to the Bank about unjust denial of pension option tothose officers who retired under VRS as per Officers’ Service Regulations.Also we fervently appealed to the bank to render justice to this segmentof officer employees who exited from the service with prior permission ofthe Bank in terms of a Scheme formulated by the Board of Directors ofour Bank, complying with the stipulated terms and conditions in the Scheme.As there was no positive response from the bank and upon IBA alsoindicating that they were not in favour of extending pension option toOfficers retired under VRS as per OSR, affected Officers were forced to

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seek judicial remedy by filing Writ Petitions in Madras & Karnataka High Courts.We are happy to share with you the information that Hon’ble Karnataka HighCourt delivered judgement on 30-08-2012 in favour of the petitioners inrespect of WP No:23522/2011 M.P.Ramachandra Rao & Others Vs CanaraBank. On account of large number of Court cases pending in various HighCourts and as a sequel to the persistent efforts of our National OrganisationAIBRF, the Govt and IBA permitted another pension option to such VoluntarilyRetired Officers. Accordingly, our Bank opened up another pension option tothose officers who took VRS between 29.09.1995 and 27.04.2010 and familyof such deceased Officers. Last date for reaching the Pension Option/RefundBank’s Contribution to PF is 10.02.2013/12.03.2013 respectively. About600 Officers in our bank are expected to benefit from this option and ourBank has started disbursing pension arrears to such optees from 19th January2013 onwards.

LANDMARK JUDGMENT OF KARNATAKA HIGH COURT ON GRATUITY:

In a landmark judgment, the High Court of Karnataka has ordered that thepayment of Gratuity on revised salary only to officers who have retired post1st November 1994 is arbitrary and illegal, as the retired employees all ofwhom are within the purview of the wage revision form a single class andcannot be fragmented. It is clear that all retiral benefits including pension andgratuity must be given to all employees evenhandedly. In the instant case,the Court has directed to release the arrears of gratuity within four weeks.

IMPLEMENTATION OF ANOTHER PENSION OPTION IN 2010 & OURROLE

Overcoming the initial hurdles in implementation of Pension Settlement dated27-04-2010, which is a product of negotiated settlement after relentlessstruggles of intermittent strike actions by our brethren in the banking industryand sacrifices over a period of more than a decade, our Bank through itsCircular No. 297/2010 dated 21-08-2010 opened up another option forjoining Pension Scheme to Ex-employees and families of those deceasedemployees who ceased to be in the service of the Bank on account ofretirement on superannuation, death or on account of SVRS 2000 and didnot opt for pension earlier.

Moral responsibility was cast on our shoulders to propagate the offer ofanother pension option and also submission of acceptance letter within atime frame by PF retirees. With the opening up of another Pension option byour Bank during the period from 21.08.2010 to 19.10.2010, it was found

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that reaching out the message of pension option to PF optee retirees was anarduous task and we realised that Pension Settlement will become wastedeffort, if we do not put in serious and sincere efforts in disseminating theinformation. With a view to have widest possible reach, we gathered theinformation and address of PF optee retirees from all sources and also tookup with the Bank for Loan Scheme for the benefit of PF optee retirees whohad liquidity problem in joining pension scheme.

In this regard, we called upon our affiliates/functionaries to reach this messageto the retirees concerned by approaching each and every PF optee retiree aspart of service to our senior comrades either directly with the available addressor through the help of their friends. Special attention was also given to thefamily members of the deceased employees since they did not have thecontact with our Bank. With the assistance of CBEU/CBOU in our Bank, weapproached many family members of the deceased employees and renderedall assistance, so that the benefit of pension option was made available tothem.

A software was also developed by one of our well-wishers Com.M.S.Raghuraman, an Andhra Bank retiree at Bengaluru and with the help of thesoft- ware, print-outs/prescribed formats were sent to those PF opteeretirees/ deceased employees/retirees spouses who established contactswith us indicating the pension/commutation amount, arrears of pension andalso the net amount refundable to the bank (representing 156% of Bank’scontribution to PF) to join the pension scheme. Our Federation gratefullyacknowledges the contribution of Com.M.S.Raghuraman in developing thesoftware for our use.

We systematically campaigned and spread the message of golden opportunityfor joining pension scheme amongst PF optee retirees using opportunitiesavailed during organisational meetings arranged in various centres. Compilationof list of PF retirees State-wise was found to be very useful by our StateUnits and quite a good number of such PF retirees contacted them and enrolledas members of our affiliates. Similarly, with the supplemental efforts offunctionaries of CBEU/CBOU across the country, about 4400 Provident FundOptee Retirees/spouses of deceased PF optee retirees/employees in ourbank exercised pension option before cut-off date 19-10-2010. Circle-wisedetails of new pension optees are given in the Information documents.

We welcome the new pension optees to our fold and thus strengthen themainstream of bank retirees’ movement under the banner of AIBRF.

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PAYMENT OF PENSION TO NEW PENSION OPTEES

Though the efforts to reach out all the P.F. Retirees/Family members ofdeceased PF Retirees to advise them of another pension option was astrenuous one, we look back with satisfaction that our Units and we wereable to reach out to as many retirees as possible and provided them printeddetails of calculation and their pension entitlement. In the course of the process,we have come across many doubts and difficulties. By contacting theauthorities in the Circle Office/Pension Fund/Human Resources Wing at differentlevels, we were able to get clarifications and resolved the issues smoothly.

You may be aware that with the opening up of another option for pension in2010, about 4400 persons have joined the pension scheme. The magnitudeand dimension of work involved in handling such cases for disbursement ofpensionary benefits within time frame are indeed onerous. Fixation of pensionand calculation of Gratuity are being done on the strength of work sheetsand processing notes submitted to Pension Fund/SPF & Gratuity Sections bythe respective Circle Offices from where the employees retired.

We are indeed happy that we have been found very useful in coordinating thematters between the new Pension Optees, the Circle Office, I.R.Section andthe Pension Fund in H.O. during this transition period. Around 2200 opteesViz: nearly 50% of the new pension optees were paid pension arrears andeven received their pension for the month of November/December 2010.About 300 cases of PF retirees were pending clarifications at the level ofvarious Circle Offices. Payment of pension arrears to the remaining opteeswas also completed within a few more weeks.

In this regard, we gratefully place on record the yeoman service rendered byour Central Committee Member Sri B.Venkat Rao at Bengaluru for taking upissues relating to terminal benefits with the Bank on priority basis and gettingthings done favourably.

We are happy to share with you that as a token of recognition of ourorganisational endeavours for securing/expediting payment of monetarybenefit as above, considerable number of our retiree members unhesitatinglycontributed financially to our affiliates, who in turn shared the same with ustowards consolidation and further advancement of our Federation. Wethankfully acknowledge their contributions.

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GIFT ON SUPERANNUATION

All employees who retire on superannuation on or after 31.10.2011 shallonly be eligible for memento. Retiring employee is permitted to purchase giftarticle of his choice and will be reimbursed upto Rs.10,000/- by the Bank.

OTHER DEVELOPMENTS

9th Bipartite Wage Revision Settlement was signed along with the PensionSettlement on 27.04.2010 after prolonged negotiation of more than 3 yearsgiving salary increase of about 17.5% to bank employees. We congratulateUFBU and bank employees for this success.

Central Government implemented 6th pay commission recommendations in2009 giving average rise of 30%-35% to Central Government Employees.Central Government past retirees also received handsome increase in thepension and other benefits like introduction of new concept like super seniorcitizen getting upto 100% additional pension, reduction in service length forfull commutation etc.

Financial sector retirees continued to struggle for fair treatment and updationof pension and other improvements on the lines of the 6th pay commission.However major breakthrough is yet to come. LIC management refused toimplement its own Board Decision to grant pension updation to past retireesunder the pretext of not getting government’s clearance. The matter hasreached the Supreme Court and the final decision is awaited which will givedefinite dimension to the issue of pension updation. RBI retirees have beenfighting in Courts against government’s move to withdraw pension updationgranted by Central Board of RBI. These types of bottle-necks being createdby the government/managements are not completely unexpected. But weare confident that ultimate victory will be of that of retirees’ fraternity and weshall receive benefit of pension updation in future.

In another major development, government has decided to offer definedcontributory, but undefined pension scheme instead of safe and secured socialwelfare scheme of defined benefit pension to those bank employees joiningbanks after 1.4.2010. It will have long term effect on retirement benefits andconsequently on retirees’ movement as well.

It is a matter of regret that despite Supreme Court judgement and IBA adviceto banks to implement the order, two Public Sector Banks Viz: AllahabadBank and Vijaya Bank and Associate Banks of State Bank of India have notyet extended the benefit of notional weightage of upto 5 years to their eligible

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retirees. Aggrieved members have already initiated necessary legal action forimplementation of the Supreme Court’s order in their banks. We are with thefighting retirees and extend our support for their actions in this regard. Also,we have to inform that AIBRF has already taken up the matter with theDepartment of Financial Services, Ministry of Finance for an early solution inthis regard.

One more pension option was welcome step and as stated earlier it hasbenefited about 50000 PF optee retirees. But it is a matter of disappointmentthat while issuing guidelines on implementation of another pension option,IBA excluded certain categories of past retirees like VRS optees under Officers’Service Regulations, Compulsorily Retired employees and Resigned/Retiredemployees on medical grounds from the pension option. AIBRF has beencontinuously following up with UFBU and the Department of Financial Servicesto extend the scheme to above referred retirees also. Bank Resignees areagitating for extension of pension option to them. Some of the aggrievedretirees have gone to Court of Law on this issue. We support their actions.

We are happy to share with you that the Hon’ble Karnataka High Court delivereda path breaking judgement on 30-08-2012 in respect of Writ Petitions filedby the affected bank retirees with regard to denial of pension option to them.The Hon’ble Judge clearly held that bank retirees such as VRS-OSR andResigned employees are entitled for pension option extended in 2010,regardless of nomenclature of their exit from the bank’s service.

Division Bench of Madras High Court in the matter of Bank of Baroda retireeshave ordered payment of arrears in respect of basic pension, DA thereon andcommutation from date of retirement till 30th April 2005 to those retiredunder 7th Bipartite Settlement to correct the anomaly between 1616 and1684 points of consumer price index. Immediately after the decision, at AIBRFlevel, the matter was pursued with banking department for its implementationand despite positive indication initially, Bank of Baroda management filed SpecialLeave Petition subsequently in the Supreme Court against the order of theMadras High Court and the matter is pending for final disposal.

Many of our comrades/State level Units have been fighting legal cases inrespect of 100% DA neutralisation, pension updation in different courts. Inview of non- existence of direct negotiation platform for retirees, grossinjustice done to retirees and very rigid and hostile attitude of IBA/Government,the legal actions taken/initiated by the aggrieved bank retirees areunderstandable. On the issue of the legal actions by retirees, we have beenexplaning to IBA/GOVT/UFBU that retirees are forced to approach the court

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because of IBA denying right of negotiation on their issues. We believe andrightly so, that once proper and effective negotiation mechanism is evolvedfor retirees, there will be considerable drop in legal cases. History showsthat bank employees learnt by experience that negotiated settlement isbetter than legal recourse for resolving contentious issues.

Adverse decision of Supreme Court in the matter of Sri Pradeep Kumar caseon the issue of pension updation was disappointment for retirees. In facthaving known the mind of the court on the issue of pension updation inbanking industry, Sri Pradeep Kumar did not press the matter in the courtfor final disposal. Our demand for Pension Updation remains alive and relevantat the organisational level.

Appointment of Khandelwal Committee by the government to look intocertain aspects like outsourcing, performance based incentives to employees,higher voting rights to share holders, review of welfare scheme for employeesand retirees etc was another significant development. The committee hassince submitted the report and many of its recommendations are controversialand opposed by UFBU coupled with launching of agitational programmes,strike call etc. We fully support UFBU action with active participation of bankretirees in such agitational programmes.

AGITATIONAL PROGRAMMES

As decided in the Central Committee Meeting held at Lucknow on 27th &28th July 2010, AIBRF launched agitational programmes in a phased mannerto draw attention of concerned authorities on long pending demands ofbank retirees.

1st Phase – Submission of Memorandum:

Under the 1st phase, our Federation besides other AIBRF Office Bearers,General Secretaries of State Units submitted Memorandum to the followingauthorities. Few star questions were raised in Lok Sabha on the basis of theMemorandum. In this way, implementation of 1st phase, by and large, hadgone well and achieved its objective successfully.

Sl. No. Name of Authorities No.01 Shri Pranab Mukerjee, Finance Minister 0102 Other Central Ministers 0603 Members of Parliament ( Lok Sabha & Rajya Sabha) 18

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04 Chairman of Banks 1205 IBA Authorities 0306 UFBU Leaders 06

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2nd Phase – Sending Post Cards to FM:

Programme of sending handwritten and signed post cards to the FinanceMinister containing the following message and drawing his attention on pendingdemands of retirees was observed between 15-06-2011 and 30-06-2011:

“We, senior citizen and bank retirees demand immediateresolution of long pending demands of pension updation,improvement on family pension, improvement in Ex-gratiaamount to Pre-1986 retirees, 100% DA neutralisation to Pre-2002 retirees, uniform medical scheme etc. We humbly requestyou to ask IBA & Banking Division Officials to discuss the demandswith representatives of retirees for immediate solution.”

OUR FUTURE STRATEGY

Despite securing creditable achievements, the fact remains that our importantdemands are still unresolved. Pension updation, 100% DA neutralisation,Improvement in Family Pension, Uniform Hospitalisation Scheme are our coreissues. An Organization of AIBRF stature can not remain silent till they arefully resolved. Therefore, AIBRF finalised the following at its Central CommitteeMeeting held at Pune on December 19 – 20, 2012:

a. To gear up our Organisational machinery at all levels to launch agitationalprogrammes from time to time as and when required depending upon thedevelopments taking place during the industry level wage revision negotiations.The participants suggested various action points like writing post cards, holdingdemonstrations, dharnas, rallies, approaching former CMDs to use theirinfluence, submission of memorandum to MPs etc.

b. It was also decided to form Sub-Committee consisting of the followingOffice Bearers (a) President (b) General Secretary and (c) 4 Deputy GeneralSecretaries who would discuss/review and take appropriate decisions in thematter.

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STATE FEDERATIONS/COMMITTEES OF AIBRF

We are glad to inform you that recognising the initiative and the contributionto the general movement of bank retirees, the following State Federations/Committees entrusted responsibilities to our Office Bearers/Central CommitteeMembers as below:

1. All Kerala Bank Retirees’ Federation: Sri P.R.R.S.Iyer, SecretarySri N.S.K.Nair, Asst. SecretarySri A.P.RaveendranathOrgn. SecySri V.K.M.Varma, C.C. MemberSri M.Venugopal, C.C. MemberSri Maraikkar Pillai, C.C. MemberSri K.Shanmugam,Dt. Secy.CalicutSri C.K.Rajeevan, Dt. Secy.,Thiruvananthapuram.Sri Koshi Rajappan Dt. Secy,Allepey

2. All Bank Retirees’ Federation,Maharashtra: Sri O.M.Mahindrakar,Joint SecretarySri B.S.A.Rao, C C Member

3. Tamilnadu Bank Retirees’ Federation: Sri S.V.Srinivasan,Dy.Genl. Secy.Sri A.B.Kasturirangan,Vice PresidentSri C.R.Venkateswaran, Org. Secy.Sri S.Agoram, Org. Secy.Sri R.Sudalaimuthu, Org. Secy.Sri M.V.Ramani, Org. Secy.Sri Ponnambalam Pillai,CC MemberSri.A.Kaseem, CC MemberSri.K.R.Manohar, CC Member

4. Odisha State Committee - AIBRF: Sri J.C.Pattanaik, Vice PresidentSri Harihara Pani,Committee Member

5. Karnataka State Committee – AIBRF: Sri B.Devadas Rao, PresidentSri B.C.C.Aradhya, Secretary

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6. Belgaum District Bank Retirees’ Association: Sri R.T.Bidi, Exec. Committee Member

TRIBUTE TO SRI AMMEMBAL SUBBA RAO PAI

Founder of Canara Bank Sri Ammembal Subba Rao Pai was born at Mulki on19.11.1852 to a leading Advocate Sri Upendra Pai. He was a winner of goldmedal in the Madras University in his Law Degree and earned recognition inlegal circles in Mangalore as an authority on civil law. As an uncompromisingidealist and a humanist to the core, he emerged as a crusader for humanrights, a social reformer and a philanthropist.

Having witnessed the havoc wrought by the twin evils of illiteracy anduntouchability, he was set out to redeem matters. He set up the Canara HighSchool in 1891 at Mangalore. Breaking from the tradition in those times, hestarted Canara Girls’ High School in 1894.

His keen desire to end the exploitation of gullible villagers and townsfolk atthe hands of usurious money lenders, to spread the gospel of education andto remove superstition from the minds of the people propelled him to establishin 1906 the Canara Hindu Permanent Fund Limited, which was re-named asCanara Bank Limited in 1910.

While laying down the objective, late Sri Ammembal Subba Rao Pai visualised“to transform the Institution not only as financial heart of thecommunity, but also the social heart as well by developing a concernfor fellow human being and trying to mitigate sufferings”. This socialobjective still continues to be relevant.

National outlook, a deep sense of bonding with his countrymen with unflinchingcommitment to social causes endeared him to one and all. He passed awayon 25th July 1909, leaving behind a rich legacy. Today, our bank has becomea huge banyan tree that shelters hundreds of thousands of employees andhas brought light into the lives of millions of Indians. Generations to come willremember with gratitude this sage who made a world of difference in theirlives, seeking little for himself. His footprints, embedded in the sands of time,will forever chart the bank’s journey further. His memory will be the light thatwill ever shine and lead our way to greater progress of the Institution.

All men are mortal, but those who live in the hearts and minds of those whofollow them are blessed with an aura of immortality. Such a man was SriAmmembal Subba Rao Pai, our illustrious Founder, whose memory we willrevere for all times to come.

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CANARA BANK - OUR BELOVED INSTITUTION

Though retired, we would like to continue our relationship with the bank. Theumbilical chord that binds our bondage with the bank is inseparable. We takelegitimate pride for being the retired employees of this mighty bank. Withpardonable pride, we can claim that we contributed our best to the growthand prosperity of the bank in the past. Every Retiree is anxious to see thebank fares better. Besides the serving employees giving their best outputand good customer service across the counters, many of our memberstoo are contributing in various ways for the development of our belovedbank. Still it causes concern that we are not market’s favourite to theextent we desire. As a responsible organisation, we urge upon each andevery one of you to put in your best efforts and help the branches in takingthe bank to still greater heights by increasing CASA and assisting the bankin recovering NPAs etc.

We are happy to share with you highlights of the Bank’s performance forthe quarter ending 31.12.2012:

Global Business at 5.42 lakh croreNet Profit for Q3 at 710 croreMajor Highlights – Q3FY13

Global business rose to 542205 crore. Global Deposits rose to 323963 crore. Advances (net) reached 218242 crore. Net profit for the Q3FY13 at 710 crore and 2147 crore for nine

months upto December 2012 Return on Assets at 0.82 % and NIM at 2.36%. Capital Adequacy Ratio at 12.64%. Tier I Capital Ratio at 9.76%. Cash Recovery at 998 crore for December 2012 Quarter and 2477

crore for nine months upto December 2012. 112 Branches and 616 ATMs added y.o.y.

Income and Expenses for the Q3 FY13

The Bank’s total income for Q3FY13 increased to 9390 crore with ay-o-y increase of 9.5% including 5958 crore income from loans/advances.

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Non-interest income of the Bank rose to 846 crore, with a y-o-yincrease of 11%.

While total expenditure increased to 7874 crore (12.3%),operating expenses was at 1317 crore (17.5%).

Net interest income for the quarter was 1988 crore and NetInterest Margin (NIM) sustained at 2.36% as at December 2012.

Goals for FY13 Thrust on Retail Business - CASA, retail deposits, retail loans, MSME,

agriculture and fee income. Technology and business process reengineering. Plans to open branches/ offices in potential centres throughout the

country and at foreign centres at Johannesburg (South Africa), Qatar,Frankfurt (Germany) and New York (USA), a Subsidiary in Sao Paulo(Brazil) and a Representative Office at Abuja (Nigeria).

PAYING BACK TO SOCIETY – RENDERING COMMUNITY SERVICE

Human life is more of receiving from the society than contributing to its wellbeing. We, the retired employees had in the past received much more andcontributed much less. Looking at the world today, we see so much poverty,disease and illiteracy that disturb us. For instance, when we look at a familyliving on the streets, braving the biting cold and scorching sun with thehollowness in their empty stomachs, we feel pain, anger and frustration.However, all these feelings are of no use, unless we choose to channelizethem into a potent force that can bring about a change in society. We canaccomplish this only if we are committed to do our bit.

The role of a worker - officer or workman - does not confine within hisworkplace to improve his living standard. He has to look around the societyto wipe out ‘every tear from every eye’ as Gandhiji envisaged and help thehapless children of unorganized sector workers to get educated for earning abetter living. That is the real satisfaction of the Bankmen that they haveplayed their due role to their people in the society to make India a happierplace to live in.

Our inner eyes get opened to the suffering millions at the mercy of charity. Ithas been our considered view that we should strive to pay back to thesociety and do our bit. Such acts of kindness will not only keep us in goodstead, but also provide us the satisfaction that we could collectively dosomething to mitigate their hardship and thus exhibit our resolve in taking

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care of less fortunate. We, as Senior Citizens, have no doubt given a lot tothe Society in our prime time but also have taken a lot more from Society. Itis now time to give back as much as possible.

With this understanding, our Affiliates have been undertaking good number ofprogrammes for the benefit of poor students, mentally retarded children,elderly persons, orphanages, old age homes, destitute women, charitablehospitals and other vulnerable/marginalised sections of the society in manycentres across the country, thus transparently displaying their care and concerntowards social commitment.

It is heart-warming to note that by undertaking such programmes, we havebeen able to provide some solace to the suffering people in various strata ofthe society and we are happy to note that many programmes were undertakenby our affiliates during the last 3 years.

We understand that what we have done in this regard is not enough. Wehave the wherewithal to contribute more. With large heartedness, our affiliatesshall undertake more such programmes in the days to come with a sense ofsocial commitment.

AIBOA TRUST FOR UNORGANISED SECTOR RELIEF

We come into this world and leave it with empty hands. When we strive forthe welfare of unorganised people of our country, our welfare also will betaken care of. Therefore, we have to make conscious and strenuous effortsto make purposeful contribution for the welfare of the society around tobalance both sides of our balance sheet.

AIBOA Trust for Unorganised Sector Relief was formed to act as catalyst tobring social transformation. It is heart-warming to inform you all that CanaraBank Retirees’ Forum, Chennai has donated to AIBOA Trust for UnorganisedSector Relief Rs.1,00,000/- apart from spot collection of donation to theextent of Rs.30,000/- from the retiree members present in the meeting heldat Chennai on 26-08-2012.

BODY DONATION

Sri V.Krishnamoorthy, Salem, Vice President of Tamilnadu Bank Employees’Federation and a mass Leader of working people and his spouse Smt.VasanthiKrishnamoorthy expressed in their will a few years ago to donate their bodyafter demise to Govt. Hospital, Salem. Inspired by the above noble acts, itwas in the thinking of Sarva Shri N.Chandrasekaran, S.Sivakumar andS.N.Srinivasan for considerable time to follow suit.

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Guided by an enlightened view that anatomical gift is a gift of life and could bethe ultimate fulfilment of one’s own life so as to be useful to the living evenafter death and overcoming the religious and cultural attitudes about BodyDonation, Shriyuth N.Chandrasekaran, S.Sivakumar & S.N.Srinivasan not onlycommitted to donate their body, but also convinced their spouses and motheralso for such a noble act.

As retired employees of our Bank, Sarva Shri V.Krishnamoorthy,N.Chandrasekaran, S.Sivakumar and S.N.Srinivasan made our affiliate CanaraBank Retirees’ Forum, Chennai proud.

May their Tribe increase!

PRE-1986 RETIREES/SURVIVING SPOUSES

We are happy to inform that our affiliate Canara Bank Retirees’ Forum, Chennaidecided to extend financial assistance of Rs.1,000/- to all those Pre-1986Retirees/Surviving Spouses in Tamil Nadu. We deeply appreciate their gesture.

CHALLENGES BEFORE US

Since formation of our Federation, we are of the view that there shouldbe only one Unit in each State, notwithstanding that there are morethan one unit in some States like Kerala and Tamilnadu on account ofhistorical reasons. Now, Units affiliated to AICBRF are not affiliated toAIBRF directly. Only through our Federation, their affiliation to AIBRFstands. As such, it would be ideal not to have more than one Unit inany State. Multiplicity would not be in our interest. Hence, Unitsconcerned should ponder over such organisational aspects seriouslyand do the needful in this regard.

For effective functioning of any Organisation, financial strength isnecessary. In this regard, we need to find out ways and means forgenerating resources internally so that we become stronger financiallytoo.

Even though we m aintain cordial relations with the Bank, yet, in thematter of getting some more benefits/concessions available in otherbanks, the approach of our Bank needs more positive orientation.

Total unification of all retirees in our Bank irrespective of caste, creed,colour, region, religion and past designation in the bank is our goal.

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Though it may appear to be arduous, yet, we should pursue our goalwith missionary zeal.

For achieving our long pending demands, our relationship with the UFBUand serving employees in our Bank needs to be improved further. Asregards frictions at times at the branch level, we retirees should notmiss functional constraint under CBS environment and both the servingemployees and the retirees should have mutual appreciation of eachothers difficulties.

