As we bid farewell to 2023 and step into the new year, a wave of mixed emotions washes over us. For Bank retirees, from both the Reserve Bank of India and other banks across the nation, it’s been a year marked by loss of many dedicated and reliable leaders and workers in the industry, our colleagues and bank retirees. Nevertheless, we witnessed significant victories with renewed hope for the bank retirees in the future.
Paying Homage to Bank Retirees- from RBI and Other Banks in India
First and foremost, we must pay our deepest respects to those dear members and retirees who have left us for their heavenly abode. Their absence leaves a void, but their memories shine on, a testament to the lives they lived and the contributions they made to our community. Their contributions to the banking industry will always be remembered. Let us carry their legacy forward with pride and continue the fight for the rights and well-being of all Bank retirees.
An Eventful Year for RBI Retirees
Looking back, 2023 has been a year of achievements for RBI retirees. The revision of pension, effective June 2023, stands tall as a milestone. After months of dedicated efforts by our associations and groups, and with the positive support of the top management, we finally witnessed the implementation of updated pensions, an event previously delayed much. This wouldn’t have been possible without the collective perseverance and unity of our community.
We express our heartfelt gratitude to everyone involved in making this dream a reality.
Revised Family Pension
Moreover, Family Pensioners received a long-awaited revision, extending its benefits to families of those who passed away while in service pre-1997. This revision, effective June 2023, also addressed the shortcomings of the 2012 pension update, resulting in significantly improved increases for our families. These changes bring immense satisfaction and financial security to our loved ones, a well-deserved recognition of their sacrifices and contributions.
This is a matter of satisfaction for the family pensioners as their increase estimates now varies from 25% and above.
Updating of Pension in Other Banks
As we step into 2024, our gaze is firmly fixed on the horizon, filled with anticipation for progress in other banks. The upcoming culmination of the updating process for other banks, as agreed upon in December 2023, offers a beacon of hope. We fervently await this critical development, confident that it will bring much-needed relief and financial stability to Bank retirees across the nation.
Updated Pension for RBI Pensioners
Within RBI, the anticipation for updated pensions and family pensions posts the expected new wage settlement (November 2017-22) fuels our optimism. We expect these revisions to come into effect by June 2024, further solidifying our financial security and social well-being.
Conclusion
Overall, 2023 has been a year of significant strides for Bank retirees. We witnessed the power of collective action, secured major victories, and laid the groundwork for further progress in the coming year. As we enter 2024, let us carry the spirit of resilience and unwavering determination.
Here’s to a brighter future, filled with hope, prosperity, and a well-deserved recognition of the valuable contributions retirees have made to the banking sector.
Wishing you all a Happy New Year, filled with good health, happiness, and financial abundance!
And wishing a new era for bank pensioners! -AIRBIOPF
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