Pensioners in State Bank of India

Of all the public sector organisations in India State Bank is the oldest one where pension to the employees was introduced right during the days it used to be called Bank of Calcutta established on 2nd June in 1806 which was later renamed as Bank of Bengal on 2nd January’ 1809 to form Imperial Bank of India subsequently on 27th January’1921. Employees in this Bank had the triple advantage of Pension, Provident Fund and gratuity. Now such benefits are a general feature in almost all the banks throughout the country. Work force in State Bank now lags behind several other organisations including non commercial ones like Central Government employees. There are undertakings like Life Insurance Corporation of India which are much better placed with a liberalised calculation of pension to suit its retirees. Such a calculation is not allowed to be applied to State Bank employees despite persistent demands raised on that count by the respective unions. Besides the currently serving employees union namely All India State Bank of India Staff Federation and All India State Bank of India Officers Federation there is another union exclusively for the retired employees/ officers to look after the interests of the retirees. None is able to deliver necessary goods and the retirees from State Bank are left in a lurch compelled to lead a miserable life in every day growing prices of essential commodities and they find themselves just helpless to manage necessary sustentation for themselves and their families with the meagre amount they get by way of pension. In fact the retirees are themselves to blame in many ways on this count as they lack much behind in the matter of necessary efforts in this context and they  merely look to their respective unions as silent spectators.