In the matter of regular communication to our members, we find thatour Units need to send their circulars promptly. Please advise themembers to get an E-Mail Id created. It does not cost anything andhardly takes an hour to learn to operate computer and open/send anE-mail. Also, retirees can seek assistance of their grandchildren/friendsor may go to a nearby Cyber Cafe to operate it. It will enable us toserve them better and faster so as to keep them updated, apart fromreducing postage/courier expenses.

TASKS AHEAD

Our Organisation All India Canara Bank Retirees’ Federation is one of the liveorganisations in the country serving the cause of Pensioners/Retirees in ourBank. We have a long way to go. Objectives decide the course of themovement. They set the momentum. With clear vision of our goals, we canmove forward confidently. Let us consider the following as our future tasks:

To continue to remain as one of the vibrant organisations of bankretirees in the country in safeguarding and promoting the welfare ofthe retirees in the Bank;

To enrol by bringing more and more retirees to our fold and thusmake it as the only Organisation of all cadre retirees in the Bank byour conduct and contribution;

To strengthen the State Units, as they are the pillars on whichAICBRF stands;

To establish Unit in the States where there is no Unit; To undertake more and more Social Welfare Programmes across

the country to show our concern and make our contribution to thesociety;

Last but not the least, to strengthen the general movement ofbank retirees all over the country under the banner of AIBRF.

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ACKNOWLEDGEMENTS

We are glad to inform that several members have given donations for variousreasons such as appreciation of good work done by our Federation, receiptof substantial monetary benefits on account of our intervention, extensionof notional weightage, getting one more option for pension 1sttriennianlconference donation etc. In this context it is necessary to make a specialmention of the following donors:

Shri.C.R.Vaitheeswaran, Chennai Rs.10,000/-Shri.V.M.Kannappan, Chennai Rs.10,000/-Shri.S.Aramathi, Mayiladuthurai Rs.10,000/-Shri.P.R.Rajagopal, Chennai Rs.10,000/-Shri.Murali, Sellappampatti Rs.10,000/-Shri. G.Subramanian, Chennai Rs.10,000/-Shri. R.Ravishankar, Chennai Rs.10,000/-

I express my sincere thanks to all our member-donors, Retired Executives/Officers and our well wishers.

On behalf of the Members of the Central Committee and on my behalf, Irecord our gratefulness to the veteran leaders of our National Organisation,All India Bank Retirees’ Federation for their valuable guidance extended tous. I will be failing in my duty, if I do not particularly thank SarvashriS.R.Kulkarni, Chairman, S.C.Jain, General Secretary & Dr.B.Ramji, VicePresident of AIBRF who were always available to us for their guidance duringthis period. I value them very much.

It is natural on my part to thank profusely the leaders of UFBU, moreparticularly, Com.C.H.Venkatachalam, General Secretary AIBEA, Com.R.J.Sridharan, Chairman AIBOA, Com.S.Nagarajan, General Secretary AIBOAfor their help.

I gratefully acknowledge the guidance and support received from SriA.K.Bansal, Chairman and Sri V.K.M.Varma, President in conducting the affairsof our Federation.

I heartily thank the Members of the Central Committee for having developedthe team work, collective wisdom and shared organisational responsibilitiesto meet the onerous tasks of our Federation in its ups and downs, successesand failures in the course of the organisational journey. Right from leader ofthe team the Chairman, every one of the members of the Central Committeeextended their unstinted support for fulfillment of organisational tasks in apurposeful manner. To these members of the Central Committee, I on yourbehalf and on my own behalf express our warm regards and greetings.

To the ever alert organisational functionaries across the country, who haveadmirably responded well to carry out the tasks entrusted to them so farand thus willingly shared the burden, I on my behalf and on behalf of theCentral Committee record here our deep appreciation.

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Also, I am beholden to the Leaders of movement of twin banners in our BankCanara Bank Employees’ Union and Canara Bank Officers’ Union, moreparticularly, Com.D.Luke Baskaran, President CBEU and Com.D.D.Rustagi,General Secretary CBEU, Com.P.R. Rajagopal, President CBOU,Com.M.A.Srinivasan, Deputy General Secretary AIBOA & General SecretaryCBOU and Com.K.P.Prasad Former General Secretary CBOU who have helpedand supported us a lot at crucial junctures unhesitatingly in shaping the destinyof retired employees in our bank during the period.

Words are insufficient to thank our members, who have endured andencouraged me in all the activities of our beloved Federation. To all suchcherished compatriots, fellow fighters, ever conscious, ever loyal and everdedicated members of our Organisation, we the members of the CentralCommittee would ever remain indebted. We extend to you all our warmestgreetings and offer our salutes.

Last, but not the least, I congratulate the Pension Fund of the Bank for thesplendid job done and place on record our sincere appreciation for thestrenuous work while dealing with the calculation/payment of arrears to newpension optees/family pensioners during the year 2010/2012, when anotheroption for pension was opened up to those who missed/were denied thesame earlier. Also, I thankfully acknowledge the Retiree-centric approach ofthe Pension Fund while handling the problems/grievances of pensioners duringthe last 3 years.

CONCLUDING THOUGHTS

Today, when I am about to complete the presentation of the General Secretary’sReport, I draw certain amount of satisfaction and I am sure you all will joinwith me in sharing my happiness that AICBRF along with our NationalOrganisation AIBRF could ensure substantial monetary benefits to our bankretirees during the period under review by way of increase in basic pension,payment of arrears due to extension of maximum of 5 years notional benefitto SVRS retirees or monetary benefit because of new pension option in 2010/2012.

Membership is the basic and fundamental strength of any organization. I amhappy to inform that we have been able to make significant progress in thearea of membership drive by covering new geographical areas and broughtmore and more retirees to our fold. At the time of our Foundation Conferenceat Chennai in 2009, we were just above 2000. Today, when we congregateat Bengaluru, our strength has significantly increased to more than 5000.This has been made possible because of continuous efforts made by ouraffiliates and favorable atmosphere created by the availability of anotherpension option. More importantly, AICBRF has become more vibrant andactive. We are aware that whatever social status and the benefits we enjoytoday are the byproduct of sustained struggles and onward march of ourNational Organisation AIBRF and our productive alliance with our serving

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colleagues in our bank. Our predecessors Late Romesh Chander Chakraborty& Sri T.M.Mathews built the edifice of AIBRF by their hard work, sufferings andsacrifices. With inconveniences here and there, today, we have raisedsuperstructure on it.

Friends! Let us not live in passive acceptance of fate and indulge in depressingthoughts. Instead, let us be creative to know our genuine requirements andtry to settle things through moral strength and organisational approach. Thisis the time for you to change your mindset to face the old age. Please supportand participate in Organisational activities in bringing solace to retirees andhelp us to serve you better.

We are close to achievements that knock at our doors and they are likely tomaterialise in the near future, provided we continue to work with more zeal,commitment and conviction. These will be possible through collective effortsof each and every one of us. Every step we take, every decision we implementand every action of ours in upholding the integrity and unity of this Organisationwill add more glorious chapters to the history of our Organisation. In thistask of further building the Organisation, let us plan and move with dedicationand determination, love and loyalty for espousing the cause of bank retirees.We hope all of us walk together and be a part of this great journey!

Retirees’ Movement in Canara Bank is gaining momentum day by day and isunstoppable. Also, we have earned appreciation from all quarters. Recentlyretired, energetic and dedicated Office Bearers of serving Unions/Associations/employees are now coming forward to shoulder the responsibility of theFederation in more number of States. The number of pensioners is growingfast and time may come when the number of pensioners may exceed theserving staff. In course of time, majority of common problems are also likelyto be solved.

Friends! I am confident about what are in store for us in the coming days.Future is bound to be brighter than the past. I am hopeful that we havebetter years to come and that our goal of making the best of the rest of ourlives be made a reality.

On behalf of the Central Committee, I have placed before you in brief theefforts made by the Federation and its achievements during the period underreview. Our affiliates/members would appreciate that in spite of severalconstraints, our Federation could make satisfactory progress during the period.There may be some areas where stronger intervention of the Federation isrequired and with the increased strength of the Federation in the comingyears, we will be able to meet emerging challenges more effectively.

There have been moments that I would always like to cherish of my associationwith you during organisational visits. There have been events such asFoundation Conference of various State Units, which we have shaped and

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made us proud. I can justifiably say with pride, but in all humility, that wehave been working towards improving post-retiral living conditions andsafeguarding the interests of the retirees’ fraternity, besides voicing our concernfor the cause of retired employees of our bank all over the country.

Delegates! Please utilise this opportunity to facilitate meaningful deliberationsso as to ultimately enable the 1st Triennial Conference to take historic decisionsand to increase the level of involvement, conviction, love and loyalty of theretired employees of our bank so that the great edifice of ours is rememberedin the annals of our movement for many more years to come. Let thisConference be a great milestone in our onward march.

Upholding the flag of All India Bank Retirees’ Federation, let us march forwardmore cohesively and espouse the cause of the bank retirees’ fraternity ingeneral and Canara Bank Retirees in particular in the days to come.

Let us resolve to march ahead from this 1st Triennial Conference to consolidateour beloved Organisation further and further and move on to the future thatbeckons our beloved All India Canara Bank Retirees’ Federation all the way.

Place: Bengaluru, (S V Srinivasan)Date: 26-02-2013 General Secretary

BANK RETIREES’ UNITY LONG LIVE LONG LIVE ALL INDIA BANK RETIREES’ FEDERATION LONG LIVE LONG LIVE ALL INDIA CANARA BANK RETIREES’ FEDERATION LONG LIVE LONG LIVE I TRIENNIAL CONFERENCE ZINDABAD ZINDABAD

Age is a state of Mind. None grows old merely by living a number ofyears. We grow old by deserting our ideals. Years may wrinkle the skin,but to give up enthusiasm wrinkles the soul. We should have the will towin, the desire to succeed, the urge to reach our goals .... These are thekeys that will unlock the door to success.

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AUDITOR’S REPORT

I have examined the attached Statement of affairs of ALL INDIA CANARA BANKRETIREES’ FEDERATION, A.K.Nayak Bhavan, Second Floor, 14, Second LineBeach,Chennai-600001 as at 31.12.2010 and the Income and Expenditure Accountof the Federation for the period ended on that date annexed thereto and report that:

1 I have obtained all the information and explanation which to the best of myknowledge and belief were necessary for the purpose of my examination.

2 The Statement of Affairs, Income and Expenditure and Receipts and PaymentsAccount dealt with by this report are in agreement with the books of accountsmaintained by the Federation.

A In the case of Statement of affairs, the statement of assets andliabilities of the Federation as on 31st Dec 2010

B In the case of Income and Expenditure Account, the income overexpenditure for the year ended 31st Dec 2010.

C In the case of Receipts and Payments Account, the receipts andpayments for the year ended 31st Dec 2010

Chennai-60001430.01.2013

T.K.LAKSHMIPATHY B.A., F.C.A.,CHARTERED ACCOUNTANT

Old No. 256, New No.102Flat No.5, 2nd Floor,

Royapttah High Road,Chennai - 600 014.

Ph : 044 - 28132745

48

ALL INDIA CANARA BANK RETIREES’ FEDERATION(Regd)A.K.Nayak Bhavan,Second floor, 14, Second Line Beach, Chennai-600001.

INCOME & EXPENDITURE ACCOUNT FOR THE PERIOD 1.1.2010 TO 31.12.2010

Rs. Ps INCOME Rs.Ps

Affilition fees paid to AIBRF Affliliation Fees Recd from UnitsAnnual Fees paid to AIBRF Direct subscription recdPostage/courier/tele.exp Interest on Bank depositsTravelling Exp Donation receivedPrinting and stationery Annual Fees Recd.from UnitsMeeting expConveyance expOffice expDepreciation on computerAudit FeesExcess of Income over ExpenditureTotal

1000.0021870.0017411.6029496.5013717.90

9454.004163.842876.50

16425.003500.00

39845.66

4000.00820.00

1451.0076000.0077490.00

159761.00 159761.00STATEMENT OF AFFAIRS AS ON 31.12.2010

Fixed Assets - ComputerExcess of Income over Expenditure Addition on 30.3.2010Outstanding Expenses: Less: Depreciation @60% Audit Fees Payable for 9 months

WDV as on 31.12.2010Current Assets -Suspencea/c (Since adjusted)Cash & Bank BalancesOn handWith CanaraBank, T.C.St Br

TOTAL TOTAL

Rs.Ps Rs PsASSETSLIABILITIES

39845.66

3500.00

43345.66

36500.00

16425.0020075.00

19500.00

241.603529.06

43345.66

Total

Chennai - 1430.1.2013As per Report of even date

(A.B.KASTURIRANGAN)TREASURER

(S.V.SRINIVASAN)GENERAL SECRATERY

EXPENDITURE

49

AUDITOR’S REPORT

I have examined the attached Statement of affairs of ALL INDIA CANARABANK RETIREES’ FEDERATION, A.K.Nayak Bhavan, Second Floor, 14,Second Line Beach,Chennai-600001 as at 31.12.2011 and the Incomeand Expenditure Account of the Federation for the period ended onthat date annexed thereto and report that:

1 I have obtained all the information and explanation which to thebest my knowledge and belief were necessary for the purpose ofmy examination.

2 The Statement of Affairs, Income and Expenditure and Receiptsand Payments Account dealt with by this report are in agreementwith the books of accounts maintained by the Federation.

A In the case of Statement of affairs, the statement of assets andliabilities of the Federation as on 31st Dec 2011.

B In the case of Income and Expenditure Account, the income overexpenditure for the year ended 31st Dec 2011.

C In the case of Receipts and Payments Account, the receipts andpayments for the year ended 31st Dec 2011

Chennai-60001430.01.2013

T.K.LAKSHMIPATHY B.A., F.C.A.,CHARTERED ACCOUNTANT

Old No. 256, New No.102Flat No.5, 2nd Floor,

Royapttah High Road,Chennai - 600 014.

Ph : 044 - 28132745

50

ALL INDIA CANARA BANK RETIREES’ FEDERATION(Regd)A.K.Nayak Bhavan,Second floor, 14, Second Line Beach, Chennai-600001.

INCOME & EXPENDITURE ACCOUNT FOR THE PERIOD 1.1.2011 TO 31.12.2011

Rs. Ps INCOME Rs.PsAnnual fees paid to AIBRF Affliliation Fees Recd from UnitsRegistration Exp Direct subscriptionPostage/courier/telephoneexp Interest on Bank depositsTravelling Exp Donation receivedPrinting and stationery Annual Fees Recd. from UnitsMeeting expConveyance expOffice expDepreciation on computerElectricity ChargesAudit feesDeepavali Bakshees PaidExcess of Income over ExpenditureTotal 319275.00 319275.00

1500.00410.00

7400.00205000.00104965.00

29760.0013555.0030950.5717915.00

9808.307796.00

15412.598784.37

12045.002827.503500.002500.00

164420.67Total

STATEMENT OF AFFAIRS AS ON 31.12.2011 Rs.Ps

Fixed Assets - ComputerExcess of Income over Expend WDV as on 01.01.2011Balance as on 1.1.2011 Less: Depreciation @60%Add:Excess of Income over Exp for WDV as on 31.12.2011 the year Total

Current Assets Outstanding Expenses Term Deposits with Audit fees payable Canara Bank

Cash & Bank BalancesOn handWith CanaraBank, T.C.St Br

Chennai - 1430.1.2013As per Report of even date

(A.B.KASTURIRANGAN)TREASURER

(S.V.SRINIVASAN)GENERAL SECRATERY

Rs Ps

39845.66

164420.67204266.33

7000.00

211266.33

20075.0012045.008030.00

200000.00

241.602994.73

211266.33TOTAL TOTAL

EXPENDITURE

LIABILITIES ASSETS

51

AUDITOR’S REPORT

I have examined the attached Statement of affairs of ALL INDIA CANARA BANKRETIREES’ FEDERATION, A.K.Nayak Bhavan, Second Floor, 14, Second LineBeach,Chennai-600001 as at 31.12.2012 and the Income and ExpenditureAccount of the Federation for the period ended on that date annexed thereto andreport that:

1. I have obtained all the information and explanation which to the best of myknowledge and belief were necessary for the purpose of my examination.

2. The Statement of Affairs, Income and Expenditure and Receipts andPayments Account dealt with by this report are in agreement with the booksof accounts maintained by the Federation.

A. In the case of Statement of affairs, the statement of assets and liabilities ofthe Federation as on 31st Dec 2012.

B. In the case of Income and Expenditure Account, the income overexpenditure for the year ended 31st Dec 2012.

C. In the case of Receipts and Payments Account, the receipts and paymentsfor the year ended 31st Dec 2012.

Chennai-60001430.01.2013

T.K.LAKSHMIPATHY B.A., F.C.A.,CHARTERED ACCOUNTANT

Old No. 256, New No.102Flat No.5, 2nd Floor,

Royapttah High Road,Chennai - 600 014.

Ph : 044 - 28132745

52

ALL INDIA CANARA BANK RETIREES’ FEDERATION(Regd)A.K.Nayak Bhavan,Second floor, 14, Second Line Beach, Chennai-600001.

INCOME & EXPENDITURE ACCOUNT FOR THE PERIOD 1.1.2012 TO 31.12.2012

Rs. Ps Rs .Ps

Annual fees paid to AIBRF Afflil. Fees Recd from UnitsDelegates fees to AIBRF Direct subscriptionPostage/courier/tele.exp Interest on Bank depositsTravelling Exp Donation receivedPrinting and stationery Annual Fees Recd.from UnitsMeeting expConveyance expOffice expDepreciation on computerElectricity ChargesDeepavali Bakshees PaidAudit feesExcess of Income over ExpenditureTotal Total 314266.00

1000.00410.00

29651.00142750.00140455.00

40130.006000.00

27912.6022758.0042431.9533842.0019740.1814994.14

4818.002662.004500.003500.00

90977.13314266.00

STATEMENT OF AFFAIRS AS ON 31.12.2012 Rs.Ps ASSETS Rs Ps

Fixed Assets -ComputerExcess of Income over Expenditure WDV as on 01.01.2012Balance as on 1.1.2012 204,266.33 Less: Depreciation @60%Add:Excess of Income over Exp for WDV as on 31.12.2012 the year 90,977.13 Current AssetsTotal 295,243.46 Rent Advance for ConferOutstanding Expences&Provisons rence hallAudit fees payable 10,500.00 Term Deposits withElectricity exp payable 400.00 Canara BankExcess Subscription 50.00 Cash & Bank Balances

On hand With CanaraBank,T.C.St Br

TOTAL 306,193.46 TOTAL

Chennai - 1430.1.2013As per Report of even date

8,030.004,818.003,212.00

40,000.00

200,000.00

673.6062,307.86

306,193.46

(A.B.KASTURIRANGAN)TREASURER

(S.V.SRINIVASAN)GENERAL SECRATERY

INCOMEEXPENDITURE

LIABILITIES

53

Amendment to Rules & Bye-Laws - Notice to: All Members of our AffiliatesIn terms of Para 10 (a) (3 ) of the Rules & Bye-laws of the AICBRF, Notice ishereby given for amending the following provision/s in the General Body Meeting atBengaluru on 26.02.2013:

RULES & BYE-LAWS EXISTING PROPOSED

PLACE:CHENNAI, (S.V.SRINIVASAN)DATE: JANUARY 16, 2013 GENERAL SECRATERY

ALL INDIA CANARA BANK RETIREES’ FEDERATION (Regd.)(Affiliated to All India Bank Retirees’ Federation)

“A.K.Nayak Bhavan”, 2nd Floor14, Second Line Beach, Chennai – 600 001

Amendment to Rules & Bye - Laws - Notice to All Members of our affiliates

Fees: Para 5 (b)

Management ofFederation: 9 (a)Management of Federation: 9 (a)Management ofFederation: 9 (a)Management ofFederation: 9 (a)

General BodyMeeting 10 (g)

Each affiliated unit shall payto the Federation an annualfee at the rate of Rs.35/- permember

Secretaries 5

Organising Secretaries 7

Committee Members 23

Total 45

Each affiliated Unit shall havethe right to elect one delegatefor each block of 20 membersor major part thereof with aMinimum of two Delegates, themaximum delegates for theGeneral Body from an affiliatedunit shall be 20. The Delegateshall have to produce theidentity card issued by theGeneral Secretary of theFederation whenever required.

Each affiliated unit shall payto the Federation an annual feeat the rate of Rs.45/- permember

Secretaries 7

Organising Secretaries 9

Committee Members 29

Total 55

Each affiliated Unit shall havethe right to elect one delegatefor each block of 20 membersor major part thereof with aminimum of two Delegates, themaximum delegates for theGeneral Body from an affiliatedunit shall be 30.

54

(1) Non-receipt by any member of this notice or copies of the resolutions and/oramendments to the Rules & Bye-laws, if any, to be moved in the meeting, shall notinvalidate the proceedings of the said meeting.

(2) Members who are desirous of moving any resolutions/or amendments to theRules & Bye-laws of the Federation shall give 15 days clear notice to the GeneralBody and forward the same to reach the Central Office of our Federation on orbefore 10.02.2013.

Phone (R): 044-24712681 Mobile: +91 94442 32867 E-Mail: aicbrf2010@gmail.comWebsite: www.aicbrf.in

55

1. 2% ADDITIONAL INTEREST TO SENIOR CITIZENS:

This 1st Triennial Conference of All India Canara Bank Retirees’ Federationheld at Bengaluru on 26-02-2013 unanimously resolves and requestsReserve Bank of India to advise Banks to pay 2% additional interest toSenior Citizens ( 60+ ) on all categories of their deposits to provide themfinancial protection from the ever increasing inflationary pressures. Since2001, when the benign principle of paying higher rate of interest to SeniorCitizens was graciously initiated, there is no upward revision, rather reductionin some banks and hence this resolution.

2. 50% CONCESSION IN TRAIN FARES:

This 1st Triennial Conference of All India Canara Bank Retirees’ Federationheld at Bengaluru on 26-02-2013 unanimously resolves and requests theHon’ble Union Railway Minister to announce 50% travel concession to maleSenior Citizens ( 60+ ) as is already given to Women Senior Citizens. TheConference also requests the Railway Minister to make available thisconcession for all trains, including passenger trains, so that the poor seniorcitizens in the rural areas also get the benefits. It is further requested thatSenior Citizens (85+) should be considered as physically challenged personsand the facility of one escort free should be allowed to them.

3. 20% CONCESSION ON MRP OF ALL MEDICINES:

This 1st Triennial Conference of All India Canara Bank Retirees’ Federationheld at Bengaluru on 26-02-2013 unanimously resolves that the Hon’bleUnion Minister for Chemicals & Fertilisers, Government of India should issuemandatory instructions to all the Corporates in the Pharmaceutical industryto permit 20% concession on Maximum Retail Price (MRP) of all medicinespurchased by the community of Senior Citizens in their evening of their life,considering the rising costs of medicine.

4. UNDERTAKING SOCIAL SERVICE:

Being conscious that the best care, the retirees can get is from the familyand the Society and firmly believing that service is best means to win over

RESOLUTIONS RESOLUTIONS

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people, this 1st Triennial Conference of All India Canara Bank Retirees’Federation held at Bengaluru on 26-02-2013 unanimously resolves andappeals to all the retirees’ of the Bank in all the States to undertake socialservice programmes as permanent feature of retirees’ activities in the interestof various segments of the society, more particularly poor children, students,disadvantaged and marginalised sections of the society.

5. PROTECTION OF PENSION FUND CORPUS:

The UPA government has decided to raise the cap for foreign directinvestment in the insurance sector from the current 26 per cent to 49 percent. The Cabinet has also decided to allow FDI in pension funds. Thesemeasures announced by the Union Cabinet will make India’s financial sectormore vulnerable to speculative finance capital. The decision to allow FDI inpension funds will jeopardize the savings of millions of employees andpensioners in the country. All these measures will have far reachingconsequences for our dwindling economy. Though all this is being done inthe name of fiscal consolidation, the experience of EU countries thatimplemented such measures to carry forward the process of neo-liberalismhas clearly shown that it will ruin the national economy. One thing that must be kept in mind is the private insurance companies inthe US and in Europe have completely failed and collapsed. So, why thisprivate capital should be allowed to enter into our insurance and pensionsector? Pension is a social security concept and pension funds should notbe introduced in a speculative market.

We are concerned to note that steps have been initiated to invest/managehuge funds in the Pension Fund corpus of the Employees of Public SectorBanks with Private Pension Fund Manager/s.

The 1st Triennial Conference of All India Canara Bank Retirees’ Federationnotes with concern that the above move is a serious matter concerningpost retirement benefits of lakhs of serving employees, existing pensionersand family pensioners. Pension Corpus Funds are hard earned money ofevery past and present employees of the Bank accumulated over a periodof time and needs to be dealt with prudence and financial wisdom. Presently,the funds are being invested only in notified securities. Millions of dollars ofpension funds invested in the share markets in the USA have evaporated inthe financial crisis leaving the pensioners penniless and their lives shattered.

It is highly regrettable that the UPA government has not learnt any lessonsfrom this and is going ahead with its disastrous decision to hand over the

57

pension funds of the workers in our country to the private fund managersto be invested in equities. The foreign pension fund operators shall lurethe pension beneficiaries to be exposed to speculative market denyingany insulation from liquidation of social savings due to vagaries ofmarket. The hard earned money of the workers will thus be thrown to themercy of the share markets. As retirees, it needs to be assured that thecorpus of the pension fund is in the safe hands.

Hence, 1st Triennial Conference of All India Canara Bank Retirees’ Federationheld at Bengaluru on 26-02-2013 unanimously resolves to urge upon theUPA government to immediately rescind its decision to hand over theworkers’ money to private pension fund managers and its investment inthe share market.

