Hidden Highlights of the Tenth Bipartite Settlement
Hidden Highlights of the Tenth Bipartite Settlement:
(a) As decided at very early stage there will be no full merger of DA and bankers are losing the merger of DA for almost one year. Thus starting Dearness Allowance in November 2012 is not zero but 10.90% as on 1st November 2012 (in central government CPC, the full DA is merged and DA on the date of settlement becomes zero). It will adversely impact the bankers in the long run as they will lose the additional DA, HRA and CCA on this reduced
(b) As we have predicted much earlier, the new DA factor will be 0.10 per slab and it is so now. This is a setback for those who were claiming that UFBU will be able to extract this up to 0.12 and some were foolishly hoping this to be as high as 0.15 per slab.
(c) One Additional stagnation increment has been proposed for each of the Scale II, III and IV. This is good for those who have not taken promotions for years and are stagnating at the top of these scales.
(d) Grade Pay / Spl Pay along with DA is likely to be part of the new scales. But it is not yet clear whether these will form part of the superannuation benefits.
(e) The demands of retired bankers seems to have been totally ignored by UFBU and IBA and these are NOT likely to be part of the settlement. Thus, senior citizens may have to take shelter of Courts, if no concrete steps are taken to settle these issues;
The Grade Pay with DA seems to be only done under pressure as ABS exposed UFBU and IBA sell out as early as 25th February 2015, as agreement provided for mere 2% increase in Basic Pay. Number of lower rank union leaders wrote against us and claimed that we are misleading. In view of hue and cry at social media sites, unions were forced to beg for grade pay. However, IBA has still been able to make fool of the UFBU as it has saved HRA and CCA on the Grade Pay (which would have been payable to Basic Pay). Thus Grade Pay is not the same thing as increase in Basic Pay (in Central Govt. grade pay is eligible for HRA as well as transport allowance !!). Moreover, it is likely to adversely affect the bankers who are going to retire from 1st November 2012 to 31st October 2017 as their pensions may be fixed only at lower ends. Thus, bankers will be adversely affected in spite of the fact that grade pay / special pay with DA is being announced;
(f) The introduction of grade pay is beneficial to Scale IV, V, VI and VII of officers as they will get higher %age of grade pay, whereas workmen and officers upto Scale III have been offered lower grade pay. Reasons are not clear. Thus, ultimately Scale IV to Scale VII may be able to get an increase of more than 15% on the Pay Slip, whereas at some stages workmen and officers may suffer.
(a) As decided at very early stage there will be no full merger of DA and bankers are losing the merger of DA for almost one year. Thus starting Dearness Allowance in November 2012 is not zero but 10.90% as on 1st November 2012 (in central government CPC, the full DA is merged and DA on the date of settlement becomes zero). It will adversely impact the bankers in the long run as they will lose the additional DA, HRA and CCA on this reduced
(b) As we have predicted much earlier, the new DA factor will be 0.10 per slab and it is so now. This is a setback for those who were claiming that UFBU will be able to extract this up to 0.12 and some were foolishly hoping this to be as high as 0.15 per slab.
(c) One Additional stagnation increment has been proposed for each of the Scale II, III and IV. This is good for those who have not taken promotions for years and are stagnating at the top of these scales.
(d) Grade Pay / Spl Pay along with DA is likely to be part of the new scales. But it is not yet clear whether these will form part of the superannuation benefits.
(f) The introduction of grade pay is beneficial to Scale IV, V, VI and VII of officers as they will get higher %age of grade pay, whereas workmen and officers upto Scale III have been offered lower grade pay. Reasons are not clear. Thus, ultimately Scale IV to Scale VII may be able to get an increase of more than 15% on the Pay Slip, whereas at some stages workmen and officers may suffer.
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