Bank retirees take part in demos to demand higher pension

About three lakh bank retirees across the country today took part in mass demonstrations in support of their demand for pension updation.

The demonstrations were organised by the United Forum of Bank Unions (UFBU) in support of their 21 demands which also included demand for pension updation. Members of the All India Bank Retirees Federation (AIBRF) took part in the stir. "Pension updation has not taken place after retirement of members from bank services since 1993," B Ramji, Deputy Secretary of AIBRF, told PTI by phone. The pension scheme in the banks is on the lines of one for the Central Government employees. But pension updation for bank retirees has not taken place since 1993, while retired employees of Central Government continue to get their pension updated at the time of their wage revision, he said. Bank employees and officers unions had announced that they would go on a nation-wide strike on August 5 to protest against proposed banking sector reforms and wage related issues as conciliation talks with the management has failed. Also read: Strike disrupts normal banking operations