The 1st Triennial Conference further calls upon the retired employees of thebank and the people to continue to oppose and defeat these anti-pensionermeasures.

6. SCHEME FOR HOSPITALISATION FACILITIES TO RETIREES:

Retired employees after having rendered life-long dedicated service in theBank, would like to have happy and peaceful retired life. The Bank has totake care of their well being and has to come out with meaningful steps toensure that the retirees also lead a healthy life. One of the major problemsthat the retirees encounter after their retirement from the Bank is hugemedical expenditure that they may have to incur due to ill health.The 1st Triennial Conference of All India Canara Bank Retirees’ Federationheld at Bengaluru on 26-02-2013 unanimously resolves to appeal to theBank to have a re-look on the welfare of the retirees at the fag end of theirlives and formulate Hospitalisation Scheme for the retirees.

7. UPDATION OF PENSION :

On the basis of a Settlement signed by the Indian Banks’ Association andthe All India Workmen’s Unions and the Joint Note by all the Officers’Organisations on 29.10.1993, a pension scheme, as a second retiral benefit,in lieu of contributory provident fund was introduced with effect from1.11.1993. The pension scheme is patterned on the scheme applicable toCentral Government employees and was introduced on 29-09-1995. Eventhough there had been 4 upward wage revisions, updation of pension hasnot yet been effected.

58

Consequently, there is glaring disparity between persons of equivalent Scales/Designations drawing vastly unequal pensions, if they retired at differentpoints of time. The inequity among old pensioners continues over decadeswith scant relief to very old senior citizens-cum-bank pensioners.

As such, the 1st Triennial Conference of All India Canara Bank Retirees’Federation held at Bengaluru on 26-02-2013 unanimously demands thatwith a view to ensure parity between past and present pensioners, a suitableformula aimed at total equity as between pensioners who retired before01.11.2012 and those who retired later should be evolved by the IBA/Govt.

In other words, all Pre-01.11.2012 pensioners be brought to the level of10th BPS/Joint Note by notional fixation of pay of the bank retirees (fromthe Bipartite Settlement/Joint Note during which period they retired), in thesame way as was done for serving bank employees. (Viz: by adopting thesame formula as for the serving employees so that past pensioners alsoget the benefit of same per centage of increase.) This would ensure totalparity.

8. 100% D.R. NEUTRALISATION TO PRE 01-11-2002 RETIREES:

The industry level Pension Settlement signed on 29-10-1993 provides forpattern similar to payment of dearness relief to RBI pensioners and RBIimplemented 100% neutralization of DA to its pensioners with effect from01.02.2005. Despite voicing our demand for several years, the same didnot materialise. In this regard, this Conference of All India Canara BankRetirees’ Federation held at Bengaluru on 26.02.2013 congratulates all the81 Petitioners who filed Writ Petitions in Madras High Court. The Conferencefurther welcomes the judgment dated 14.12.2012 delivered by MadrasHigh Court and appeals to the Bank to implement the order passed by theHon’ble Court for payment of dearness relief at 100% on entire basic pensionto Pre-01.11.2002 retirees with effect from 01.02.2005.

9. PAYMENT OF PENSION ARREARS TO THOSE RETIRED FROM01.04.1998 TO 30.04.2005:

Basic pension shall be calculated @ 50% of average pay drawn by anemployee during the last 10 months of his service in the bank. In respect ofpost 01.04.1998 retirees, on the plea of pension cost, the banks changedthe definition of “Pay” for the purpose of pension payment on the basis ofadding to the pay paid earlier to 01.04.1998, dearness allowance thereon

59

at CPI 1616 points resulting in monthly reduction of pension payable andone time reduction of commutation amount receivable contrary to PensionRegulations 1995. This is discriminatory.

The 1st Triennial Conference of All India Canara Bank Retirees’ Federationnotes that while the Govt. & the IBA restored the Statutory Definition ofPay with effect from 01-05-2005, arrears of pension/commutation benefitsin respect of post 01-04-1998 retirees have not been paid so far. Therefore,this 1st Triennial Conference of All India Canara Bank Retirees’ Federationheld at Bengaluru on 26-02-2013 unanimously resolves to urge upon theGovt/IBA to remove this discrimination and dispense justice to pensionerswho retired from 01-04-1998 to 30.04.2005 by paying differentialcommutation amount and pension arrears from the date of their retirement.

10.EARMARKING FUNDS FOR RETIREES’ WELFARE:

Founded in 1906 with very modest business, our Bank has grown to thepresent level with Global Business of around 5.52 lakh crore. Thisphenomenal growth in the last more than 100 years has been made possiblebecause of significant contribution made by generation after generation. Hencepast employees are also stakeholders and should receive their due share inthe growth and prosperity of the Bank. This 1st Triennial Conference of AllIndia Canara Bank Retirees’ Federation held at Bengaluru on 26.02.2013unanimously resolves and urges upon the Bank to formulate Welfare Schemesby allocating at least 25% of the amount allotted for Staff Welfare Measuresexclusively for the benefit of retired employees of the Bank.

11.ENHANCEMENT OF EX-GRATIA AMOUNT TO PRE-1986 RETIREESAND SURVIVING SPOUSE OF PRE-1986 RETIREES:

This 1st Triennial Conference notes that the number of surviving Pre-1986retirees (aged 83+) are less than 200 only, which will further get reducedconsiderably with passage of time. The 83+ year old retirees/survivingspouses badly need financial support at the fag end of their life and thedelay in getting any benefit will be virtually a denial thereof, as most of themare counting their days.

In view of the foregoing, this 1st Triennial Conference of All India CanaraBank Retirees’ Federation held at Bengaluru on 26-02-2013 unanimouslyresolves to appeal to the IBA and the Central Government to grant enhancedEx-gratia amount of Rs.1,000/- + Dearness Relief to all the Pre-1986 retireesand surviving spouses of Pre-1986 retirees.

60

12.CONTROLLING PRICE RISE & STRENGTHENING PUBLICDISTRIBUTION SYSTEM:

The prices of food items and other essential commodities have continuedtheir relentless rise. The continuous increase in the prices of food grains,edible oil, dal, sugar and vegetables is causing immense hardship to thepeople and the Central Government has failed to check the continuing rise inprices of food and other essential commodities. The Consumer Price Indexinflation rate has gone up from 9.5 per cent in October 2012 to 10.56 percent in December 2012. There is no respite in the price rise of wheat, rice,pulses and other food items.  At this critical juncture, the UPA government has announced steps toderegulate the price of diesel. This will result in continuous rise in the price ofdiesel which will affect transportation and fuel inflation. Farmers will be badlyhit. Such deregulation will allow oil companies to raise prices to matchinternational levels. These are much higher than domestic cost of productionpermitting the oil companies to reap windfall profits at the expense ofimposing unprecedented burdens on the people. Even before the railway budget has been presented, the UPA governmenthas increased the railway passenger fares across the board. The governmenthas announced a National Pharmaceutical Pricing Policy that will effectivelynullify the drug pricing control regime and allow the MNC and bigpharmaceutical companies to continue to reap big profits. The Rangarajancommittee’s recommendation for the total decontrol of the sugar industry, ifimplemented, is going to adversely affect the sugarcane farmers and have acascading effect on the price of sugar for the PDS beneficiaries.  This 1st Triennial Conference of All India Canara Bank Retirees’ Federationbeing held at Bengaluru on 26.02.2013 calls upon all right thinking people tojoin the struggles against price-rise and the anti-people policies of the UPAgovernment. The Conference further demands that the Government supplyitems like pulses and edible oils by further strengthening Public DistributionSystem throughout the country.

13. PENSION TO PART TIME EMPLOYEES:

The part time employees in Scale Wages have been getting raw deal inpension matters as their services are proportionately reduced to calculatepension payable based on their proportionate salary. The proportion oftheir service is effected in salary as well as in calculating qualifying years

61

of service also. Hence they suffer double impact in their services as PTEs. Infact they deserve better pension. Already serving part time employeesare getting benefits like LFC, Medical at par with full time subordinatestaff. Hence full pension must be paid for retired part time employees alsoat par with full time subordinate staff.

In the light of Provisions 20.7 & 20.8 of 1st Bi-Partite Settlement dated19-10-1966 and also Chapter IV Para 16 on Qualifying Service of CanaraBank (Employees’) Pension Regulations 1995, this 1st Triennial Conferenceof All India Canara Bank Retirees’ Federation held at Bengaluru on 26-02-2013 unanimously demands that the Bank implements the above provisionsand take into account the period of service rendered by PTEs onconsolidated wages also for reckoning qualifying years of service forPension through appropriate amendment to Pension Regulations.

Further, it is resolved to demand that the bank shall not proportionatelyreduce the service years of part time employees and pay pension for allpart time employees calculating on the salary applicable to full timesubordinate staff.

14.ON BANKING INDUSTRY:

The expansion and contribution of the public sector bank in the last fourdecades are world records, deposits and advances of Rs.4665 crores and3609 crores respectively and Rs.17,97,505 crores contributed to agriculture,rural development, employment generation, small & medium industries,infrastructure development, health, education poverty alleviation etc.

In the name of ‘Banking Sector Reforms’ under the policies of neo-liberalglobalization, and the compulsions of the WTO and international finance capital,the Govt. of India has been pursuing the policies which adversely affect thegrowth, strength and role of the nationalized banks, such as

(i) reducing the Govt’s share and allowing more private capital of Corporate/FIs/FIIs in public Sector Banks;

(ii) proposed merger of Public Sector Banks and allow FDI in Banks evenupto 74%;

(iii) reduction of bad loans NPA through write offs, interest waivers,compromise etc. instead of taking stringent actions against thedefaulters;

62

(iv) outsourcing of regular and normal banking jobs;

(v) reducing interest on small deposits & savings and giving higher andpreferential rates of interest to the Corporates &

(vi) shrinking the controlling, monitoring and supervising role of RBI etc.

The entire bank employees and officers of the nationalized banks have beenconsistently campaigning, organizing and agitating to annul the adverse andretrograde policies and proposals of the Government and also against thevarious govt. sponsored committees such as Tarapore Committee, RaghuramRajan Committee, Anwarul Hooda Committee etc.

The 1ST Triennial Conference of AICBRF held at Bengaluru on 26-02-2013unanimously congratulates and fully supports the struggle of the Bankemployees against privatization, outsourcing, merger and as well as the‘Banking Reforms’ being pursued by the Govt. and towards strengtheningand expanding public sector banks which have firmly withstood the crisisfaced by the foreign and Indian Private banks in the U.S. melt down under thereckless market economy.

15.REPRESENTATIVES OF RETIREES IN VARIOUS TRUSTS/COMMITTEES:

1st Triennial Conference of All India Canara Bank Retirees’ Federation held atBengaluru on 26-02-2013 appreciates Govt. of India’s positive gesture forincluding Representatives of Pensioners’ Associations in the constitution ofSenior Citizens’ Council. Discussing and deciding the Matters/Policies relatingto Pensioners/Retirees, without their representatives is unfair. At presentvarious Committees like Staff Welfare Committee, Provident Fund/PensionFund & Gratuity Trusts are there wherein matters/policies relating topensioners’ welfare are discussed and decided, but they do not havepensioners’/retirees’ representatives with the result their viewpoints andhardships could not be properly represented. There is no Committee for theretired employees to sort out such issues pertaining to retirees. Aspensioners are a homogenous class, there is an urgent need to constituteseparate Committees for pensioners wherein matters/policies/anomaliesrelating to pensioners of all categories may be discussed. Equity demandsthat the stake holders too should be included in these Committees/Trusts.

In view of the above facts, this 1st Triennial Conference of All India CanaraBank Retirees’ Federation held at Bengaluru on 26.02.2013 unanimouslyurges upon the management to include Pensioners’ representatives also insuch Committees/Trusts, wherein issues relating to the welfare of pensioners

63

are discussed and decided facilitating the retirees to be part of the decisionmaking process for ensuring better protection of retirees’ interests.

16.SOCIAL SECURITY FOR ALL WORKING PEOPLE: 

Social security benefits like pension, provident fund, free access to medicalfacilities etc. are hard won rights of the working class secured through decadesof struggle in the twentieth century. These gains are now being reversedthrough privatisation of pension funds, provident funds and cuts in subsidiesand welfare benefits. The neoliberal austerity measures being implementedacross the world today specifically target the social security benefits in orderto pass on the burden of the economic crisis to the working people.   In India, the overwhelming majority of more than 46 crore strong workforce,a large number of them women, is outside the cover of any social security.Around 93% of the total workforce in the unorganised sector comprising ofthe informal sector workers, contractual labourers, self-employed persons,agricultural workers and small peasants, are not entitled to any pension,provident fund or health care. The pension schemes for senior citizens, widowsor disabled persons are so restrictive that the bulk of these vulnerable sectionsdo not benefit from them.   Ten already existing social welfare schemes, most of which cover only theBPL segments of the population, have been extended to the unorganisedsector workers. With the ridiculously low BPL criteria of the government,more than 90% of the unorganised sector workers are left out of the purviewof these schemes.

The existing social security cover for the organised sector employees, bothin the public and private sectors, is also under threat. The PFRDA seeks toprivatise pension funds, allow/increase FDI in the insurance/pension sector,thus facilitating the investment of pension funds in the speculative stockmarket.  The 1st Triennial Conference of AICBRF being held at Bengaluru on 26-02-2013 demands that all sections of the toiling people, particularly the vulnerablesections, be brought under the cover of social security and further calls uponall sections of the toiling people to unite and launch sustained struggles tosecure their universal right to social security.

64

17. ON PRIVATISATION OF FINANCIAL SECTOR India has a bright record with respect to people’s savings. Domestic savingsare channelled by means of insurance, banking, mutual funds and pensions tomake up a stock of capital that constitute an important resource for meetinginfrastructural and social investment needs. These savings represent analternative preferable to foreign capital in building our nation’s economy. The primary reason for the nationalization of financial institutions such as themajor scheduled commercial banks, insurance, and other institutions was tomake funds available to the state for public investment. Today, however, theGovernment of India has chosen a different path: that of privatizing financialinstitutions and sources of domestic savings. Banking Laws (Amendment)Act and the other 2 Bills the Insurance Laws (Amendment) Bill, and the PensionFund Regulation and Development Authority Bill, are part of the dangerousmove to hand over control of domestic savings to the private corporatesector, including international finance capital. There is a real danger that savingswill be exposed to the vagaries of the stock market. This Conference  opposes the Insurance Laws (Amendment) Bill, and the Pension Fund

Regulation and Development Authority Bill and

opposes the dangerous move to divert pension funds to stock market

1st Triennial Conference of AICBRF being held at Bengaluru on 26.02.2013further appeals to all the retirees in the financial sector to join the struggle forprotecting the people’s savings.

18. ON ORGANISATION & OUR TASKS:

We, the members of affiliated Units of AICBRF, bonded by the attachment toour great Institution, Canara Bank, having congregated at Bengaluru on the1st Triennial Conference of the All India Canara Bank Retirees’ Federation on26.02.2013, hereby declare and resolve that:

Retirement from service is a natural process in one’s career. It is a turningpoint in one’s life, with all its amazing gaiety and grandeur. Having lived the lifewith the institutional goal and personal enrichment till retirement, a differentlife awaits the Retirees. However, loyalty to the Bank and the solidarity withthe colleagues remain forever. Uniting the Retirees under the banner of AICBRF

65

is the natural corollary of this affinity. This association is inspiring, invigoratingand forward looking.

Thus, AICBRF is the canopy that encompasses the entire spectrum of retiredemployees of Canara Bank. It is the platform of unity overcoming the hurdlesof caste, creed, colour, religion and the past hierarchical differentiation. Withperfect unity of mind and goal, we share the common future that standsbefore us.

After retirement, we stand poised to enter into a new phase of life whereinthe past trappings of office no longer count. We are united by the tag ofretirees. We are equals as senior citizens. There is neither any need nor logicfor any differentiation among the retirees. There is no justifiable cause fordisrupting bank retirees’ unity on the basis of past designation. AICBRF is thesymbol of all round unity amongst Retirees in Canara Bank.

The seed of AICBRF was sown in the Foundation Conference at Chennai on20.12.2009. With proper nurturing, it has now grown to a mighty treeencompassing more than 5000 retirees in our Bank with thirteen affiliatedunits. This does not mean that we are content with what we are today. Thechallenge for uniting all the Retirees from different corners of the country,though looks formidable, is pregnant with immense possibilities. Given thedynamism gained during the initial phases, there is no doubt that we wouldaccomplish this goal of uniting all the Retirees of Canara Bank under AICBRFin the short run.

We are comparatively well placed in life with the defined pension. Nevertheless,there are genuine issues that really bother us. Reasonable medical coveragein the event of hospitalisation of Retirees is a matter that has been eludingsolution. This issue worries the Retirees more than anything else. We set thisas the most favoured priority of the Federation in the coming days.

We are the product of active trade Unions/Associations in our Bank in thepast. We maintain cordial relationship with in-service Unions/Associations inour Bank. Yet, we have distinct identity as an Organisation of Canara BankRetirees. We are not an appendage of any Organisation and we move forwardwith the belief in total unification of all retired employees in Canara Bankunder the aegis of All India Canara Bank Retirees’ Federation.

We take legitimate pride in being an affiliate of our National Organisation, AllIndia Bank Retirees’ Federation, the single largest mainstream of bank retirees’movement. As an affiliate of AIBRF, we shall continue to contribute our best

66

to the movement launched by our parental Organisation and stand by itsvalues and commitments. Our Units in different States, spread this sentimentby coordinating their efforts and activities with the State Federations/Committees of AIBRF for building a powerful Retirees’ movement under thebanner of AIBRF.

We are an Organisation of only three years standing. Yet, we had creditableachievements and reached large segment of the retirees. We have to effectivelyimpress upon our Bank to understand the aspirations and genuine requirementsof the retirees and to accommodate their view points positively. Our efficacyas a performing organisation not only depends upon our unity, but also onthe sense of fair play on the part of the bank management.

AICBRF is a budding Organisation and the financial muscles need to bestrengthened. Financial constraints should not cause impediments in theonward march of our Federation. However, we have to go a long way. Wehave to establish our Units in many States. We need to work hard in thisregard by renewing our old contacts/association with our former colleaguesfor building our Organisation further. It is inspiring to observe that the retireesare more willing to be organised and we shall embark on this onerous taskwith more dedication. This Conference, we believe, will accelerate our effortsin moving towards that direction with devotion and redoubled efforts. Wehope that when we meet in the next Conference, we would have become amammoth entity with most of the States having its Units. Thus, we shallmake our Federation a truly massive all India Organisation in the comingyears.

Guided by the above philosophy, this 1st Triennial Conference of All IndiaCanara Bank Retirees’ Federation held at Bengaluru on 26-02-2013unanimously resolves to call upon retired employees of our Bank to getorganised in all the States/Union Territories across the country. The 1st TriennialConference further resolves to call upon our functionaries and activists torise to the occasion with focussed efforts, come forward with their wholehearted cooperation and unstinted support in large measures to enlist moreand more retirees to our fold in the backdrop of increasing number of retiringemployees in the days to come, thus strengthening our beloved Federationfurther both organisationally and financially, for winning our just and reasonablepending demands.

67

PREAMBLE

Introduction of Pension Scheme in Banks on the lines of Central Government

Employees in 1995 was a historic event and brought qualitative change in

relationship between Ex-employer and Ex-employee in post-retirement era.

Major features of this pension scheme are:

1. Defined returns to retirees irrespective of performance of Pension Funds;

2. Social and economic security to retirees;

3. Element of welfare of retirees;

4. The Scheme was on the models of Scheme made applicable by Central

Government Employer which undertake exercise of pension updation

under each Pay Commission;

5. Family Pension after the death of the pensioner.

However, it is unfortunate that more than 50% employees did not opt for

this pension scheme in 1995. Because of this development, updation exercise

did not receive desired attention of the negotiating parties from 6th to 9th

Wage Settlements. Instead there was tug-of-war between Pension and PF

optees to secure better terms for themselves.

During last 15 years, Indian Economy and Indian Banking Industry have

witnessed unprecedented growth. Indian GDP has increased more than 6

times and has reached close to 3 trillion dollars. It is now considered one of

the fastest growing economies of the world. Similarly, Indian Banking Industry

has also recorded average annual growth of 25 percent in terms of deposits,

credits, net profits and branch expansion growth. Profits of most of public

AIBRF - CHARTER OF DEMANDS

68

sector banks have tripled in last 15 years and majority shareholder,

Government of India has reaped handsome profits on its investment. Similarly,

salaries of bank employees have gone up more than 200% during this period.

However, despite such positive features of the economy, bank retirees have

been meted out gross injustice by denying pension updation.

But under 9th Wage Settlement, one very positive development has taken

place because of efforts of in-service unions under the banner of United

Forum of Bank Unions (UFBU). PF optees have been given one more option

of pension. Because of this, now almost 100% bank employees as well as

past retirees have become pensioners. This development has brought

perceptible change in attitude and approach of in-service unions towards

pending demands of retirees. It can be seen from recent communications of

UFBU that they have committed themselves to resolve all pending issues of

retirees for which we have been fighting in the past. This has created favourable

climate for retirees and now we can hope with reasonable confidence that all

our demands with the support of UFBU will be met in coming days.

Keeping above developments in mind, we have drawn highly logical and realistic

CHARTER OF DEMANDS for retirees after comprehensive deliberations at

various levels to ensure justice for retirees so that they can lead respectful

and dignified life at their advanced age.

We are confident that UFBU who have been negotiating on behalf of retirees

at present shall work for their resolution and ensure that retirees get their

69

due share. We also hope that Government, IBA and Bank Managements will

also show magnanimity towards bank retirees.

Central Committee

All India Bank Retirees’ Federation

(A.I.B.R.F.)

MEMORANDUM

DATE: 14-01-2011

Government policy states “Senior Citizens are treasure to our society. They

have worked hard all these years for development of the nation as well as

community. At this age of their life they need to be taken care of and made

to feel special.”

However, it is unfortunate that more than 3 lakh bank retirees have been

struggling for last 15 years for resolution of their long pending demands.

Today there is no uniform medical scheme for bank retirees and in the absence

of it they are deprived of proper and timely medical treatment. More than

10000 bank retirees who retired prior to 1986 get paltry amount of Rs.1987/

- per month as Ex-gratia amount in lieu of pension which is totally inadequate

for survival. While banking industry is growing year after year and bank profits

are mounting, these bank retirees who contributed significantly in building

banking industry have been left completely uncared and neglected.

70

Banking industry has witnessed three wage settlements after introduction of

pension scheme in 1995 providing salary increase of more than 200 percent

to existing employees. However, no increase in basic pension has been granted

to the retirees thereby creating serious anomaly in the pension structure of

those retired in the past and the employees retiring now.

Bank retirees have been continuously approaching and requesting Indian Banks’

Association (IBA) to meet representatives of retirees’ organisation to discuss

their grievances and demands for resolution. But it is highly regrettable that

IBA has been adamantly and without logic refusing to give audience and

thereby denying fundamental right to senior citizens. It is established fact

that after introduction of pension scheme in banking industry contractual

relationship between bank retirees and their ex-employees has been re-defined.

Now, this relationship is on continuous basis giving scope for grievance to

retirees and its periodical review. Therefore, it is logical that Indian Banks’

Association representing bank management should convene periodical

meetings with representatives of retirees’ organisations so that issues could

be resolved across the table. But, because of present undemocratic attitude

of IBA, retirees have been forced to go to court of law for their issues. Today,

bank managements are incurring huge amount on these cases and thereafter

losing cases in courts.

Bank retirees have organised themselves under the banners of All India Bank

Retirees’ Federation (AIBRF) and Retired Bank Officers National Confederation

(RBONC) to carry out the movement to protect their legitimate rights through

negotiations and other democratic manner. The above two organisations of

71

bank retirees have membership of more than 1 lakh and are majority

organisations and coordinate their programmes and activities under apex

body namely United Forum of Bank Retirees’ Organisation (UFBRO)

Bank retirees express sincere gratitude to Dr.Sudarshan Nachiappan, former

Chairman of Parliamentary Committee on Public Grievances for taking initiative

in arranging the meeting the Parliamentary Committee to discuss pending

issues of retirees and giving advice to Government/IBA to resolve the issues.

It is regrettable to note that despite IBA representatives present in the meeting

having agreed to take suitable action to resolve the pending matters, no

actions has been taken after lapse of about 2 years.

In view of the above, we approach you, Sir, with humble request to have a

look at the following demands of bank retirees which are most justified and

ask IBA to initiate talk with representatives of retirees organisations and

work for their solution at the earliest.

DEMANDS:

1. 100 per cent D.A. neutralisation to Pre-2002 retirees.

2. Pension updation on the pattern of 6th Pay Commission.

3. Uniform Medical Scheme for retirees.

4. Two percent of bank profit should be allocated for Welfare of bank

retirees.

5. One more option of pension should be given to all past retirees who

are originally eligible as per provisions of Pension Regulations 1995.

72

6. Differentiation between retirees and resignees should be removed for

the purpose of pension option.

7. Establishment of proper grievance Redressal Mechanism for retirees in

all banks at Corporate and Zonal Level.

8. Index based dearness rates should be granted to retirees on quarterly

basis along with serving employees instead of in six monthly basis.

9. Improvement in Ex-gratia amount payable to Pre-1986 in view of

steep rise in inflation.

We are confident, Sir, that you will use your good offices to help the

Senior Citizens in resolving above demands and we are sure that we shall not

be forced to use agitational path at the fag end of our life.

With Respectful Regards,

Yours sincerely,

1.Sd/- S.R.Kulkarni 2.Sd/- S.C.Jain 3.Sd/- K.Sukumaran 4.Sd/-Sanjeevi Rao President General Secretary President General Secretary A.I.B.R.F. A.I.B.R.F. R.B.O.N.C.

AND

All Office Bearers of All India Bank Retirees Federation (AIBRF) and Retired

Bank Officers’ National Confederation (RBONC) and their Constituents

AND

More than 1,00,000 Retired Bank Employees and Senior Citizens who are

members of the above Organisations.

R.B.O.N.C.

73

UNITED FORUM OF BANK UNIONS

( AIBEA – AIBOC – NCBE – AIBOA – BEFI – INBEF – INBOC –

NOBW – NOBO )

NATIONAL CONVENTION

AT NEW DELHI ON 20TH MAY 2011

DECLARATION

ALL INDIA BANK STRIKE: ON 7TH JULY, 2011.

This National Convention of trade unions of bank employees and bank officers

under the banner of United Forum of Bank Unions and representing near total

of employees and officers of the Indian Banking Industry notes with serious

concern the various financial policies of the Government which are detrimental

to the interest of the banking sector, public interest, banking staff and their

rights and benefits.

In the name of banking sector reforms, the Government is attempting to

reduce their share of Equity Capital in the Public Sector Banks thereby increasing

the hold of private capital in these Banks. Recently the Government has

availed loan from World Bank in order to capitalise the Banks and thus bringing

the conditionalities of the World Bank over the performance and functioning

of our Banks. The Government is also pursuing their policy of consolidation

and merger of Public Sector Banks which are totally unwarranted and would

in no way benefit to strengthen our Banks. Similarly, the Government is also

encouraging more FDI in the Banks, particularly in the Private Sector Banks

74

and has introduced a Banking Regulation Act Amendment Bill in the Parliament

for removing the existing ceiling on voting rights of the foreign investors.

The Government has also announced its decisions to formulate new banking

licensing policy to enable Industrial houses to start Banks. Even on issues

like outsourcing the permanent and perennial jobs, the managements are

pursuing reckless policy of Outsourcing various jobs and services. To compound

the problem, Banks are appointing private Business Correspondents and

Business facilitators which is nothing but privatizing the banking jobs and

services.

The Convention notes with serious concern the retrograde proposals of the

Khandelwal Committee like dismantling industry-level wage settlement,

introduction of Fixed / Variable Pay for employees, freehand to transfer

employees, freedom to outsource all permanent bank jobs, etc. and rejects

the Report and demands its withdrawal.

On issues concerning the employees and officers, important issues are being

glossed over. The revised scheme on compassionate ground Appointment/

Financial Compensation to the family of deceased employees stood resolved

between IBA and UFBU long back but till today it has not been approved by

the Government and allowed for implementation. When better customer

service is the cry of the day, adequate employees and officers are not being

provided at the Branches. There is dire need to resort to massive recruitments

and revival of BSRB for undertaking this process as against the existing private

agency. The demand for improvements in pension scheme on the lines of

the Government Scheme like updation of pension, 100% DA neutralisation

on Pension, improvement in commutation, family pension, ex-gratia for pre-

75

1986 retirees, etc. are most genuine issues but not being attended to by the

Government. Introduction of 5 day week, regulated and defined working

hours for Officers, etc. are also very important issues that need to be resolved

expeditiously. On the other hand, Government has given instructions that no

service conditions of the employees in the Banks should be improved upon

without their specific approval.

All these have created a situation of total unrest amongst the employees and

officers of the banking sector.

This Convention, after careful deliberations and consideration, has come to

the unanimous conclusion that, all out efforts should be taken by the UFBU

to fight back the increasing attacks on the banking sector and on the bank

employees and officers and build up programmes, agitation to repulse these

attacks.

The Convention, accordingly, gives the following action programmes:

1. Submission of Mass Memorandum to Bank managements

by all our unions.

2. Deputation to CMDs of Banks by UFBU Constituents in each

bank.

3. Mass Demonstrations before Banks throughout the

Country on a day to be decided locally(Between 20-25th

June, 2011).

4. Badge-wearing on 30.06.2011.

76

5. Mass Rallies in major cities and towns on 4.7.2011.

6. All India Bank Strike on 7.7.2011.

7. Further agitations and Strike actions to be announced

thereafter.

The Convention calls upon all Unions of UFBU and their members throughout

the Country to rise as one man and implement the programmes and strike

action effectively.

The UFBU appeals to all the Central Trade Unions to extend their full support

to our agitational programmes.

Sd.. Sd.. Sd..

AIBEA AIBOC NCBE

Sd.. Sd.. Sd..

AIBOA BEFI INBEF

Sd.. Sd.. Sd..

INBOC NOBW NOBO

77

AIBEA/GS/2011/52 25th May, 2011

To

Shri. Pranab Mukherjee,

Hon’ble Minister for Finance,

Government of India,

North Block,

New Delhi.

Dear Sir,

Reg : Grievances of Bank Retires

The All India Bank Retirees Federation and United Forum of Bank Retirees

Organisation have been representing to the Government and Indian Banks

Association to redress some of their genuine grievances and demands but

with no effect so far. You are well aware that the Pension Scheme evolved

and introduced in the Banks is exactly on the lines of Central Government

Pension Scheme and hence some of the improvements that have been

incorporated in the Government Pension Scheme consequent to the 6th Pay

Commission need to be extended to the bank retirees also. The recent

extension of one more option to join the Pension Scheme has brought great

ALL INDIA BANK EMPLOYEES’ ASSOCIATIONCentral Office: “ PRABHAT NIVAS “

Singapore Plaza, 164, Linghi Chetty Street, Chennai-600001Phone: 2535 1522, 6543 1566 Fax: 4500 2191, 2535 8853

e mail ~ chv.aibea@gmail.com & aibeahq@gmail.com

78

relief to number of retired employees and officers who are today covered by

the Pension Scheme and we are thankful to the Government for the same.

But the following issues of the bank retirees deserve the special attention of

the Government and your sympathetic consideration.

1. For the Government employees, on occasions of salary revision, pension

revision is also given and accordingly their pension is updated. But in

the case of bank retirees, the Pension remains static as sanctioned at

the time of their retirement and does not undergo any change

thereafter. The periodical updation of pension along with salary revision

of in-service employees is very genuine and fair expectation, especially

when the same is available to the Government employees.

2. Since their pension is fixed based on their pay at the time of their

retirement, there are currently 5 different price index (600, 1148, 1684,

2288 & 2836) on which DA is paid to the retirees depending upon their

period of retirement i.e. 1-1-86 to 31-10-92, 1-11-92 to 31-3-98,

1-4-98 to 31-10-2002, 1-11-2002 to 31-10-2007 and from 1-11-

2007 onwards. Their pension needs to be adjusted and upgraded to a

common price index by merging the DA upto that level . This will bring

in uniformity of indexing the Pension of the retirees.

3. In payment of DA, after introduction of 100% neutralization against

price rise from 1.11-2002, those who have retired after this date are

being given 100% neutralization for price rise while the past retirees

79

continue to be paid DA on a tapering basis with 4 slab formula of the

earlier system. There is a genuine need to extend 100% DA

neutralization to all the retirees at least from a prospective date.

4. While the in-service employees get DA variation on quarterly basis, for

retirees, DA on Pension is paid on half yearly basis. This needs to be

changed to quarterly basis for retirees also.

5. Under the 6th Pay Commission Report, there are improvements in the

rate of pension for very aged senior citizens, in the commutation of

pension, eligibility service to get full pension, etc for the Government

pensioners and these need to be extended to the bank retirees too.

6. It is also experienced that the quantum of Family Pension is very

inadequate and this requires a sympathetic approach from the

Government to revise the same suitably.

7. Since the Pension Scheme was introduced in the Banks from 1.1.1986,

the pre-1986 retirees are being given a Ex Gratia of Rs.300 per month

+ DA and their widows are being paid a fixed lump sum Ex Gratia of

Rs.1000 per month. These pre-1986 retirees are aged 85 years and

above and are very few in number, may be around 6000 persons in

the entire banking sector. Considering their age, ill-health, etc. the

Government should kindly increase the Ex Gratia amount.

8. There are number of grievances of the retirees at the Bank Level

regarding delay in sanction of Pension, delay in disbursements, etc.

and hence Government / IBA should give proper guidelines to all Banks

to put in place a regulated mechanism to redress these grievances.

80

This will help in avoiding / reducing litigations, etc. on the part of the

retirees.

9. Government has already advised the Banks to set apart a portion of

the amount allocated for Staff Welfare from the Net Profit of the Banks

towards benefitting the retirees. Still it is not being implemented properly.

Hence Government may consider advising the Banks to set apart an

uniform percentage of funds from out of the profits towards Welfare

Schemes for the retirees.

10.The in-service employees are entitled to reimbursement of medical

expenses on occasions of hospitalisation but after retirement, the

retirees are not covered by such facilities. In the context of ever

increasing cost of medical treatment, retirees become extremely

vulnerable when they fall ill and hence some uniform medical expenses

reimbursement scheme needs to be made available to them.

These are some of the important grievances and demands of the bank retirees.

We request you to take a positive view of their grievances and advise necessary

steps to be taken by the Government / IBA in this regard.

Thanking you,

Yours faithfully,

(Sd.) C.H.VENKATACHALAM

GENERAL SECRETARY

Copy to :-

Chairman,

Indian Banks Association,

Mumbai.

81

REASONABLE EXPECTATIONS OF

BANK RETIREES IN

INDIAN ENVIRONMENT

1. To have tension-free life for self, his/her spouse and family

2. To maintain life-style matching to his/her Pre-retirement status/

position in the bank.

3. To ensure good health for self and his/her spouse

4. To have longevity in life

5. Social Security as well as physical security

6. Respectful and dignified life

7. To have regular source of income, free of any risk to fulfill above

objectives.

82

WAGE INCREASE OF BANK EMPLOYEES

Wage Settlement

3rd Settlement

4th Settlement

5th Settlement

6th Settlement

7th Settlement

8th Settlement

9th Settlement (Contri-

bution to Pension Fund

– Employees)

9th Settlement (Contri-

bution to Pension Fund

– Post Retirees)

Increase per annum

(Amount in Rupees)

33

240

580

1015

1750

2700

4200

2100

Per-Capita

Increase per

annum

950

2700

5800

9200

14500

24500

—

—

83

PAYING CAPACITY OF BANKS

PROFITABILITY OF PUBLIC SECTOR BANKS

Year

2002200320042005200620072008200920102011

Net Profit(Amount inCrores)8302122961654717477194802421526200343733925744901

Annual Growth

48.11%34.57%5.62%11.46%29.44%8.2%23.78%14.21%14.38%

Capital Gain/Dividend Income of Govt. of IndiaMajority Shareholder (Amount in Crores)

Sl.No.01020304050607080910

Bank

SBIPNBBOIBOBCanara BankCBIUCOIndian BankIOBVijaya BankTotal

OriginalInvest- ment

3000300120065090016005003000450250

11850

DividendIncome

90044021035033048012025520050

3335

Present valueof Investment

600002000014000176001200032002800680040001200

141600

84

DEMANDS OF BANK RETIREES

Srl.

No.

01

02

03

04

05

06

07

08

09

10

11

12

13

14

15

DETAILS

Pension on the lines of 6th Pay Commission (Updation Exercise)

Higher Pension to Super Senior Citizen on the lines of 6th Pay

Commission

Improvements in Family Pension on the lines of 6th Pay

Commission

100% DA Neutralisation for those retired before November

2002

One more pension option to VRS optees, compulsory retired

Employees and resignees who have been left out under 9th

Settlement

Dearness Allowance revision on quarterly basis instead of

present system of 6 monthly review

Enhancement of Ex-Gratia to Pre-1986 Retirees

Enhancement of Ex-Gratia to surviving spouse of Pre-1986

Retirees

Uniform Medical Scheme

Separate Welfare Funds for Retirees

Establishment of Grievance Redressal Cell and their effective

functioning

Weightage for qualifying service to Specialist Officers

Recognition of Retirees’ Organisations by IBA/Government for

negotiation

Interest free Festival Advance and Funeral Expenses to Retirees

85

Extracts from the Common Charter of Demands submitted to

IBA by UFBU on 30.10.2012 in respect of Bank Retirees

AIBEA – NCBE – BEFI – INBEF - NOBW

Camp: Mumbai, 30th October, 2012ToMr. K.R. Kamath,ChairmanIndian Banks AssociationMumbai

Dear Sir,

Reg: Our Charter of Demands for revision of wages and service conditions under 10th Bipartite Settlement

You are aware that the current 9th Bipartite Settlement is ending this month

and revision of wages and service conditions is due from November, 2012.

On behalf of our five Workmen Unions viz. AIBEA, NCBE, BEFI, INBEF and

NOBW, we submit herewith our common Charter of Demands covering pay

scales, other wage components and service conditions. We request you to

initiate early discussions on these demands so that, through bilateral

negotiations, we can arrive at a settlement as expeditiously as possible.

Thanking you,Sd. C.H. VENKATACHALAM

GENERAL SECRETARY,ALL INDIA BANK EMPLOYEES’ ASSOCIATION

Sd.. M.V. MURALIGENERAL SECRETARY,

NATIONAL CONFEDERATION OF BANK EMPLOYEES

Sd. PRADIP BISWAS

86

GENERAL SECRETARY,BANK EMPLOYEES FEDERATION OF INDIA

Sd. SUBHASH SAWANTGENERAL SECRETARY,

INDIAN NATIONAL BANK EMPLOYEES FEDERATION

Sd.. ASHWANI RANAGENERAL SECRETARY,

NATIONAL ORGANISATION OF BANK WORKERS

Improvement in pension scheme and other retirement benefits.

Extension of certain benefits like LFC, medical aid andhospitalisation expenses reimbursement to retired employees.

Cost of retirement benefits and hospitalisation expenses to beexcluded from the negotiated cost.

RETIREES:

Retired employees should be covered by a hospitalisationexpenses reimbursement scheme.

SUPERANNUATION BENEFITS

1 - PROVIDENT FUND

12% of ‘Pay’

2 - Gratuity

One month’s ‘Pay’ for each year of service rendered without anyrestrictions.

Last drawn ‘Pay’ or 12 months average Pay , whichever is higher,should be taken for computation of gratuity.

3- Pension related issues:

87

NPS to be withdrawn and all new employees from 1-4-2010 coveredby NPS to be covered by old scheme under Pension Regulation 1995.

Permanent Part-time employees on Consolidated Wages prior to1.5.2010 and made 1/3rd wage from 1-5-2010 should be coveredby Pension Regulations.

Refund of contribution to pension fund to the employees who joinedbetween 1.11.1993 but before Pension Regulation came in force in1995/1996.

Periodical Pension updation along with wage revision of serviceemployees

Basic pension of all existing pensioners to be updated at the sameindex level like Basic Pay of service employees viz July-Sept.2012average.

DA on pension to be on monthly basis .

Same DA at 100% compensation for all pensioners and removal ofslab system.

Extending 2nd option facility to employees who resigned between 1995and 27.4.2010.

Qualifying service for full pension should be 20 years like in Govt/RBI;

Average of 10 months or last drawn ‘Pay’, ‘whichever is higher’ shouldbe considered for calculation of basic pension.

Service rendered in Defence, if not counted for Defence pension shouldbe added in bank service for payment of pension

Actual service of Part time employees should be counted for pensionand not on pro rata basis.

4- Family Pension :

To be improved at par with RBI/ Government pension scheme

88

Full pension as family pension for seven years or upto the age of 67years instead of 65 years,

Payment of Family Pension to unmarried/widowed daughters for lifeand if spouse and daughters are not available then to parents.

Incorporation of provision in Pension Regulation in synergy with Clause6 (b) 6 (c) and 6 (d) of settlement dated 10.4.2002.

Extension of Para-368(17) of Sastry Award to Pension Optees.

5 - Encashment of leave:

Encashment of Privilege Leave should be increased to 300 days. Wherethere is any shortfall under PL, Sick Leave to be allowed for encashment,if available.

Privilege Leave encashment to be permitted in case of loss of job dueto punishments/resignations.

Income Tax limit on exemption from leave encashment on retirementto be suitably amended.

Cost on superannuation benefits should be outside and over and

above the negotiated wage cost.

01. VOLUNTARY CESSATION FROM SERVICE:

Ø This Chapter needs to be deleted in view of court judgements

Ø Those who were removed from service under this clause to be extendeda chance to appeal.

Those who have been treated under this provision to be covered underpension scheme and pension to be sanctioned to them.

02. PART TIME EMPLOYEES

89

Permanent Part-time employees on Consolidated Wages prior to1.5.2010 and made 1/3rd wage from 1-5-2010 should be coveredby Pension Regulations and not under NPS.

Pension to be paid on actual total service and not on pro rata basis.

Improvement in fitment formula of part-time employees onenhancement to higher-scale/full-scale wages.

03. RETIRED EMPLOYEES

LFC and Hospitalization reimbursement should be extended to retiredbank employees.

Insurance cover to be provided.

Ex-gratia to pre 1986 retirees/widows to be revised.

Pension updation along with wage revision of service employees,revising the Basic Pension of all past retirees to the index point under10th BPS, uniform rate of DA for all pensioners and removal of slab DAsystem for past retirees, improvement in family pension etc on thelines of the Government/RBI scheme.

The percentage of allocation towards welfare schemes of retirees shouldbe uniformly defined.

04. STAFF WELFARE SCHEME:

The formula/quantum for allocation from profits for the Staff Welfare

Fund should be revised/increased.

05. GENERAL:

The Settlement should be effective from 1-11-2012

Settlement should be concluded within six months.

90

Unions reserve the right to alter, amend, add, delete or revise thedemands in due course.

91

Combined Charter of Demands Submitted by

ALL INDIA BANK OFFICERS’ CONFEDERATION [AIBOC]

ALL INDIA BANK OFFICERS’ ASSOCIATION [AIBOA]

INDIAN NATIONAL BANK OFFICERS’ CONGRESS [INBOC]

NATIONAL ORGANISATION OF BANK OFFICERS [NOBO]

SUPERANNUATION BENEFITS:

One of the salutary impacts of the 6th Pay Commission is the comprehensiveimprovements in the case of Pensioners and Family Pensioners in the CentralGovernment. The improvements made in the Pension scheme in the areaslike updation and upgradation of the Pension, the rationalization of DearnessAllowance, Family Pension etc., needs to be implemented in the bankingindustry as our pension scheme amply speaks of being in the lines of centralgovt. pension scheme

Part IV:    Superannuation – Pension, Provident Fund, Gratuity Etc.,  including all the benefits that are to be extended to retirees in the Banking Industry

SUPERANNUATION BENEFITS:

The employer has an obligation to ensure that the employees having servedthe institution almost life time are provided adequate superannuation benefitsso that they are able to live a life of dignity, honour and above all a comfortablelife for having given their blood and sweat to the institution.

The superannuation expenditure cannot be considered as a cost and be madesubject matter of negotiations. The compensation paid in the form ofsuperannuation have been described by the highest court of the country asdeferred wages paid to all those who served the institution with devotion andconviction for ensuring the prosperity, not only for the institution but thenation as well.

92

At present, the Banking Industry has provided for the benefit of Gratuity, theProvident Fund or Pension, Leave Encashment at the time of retirement,Medical facilities, and several other welfare facilities.

We strongly feel that there has to be an exclusive and a comprehensivedialogue between the Officers Organisations and IBA as to the improvementsthat are required to be made in the present superannuation benefits.

PENSION:

The Banking Industry has introduced the Pension Scheme with effect from1.1.1986 after protracted discussions and negotiations between the Officers’Organizations/unions and the Indian Banks’ Association in the year 1993. The Pension Scheme has remained as such since the beginning of the schemein the Banking industry.

The Government servants have seen two pay commissions during this periodand if we consider the date of implementation as 1.1.1986 there have been3 Pay Commission reports providing very comprehensive improvements inthe superannuation benefits to the civil servants in the Government.

The Pay Commissions have taken a very pragmatic view in the last 3 PayCommission Reports and have made very substantial changes in the scheme.There is a need to take the same view as regards the Pensioners in thebanking industry as well.

The periodical review of Pension scheme is the responsibility of theManagements of the Banks. It cannot be tagged to bipartite settlementswhich has adversely affected the pensioners and ultimately the pension schemeremain as an archaic one in the Banking Industry.  As and when there areimprovements in the central Govt. Pension scheme, the IBA should invite thenegotiating unions and implement the same

Pension consists of the following parts:-

a. Basic Pension

b. Commutation

93

c. Dearness Allowance

The Basic Pension is calculated on the basis of the last drawn 10 months’average pay by the retirees or the last pay drawn whichever is beneficial tothe retiree. The formula has remained the same.

The Government servants have been provided the benefit of updating ofpension at periodical intervals to provide sufficient cushion against inflationand cost of living.

Dearness Allowance be converted as Basic Pension as and when the cost ofliving index increases by about 50%. The Pensioner will therefore have thebenefit of enhanced Dearness Allowance and it provides a small cushion againstthe inflation.

The other method adopted by the Government is to bring all the pensionerson a uniform scale by merging the Dearness Allowance at the time of revisionas recommended by the Pay Commission. The facility of upgradation ofpension above the age of 80 years be made available to Bank Officers asprevalent in Government. We therefore suggest as follows:-

BASIC PENSION:

Improve the present Basic Pension in respect of all the earlier retirees on thebasis of the merger of Dearness Allowance at a level to be decided by mutualunderstanding between the IBA and the Officers’ organizations and unions.

COMMUTATION:

The present rate of Commutation has to be revised to 40% with the existingconversion factor. The full pension be restored after 10 years.

DEARNESS ALLOWANCE:

The DA formula and neutralization should be at par with serving officers.

GENERAL:

94

The voluntary retirement provided in the Officers Service Rules should beincorporated in the Pension rules and they should also be made eligible forPension without any discrimination.

Pension scheme should be extended to all those who have been denied earlieron the basis of the misinterpretation of the understandings reached with IBAin particular those who retired under voluntary retirement scheme as per theservice regulations / resigned after completing 20 years.

The officers who joined the bank between 01.11.1993 and 26.01.1996 haveto be covered under the pension regulations.

Provision of additional service as per the Pension Regulations to the extent of5 years should be extended to each and every retirees in the banking industry.

Those having relaxation of age at the time of recruitment on account ofdisability etc., also to be extended additional period of 5 years to his / herservice qualifying for pension.

Also, for Ex-servicemen their past services rendered in the Armed Forceshould be added to his / her service for qualifying for pension.

FAMILY PENSION:

The Family Pension should be on par with the Government and be at 30% oflast drawn pay by the officer across the board to every one. The regularfamily pension will be payable for 10 years or till the 70th year of notional ageof the deceased.

NEW PENSION SCHEME

The employees and officers who joined the banking industry on or after01.04.2010 should be governed by the original pension settlement signed on29th October 1993 and Gazetted in the year 1995.

GRATUITY:

The Gratuity should be paid at the rate of one month salary and allowanceswithout any ceiling. The gratuity should be completely exempt from paymentof income tax.

95

PROVIDENT FUND:

The Provident Fund should be at the rate of 12% of the total salary andallowances. The Provident Fund should be payable to all employees.

ENCASHMENT OF LEAVE:

Encashment of entire leave at credit should also be permitted on resignation,removal and compulsory retirement. 

The existing ceiling on encashment of leave should be enhanced to 360 daysat the time of resignation / superannuation. The entire amount should beexempted from income tax as in the case of the Central GovernmentEmployees.

 MEDICAL BENEFIT SCHEME:

A comprehensive Medical Scheme for pensioners/ retirees should be framedand introduced in all the banks as available now in the case of executivedirectors and CMDs of the Banks.

WELFARE ACTIVITIES:

A separate allocation of funds for improvements to welfare of the pensionersshould be made every year. The facilities like Holiday Home, clinics, TransitHouse etc., should be made eligible for pensioners also.

LFC/ HTC FACILITY:

LFC / HTC Facility should be extended to the retirees also at par with servingemployees.

VOLUNTARY RETIREMENT: 

Redefine the voluntary retirement and re-fix the minimum eligibility for thepurpose. 

96

AGE OF SUPERANNUATION: 

The age of superannuation to be raised to 65 years for all officers. 

WITHHOLDING OF GRATUITY ON RETIREMENT / RELEASE OFTERMINAL BENEFITS : 

The present adhoc system of withholding gratuity and harsh decision to setoff the gratuity amount towards loss caused etc., should be reviewed keepingin view, the recent judicial pronouncements. In any case, there should not bestoppage or denial of gratuity to the officers.

 No disciplinary action should  be initiated after superannuation.

All Terminal benefits should be released pending disciplinaryproceedings if bank fails to complete the proceedings beforesuperannuation as is being done in the case of CBI cases being pending.

WELFARE FACILITIES:

 CEILING :

Present Ceiling of 3% of net profits to be increased to 5% of net profitwithout any ceiling.

DATE OF RETIREMENT: 

Those who were born on the 1st of a month to be retired on the last day ofthe same month, and not the previous month.

THE LOAD FACTOR:

The negotiations on cost of salary revision should be confined only for thepurpose of deciding the load factor in respect of Basic Pay and DearnessAllowance.

DATE OF EFFECT: 

The date of effect for implementation of the settlement on the basis of thecharter of demands should be from 1.11.2012.

97

                        (P.K.SARKAR) (D.S. RISHABADAS) (S. NAGARAJ) CONVENOR GENERAL SECRETARY GENERAL SECRETARY UFBU AIBOC AIBOA

(K.K. NAIR) (S. U. DESHPANDE)GENERAL SECRETARY GENERAL SECRETARY

INBOC NOBO

Mumbai30.10.12

(xv) PROCEEDINGS AFTER RETIREMENT.

The provisions in the Service Rules that Disciplinary proceedings maybe continued after retirement of the officer was kept to take care ofthe situations where some fraud or gross misconduct is committedshortly before the superannuation of the officer. However, in practicethis provision is grossly misused and even abused to stall/ stop thenormal retirement of the officer by digging out some act of misconductcommitted years before the date of retirement and charge sheets areissued on the very eve of the actual retirement. Cases are not lackingwhere the alleged misconduct was discovered years before theretirement date but the proceedings like investigation, preliminaryexplanation etc proceed at snails pace and actual charge sheet isissued when the officer is on the eve of his retirement by invoking theprovision to keep him in bank’s service for the limited purpose ofcompleting the departmental proceedings. Resultantly, his retiralbenefits are withheld and the officer is made to undergo all sorts ofstigma and social ignominy. Out of sight is out of mind. Once theofficer is not on the rolls, the proceedings progress at even slowerpace and the officer keeps suffering for years on end. Governmentinstructions to put up such cases at least one year before retirement

98

and these should be subjected to quarterly review by an authority noless than the CEO himself are not being adhered to.

Recommendation

It should be clearly provided that this particular rule can not be appliedfor misconduct which is more than say one year old at the maximum.Further, this rule 19 (3), 20(3) in some banks should not be invoked inthe last quarter unless some fraud/act of misappropriation has beenunearthed. It should be further provided that if the proceedings arenot completed within three, or at the maximum six months of the dateof superannuation, the retrial benefits will be released. Even whenthis rule is invoked and officer is retained in service for the purpose ofcompletion of proceedings, the amount of leave encashment, which isnot a retrial benefit, should not be withheld. Further, such officers arebeing paid provisional pension so that the organization is not legallycalled upon to pay salary for the period, proceedings remain pending.Provisional commutation value should also be paid. Similar reliefshould be provided to officers who are not pension optees.

99

DEPARTMENT OF FINANCIAL SERVICESBOA SECTION

Statement of Net Profit of PSBs - March 2011 and March 2012(Rs. In crores)

SI.No. Name of the Bank1.2.3.4.5.6.7.8.9.

10.11.12.13.14.15.16.17.18.19.20.21.22.23.24.25.26.

Allahabad BankAndhra BankBank of BarodaBank of IndiaBank of MaharashtraCanara BankCentral Bank of IndiaCorporation BankDena BankIndian BankIndian Overseas BankOriental Bank of CommercePunjab National BankPunjab & Sind BankSyndicate BankUCO BankUnion Bank of IndiaUnited Bank of IndiaVijaya BankIDBI Bank Ltd.State Bank of Bikaner & JaipurState Bank of HyderabadState Bank of MysoreState Bank of PatialaState Bank of PatialaState Bank of Travancore

1423126742422489

330402612521413

6121714107315034433

5261048

9072082

524524

82641650

5511166501653728

44900

March 20111867124550072677

4313283

5331506

8031747105011424884

451131311091787

633581

117072032

6521298

369796510

49512

March 2012

100

DEPARTMENT OF FINANCIAL SERVICESBOA SECTION

Statement of Net Profit of PSBs - to the Government for the year 2010 - 11(Rs. In crores)

SI.No. Name of the Bank

1.2.3.4.5.6.7.8.9.

10.11.12.13.14.15.16.17.18.19.20.21.

Allahabad BankAndhra BankBank of BarodaBank of IndiaBank of MaharashtraCanara BankCentral Bank of IndiaCorporation BankDena BankIndian BankIndian Overseas BankOriental Bank of CommercePunjab National BankPunjab & Sind BankSyndicate BankUCO BankUnion Bank of IndiaUnited Bank of IndiaVijaya BankState Bank of IndiaIDBI Bank Ltd.

Amount of Total dividendpaid Govt. of India

165.73178.52368.41251.92

76.34330.00110.20173.39

42.54257.86203.77175.99404.25

51.34147.37128.26239.37

64.7768.77

1131.62224.45

4794.27

101

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103

ALL INDIA CANARA BANK RETIREES’ FEDERATION (Regd.)(Affiliated to All India Bank Retirees’ Federation)

“A.K.Nayak Bhavan”, 2nd Floor14, Second Line Beach, Chennai – 600 001

Ref No:17:2013 JANUARY 31, 2013

To: All Affiliates/Office Bearers/Central Committee Members

Dear Sir,

DEARNESS RELIEF TO PENSIONERS 67 SLABS MOREFROM FEBRUARY 2013. AVERAGE CONSUMER PRICE INDEX: 4976.05Retired on or after

01.01.86 but before01.11.92/01.07.93

Slabs over CPI 600:1094

Retired on or after01.11.92/01.07.93 but

before 01.04.98

Slabs over CPI 1148: 957

Retired on or after01.04.98 but before

01.11.2002

Slabs over CPI 1684: 823

Basic Pension

Upto Rs.1250

Rs.1251 toRs.2000

Rs.2001 toRs.2130

Above

Rs.2130

Amount

732.98%

Rs.9162.25+601.70%in excessofRs.1250/-

Rs.13675+361.02%inexcessofRs.2000.00

Rs.14144.32+185.98%inexcessofRs.2130/-

Basic Pension

Upto Rs.2400

Rs.2401 toRs.3850

Rs.3851 toRs.4100

AboveRs.4100

Amount

334.95%

Rs.8038.80/-+ 277.53%inexcessofRs.2400/-

Rs.12062.98+ 162.69%inexcessofRs.3850/-

Rs.12469.70+86.13%inexcessofRs.4100/-

Basic Pension

Upto Rs.3550

Rs.3551to Rs.5650

Rs.5651 toRs.6010

AboveRs.6010

Amount

197.52%

Rs.7011.96+164.60%inexcessofRs.3550/-

Rs.10468.56+98.76%inexcessofRs.5650/-

Rs.10824.09+49.38%inexcessofRs.6010/-

104

Retired on or after 01.11.2002 but before 01.11.2007

Slabs overCPI 2288

For the previous periodFrom Aug. 2012 to Jan. 2013

605108.9% of Entire Basic Pension

For the current periodFrom Feb 2013 to July 2013

672120.96% Entire BasicPension

Retired on or after 01.11.2007

Slabs overCPI 2836

For the previous periodFrom August 2012 to Jan. 2013

46870.2% of Entire Basic Pension

For the current period FromFeb 2013 to July 2013

53580.25% of Entire Basic Pension

Surviving Pre – 1986 Retirees

Slabs

1094

Rate & Amount of Dearness Relief

732.98% on Ex-Gratia Rs.300 = Rs.2198.94

Total Amount Payable

Rs.2,498.94

With Warm Greetings,

Yours sincerely,

(S.V.SRINIVASAN)GENERAL SECRETARY

Phone (R): 044 -24712681 Mobile:+91 94442 32867 E-Mail: aicbrf2010@gmail.comWebsite: www.aicbrf.in

105

APPLICATION FORM FOR ISSUE OF IDENTITY CARDS TO EX-EMPLOYEES

From To

__________________________ The Senior Manager/Manager,

Staff No. ______________ Canara Bank,

Designation ______________________ Staff Section (O)/(W),

Canara Bank, __________________________

__________________________

__________________________

Forwarded through:

Canara Bank,

__________________________

__________________________

Dear Sir,

Sub: Request for issue of Identity Card to me

Ref: HO Circular No.230/2004 dated 11.9.2004

This is to state that I have retired on superannuation/taken Voluntary Retirement/SpecialRetirement f rom the services of Canara bank on ____________ at our_____________________________________ Branch/Section coming under thejurisdiction of __________________ Circle/Wing.

I request you to issue me an Identity Card.

I hereby confirm that the said Identity Card shall be issued solely for the purpose of identifyingme as a retired employee of Canara Bank.

106

The details required are furnished as under:

1. Name & Staff No.

2. Date of Birth

3. Date of Retirement

4. Designation at the time of Retirement

5. Branch/Section from where Retired

6. Blood Group

7. Present Address

Encl.: Two latest stamp size photographsI request you to send the Identity Card to the above mentioned address.

SPACE FOR TWO SPECIMEN SIGNATURES

Signature of retired employee attested and application forwarded to HRM/SS(O)/SS(W)/SAS for Canara Bank

MANAGER/SENIOR MANAGER

Yours faithfully,

SIGNATURE

Place:Date: Signing Power No.

Branch / OfficeApplication is to be given to the Branch where the account is maintained/wherePension is drawn

107

HOLIDAY HOMES

Holiday Homes of the Bank are meant for authorised use of retiredemployees and their dependents duly accompanied by concernedemployees / retired employees. This facility can be availed by employeeswhile proceeding on LFC subject to availability of accommodationEmployees should carry identity cards/ identity letters, Duration ofstay shall be normally for 3-5 days and in any case, it should notexceed more than 10 days. Stay for part of the day is treated as onefull day. Advance booking will be made in respect of employeesproceeding on LFC / Leave on first come-first served basis. One roomper family will be the critieria for allotment. In a double bed roommaximum of 4 persons (2 adults and 2 children, age limit for childrenbeing upto an including 12 years) can be accommodated. 24 hourscheckin - checkout facility is available and part of the day is consideredas full day. Employees availing LFC will have preference over othersfor advance booking.

Employees have to forward the application indicating 2 or 3 convenientdates, through the Branch. They have to remit the room rent in advanceto the overseeing office to SL Accounts Payable - Holiday Home RentAccount. It is advisable to proceed only after receipt of confirmationfrom the overseeing branch / office.

Employees proceeding to Holiday Home without reservation may paythe rent by way of their personal cheque / DD favouring “CANARABANK A/C HOLIDAY HOME” for payment of rent.

Retired employees who wish to avail the facility should produce acertificate from the branch where she/he is enjoying preferential rateof interest on deposit/or maintaining his/her accounts to the effectthat he/she is a retired employee of our Bank. He may also carryIdentity Card issued by the bank upon retirement for identity.

Employees on LFC can book Holiday Homes 3 months in advance andemployees on leave / holiday without LFC and ex-employees retiredon superannuation can book the holiday homes one month in advance.

108

This facility has also been extended to ex-employees retired underVRS/ SVRS 2000 and their dependents (Ref. HO Memo 9/2005).

RENTAL STRUCTURE

(i) For employees and dependents eligible for reimbursement underLFC Rules :

The rental structure of holiday Homes has been retionalised w.e.f.1st April, 2003 and under

a) Rs. 30/- for individual per day.

b) Rs. 50/- per family per day per room provided with upto two beds.

c) Rs. 60/- per family per day per room eligible for reimbursement under LFC rules :

(ii) For dependents / close relatives not eligible for reimbursement underLFC rules:

a) In respect of Holiday Homes housed in bank’s own buildings,2 time the rentals applicable to employees.

b) In respect of Holiday Homes housed in leased outfits, 2 times the rentals applicable to employees, or actual paid whichever is higher.

c) In respect to Holiday Homes housed in hotels/ YMCA, the actuals paid by the bank.

(Ref. HO Memo 5/2003)

List of Holiday Homes and other details are as follows :

109

I. H

OLID

AY

HO

MES

OF O

UR

BA

NK

:

SI.

No

Plac

e &

Mem

o N

o.Addre

ss &

Tel

ephon

e N

o.D

etai

ls o

fAcc

omm

odat

ion

Over

seei

ng

Off

ice&

Tel

ephon

e

1.

2.

3.

4.

AG

RA

(Mem

o :

72/2

002)

BAN

GALO

RE

(Mem

o :

39/1

995)

CH

EN

NAI

(Cir

: 1

03/1

992)

DARJE

ELI

NG

(Mem

o :

48/1

997)

Hot

el S

war

ajya

Pal

ace

2/3

63 A

Mal

l Roa

dPr

atap

pura

Cro

ssin

gAdja

cent

to G

uru

jiM

otor

s AG

RA 2

82 0

01

Tel:

0562-2

364802

IV F

loor

, N

o.81/1

,Sou

th E

nd R

oad,

Basa

vanagudi,

Ban

gal

ore

- 560 0

04

Tel:

080-2

6910962

No.

10,

(I &

II

Floo

r),

Ren

gan

Str

eet,

T.N

agar

,Chen

nai

- 6

00 0

17

Tel :

044-2

4348182

Ros

e Ban

k, N

ear

Burd

wan

, M

ahar

aja,

Pala

ce,

Dar

jeel

ing -

734 1

01

Cel

l :09233524952

5 R

oom

s

7 d

ouble

roo

ms

10 r

oom

s 2

rese

rved

for

Exe

cutive

4 d

ouble

bed

room

s

P&

ESec

tion

Cir

cle

Off

ice,

Agra

Tel :

0562-

2855860

P&E S

ection

, Cir

cle

Off

ice,

Ban

gal

ore

Met

ro T

el:

08025586318

P&E S

ection

,Cir

cle

Off

ice,

Chen

nai

Tel :

044-

24349350

Sev

oke

Roa

dBra

nch

Sili

guri

Tel:

0353 -

2436139

110

SI.

No

Plac

e &

Mem

o N

o.Addre

ss &

Tel

ephon

e N

o.D

etai

ls o

fAcc

omm

odat

ion

Over

seei

ng

Off

ice&

Tel

ephon

e

5.

6.

7.

DELH

I (N

EW

DELH

I) (

Mem

o :

175/1

994)

Spl

.Com

: 1

2/9

5

GO

A(M

emo

: 371/8

7&

18/9

9)

GU

RU

VAYU

R(M

emo

: 14/2

003)

II F

loor

, N

o.5/8

Des

hban

dhu G

upta

Roa

d,

Pahar

gan

j,N

ew D

elhi -

110 0

55

Hot

el A

mey

a,M

.G.R

oad E

sten

sion

Opp.

St.

Inez

Churc

h,

Panaj

i, G

oa -

403 0

01.

Tel :

0832-2

226133

I st

Flo

or,

Poon

phan

am G

ues

tH

ouse

, Chaa

vakk

adRoa

d,

Wes

t N

ada.

Guru

vayu

r.Te

l :

0487 -

2556837

11 r

oom

s 2 r

oom

sre

serv

ed f

orExe

cutive

s

5 r

oom

s-

1 r

oom

s fo

rex

ecutive

s 4

dou

ble

bed

roo

ms

1 r

oom

s &

1ro

oms

with 4

bed

s

6 r

oom

s of

w

hic

hon

e fo

rExe

cutive

s

Pahar

ganj

Bra

nch

New

Del

hi

Tel :

011-

23588772

P&

ESec

tion

Cir

cle

Off

ice

Panaj

i, G

oaTe

l: 0

832-2

224254

2232726,

2420056

Guru

vayu

r Bra

nch

Thri

ssur

Dis

tric

tTe

l :

0487

2556380/

2556580

DP

Cod

e :

0838

111

8.

HYD

ERABAD

(Mem

o: 1

70/1

990,

27/1

994, 23/1

998)

Doo

r N

o.1.1

0.8

3/8

Flat

No.

2C,

2nd F

loor

,Pi

ne

Woo

d A

par

tmen

tsM

ayur M

arg,

Beg

aum

pet

Hyd

erab

ad-

500 0

16

Tel :

040 -

27760317

3 r

oom

sP&

ESec

tion

Cir

cle

Off

ice,

Hyd

erab

ad T

el:

040-

23436921

DP

Cod

e 7700

SI.

No

Pla

ce &

Mem

o N

o.

Add

ress

&Tele

ph

on

e N

o.

Deta

ils

of

Acc

om

modati

on

Overs

eein

gO

ffic

e&

Tele

ph

on

e

9.

10.

JAIP

UR

Mem

o :

69/2

004)

KAN

YAKU

MARI

(Mem

o :

413/1

987,

12/1

997)

Hot

el W

elco

me

9/1

,N

ew C

olon

y N

ear

Panch

Bat

ti,

M.I

.Roa

d,

Jaip

ur

- 302 0

01.

Tel :

0141-2

214402/

2372270

Can

ara

Ban

k H

olid

ayH

ome,

Gov

t. H

ospital

Roa

d, Kan

yaku

mar

i -

629 7

02

Tel :

04652-2

47549

5 d

ouble

bed

room

1 A

C r

oom

for

Exe

cutive

s

7 r

oom

s-

6 d

ouble

bed

roo

ms

& 1

Exe

cutive

ssu

it

P&

ESec

tion

Cir

cle

Off

ice

Jaip

ur

Tel :

0141

2363494/

2367595/

2376821

DP

Cod

e :

7425

Kan

yaku

mar

iBra

nch

Tel

:04652-2

46249 D

PCod

e :

1026

112

11.

12.

13.

KATRA

(Mem

o :

76/2

003)

KO

DAIK

AN

AL

LON

AVALA

/KH

AN

DALA

(Mem

o :

45/

1998)

Hot

el K

ashm

irRes

iden

cy M

ain R

oad,

Vai

shno

Dev

i, K

atra

-182 3

01 (

J&K)

Tel :

01991-2

32920

Lone

Sta

r, E

ure

tta

Lane,

Nea

r Pr

akas

hConst

ruct

ion

Obse

rvat

ory

Roa

d,

Kod

aika

nal

- 6

24 1

01.

Hot

el I

nn O

ne-

O-F

ive

Res

ort,

Fri

tchly

Hill

,M

um

bai

pune

Roa

d,

Nea

r Rah

eja

Res

orts

,Lo

nav

ala

- 410 3

02

Tel :

02114-2

72333

6 d

ouble

bed

room

s 1 r

eser

ved

for

Exe

cutive

s

4 d

ouble

bed

room

s

6 r

oom

s-

3 r

oom

s w

ith 4

bed

s &

3 r

oom

sw

ith 2

bed

s

Jam

mu M

ain

Bra

nch

Tel

: 0

191

- 2573107

2576622/

254362

DP

Cod

e :

Kod

aika

nal

Bra

nch

Din

dig

ul

Dis

tric

tTa

miln

adu -

624

101. Te

l :

04542-

242405

Lonav

ala

Bra

nch

Tel :

02114 -

273011

DP

Cod

e :

0273

SI.

No

Pla

ce &

Mem

o N

o.

Add

ress

&Tele

ph

on

e N

o.

Deta

ils

of

Acc

om

modati

on

Overs

eein

gO

ffic

e&

Tele

ph

on

e

113

SI.

No

Pla

ce &

Mem

o N

o.

Add

ress

&Tele

ph

on

e N

o.

Deta

ils

of

Acc

om

modati

on

Overs

eein

gO

ffic

e&

Tele

ph

on

e

14.

15.

16.

17.

18

MAD

URAI

(Mem

o :

16 /

1999)

MAH

ABALE

SH

WAR

(Mem

o :

85/2

003)

MAN

ALI

(MU

MBAI

Mem

o :

33/1

993)

MU

SSO

RIE

(Mem

o :

60/1

989)

Mee

nak

shi

Apar

tmen

ts,

No.

74,

Ram

nag

ar,

III

Str

eet,

Bye

Pas

s Roa

d,

Mad

ura

i -

625 0

10

Tel :

0452-2

302066

Sto

ne

Hou

se V

ishnu

Cot

tage

Mal

com

Pat

hM

alco

m P

ath

Mahabale

shw

No.

35,

Muku

nd N

ivas

,Fl

at N

o. 1

5&

16,

III

rdFl

oor, S

ion W

est,

Gre

ater

Mum

bai

- 4

00

022.

Tel :

022-2

4074749

Hot

el S

unny

cot,

The

Mal

l, K

ulr

i, M

uss

orie

-248 1

79

Tel :

01362 -

2632789/

2631840

9 r

oom

s 2 A

C r

oom

sre

serv

ed f

orExe

cutive

3 r

oom

s w

ith

trip

ple

occ

upan

cy

6 r

oom

s-

3 d

ouble

bed

roo

ms

& 2

roo

ms

with 3

bed

s 1

res

erve

dfo

r

4 r

oom

s-

2 r

oom

s w

ith 4

bed

s &

2

P& E

Sec

tion

Cilc

le O

ffic

e,M

adura

iTe

l :

0452-

2337060

P&

E S

ection,

Circl

e O

ffic

e, P

une

Tel :

020-

24452590

P&

ESect

ion,

Circl

e O

ffic

e,M

um

bai City

Tel :

022-

22185266

2218599

P&

E S

ection,

Circl

eO

ffic

e, D

ehra

dun

Tel :

0135-

2651139 F

ax :

0135-2

658752

114

SI.

No

Plac

e &

Mem

o N

o.Addre

ss &

Tele

phon

e N

o.D

etai

ls o

fAcc

omm

odat

ion

Ove

rsee

ing O

ffic

e&Te

lephone

19.

20.

21

22.

MYSO

RE

(Mem

o :

81/1

999)

NAIN

ITAL

(Mem

o :

162/1

991,

34/1

997)

OO

TY

(OTA

CAM

UN

D)

PU

RI

(Mem

o :

36/2

006)

689,

Dou

ble

Roa

d,

Opp.

Wat

er t

ank,

Tonac

hi

Kop

pal

,Sar

asw

ath

ipura

M/s

. H

otel

Shal

imar

, The

Mal

l,N

ainital

Tel

: 0

5942-

235432, 236567

No.

121,

Vijay

anag

aram

,Fa

rm R

oad,

Off.

Ett

ines

Roa

d,

Oot

y.

Hot

el R

oopam

,Bal

iapan

da,

Roa

dD

rive

, Pu

ri 7

52 0

02.

5 r

oom

s-

2 r

oom

s w

ith 2

bed

s/2 r

oom

s w

ith 3

bed

s &

5 r

oom

of

whic

h 1

for

exec

utive

s

8ro

oms

4 r

oom

s1 r

oom

for

exec

utives

P& E

Sec

tion

Cilc

le O

ffic

e,M

ysor

eTe

l : 0

821-2

44865

Fax

: 0921 -

2442217

Circl

eoff

ice

Deh

radu

nTe

l :

0135 -

2651139

Ooty

Bra

nch

Tel :

0423-

2444087/

2447155

Dp C

ode

: 1234

Puri

Bra

nch

Tel :

06752 -

223561 D

P Cod

e1439

115

23.

SH

IMLA

(Mem

o :

94/1

991,

107/1

993 &

23/9

6Cir

: 1

05/1

996)

C/o

.Sri.G

ain

Sin

gh,

Prim

e Ros

eN

o.1,

Nea

r Sun &

Snow

Hot

el,

Panch

ayat

Bhav

an B

us

7 r

oom

sShim

laBra

nch

Tel :

0177-

2802139

DP

Cod

e :

1964

TIR

UPA

TI

(Mem

o: 6

1/2

003)

TH

IRU

VAN

AN

TH

APU

RAM

(Mem

o N

o.20.1

998)

24.

25.

No.

52,

MIG

TU

DA

Plot

s, R

oyal

Nag

ar,

R.C

. Roa

d T

hir

upat

hi Te

l:0

877-2

243618

Mon

ydee

p S

RA 5

,San

ker

Lane,

Sas

tham

angal

am,

Thir

uva

nan

thap

ura

m -

695 0

10

6 d

ouble

bed

room

s 2

AC r

oom

sallotm

ent

4 d

ouble

ro

oms

Tir

upati

Bra

nch

Tel :

0877 -

2240211/

2242130

DP

Cod

e 1965

P& E

Sec

tion

Cir

cle

Off

ice

Triv

andr

um

Tel :

0471-

2331340 2

331051

DP

Cod

e :

7300

SI.

No

Plac

e &

Mem

o N

o.Addre

ss &

Tele

phon

e N

o.D

etai

ls o

fAcc

omm

odat

ion

Ove

rsee

ing O

ffic

e&Te

lephone

116

II. HOLIDAY HOMES OF CANARA BANK EMPLOYEES’ UNION

1. KODAIKANAL (TAMILNADU)ADDRESS : Prakside Bungalow,

Chettiar Road,Near Kurunji Andavar Koil,Kodaikanal - 624

ACCOMMODATION : 4 Cottages.

RENT : Rs.100/- per day.

FOR BOOKING CONTACT : Canara Bank Employees,Union(R.) Central Office,A.K.Nayak Bhavan,CHENNAI - 600 001.

CARE TAKER : Sri, Daniel

2. PANCHGANI (MAHARASHTRA)ADDRESS : Lake Wood Unit No. 503,

Panchgani, MahabaleshwarTaluk, Satara District,Maharastra State.

FOR BOOKING CONATANT : Canara Bank Employees’Union(R) “Susheela Bhavan”,24, Adi MarzhbanStreet, Ballard Estate,MUMBAI - 400 038.Phone. 22619547/ 22613679

117

III HOLIDAY HOME OF GOLDEN JUBILEE STAFF WELEARE FUNDADDREES : : 5/4-1, Canara Bank Colony

(LIC Colony), Ist Cross,3rd Block East Jayanagar,Bangolore, - 560 011.Phone : 080 - 22446115

FOR BOOKING CONTACT : 080-28392440SWF Section, HO, Bangalore 080 -25587040 (Extn.238)

118

REQUEST LETTER FOR BOOKING OF HOLIDAY HOME

FromNameStaff No.Designation :Canara Bank :Branch/ Office :Postal Address :

To.The Senior Manager/ManagerCanara Bank

Dear Sir,Sub : REQUEST FOR BOOKING OF HOLIDAY HOME AT..........

I request you to make available a unit of the above HolidayHome for a period of ................ days (Maximum 5 days). I furnishhere below the preferred date on which I require the Holiday Homeand also three other alternate dates in order of preference. You mayallot the Holiday Home for any one of the dates depending on theavailability of accommodation.

Preferred Date : From : ........................... To. ......................

Alternate Date I Alternate Date II Alternate Date III

From :................

To .....................

From :................

To .....................

Any 3 or 5 days duringmy leave periodFrom ......................To............................

The list of family members (if any) who would accompany me toHoliday Home is given bellow

Si.No. Name Sex Age Relationship

119

( ) I am availing LFC for the above, vide leave proceedings No........................................ dated ................. .

( ) I may be permitted to avail the facility of Holiday Home withoutLFC as I am availing other category of leave or on holiday.

( ) I confirm having remitted a sum of Rs. ................. towardsrent in Sundry Liabilities - Holiday Home Rent Account at.......................... Branch, DP Code ........................

( ) I may be permitted to avail the Holiday Home facility as I ama retired employee of the Bank. I will be remitting the HolidayHome rent by way orf DD/Pay Order or cash on the date of myvisit, if accommodation is provided to me.

( ) Tink whichever is applicable.

I hereby confirm that, particulars given, above are true to the bestof my knowledge and belief.

Yours faithfully,Place :Date :

CERTIFICATE BY THE BRANCH/ OFFICE

This is to certify that we have received a sum of Rs.................from the above employee for the period from ................. to................ at the rate of Rs. ................... per day towardsHoliday Home rent and credited the same to SUNDAY LIABILITIES- “Holiday Home Rent Account” at our end.

SIGNATURESENIOR MANAGER / MANAGER

Forwarded through the Branch / Office ..................................

For Canara Bank

(Manager / Sr.Manager)

Date :

120

MINUTES OF THE GRIEVANCE REDRESSAL CELL HELD AT HEAD OFFICE, BAN-GALORE ON 7TH DECEMBER, 2010

PRESENT:REPRESENTATIVES OF THE BANK:

1. SRI. A. K.NAHAR GENERAL MANAGER2. SRI.S.N. MUNSHI DEPUTY GENERAL MANAGER3. SRI D.R.DESHPANDE ASSISTANT GENERAL MANAGER4. SMT SULEKHA MOHAN DIVISIONAL MANAGER5. SRI NAIR AJIT KRISHNAN DIVISIONAL MANAGER

REPRESENTATIVES OF THE RETIRED EMPLOYEES’ UNIONS/ASSO-CIATIONS:

SL.NO. NAME OF THE UNION/ASSOCIATION REPRESENTATIVE

1. THE CANARA BANK RETIRED OFFICERS SRI K.B.BALLUR

ASSOCIATION PRESIDENT

2. ALL INDIA CANARA BANK RETIREES SRI S.V.SRINIVASAN

FEDERATION GENERAL SECRETARY

3. CANARA BANK RETIREES’ ASSOCIATION SRI V.K.M.VARMA

GENERAL SECRETARY

Sri A.K.Nahar, General Manager welcomed the Executive Director, the Rep-resentatives of the Retired Employees’ Unions/Associations to the InauguralMeeting of the Grievance Redressal Cell and requested our Executive Direc-tor to address the gathering.

Sri Jagdish Pai K.L.Executive Director while welcoming the representatives tothe Inaugural Meeting of the Grievance Redressal Cell expressed his happi-ness that Bank is initiating all poosible steps to redress the grievances of theretired employees. Further he has informed the forum that Canara Bank isone of the first Banks to disburse the Pension to the retired employees whoopted for the pension in terms of the new option.

With this the following agenda items were taken up for discussion

121

1. Evolving modalities and procedure for handling of grievances of theretired employees of the bank and redressal thereof:

The representatives of the Bank informed that in terms of theguidelines issued by the Government, a Grievance Redressal Cell hasbeen formed at Head Office with following Members:

i. General Manager, Personnel Wingii. Deputy General Manager/Assistant General Manager, Person-

nel Wingiii. Overseeing Executive of Canara Bank Employees’ Pension

Fund/ SPF & G Section

As per the Board permission, a Meeting will be held once in 6months with the Representatives of Unions/Associations of RetiredCanara Bank Employees. Further, Representatives of the Associations/Unions may discuss their grievances in the Grievances Redressal Meet-ing or may approach the Members of the Grievances Redressal Cell atany time.

2. Evolving Hospitalisation Scheme/Medical Insurance Scheme for thewelfare of the retirees of our bank:

The representatives of the Bank informed that as of now, a sumof Rs.1500/- is reimbursed to all employees retired on superannuationonly. Staff Welfare Measures Schemes are implemented in the Bank interms of guidelines issued by IBA as well as Government of India, andat present the allocation of the funds for each welfare measure is veryminimum. Further it is informed that in case, IBA or Government ofIndia is permitting to enhance the cap for over all allocation, theproposal of reimbursement of medical aid to all retirees irrespectiveof mode of exit and introduction of Hospitalisation Scheme/Medicalinsurance Scheme will be examined.

3. Expediting payment of pension arrears to the new pension opteesin 2010 :

The representatives of the Bank informed that steps are beingtaken to release the pension and pension arrears to all the retirees,who opted for pension now.

122

4. Engaging the services of retired officers to handle security, inspec-tion, income audit etc.

The representatives of the Bank informed that at present thereis proposal to engage retired officer employees of scale-III above asinquiring Authorities.

5. To streamline the payment of pension to ensure the credit of pen-sion on the due date itself. Direct credit to the Pension accounts shallbe introduced like the payment of salary to the serving employees.

The representatives of the Bank informed that steps are beinginitiated to make pension payment on due dates. Further informedthat starting from January 2011, pension shall be credited directly tothe accounts of the pensioners.

Further the forum discussed some other agenda items and it is agreedto finalize the date for next meeting after mutual consultation.

Sd/- Sd/- Sd/-A.K.NAHAR D.R.DESHPANDE NAIR AJIT KRISHNANGENERAL MANAGER ASST.GENERAL MANAGER DIVISIONAL MANAGER

123

MINUTES OF THE GRIEVANCE REDRESSAL CELL MEETING HELD AT HEADOFFICE, BANGALORE ON 20TH AUGUST, 2011

PRESENT:REPRESENTATIVES OF THE BANK:

1. SRI. A. K.NAHAR GENERAL MANAGER2. SRI.D.R.DESHPANDE ASSISTANT GENERAL MANAGER3. SMT SULEKHA MOHAN ASSISTANT GENERAL MANAGER4. SRI NAIR AJIT KRISHNAN DIVISIONAL MANAGER

REPRESENTATIVES OF THE RETIRED EMPLOYEES’ UNIONS/ASSOCIA-TIONS:

SL.NO.NAME OF THE UNION/ASSOCIATION REPRESENTATIVE1. THE CANARA BANK RETIRED OFFICERS SRI K.B.BALLUR

ASSOCIATION PRESIDENT2. ALL INDIA CANARA BANK RETIREES’ SRI S.V.SRINIVASAN

FEDERATION GENERAL SECRETARY3. CANARA BANK RETIREES’ ASSOCIATION SRI V.K.M.VARMA

GENERAL SECRETARY

Sri A.K.Nahar, General Manager welcomed all the delegates of Retired Employees’ Unions/Associations. While expressing his happiness in meeting the delegates of Reitred EmployeesUnion/Association, he explained about the importance of such meeting in providing a plat-form to discuss about the grievances of retired employees. He requested SriD.R.Deshpande, AGM to discuss on the Agenda items.

With this, the following Agenda items were taken up for discussion.

1. Introduction of a suitable scheme for the Medical Expenses and HospitalizationReimbursement.The Representatives of the Management informed at present the allocated fundsunder staff welfare measure as per Government guidelines is very much limited as

124

such it was informed that matter will be examined in case of enhancement in allocationfunds.

2. It is informed that Circles are furnishing the particulars of the retirees to concernedSections at Head Office with much delay. To monitor the above, a suitable forum maybe formed at Circle Offices so that the pending matters can be sorted out.The Representatives of the Management requested the representatives to bring spe-cific cases if any observed to the notice of the Management for redressal.

3. It is requested for expediting issuance of Pension Payment Order/Revised PensionPayment Order/Arrears Working Sheet-Wage Revision & Pension to the retirees.The necessary Pension Payment Orders and arrears worksheet are being provided.

4. It is requested for providing office space and STD/ISD facility at all important centres.The representatives of the Management informed that as of now there is no provisionfor such facility.

5. It is requested to introduce new schemes to retirees under Staff Welfare Measures.Further it is requested to enhance the present limits under reimbursement of medicalexpenses and to extend the facility to all retirees.The Schemes are formulated taking into consideration allocation of funds.

6. It is requested for Extension of additional interest of 1% for the ex-employees plus 1%additional interest for the Senior citizens, across the term schedule (deposits).The Representatives of the Management informed that the interest rate on deposits isfixed taking into consideration various aspects. Presently our rate of interest on depos-its is quite attractive. The information regarding rate of interest is already available onthe Bank’s website.

7. It is requested for making available the Printed Circulars/communications issued by theBank periodically to their AssociationThe Representatives of the Management informed that as of now printing of Circularshas been restricted to very few numbers and printing of Memos/Special Communica-tion has been completely stopped, since the same is available in Cannet. It is informedthat if any information about Circulars relating to benefit extended to retired employeesis required association can approach for such information.

8. It is requested for making available the Holiday Home facility to all the retirees on firstcome-first served basis and clause regarding booking of holiday homes in 30 days inadvance may be removed.The Representatives of the Management informed that the matter will be examined.

9. It is requested for Opening of clinics with a Doctor in attendance in all the Circles andmaking the facility available to all the retirees.The Representatives of the Management informed that the request is not feasible

125

GENERAL MANAGER ASSISTANT GENERAL MANAGER

presently considering the availability of allocated funds.10.It is requested for engaging the services of Retired Officers for Marketing of Bank’s

Retail Lending products, Home Loan Schemes etc and also for Inspection of securi-ties, Income Tax Audit, recovery etc.The Representatives of the Management informed that guidelines regarding engagingthe retired employees for Recovery purposes have been issued. Regarding the remain-ing issues the matter will be referred to the concerned.

11. It is informed that Bank is Initiating Disciplinary proceedings after retirement of Offic-ers from the service of the Bank.The Representatives of the Management informed that the action is taken in terms ofthe Regulations.

12.The Representatives of the Retired Employee’s Unions/Association requested forevolving modalities and procedure for handling of grievances of the retired employeesof the bank and redressal thereof.The Representatives of the Management informed that grievances if any may be taken-up with the Grievances Redressal Cell or members of the Cell at any point of time.

13. It is requested for enhancing quantum and ceiling of Canara Pensioner Loan Schemeto Rs.2,00,000/-The Representatives of the Management informed that the same will be referred to theconcerned for examining the same.

14. It is requested to make available the copy of bank’s in house publication “Shreyas”and “Vishranthi” to all the retirees on their residential addresses.The Representatives of the Management informed copy of “Vishranthi” is available inthe website and further will explore the possibility of sending the same through emailwherever the emain address is given.

15. It is requested to extend the pension benefits to resigned employees.The Representatives of the Management informed that Bank is paying pension in termsof Canara Bank Employees’ Pension Regulations, 1995.

16. It is requested for providing adequate representation of retired Unions/Association inGrievance Redressal Cell Meetings.The Representatives of the Management informed that the Competent Authority haspermitted one Office Bearer from each Association with minimum membership strengthof 1000 to be represented in the Grievance Redressal Meeting and which is adequate.

Sd/- A.K.NAHAR Sd/-D.R.DESHPANDE

126

MINUTES OF THE GRIEVANCE REDRESSAL CELL MEETING HELD ATHEAD OFFICE, BANGALORE ON 15TH SEPTEMBER, 2012

PRESENT :

REPRESENTATIVES OF THE BANK :

1. SRI A V HEBBAR DEPUTY GENERAL MANAGER

2. SRI D R DESHPANDE ASSISTANT GENERAL MANAGER

REPRESENTATIVES OF THE RETIRED EMPLOYEES’ UNIONS / ASSOCIATIONS:

SINO. NAME OF THE UNION / ASSOCIATION REPRESENTATIVE

1.

2.

3.

THE CANARA BANK RETIRED OFFICERS’ACCOCIATION

ALL INDIA CANARA BANK RETIREESFEDERATION

CANARA BANK RETIREES’ ASSOCIATION

******

Sri. A. V. Hebbar, Deputy General Manager welcomed all the delegates ofRetired Employees’ Unions / Association. While expressing his happiness inmeeting the delegates of Retired Employees Union / Association, he explainedabout the importance of such meeting in providing a platform to discussabout the grievances of retired employees. He requested Sri D.R. Deshpande,AGM to discuss on the Agenda items.

With this, the following Agenda items were taken up for discussion :

1. Reimbursing Medical Expenses annually to all retiress regardless ofmode of exit from the Bank’s service and modifying submission ofclaims directly to pension receiving branch instead of Circle Officeconcerned.

The Representatives of Management informed that Bank haspermitted Reimbursement of Medical Expenses to employees whohave opted for VRS/SVRS and have reached the age of 60 yearsalong with employees who have retired on supernnuation. However,

K.B.BALLURPRESIDENT

S.V.SRINIVASANGENERAL SECRETARY

V.K.M.VARMAAGENERAL SECRETARY

127

as regards the request for submission of claims directly to Pensionreceiving branch, it was clarified that the existing system i.e.reimbursement from the Circle where he/she retired is being followedfor administrative reasons.

2. Evolving Hospitalisation Reimbursement Scheme for the welfareof Retirees of our Bank.

The Representatives of Management informed that Mediclaim Policymay be obtained by Retired Employees and the amount of Rs.2,000/- will be reimbursed under Staff Welfare Measures this year.

3. Considering annual allocation of minimum 25% of the amount ofStaff Welfare fund to be utilised exclusively for the welfare of retiredemployees of our Bank.

The Representatives of Management informed that due to inclusionof VRS and SVRS employees of above 60 years of age, the expectedexpenditure under this head may be approximately Rs.3.00 croreunder Staff Welfare Measures this year.

4. Reckoning the period served by PTEs (with Staff Number while onconsolidated payment) who are eventually absorbed as PTEs in timescale of pay as qualifying service for pension in terms of provisionsof Bi- Partite Settlement.

The Representatives of Management informed that now there isno concept of consolidated wage PTEs. Earlier there was nodeduction of PF from the consolidated wage of PTEs. Hence, theperiod cannot be reckoned for the purpose of pension as pensionRegulations does not provide for the same.

5. Fixing correct Basic Pension by taking into account Temporary /Special / Officiating Pay paid to the employees during the last 10months of their service.

The Representatives of Management informed that fixing of BasicPension is done by taking into account all allowances ranking for PFduring the last 10 months of their service. However, individualcases may be referred to pension Fund to look into the same.

6. Paying correct amount of Gratuity by taking into accountTemporary, Special and Officiating Pay paid to employees duringlast 12 months of their service.

The Representatives of Management informed that calculation ofGrautuity is being done as per norms.

128

7. Relaxing repayment period of Canara Pension (Loan Scheme )to 60 EMIs in respect of those who are not more than 65years of age and 48 EMI for those above 65 years of age.

The Representatives of Management informed that the matterhas been referred to concerned Wing for examining the same.

8. Extending preferential rate of interest of Term Deposits for allmaturities to Exemployees - cum - Senior Citizens.

The Representatives of Management informed that the matter isreferred to concerned Wing for examining the issue.

9. Expenditing issuance of Pension Payment Order / Revised PensionPayment order / Arrears Working Sheet - 9th BPS Wage Revision tothe retirees.

The Representatives of Management informed that the issuance ofPPO is uptodate. Revised PPO in respect of 9th BPS Revision will beissued within next 3 months.

10. Granting Festival Advance equal to one month’s gross pension toretired employees of our Bank recoverable in 10 equal monthlyinstalments.

The Representatives of Management informed that as perGovernment guidelines, only existing employees are eligible for festivalAdvance.

11. Codifying concessional facilities to retirees in respect to variousbanking and other services.

The Representative of Management informed that the same willbe examined.

12. Paying Pension to Pensioner’s on the last working day of the monthinstead of 1st of the succeeding month.

The Representatives of Management informed that as per PensionRegulations, Pension is to be disbursed on or after 1st of followingmonth.

13. Imparting training to retiring employees so as to acquire holisticapproach to post-retiral life and also to wealth Management.

The Representatives of Management informed that Training isimparted to select employees on the verge retirement to preparethem for holistic approach to post retirement life and also on wealthemanagement.

129

14. Releasing booklet on various monetary and non - monetary benefitsavailable to retired employees of our bank.

The Represetatives of Management informed that the matter willbe examined.

15. Booking of Bank’s Holiday Homes one month in advance for theretirees of our Bank.

The Representatives of Management informed that as per theexisting guidelines, Retired Employees can book Holiday Home onemonth in advance.

16. Providing adequate representation to the retiree’s organisations inthe Grievance Redressal Cell meetings.

The Representatives of management informed that the matter willbe examined .

17. Denying Performance linked Cash Incentive to business performers.

The Representatives of Management informed that the performancelinked cash incentive is being given as per HO Cir No.06/2007.However, individual cases may be referred to concerned Circles.

18. Waiving requirement of copy of cessation proceedings while claimingmedical reimbursement and permitting submission of claims by theretirees upto 31.03.2013 instead of 28.02.2013.

The Representatives of Management informed that the date is fixedas 28.02.2013 to bring uniformity in the date. However, regardingwaiving of requirement of copy of cessation proceedings while claimingMedical Reimmursement will be looked into.

19. Paying Pension the those SVRS pension optees who have completedmore than 19 years and 6 months of service as 20 years of qualifyingservice for pension instead of 19 years.

The Representatives of Management informed that details regardingindividual cases may be furnished.

20. Waiving Service Charges by the Bank in respect of booking /cancellation of train tickets through IRCTC.

The Representatives of Management informed that the above chargesare charged by Service Providers and waiver of same is not possible.

21. Evolving a comprehensive Group Health Insurance Scheme for allthe Retirees.

130

The Representatives of Management informed that the matter wasdiscussed with various Insurance Companies and the InsuranceCompanies had informed that per employee premium would not beless than Rs.8800/- for a Policy of Rs.2,00,000/- which is very muchon higher side compared to Canara Mediclaim. Under Staff WelfareMeasures this year, Bank is reimbursing for Mediclaim policy obtainedby Retired Employees to the extent of Rs.2,000/-

22. Making available the clinic facility available at Head Office or CirlceOffice, to all the retirees.

The Representatives of Management informed that the Dispensaryat HO / CO is availed for Retired Employees also.

23. Furnishing a comprehensive Pesion payment order incorporatingthe details such as name/s persons eligible for family pension, amountof basic family pension, date of restoration of the commutationamount, details of handicapped / disabled children i.e. son or daughteretc.

The Representatives of Management informed that existing PPO isalready revised with addition of certain important information,including the items suggested and same has been provided toHRMS Help Desk to update in Pension Package.

24. Engaging the services of the Retired Officeres for inspection ofsecurities, income audit etc.

The Representatives of Management informed that the suggestiongiven above will be forwarded to concerned Wing to examine thesame.

25. The various court cases decided in favour of the employees onthe basis of legal facts, the Bank should implement orders of thebench instead of challenging or contesting the case in the SupremeCourt in the background of the National Litigation policy evolved bythe Supreme Court.

The Representatives of Management informed that the orders ofthe Court are analysed, and decisions are being taken.

(Sd.) A.V.HEBBAR

DEPUTY GENERAL MANAGER

(Sd.) D.R.DESHPANDE

ASSISTANT GENERAL MANAGER

131

LIFE CERTIFICATE

Certified that I have seen the Pensioner

_____________________________

(Name of the Pensioner) holder of Pension Payment OrderNumber

_______________________

and that he/she is alive on this date.

Pensioner’s Account No.

 

*Signature of the Officer 

Name

Designation

PLACE:

DATE: Seal:

(Once a year in the month of November)

132

NON-EMPLOYMENT CERTIFICATE

I declare that I have not accepted any commercial employment aftermy retirement from the service of the Bank. I have noted to obtainprior permission from the Bank in the event of accepting any commercialemployment within two years from the date of retirement from theservice of the Bank. Further, I undertake to report any re-employmenttaken up by me promptly to the branch through which I am drawingpension & Canara Bank (Employees’) Pension Fund.

SIGNATURE OF THE PENSIONERNAME:

STAFF NO:

DESIGNATION AT THE TIME OF RETIREMENT:

BRANCH/OFFICE FROM WHICH RETIRED:

PLACE:

DATE :

OR

RE-EMPLOYMENT CERTIFICATE

I declare that I have accepted commercial employment after obtainingprior sanction from the Bank and none of the conditions attachedthereto by the Bank has been violated (copy of the letter of permissionsanctioned by the Bank duly attested enclosed.)

SIGNATURE OF THE PENSIONERNAME:

STAFF NO:

DESIGNATION AT THE TIME OF RETIREMENT:

BRANCH/OFFICE FROM WHICH RETIRED:

PLACE:

DATE :

133

SUB : MEMENTOS TO RETIRING EMPLOYEES ON SUPERANUTION

******

We are pleased to inform that the Board of Directors have permitted tointroduce a Scheme for presenting Mementos to retiring employees onSuperannuation in recognition of their services to the Bank. The details arefurnished here below :

1. All employees who retire on superannuation on or after 31/10/2011 shall only be eligible under the Scheme.

2. Any other mode of exit from the Bank other retirement on attainingage of superannuation is not covered under the Scheme.

3. The HRM / HOSA / SAS as the case may be, after ensuring that anemployee is eligible for memento under the scheme and thatthere is no pending / contemplated Disciplinary Action against him/her, permit the employee by addressing a letter, to purchase a giftarticle of his /her choise cleary indicating that Bank will bereimbursing upto Rs.10000/- against bill, on the day of hisretirement. A copy of this letter shall be marked to Branch / Officewhere the retiring employee is working. The Branch shall ensurethat the letter so received from the HRM is served on the retiringemployee against the acknowledgement.

4. On receipt of the said letter, the retiring employee shall purchaseany gift article of his choice as Memento. He/ She shall bring thememento to the Branch / Office along with the original bill forreimbursement on the day of superannuation. The Memento soprocured shall be presented to him / her on the day of superannuationin recognition of his/ her services to the Bank.

EXTRACT OF BANK’S CIRCULAR 350/2011 DATED 29.11.2011

134

5. Those who have already retired on superannuation on or after31.10.2011 and before the date issuance of this Circular, may becalled to the branch / office where he / she was last working andthe Memento may by presented as per this Scheme.

6. The Branch / Office shall verify the original bill and keep a copy ofthe bill duly countersigned by the retiring employee and a Manager/ Official of the Branch / Office for having verified the original fortheir records. The Branch / Office shall debit General ChargesMiscellaneous and credit the eligible amount to the operativeaccount of the retiring employee.

7. The Branch/ Office along with the record of “exit-interview” shallalso send a confirmation having presented the memento to theretired employee and the information regarding details ofreimbursement to the HRM / HOSA / SAS as the case may be.

8. The HRM/ HOSA / SAS shall maintain the details of these cases andthe amount of reimbursements made in the form of running register.

9. It shall be the responsibilty of HRM / HOAS / SAS to ensure that alleligible retiring employees are presented with the memento underthe Scheme.

10. It is clarified that, the Officer Employees who were / are due forretirement on or after 31.10.2011, however, invoked with Regulation20 (3) (iii) of Canara Bank (Officers) Service Regulations, 1979 mayalso be given with the Memento not on the date of superannuationbut on the disposal of departmental proceedings provided theyare not imposed with the punishment of “Dismissal” Removal” or “Compulsory Retirement”.

11. Workmen Employees who are dismissed / discharged / removed /compulsorily retired on account of any disciplinary action are notcovered under the scheme.

12. Officer / workmen Employees terminated from the services for anyreason are not covered under the Scheme.

This contents of this circular may be circulated amongst all theemployees of the Bank.

A.K.NAHARGENERAL MANAGER

135

SERVICE CHARGES FOR RETIRED/EX-EMPLOYEES AND OTHERSELIGIBLE FOR PREFERENTIAL RATE OF INTEREST ON DEPOSITS

In terms of the Compendium of instructions/Guidelines on Service chargesthe facilities detailed as below were permitted to retired employees of ourBank without levying Commission, Postage and Other charges.

Issue of DDS/ Pos/ TTs. (However for TTs, telegram charge shall belevied.)

Collection of all Outstation and Local Instruments, Deposit Receipts,Transfer of Deposit Accounts, provided the instruments in questionare drawn in their favour (not endorsed in their favour)

Discounting of Instruments drawn in their favour (not endorsed intheir favour as per laid down norms. (applicable to employees only).

Cancellation of DDs issued to them. Issue of Duplicate DDs, Pass Books, Pass Sheets and Deposit

Receipts Collection/ Purchase of Foreign Currency Instruments tendered by them

provided the instruments are drawn in their favour. This also coversForeign Inward remittances expressed in Indian Rupees. (Purchase ofForeign Currency instruments is applicable to employees only.)

Processing Charges for Loans/ Advances granted to them (except HLunder RBI Scheme)

Ledger Folio Charges for Overdraft Accounts Charges for carrying out Standing Instructions Appraisal Charges in respect of Gold Loans Safe Custody Charges in respect of approved securities pledged for

Loans/ Advances MICR Cheque Charges In respect of cheques/DW/IW in favour of retired employee’s spouse,

collected and credited to retired employee’s joint account, thecommission may be waived, if the account is eligible for preferentialrate of interest on deposits. However, for instruments drawn on otherbanks, charges levied by other banks are to be borne by retirees.

With the advent of CBS, the facilities of Internet Banking facility, AWB/ CBSservices NEFT/RTGS Transactions have commenced and the Bank has advisedas detailed below into the list of services for which service charge need notbe levied for staff members/eligible retirees:

AWB/CBS services for Intracity Transaction(Remittance of cash, cashwithdrawal, Fund Transfer, Clearing and Issue of DDs) and Intercitytransaction (Remittance of cash, Cash withdrawal, Funds Transfer forall SB/CA/ODD/ OCCA/cs, Deposit of cheques at drawee centres,Issue of DDs, OSC, Cash handling charges)

136

RTGS/NEFT Transactions Internet Banking No service charges for services availed under Core Banking Intra and

Inter city transactions (Viz. Cash remittance, Cash withdrawal, FundsTransfer, OSC etc) for staff members.

No service charge for RTGS/NEFT transactions for staff members. If all the members of the Cooperative Society/Union/Association are

staff members of the bank and the account is eligible for preferentialrate of interest on deposits, the facilities as extended to staff membersmay be extended to such society etc.

In case the Ex-employee is utilising the facility (DDs/TTs etc. ) forbusiness purpose and transactions are too frequent, branch can levynormal service charges.

For all other items of service, normal charges as applicable to customersshall be levied by the Bank.

Extracted from HO Circular Nos:125/1988, 1/1989, Compendium as on30.09.2001, 7/2011 and 385/2011

FACILITIES TO EX-EMPLOYEES

1. Ex-employees retired on superannuation/Voluntary Retirement/SpecialVoluntary Retirement Scheme and their dependents are eligible forHoliday Home Facility. (Rental structure as applicable to servingemployees.)

2. Identity cards are issued to Ex-employees retired on Superannuation/Voluntary Retirement/Special Voluntary Retirement Scheme.

3. Retention of PF Settlement amount with the Fund: Retiring employeescan retain the Provident Fund Settlement amount partly/fully with theFund. This has to be intimated in writing before the settlement is made.The retained amount will earn interest, as applicable to regularemployees and can be withdrawn in one stretch at any time by theretiree’s request.

4. Continuation of Limits & Liabilities: Continuation of limits/liabilities ofthe employees after their retirement (including voluntary retirement)may be considered/permitted by the bank, subject to the same termsand conditions as applicable to customers by the Competent Authorities,after duly assessing and satisfying about their repayment capacity.

5. Tenability of Overdraft limits/liabilities sanctioned to the Ex-employeesof our Bank for the purpose of personal requirements against theapproved securities shall be for a period of 2 years from the date ofsanction.

6. TA/HA for attending Court, Enquiry etc. on behalf of the Bank: As perextart guidelines, whenever Ex-employees are called for to attend

137

the court, enquiry etc. on behalf of the bank, they are eligible to claimreimbursement as follows:

a) Fare for travelling by mode and class of transport for which theywere eligible before ceasing to be employees of the bank;

b) Local conveyance, if eligible for the cadre/grade of the Ex-employee;c) Halting Allowance, as permissible immediately prior to the date of

cessation of bank’s service.7. Reimbursement of Rs.1,500/- to all superannuated retirees.8. Dispensary Facility:

a. Retirees can avail the facility of dispensaries functioning at Head Officeand Circle Offices.

b. Treatment and medicines will be provided for minor health problems.

9. Lending of Library Books from Head Office, Bengaluru Library:

This facility is restricted to retired employees residing in Bengaluru. Only two books at a time will be issued. A book can be retained for a maximum period of 2 weeks, where

after it has to be returned to the Library. Renewal will be done on exceptional cases and is subject to the

condition that there are no indents for the books from others.

10.Facilities to the Nominee/Legal Heirs of deceased employee:

Payment of PF, Gratuity, Pension and Encashment of PL upto 240days shall be as per Rules.

Golden Jubilee Staff Welfare Fund (SWF) has Death Relief Scheme topay Rs.8,000/- towards Funeral Expenses of deceased SWF member.

Further, scholarship of Rs.200/- to Rs.500/- per annum dependingon the class of study, is being paid by the SWF to the children ofdeceased SWF members continuing their education.

Death Relief under Staff Welfare Measures will be released in the eventof death of an employee in service, provided the insurance coverageis not available as per the GPAI Policy.

Payment of lump sum Ex-gratia amount to the dependents/legal heirsof the deceased employees, subject to fulfilment of eligibility norms.Maximum amount payable:

Sub Staff: Rs.6,00,000/- Clerks: Rs.7,00,000/- Officers: Rs.8,00,000/-

138

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140

CANARA BANK EMPLOYEES’ PENSION FUNDHuman Resources Wing, 14, Naveen Complex, H.O. Annexe, M.G. Road, Bangalore - 560 001.

Phone: 080-25323801, 25584040-Extn. 265, Email: hopenfund@canarabank.com

CHECKLIST FOR FAMILY PENSION (Death while in service)

For HRM Section, CO:

1. Ensure that a copy of the Death Certificate is attested and enclosed.2. Ensure Contact phone number of Applicant is furnished3. Ensure PAN Number of Applicant is furnished4. Ensure Applicant’s signature is duly attested/witnessed5. Ensure 3 photos are attached6. Ensure 13 digit SB A/c number of the Applicant is furnished7. Ensure Office Note recommending family pension is attached8. Ensure to attest the photo of the Applicant.9. Ensure that Date of death as per Death Certificate is correctly marked in HRMS.

CHECKLIST FOR FAMILY PENSION (Death after Retirement)

For Pension disbursing branch:

1. Ensure that a copy of the Death Certificate is attested and enclosed.2. Ensure Excess pension paid from the next date of death till the last date of payment

is recovered and credited to Pension Fund’s CASA A/c 07921110342303. Ensure Contact phone number of Applicant is furnished4. Ensure PAN Number of Applicant is furnished5. Whether any loan availed by the Pensioner is outstanding in the branch?6. Ensure Applicant’s signature is duly attested/witnessed7. Ensure 3 photos are attached8. Ensure 13 digit SB A/c number of the Applicant is furnished

141

CANARA BANK EMPLOYEES’ PENSION FUNDHuman Resources Wing, 14, Naveen Complex, H.O. Annexe, M.G. Road, Bangalore - 560 001.

Phone: 080-25323801, 25584040-Extn. 265, Email: hopenfund@canarabank.com

FORM OF APPLICATIONFOR GRANT OF FAMILY PENSIONON THE DEATH OF AN EMPLOYEE / PENSIONER

(To be submitted in duplicate)

1. Name of the Applicant

2.

3. Landline with STD codeMobile

4. PAN No. (in capital letters)

5. Email id

6. Relationship of the applicant withthe deceased Employee / Pensioner WIDOW / WIDOWER/ SON /

DAUGHTER

7. If the Applicant is a minor, nameof the Guardian

NATURAL GUARDIAN (Father or Mother)/LEGAL GUARDIAN (appointed byCourt)(In case of Legal Guardianship attestedcopy of Court Order to be enclosed)

Space for affixingattested passport size

photograph

Full PostalAddressof Applicant

PhoneNo.

Nature of Guardianship8.

142

Details of surviving widow / widower and children of the deceased Employee / Pensioner :

Sl.No.

Name Relationshipwith the deceasedEmployee /Pensioner

Date ofBirth

MaritalStatus

If employed, nameof the Employer &salary drawn p.m.(only in case whereSon / Daughter isthe Applicant)

123456

a. Name

b. Staff Number

c. Designation at the time of death

d. Date of death

e. Branch/Office in which last worked

f. Circle Office

g. Whether Ex-servicemanh. Details of liabilities of the deceased

pensioner, if any, at Pension disbursing branch

YES / NOLiabilityA/c No.

11.

9.

10. Details of the deceased Employee / Pensioner :

Enlcosures (tick whichever is applicable)

a. Attested copy of death certificate

b. Attested copies proof of Date of birth of children

c. 3 passport size photographs of Applicant & Guardian

(wherever applicable) in addition to 2 affixed to the application

d. Certificate of Re-marriage / Marriage

e. Attested copy of the Military Pension PPO

f. Declaration for opting for family pension

g. Declaration of Employment (where applicant is Son / daughter

143

12 Details of applicant’s Individual A/c at Canara Bank:

SB A/c No.Branch

Place :

Date :

Signature of the Applicant(Left hand thumb impression in case of illiterate)

Attested by:

Name Designation Full Address Signature

i)

ii)

Witnesses:

Name Designation Full Address Signature

i)

ii)

NOTE:Attestation and witness should be by an Officer of Canara Bank or a Gazetted GovernmentServant or two respectable persons in the Town/Village where the applicant resides.

144

Application forwarded to Employees’ Pension Fund for sanction of Family Pension

Remarks if any :

Manager / Senior Manager

HRM, CO ....................................

(In case of death while in service)

Manager / Senior Manager

Pension Disbursing Branch ............................

(In case death after retiement)

DECLARATION REGARDING RE-MARRIAGE / MARRIAGE

I hereby declare that I have not got re-married as on date and I undertake to report suchan event promptly to the Canara Bank (Employees’) Pension Fund / Canara Bank branchthrough which I am drawing family pension. (Applicable only to unmarried children)

I declare that, to the best of my knokwledge and belief, the above is correct.

Place :

Date :

Signature of the Applicant

(Left hand thumb impression in case of illeterate

Name : ___________________________

Attested by:

i)

Name Designation Full Address Signature

NOTE :

Attestation should be by an Officer of Canara Bank or a Gazetted Government Servantor a respectable person in the Town/Village where the applicant resides.

145

I. Sri/Smt…………………………………….………………………….... Son/Daughter of late

Sri/Smt………………………….……………….. hereby declare that I have beenemployed

in M/s…..………………….………………….………………….………………….…..……

………………………….………………….………………….………………….……………

(Name of the Employer & address)

as ….…………….……..…. (designation) drawing Rs…………….…. as salary permonth.

OR

II. I am Self-employed and earning Rs …………………………. ……… as income permonth.

I declare that, to the best of my knowledge and belief, the above are correct.

Place :Signature of the Applicant

Date : (Left hand thumb impression in case of illiterate)

146

CANARA PENSION

Canara Bank has been a pioneer in implementing various social welfare schemesand extending financial assistance to the needy for social upliftment. In the 50th

anniversary of Indian Independence a loan scheme for the benefit of senior citizenswas introduced and the scheme has now been renamed as “Canara Pension”.

1. Purpose: To meet the cost of medical expenses and other genuine personalneeds of the pensioners.

2. Eligibility: The following types of pensioners who are drawing their pensionthrough our branches are eligible for financial assistance under the Scheme:

a.) All Central Government pensioners (Viz: Central, Civil, Railways,Defence, Armed Forces, Defence Civilians and FreedomFighters etc.)

b.) All State Government pensioners.c.) Pensioners of all Government Department undertakings.d.) Pensioners of all Public Sector Undertakings/Corporate

Pensioners.e.) Family Pensioners of all the above categories.f.) Pensioners of Bank.

3. Sanctioning Authority & Quantum of Loan:

a. Branch-in-charge is the sanctioning authority.b. 15 months pension amount subject to a maximum of Rs.2,00,000/- (For

Retired Canara Bank Pensioners)c. Branches/Offices may permit loans under this Scheme within their

delegated powers as per “Delegation of Powers.”.

4. Security:

a.) Loan to Pensioner: Co-obligation of the spouse (wherever thereis a provision for family pension) or any other person, if necessary,may be stipulated by the sanctioning authority.

147

b.) Family Pensioner: Third party guarantee/coobligation should beobtained invariably

5. Rate of Interest: As advised by H.O. from time to time. Presently 14% p.a.(EMI for a loan of Rs.1,00,000/- at 14% with repayment period of 3 years is aboutRs.3418/-)

6. Processing Charges: Processing Charges are waived in respect of the loansunder this Scheme.

7. Repayment: To be repaid in 36 equated monthly instalments (EMIs)

8. Documentation:

a) NF 965 – Loan Application (Retail Lending)b) NF 991 – Take Delivery Letter to DPNc) Irrevocable Mandate.d) Particulars of the loans granted should be noted

invariably in the Pension Register and SB Master in thesystem of the concerned borrower to ensure promptrecovery of loan instalments.

e) Production of bills/vouchers is not mandatory.

9. Reporting/Monitoring: Disbursement performance and overdues should bereported in PSR – 71 (monthly). Overdue accounts should also be reported in SpecialWatch Statement, besides account by account review through RLMS package.

10. Classification: Non-Priority – Clean. All other guidelines detailed undercommon guidelines are to be adhered to .

148

ALL INDIA CANARA BANK RETIREES’ FEDERATION (Regd.)(Affiliated to All India Bank Retirees’ Federation)

“A.K.Nayak Bhavan”, 2nd Floor14, Second Line Beach, Chennai – 600 001

Dearness Relief on Pension gone upsince its introduction in 1993 BASE 1960 = 100

YEAR

Novmber, 1993February, 1994February, 1995February, 1996February, 1997February, 1998February, 1999February, 2000February, 2001February, 2002February, 2003February, 2004February, 2005February, 2006February, 2007February, 2008February, 2009February, 2010February, 2011February, 2012February, 2013

AVERAGEPRICE

INDEX

121612961480157217161812213621442208231223962476258027122896305633683816416845194976

INCREASE INSLABS

-2033363624812162621202633464078112616067

DA RATE – % 1ST SLAB

(OVER 600 POINTS)

103.18116.58138.69162.81186.93203.01257.28258.62269.34272.69300.83314.23331.65353.76384.58411.38463.64538.68597.64655.93732.98

The DR which was 103.18% in November, 1993 when the Pension scheme wasintroduced has gone up to 732.98% now. Thus when prices are soaring high, a

monthly income linked to cost of living index is the best option.

Phone (R): 044 -24712681 Mobile:+91 94442 32867 E-Mail: aicbrf2010@gmail.com

149

CANARA BANK NEW PENSION OPTEES – 18.11.2010

SL.No.01020304050607080910111213141516171819202122232425262728293031323334353637

NAME OF CIRCLEAGRAAHMEDABADBANGALORE METROBANGALORE RURALBHOPALBHUBANESHWARCALICUTCHANDIGARHCHENNAICOIMBATOREDEHRADUNDELHIGOAGULBARGAGUWAHATIHUBLIHYDERABADJAIPURKARNALKOLKATALUCKNOWMADURAIMANGALOREMEERUTMUMBAIMYSORENAGPURPATNAPUNERANCHISHIMOGATIRUCHIRAPALLYTRIVANDRUMVISAKAPATNAMP M SECTION, H OH O S A SECTN, H OS A S, INSPN WINGG R A N D T O T A L

ELIGIBLE RETIREES

00880119044701260019005101470108026501100027025200820022000901180190001500570159003701820237002508220108004300320166002000710112018800800347014100965118

PENSION OPTEES

00640106041100590013003301170069019900920020019800790019000301030165001200420119002601260194001407090099002700220149001100590079014800620309009600894142

FAMILY PENSIONERS

004005016005002004005009014009010022005002002007011001008010006008013001031005005010028002007011013004001003002301

150

1995 – 1996 01133 0000 01133

1996 – 1997 02143 0617 02760

1997 – 1998 02728 0825 03553

1998 – 1999 03171 0978 04149

1999 – 2000 03653 1109 04762

2000 – 2001 04109 1224 05333

2001 – 2002 09263 1398 10661

2002 – 2003 09269 1526 10795

2003 – 2004 09271 1726 10997

2004 – 2005 09312 1909 11221

2005 – 2006 09355 2081 11436

2006 – 2007 09431 2264 11695

2007 – 2008 09706 2447 12153

2008 – 2009 10091 2659 12750

2009 – 2010 10530 2818 13348

2010 – 2011 15820 3088 18908

2011 – 2012 17845 3749 21594

REGULARPENSIONERS

FAMILYPENSIONERS TOTAL

Sl. No.1234

CANARA BANK PENSIONERS STRENGTH AS ON 31-01-2013

Year

Total Number1913640144414523339

CategoryRegular PensionersFamily PensionersEx-Gratia RecipientsFamily Ex-Gratia

As of now the total out-go of funds per month is around 32 crores (This willgo on increasing every month commensurate with the increase ofpensioners and also half-yearly revision of Dearness Relief)

Total

CANARA BANK PENSIONERS STRENGTH AS ON 31-01-2013 - INCREASING TRIBE

151

CANARA BANKHEAD OFFICE : BANGALORE

APPLICATION FORM FOR CLAIMING MEDICAL EXPENSESBY RETIRED EMPLOYEES

From: (Present Address) To:

Name & Staff No.......................................... The Senior Manager/ManagerCanara BankDesgn.................………………………………….. HRM Section............................................................……. ..................................................................……………………………………..Sir,

In terms of Memo No.58/2012, I have incurred a sum of Rs..............(Rupees………………...............................................only) towards cost of medicalcheck up medicines/Premium towards Canara Mediclaim Policy/MediclaimPolicy.

Date of joining the Bank :Mode of exit :Date of Cessation :(Copy of cessation proceedingsto be enclosed)Date of birth :Age as on 01.04.2012 :Name of the Branch/Office :where last worked

152

In case, it is reimbursement claimedTowards premium of Mediclaim :Policy, following details be furnished

Canara Mediclaim/MediclaimPolicy Premium paid details :[Ensure that the Policy is takenand renewed during 01.04.2012 to31.03.2013].

Copy of the Premium Paid Receipt/ :Mediclaim Policy

I request you to sanction me a sum of Rs.2000/- and credit the same to the belowmentioned account.

ACCOUNT : SB/OD No. ..........BRANCH : ..................DP CODE NO. : ................I am Pensioner/Non-pensioner (Tick whichever is applicable).(If Pensioner, also inform the Account Number and the name of the Branch throughwhich the pension is drawn).

Yours faithfully,DATE:

SIGNATURE

153

COMMUTATION TABLECommutation values for a pension of Re. One per annum

Age nextbirthday

Commutation valueexpressed as numberof year’s purchase

Age next birthday Commutation valueexpressed as numberof year’s purchase

17181920212223242526272829303132333435363738394041424344454647484950

19.2819.2019.1119.0118.9118.8118.7018.5918.4718.3418.2118.0717.9317.7817.6217.4617.2917.1116.9216.7216.5216.3116.0915.8715.6415.4015.1514.9014.6414.3714.1013.8213.5413.25

5152535455565758596061626364656667686970717273747576777879808182838485

12.9512.6612.3512.0511.7311.4211.1010.7810.4610.139.819.489.158.828.508.177.857.537.226.916.606.306.015.725.445.174.904.654.404.173.943.723.523.323.13

Notes:-(1) The Table above indicates the commuted value of pension expressed as number of years’ purchase with reference to the age

of the pensioner as on his next birthday. The commuted value in the case of an employee retiring at the age of fifty eight yearsis 10.46 years’ purchase and, therefore, if he commutes rupees one hundred from his pension within one year of retirement, thelumpsum amount payable to him works out of Rs.100X10.46X12 = Rs.12,552.

(2) An employee who had commuted the admissible portion of pension is entitled to have the commuted port ion of the pensionrestored after the expiry of a period of fifteen years from the date of commutation.

154

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Life after Retirement

“I wake up early in the morning to realize that, it s not the usual day.I am retired. I don’t know how to spend the day. I pass some timewith the newspaper and the rest watching TV till then my grandkidscome back from school. I plan to go out with the family, but everyoneis tired and they have their own set of works to do. I have no other go,but dig myself into those philosophical books. The day is over and Iam back on my bed to welcome another day of loneliness, loss,frustration, and grief”.

This is the life after retirement, as Richard Armour Quotes, “Retiredis being twice tired, I’ve thought, First tired of working, Then tired ofnot.” Studies show that high percentage of people die during theirfirst year of retirement. One of the reasons being, psychological trauma.A sense of feeling that you’re a worn out individual and should beplaced in the corner of the house sitting idle most of the time.

This period of life can be made fun and worth living to explore theunexplored. There may be times in your life when you wanted to learnto play golf or wanted to write a book on your experience and learning,or wanted to learn salsa. But your desires were never fulfilled, becauseyou were too busy at work or family. This is the right time to exploreyour hidden talents and fulfill your deepest desires.

Let not age make you surrender to its oddities. Soar and fly. Beginyour life anew in its own colours. Retirement is the respect given toyour years of service. But if you don’t want to sit and rest why notexplore and say “here life I am back like a Phoenix. Ready to go.” Livethe life that you’re worth living, afterall, ‘Age is a state of the mind.’

“You are not old until you have lost All Yor Marvels” - AnonymousWhatever your years there is in every being’s heart the love of wonder,the undaunted challenge of events, and an unfailing child like feel orwhat next” on the job and in the game of life. “You are as young asyour faith, as old as your doubts; as young as your self confidence, asold as your fear; as young as your hope, as old as your despair. In thecentral place of your heart, there is a recording chamber. So long as

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it receives messages of beauty, hope, cheers, and courage, so longare you young” Retirement can be an exciting but may present newproblems and challenges some may feel stressed changes in personalrelationships spending more time together with a partner; or maybea loved one has fallen ill or passed away Retirement is a poorlyunderstood life event which often signals the onset of old age.

Adjustment may be difficult for many reasons, there is little empiricalsupport for the view that retirement results in premature physicaland/or psychological deterioration. Coping Flexible individuals whohave derived satisfaction from many sources throughout life will dobest in retirement. People who are rigid and for whom work providesan identity may be expected to experience difficulties. Everyone isrequired to work to earn one’s livelihood. But a time comes in a person’slife when he or she has to retire from active work. The age for retirementis either set by the organisation whether government or private or theperson has to voluntarily retire after a certain period of active life. Aperson needs rest after the hectic activities which kept him engagedthe most period of his life. The mind and body both need the rest whena person becomes old. Therefore the government and the privateorganisations fix the age of retirement of a person which usuallyranges between 55 – 60 years. It is more or less depending on thetype of the occupation a person is engaged in. Some people even optfor voluntary retirement if such a provision exists in the serviceconditions of an employee. The defence forces have different periodsof retirement for its personnel depending on age and the rank whicha person holds. But retirement from active working lives is a must foreveryone at some or the other point of life.

Retirement is one of the important life events many of us will everexperience. From both a personal and financial viewpoint, realizing acomfortable retirement is an extremely wide procedure that takessensible planning and years of perseverance. Even once it is reached;managing your retirement is an ongoing responsibility that carries wellinto one’s golden years. In this article we will discuss few things aboutretirement planning that will help you in making proper decision onyour retirement planning.

Retirement is an inseparable phase life, and this is the most crucial

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stage of human life cycle. People have different kinds of needs indifferent phases of life; it changes according to age, income, lifestyle,etc. Generally we can say that a person has five types of needs suchas;

Physiological Safety and security Social Esteem Self actualization

These needs differ from people to people, as we have already mentionedthere are many factors that determine peoples need. For example;need of a teen ager is entirely different from that of an aged person.Aged people have social and security need. It does not mean thatthey had not felt this need before; they had felt it and had satisfied ittoo. But with the passage of time they spent the major portion of theirearnings either in their children‘s education, in building a home, fortheir parents‘ health, etc. At the end of the day they forget to keepaside a part of their earning to fulfill their post retirement needs. Thissituation is common in most of the Indian homes.

WHAT TO DO WE NEED TO PLAN OUR RETIREMENT?

Why is this question that has bothered you? Or like everybody whofollows the media think that you should have retirement plans wellfunded so that you can retire‘ at what ever age? Let us look at theIndian situation. Most Indian men will not know what to do once theyretire. They have no hobbies, and cannot help around the housewithout creating a fuss or a mess. The women suddenly have too muchof the husband and too little of the earned income. Terrible combination,right? Thus we have to plan our retirement in advance other wise afterretirement our life take a different turn and we are in a paradox.

Enjoy it, don‘t endure it It‘s really about choices, says Alan Furnish,course leader at the Teachers‘ Retirement Agency. There are hundredsof routes to choose from because there is no one way to spendretirement.

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WHY DO WE NEED TO PLAN OUR RETIREMENT?• While in active service we get used to a particular life style. Everyonewants to maintain lifestyle more or less in the same way even afterretirement. In addition, one would like to spend his free time afterretirement in occupations and hobbies which could not be attended toeffectively during the active working life. Every one of us has hobbieslike gardening, pet keeping; photography etc. which will be requiringmore of one’s attention after retirement. One might feel like to travelextensively during the retirement period. Some people must have builta farm house away from the hustle and bustle of city life and mightwant to shift to that farm house of their dreams.

• After retirement some of us might engage ourselves in selfemployment occupations like starting a poultry farm, running a schooletc. Some might become busy with their social club activities andsome others might take up one or the other social service activities.Some people might want to pass their time among their grandchildrenand would feel pleasure in playing with them, leaving and pickingthem up from schools on a regular basis. A person who had beenactive throughout his youth and middle age might feel a big void in lifeif one does not take up some or the other activity to keep oneself busyafter one retires from active work. This feeling might make a personfeel restless. But most important of them all is the financial planningfor retirement life if one wants to enjoy one or the other activitymentioned above.

AFTER RETIREMENT FINANCIAL PLANNING IS A MUSTTO SPEND HAPPY RETIREMENT LIFE.

• It has been generally observed that we hardly think of planning aretired life when we are very young and are fresh in our jobs. We do notplan our savings for retirement during early periods of our lives. Weonly get busy in planning our regular monthly budgets of income andexpenditure and do not think that we have to leave the active jobssomeday resulting in a sudden stop of our regular income. The thinkingof saving for retirement does not somehow enter our young minds.

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Even after retirement, it is of utmost necessity that we plan investmentof our retirement funds like provident fund and gratuity in such a waythat we keep on getting a regular income to pass our retired lifepeacefully and comfortably. This is all the more important because wehave to select and plan from scores of investment opportunitiesavailable to us to use our funds effectively.

• Some of us become unlucky victims of the circumstances and lose ourentire retirement benefits to some tricky persons and companies.When quite a lump sum of money is in your hands after retirement,some of your relations and friends might play with your emotions andmight coax you to lend them money or invest in some promising ventureswith higher rates of interest or returns. You may not only lose yourinterest but also the entire principal amount in some cases. So onehas to be very cautious to never lend money or venture into somepartnerships. One may come across some chit fund and deposit takingcompanies promising higher returns on your investment in them. Theretiree persons have to be very careful and should never invest theirhard earned money in such companies. Thousands of such companiesin India were closed down when Nonbanking Financial Companies(NBFCs) were regulated by the Reserve Bank of India in 1997.

• Financial planning is of utmost necessary from the early periods ofemployment especially by the employees who are in the private sectorand are not likely to get retirement benefits like provident funds,gratuity or pension. It has been observed that employees engaged incommunication technology in privately managed companies gethandsome salaries but do not get any retirement benefits. Even theemployment is also not of permanent nature. It is very essential forsuch employees to save a large portion of their present income fortheir future.

SOME GUIDELINES AND TIPS FOR RETIREMENT PLANSThere are some points that you need to know and follow before youreach the retirement age. This will help you to lead a comfortable postretirement life without facing any financial problems.

1. Prepare a Balance sheet of yourself2. Review your savings and borrowings

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3. Prepare a budget & review it4. Assess your life insurance needs5. Eliminate unwanted expenses6. Consult a Planner to plan your investments7. Create a portfolio using the Right Financial Ingredients8. Have a review of your Investment Mix9. Invest for Income10. Set Aside Emergency Funds

1. Prepare a Balance sheet of yourselfWe recommend you to prepare a balance sheet of yours, showing yourassets and liabilities. The very objective of this is to determine yournet worth. Assets include personal possessions of value, such as;a. Cashb. Real estatec. Investmentsd. Liabilities are;e. Your debtsf. Legal obligationsYou can prepare your balance sheet by using a spreadsheet, this willhelp you in determining your net worth and to plan your finance.

2. Review your Savings and BorrowingsIt is very important to have a close eye on your Savings and Borrowings.It’s a fact of financial world that the cost of borrowings is always morethan earnings from savings. For instance; if you take personal loanfrom a bank, they will make you to pay 12-18% annual interest. At thesame time if your investing in bank they offer you 7-10% annualinterest. So it is always better to clear off the debt if you have cash tospare.

3. Prepare a Budget & Review itRetirement is the period during which you will not work. So it is necessaryto prepare a paper budget or spending plan to update yourself aboutwhat your actual living expenses will be once you are not working.Every person will have two kind of expenditure Fixed & Variable. If thisvariable expenditure is more, we mean to say that most of yourexpenditure can be controlled if you wish to do so. There are someexpenses that go away once you are not working, like travel, food,

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dress, etc. Food costs may go down if you used to eat lunch at house.So think before taking any decision related to expenditure, a wisedecision can save you from losing money unnecessarily. Avoidunnecessary expenditure and accumulate a portion of this towardsyour post retirement expenditure. The following aspect too should belooked into while preparing your finacial needs.

a. Years after retirementLife expectancy is the expected period of your life. The differencebetween retirement age and expected life is the period during whichthe company has to pay your annuity. If the years after retirement aremore, you need to pay more premium/ contribution.

b. Annual income at retirement ageWhile going with a retirement plan you should consider your income atthe time of retirement (no doubt it will be more than your presentincome) because as the income increases your standard of living alsowill increase. So try to choose an annuity that will help you to continueyour life with same standard of living.

c. Rate of return on retirement corpusBefore investing in a retirement plan, consider the rate of return providedby the plan. Because investing in a place that is not able to generatedecent returns will not help you to continue the same standard ofliving after retirement.

d. Inflation rateInflation is the factor that decreases the value of money. So be smartenough to choose an investment that provides you more return tocover the threat from inflation.

4. Assess your life insurance needsEvery person should have life insurance cover so that their family willbe in a safer side if anything wrong happens to you. Term and lifeinsurance are two important types of insurance that can cover the riskof your life. If you are planning to go for a life insurance once you are50 or more, it will cost you more. So it is always better to have a lifeinsurance cover when you are young. Most of the life insurance companiesare offering Retirement Plans, if you are going for a retirement plan, it

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will help you to replace your salary once if you are retired. If the rightdecisions are made when electing your pension options, your spousewill be able to continue the pension. Term insurance is generallyrecommended for young people who have debt, dependents and fewassets. However, a life insurance policy may be necessary for estateplanning or other purposes. There are so many types of insurancepolicies that fulfil your different needs. You have to think and choosethe right one that can fulfill your needs.

5. Eliminate unwanted expensesExpenditure heads should be identified and also given proper attention.Always make sure that you are eliminating unnecessary expenditure,including your children‘s educational expenditure. The time to fundyour children’s college educations is when they’re small and not whenthey are Graduating and you are counting down to retirement. As wehave discussed already, list out the expenditure according to priorityand avoid all possible expenditures.

6. Consult a Planner to plan your InvestmentsMost of the times people feel difficulty in planning their finances. Soit is better to consult a financial planner for guidance. An efficientfinancial expert can get a comprehensive perspective on your wholefinancial situation and determine if everything is in order and you arereally prepared to face retirement. He can guide you from re-evaluatingyour portfolio to your investments structure.

7. Create a portfolio using the Right Financial IngredientsMost of the studies done on retirement planning had proved that alarge percent of people allocate their money to just one single fund.Another major percent of people allocate their money to only twofunds. Only a small percentage of the people understand the importanceof diversifying their funds. Use of diverse mix of funds or multipleingredients will help you to achieve your investment goals.

8. Have a review of your Investment MixWe will understand this point with the help of an example; if yourmusic player is too loud, do you throw it out the window? Of coursenot! You simply adjust the volume and get it back to a tolerablelistening level. The same applies to your retirement plan. Instead ofdropping your plan into the garbage, get an acceptable mix of

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investments that match your risk tolerance and financial goals.9. Invest for IncomeYou may have built up a sum of money in the bank, from the sale of aproperty or by investing wisely. Yet at some point, it will be importantfor you to actually see the benefit of your hard work. You may thenneed to consider changing your investment strategy from ‘growth’ to‘income’. In order to achieve better returns you may have been happytaking a risk with some of your money. But can you now afford to losewhat has been taking you years to build up? Investing for incomegenerally means taking a lower risk and seeing the benefit each monthor each year in the form of an income payment. Ultimately, it’s yourmoney and you should enjoy it!

10. Set Aside Emergency FundsBefore reaching your retirement age you need to make sure that youhave set aside sufficient funds for unexpected costs. This buffer willensure that you avoid using assets allocated for income or growthpurposes. As a general rule of thumb, we suggest saving about threeto six months worth of expenses for your emergency fund. Emergencycan be anything like your car repairs, dental work, or travel expensesfor a family member’s illness or death. Make sure your emergency fundis liquid. Remember to replace emergency funds as you use them.

SOME SAFE FINANCIAL INVESTMENT OPTIONS WHILEWORKING OR AFTER RETIREMENTThere are scores of financial plans available from many banks, insuranceand other public limited companies offering schemes of deposits andinsurance including pension plans. One has to prudently select theseplans keeping in view the risk of the investment involved and thereturns expected from these plans. It is always advisable to consultfinancial planners if we do not ourselves have much knowledge aboutthese plans. However, the plans of the government organisations likethe Post office savings plans and the public sector banks are saferthan the others. We give here below the list of the saving schemesoffered by the Indian Postal Services of the government of India.

Govt. of India Post Office Savings Account (POSA) – The investors willget interest @ 4% per annum. The depositor can invest any amount

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without any limit.Govt. of India Post Office Recurring Deposit (PORD) Scheme – Interestrate for this scheme is 8% per annum compounded and payable onmaturity period of 5 years. There is no limit on maximum amount ofdeposit.

Govt. of India Monthly Income Scheme (MIS) – Interest rate is 8.5%per annum with a lock-in period of 5 years. One can deposit up toRs.4.5 lakhs in a single account and Rs.9 lakh in a joint account. Asthe name indicates, the interest is credited into the savings accountof the depositors every month. For this purpose, a separate PostOffice Savings Account has to be opened by the depositor of MISscheme. There is no income tax exemption on the interest earned.

Govt. of India Post Office Time Deposit (POTD) Scheme - The timedeposit scheme is for the periods of 1 year to 5 years. The interestrate range for 7 to 8% depending upon the tenure.

There is no maximum limit for deposit. Maximum amount of Rs.1 lakhis exempted for deduction under Section 80C of the IT Act 1961 alongwith other deposits/ investments.

Govt. of India National Savings Certificate (NSC) (VIII Issue) – Theinterest rate per annum under this scheme is 8.6% payable on maturity.The tenure of the deposit is 5 years and the principal along withaccrued interest is repaid on maturity period of five years. The deductionup to a maximum amount of Rs.1 lakh is allowed under Section 80C ofthe Income Tax Act 1961 along with other deposits/ investments.

Govt. of India Senior Citizens Savings Scheme (SCSS) - Interest underthis scheme is 9.3% per annum payable on maturity with a lock upperiod of 5 years. Maximum limit of deposit in both the single andjoint accounts is Rs.15 lakh. Benefits of Income Tax under Section 80Cof the IT Act 1961 are also available under this scheme up to maximumdeduction of Rs.1 lakh along with other deposits/ investments.

Govt. of India Public Provident Fund (PPF) Scheme – The tenure of thisscheme is 15 years and the interest rate is 8.8% per annum payableon maturity. Maximum deposit limit in a financial year is Rs.1 lakh.

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Income Tax benefits under Section 80C of the IT Act 1961 is availableup to a maximum deduction of Rs.1 lakh along with other deposits/investments.

Govt. of India National Savings Certificate (NSC) (IX Issue) – Thetenure of this scheme is 10 years and the interest rate is 8.7%payable on maturity. Income Tax benefit up to total deduction of Rs.1lakh from income is available under section 80C of the Income Tax Act1961 along with other deposits/ investments.

Besides, the above schemes offered at the post offices throughout thecountry, several public sector banks offer varying rates of interest onfixed deposits for the periods ranging from 6 months to five years andabove. Depending on the tenure of the deposit and the bank in whichthe deposit is held, the interest rates vary from 7% to 10% perannum. The rates of interest are not uniform in all the banks. So, theprospective depositors must verify the rates of interest and comparethem with the rates prevailing in other banks before making a deposit.Several banks offer 1% additional rate of interest to the senior citizens

Insurance companies like the LIC, ICICI Prudential, HDFC StandardLife, SBI Life, Kotak, MetlIfe, Bajaj, Reliance etc. offer various schemesof retirement plans which one can go through and compare on theofficial websites of these companies. The comparison is also offeredon various other financial websites on internet.

HEALTH TIPSMost of us pray for a long life that is healthy and free of disability ordisease. But with the aging, our body becomes weak. We see seniorsevery day whose health is being impacted by such issues as multiplemedications and illnesses. However, it is not necessary to spend theretirement days in bed or hospital. For living a healthy senior lifestyleit is essential to take care of one’s diet, physical and mental fitness.There are simple changes that you can make in your life to slow downthis process. Obstacles to proper diet, including emotional, lifestyleand physical factors, crop up as we age. But here are ways you canovercome them:

Good nutrition:

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Select high-fiber foods like whole-grain breads and cereals, beans,vegetables, and fruits. Cut down on refined foods like refined flour(maida) products and refined sugar. This will make you feel better,lessen fatigue and improve your sleep no matter what your age is.Limit how often you have high-fat and high-sugar snacks like cake,candy, chips, and sweetened soft drinks. Decrease your salt andsodium intake.

Hydration:Proper hydration will not only keep your body functioning efficientlybut will also aid in digestion and preventing constipation. Stay hydratedby either drinking water or water-based beverages like soup, fruitjuice, tea, coffee and skim milk. In addition to drinking enough watereach day, aim to consume foods with a high water content like grapes,cucumbers, onions, apples, cabbage etc.

Extra Calcium:There is a continuous loss of bone calcium, especially in women, dueto the change in hormone levels. Try to get required amount of calcium(1200 mg per day for 50+ year old people) by consuming calcium richfood like milk, broccoli, beans and almonds. If you think you are notgetting enough of calcum through food, talk to your doctor aboutcalcium supplements. This will keep you away from Arthritis andOsteoporosis.

Exercise:As we age, our muscle mass tends to diminish. Keeping up musclemass is important for a better metabolism, strength, mobility, andindependence. Incorporation of daily exercise in your life is the besthealth tips for old age and it will make you feel just like a youngster.It can reduce your risk for medical conditions like heart disease, arthritis,diabetes and osteoporosis. Go for a walk with a friend, ride a cycle,even if it’s only for 15 minutes. Another component of fitness isperforming 30 to 45 minutes of strength training twice a week. Thiswill not only keep you strong for your daily activities but will alsodecrease your risk of injury and age-related diseases such asosteoporosis.

Engage yourself:Factors like seclusion, depression and low income affect health in old

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age. So it is important to keep yourself busy and entertained withsome kind of social activity like social service, clubbing or pursuing ahobby.

Be Social!Old age in India can be quite difficult to adapt to for Indian men andwomen. Most Indians would like to continue living a healthy lifestyleand life despite their age, which is where these tip come in. Thesetips and recommendations are meant for senior citizens in India tolead a healthy, independent life:

Think young!Shed off your years by thinking younger – people who maintain ayoung, fresh outlook towards life are better equipped to handle thetrials of one’s elder years. Stop troubling yourself with your growingage, instead, move on with everything that comes with the soothinglifestyle of old age.

Medical check ups:Get yearly health checkups. This is the only way you will know ifsomething is wrong or not. So, get checked out and fix whateverproblems you have before they get worse. Also remain up to date withyour immunizations.

Mental exercises:Working out your brain is needed on a regular basis to improve memoryand mind clarity both short term and long term. Stimulate your mindand memory daily for an all around better life. This will also preventfrustration and depression from creeping in and taking away your mentalpeace. Share your life experiences and talents with others. Volunteerto mentor young people or tutor college/school students.

Avoid smoking:Even occasional smoking has been proved to be detrimental to thehealth of your heart. Apart from the many health hazards, smokingcontributes to the fine wrinkling on your face.

Think positive:Visualization can help you keep moving in the right direction. Spendsome time everyday thinking about the good things of your life. Remind

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yourself of those things on a daily basis so that you remain happy.When things get bad, count your blessings. A positive attitude makesyou healthy! Most importantly, senior citizens should remember that itis relatively easy and worth-while to maintain a healthy lifestyle asthey age. Implementing the above activities into your daily life willkeep your body and mind fit, allowing you to age gracefully.

Pets can be very fulfilling.Whoever realized that dogs are man’s best friends, certainly was notkidding about it. Get yourself a pet; any pet will do. Dogs can be greatto walk with, while cats are moody companions on the sofa and bed.Remember – animals have feelings too, and a relationship with themcan be just as fulfilling.

Live an active lifetyle.Leading an active lifestyle that keeps you preoccupied is highly advisablefor elderly men and women in India. Make sure that you‘ve off meetingyour friends and family often. Socializing is important to keep themind’s machinery well oiled.

Begin your memoirs.Take not of all the good and bad moments in your life, and begin to penyour memoirs. You don‘t have to even consider getting it published –it can just be an intimate reading for your friends, family, and lovedones. There is no better chronicle of life!

Learn YogaYoga is great for elderly Indian women and men. It helps them toloosen their muscles, and helps them to be healthy. Include meditationfor a daily workout that is both, calming and exerting.

Leave stress for another lifetime!There is no point in worrying about everything under the sun anymore.Living in the present will ensure that you don‘t let the years ahead goaway dwelling in the days past. This is, after all, just another stage oflife, and there are certain pleasures, and some inconveniences, involvedhere too.

Maintain a strict sleep schedule.Just because you‘ve aged, doesn‘t mean that it‘s alright to sleep your

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days off. Get off the bed, and indulge an active lifestyle. Remember– you‘re only as old as you convince yourself! Maintaining a rigid sleepschedule will help you experience the best of old age in India. In theend, it helps to know that living healthy is more about living a healthylifestyle, than it is about visiting the doctor periodically. Old age inIndia may be complicated for most men and women, but it certainlydoesn‘t necessarily mean that you have to let go of the life and lifestyleyou loved. Among the many tips mentioned above, the best tipfor senior citizens in India would probably be to just get go and live– there‘s no better tip for a healthy lifestyle.

Help grandkids:If your grandkids are busy with homework and you have some time onyour hands, why not help them with their work? Apart from homework,you can play with them, tell them stories, take them to the park etc.Thus you will gain a good listener and even build a healthy relationship

Go on a holiday:Go on a cruise with your partner. Visit a distant land, which you havealways wanted to see. And remember there is no age bar for a secondhoneymoon. This is the age when you are alone most of the time withyour partner, so make the best use of it. Discover those facets abouteach other left untouched and forgotten over the years.

Volunteer:Be a volunteer to an NGO who deal with projects relating to theempowerment of women, child care or anything that draws your interestand is also of a major help to the society.

Use your skills:You may be a businessman, a professional, or an accountant. Years ofexperience in that field will surely be of some help to the youngsters.Use your skills to train them. Start a course. This will fill your pocketsand even finds you some work to keep going.

Pen them:You may not be a celebrity to the world, but life must have taught yousomething, that you always wanted to pen down. So why don’t you tryit now? You have the leisure and even the patience too. This is the

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best opportunity, to tell the world what you feel. You may not win theBooker Prize, but maybe many can learn from your experience.

Join a course:Wasn’t there a time when you badly wanted to learn to paint, sing ordance. Here the time has come. Join a course that interests you. Fulfillall your desires. Use your creativity to put forth your ideas

HOME REMEDIES FOR JOINT PAINAn individual may be faced with joint pains. In all the forms, joint painis always a problematic situation for all those who are affected by it.Thus, for such people, it is best to opt for using home remedies forjoint pain.

Exercise is the best wayFirst and foremost, the joint pain exercises are great to resolve thejoint stiffness. These workouts help to improve the joint flexibility andthey even strengthen the bones.

Garlic helpsOne can even grind garlic cloves and use them as a paste on affectedregions. This will surely remove pain felt and that too in a short periodof time. However you need to note that garlic paste requires to bewashed off in a few minutes of its application otherwise it may resultin skin boils.

Proper dietMaintaining the diet that is filled with fiber is a great way to reduceand prevent the joint pains felt due to osteoarthritis. As the fiber fillsone on the calories, one is less likely to over-consume and faceweight gain that is known to pose various problems for the peoplehaving osteoarthritis. Also, fiber is featured with the anti-inflammatoryeffects that in turn ward off the osteoarthritis pain.

GingerYou can further take ginger juice. Crush the vidanga to make a finepowder along with the rock salt. Mix these together and use them inquantities of 3gms each time along with honey. Use it thrice in a dayto see the results.

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TomatoesSome of the joint pains are suffered more in fingers, knees and shoulderswhile you lift the heavy objects. These are the persistent pains. Insuch situations, it is best to eat tomatoes as they are rich in VitaminC. You can eat 4 to 5 tomatoes daily and take the bowl of tomato souptwo times in a day. This will provide you relief in some time.

Fruits for joint pain reliefAs far as the fruits are concerned when it comes to relieving jointpains, it is important to know the fruits that are great for such conditions.Bananas offer great help when it comes to relieving the pains asprovide grease and strength to joints. Thus bananas help to curb thejoint pains felt.

Flaxseed oilThe flaxseed oil can also be used in the condition of joint pain. Thismakes you feel nice. So, these are some of the home remedies forjoint pains that can be used for relieving the pain felt. As you approachretirement, you should increase exposure to less risky investments asthe number of working years is less and you need to protect the corpusyou have built from the vagaries of the equity markets. Therefore, youneed to rebalance your portfolio as you cross different age groups.There is no strict demarcation as an investmentportfolio is a function of one’s risk-taking ability, existing investments,income, expenses and financial goals.Achievement of this degree ofself-acceptance is one of the great gifts of later life.

RELATIONSHIP CHALLENGESRetirement brings new challenges to a relationship. Both parties mayhave adjusted to a certain amount of time together each day. Withretirement, the time spent in each other’s company greatly increases.This intensive contact can disturb the equilibrium of the relationshipand bring unresolved tensions to the surface. Both men and womenmay struggle to adjust to the new situation. If prior to retirement,your partner stayed at home while you worked, she may resent yourintrusion on her traditional ‘territory’, especially if, in an attempt todirect your urge to ‘do something’, you attempt to impose yourself onher well-established routines. Tension can also arise out of the

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increased need for joint decision-making. Whereas, prior to retirement,the routine of work allowed for a relatively clear division ofdecisionmaking responsibilities, after retirement, there may be manymore decisions that need to be made together. Unless both of you areprepared to listen and be flexible, a shift in decision-making can be asource of conflict. The key, as with most relationship issues, iscommunication. Without effective, open communication, including thecapacity to compromise and negotiate, the challenges of retirementcan place critical strain on a marriage.

Keep activeThere is a lot of research to show that the people who cope best withretirement are those who stay active and involved. This might include:

Developing an old hobby or starting a new one.

Staying physically active, through walking, swimming, gym or sport.Make sure your exercise routine is appropriate for your physicalcapacities and limitations.

Volunteering with a charity or church group.

Working part-time.

Studying a course.

Stay in touchLoneliness and isolation are a risk in old age for the simple reason thatas people grow older, more and more of their friends tend to die, moveaway, or lose the mobility needed to keep in touch. This is particularlyan issue for men, who tend to emphasise self-reliance and put lesseffort into maintaining their social networks.

Many men do not realise the extent of their reliance on work friendshipsuntil after retirement. Here are some suggestions for warding off post-retirement isolation:

Make the effort to stay in contact with family and friends. Offer to babysit your grandchildren.

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Check out local community centres for upcoming activities you mightenjoy.Even if you’re not sure, try something new: you might surprise yourself!

Men’s Sheds offer a space to share ideas and skills and participate inpractical activities such as woodwork, metalwork and restoring oldcars.

Hobbies:HOBBIES develop a hobby whilst you are still working. Everybody hasan interest in something and after retirement you can dedicate moretime to an occupation you really love. If you can, travel. Go to theplaces you always wanted to see. If you feel insecure, travel with agroup.

Enroll in a language course:Enroll in a language course. Nobody is ever too old to learn somethingnew. Join clubs, associations and look out for charity and volunteerwork. Seek out the company of young people; they in turn will keepyou young and active.

Make each day a celeberationBe a Kid AgainExpand Your HorizonsList Five of Your StrengthsHelp Some One without Telling ThemChange Something about YourselfAccomplish Something Small That You Have Been AvoidingTalk With a Good Friend

EMOTIONAL CHANGES OF RETIREMENT CAN TARNISH GOLDENYEARSThe transition from the work force to retirement is often measured infinancial and career-centric terms: When is the time right? How big isthe nest egg? How to spend it? But often overlooked in that transitionare emotional challenges like a change in identity and questions overself-worth and purpose, which can undermine the golden years. Theemotional balance for those approaching retirement is a “combinationof excitement with underlying trepidation,” said Dr. Dwight Moore, apsychologist and the president of Life-Shift, a program that helps

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professionals prepare for retirement. The transition has various stages,he said. The first stage, which lasts about a year, is excitement.Retirees rest, go on trips, downsize their homes or do the thingsthey’ve always wanted to do. “I went to Australia a couple of times,Japan a couple of times, I went to Europe more times than I cancount,” Jennings said. After the novelty of retirement wears off, Mooresaid, people start asking themselves, “Now what do I do?” “The firstsense of emotion is loss, [particularly a] loss of identity,” he said. “Thesecond is a sense of fear of ‘how am I going to replace the kind ofaffirmation that I got.’” With the absence of affirmation professionalsget from their careers and with no boss or business demanding theirexpertise anymore, retirees are often left searching for selfworth. “Youlose who you are. You lose the work identity and the work context,”Moore said.

Retirees who adjust the best don’t think of the transition as retirementbecause the word carries a passive and negative connotation, Mooresaid. “They think about it as their next career, the next stage, the nextchapter in my life,” he said. John Crawford, a former vice president withAmerican Express, said he began preparing for his retirement years inadvance. “The bigger focus was on the psychological part rather thanthe financial part,” he said. “The financial part was what the companyand I had already worked on.”

WHO AM I NOW?For many men in our culture, identity revolves around a number ofcentral roles andskills:being a good providerbeing ‘useful’being independentbeing an achieverIn order to adjust successfully to retirement, men have to startredefining the bases of their sense of self. Without the role ofbreadwinner to rely on, you may start to ask, who am I? Self-esteemcan start to fall and depression can set in. Other social roles mayevolve in retirement, such as:being a good carer for one’s partnerbeing a community elder

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being a good grandparentHowever, the greatest challenge post-retirement is coming to defineyourself less in terms of your roles and activities — what you do —and more in terms of simply ‘being’. Instead of answering the question‘Who are you?’ with a ‘doing’ answer such as, ‘I am a father/engineer/teacher/handyman’ etc., you come to answer simply, ‘I am me.’ The‘Crisis’ theory: High vulnerable “become rapidly disoriented whenconfronted with change. May experience paralysis of thought or will,unable to plan action or seek assistance”.

ROLE Conflict When a person retires, the role of worker is relinquished.For some people, this role has been the single most important aspectof their adult identity. In many instances loss of self-esteem andfeelings of usefulness.

CONCLUSIONWhatever the way you decide to plan your life and how you want tospend your life after retirement is purely an individual and independentdecision of yours. But the utmost importance should be given to thethinking that you start planning your retirement life at a very earlyage. When you think of the financial investments, you have to takeinto account the inflationary trends. You have to think of the liquidityof your investments. Balance both the high risk and low risk investmentsand make investments taking your age and income levels intoconsideration. More than wealth, health is most important so ensurethat you enjoy every movement of your retired life hale and healthy.

Courtesy : Canara Bank, Staff Training College, Bengaluru