"............As a part of the first phase of the settlement, we are now happy to inform all our members that the government has conveyed their approval for disbursement of balancing amount to employees / officers as allowance. The details will be worked out by us with the Management and will be advised in due course. However, the tentative working indicates that the individual benefit accruing to our members would be 6.5% of their revised Basic Pay as on 01.11.2007. This is yet another glorious chapter in the history of our movement in terms of the quantum as well as the total percentage.
Comrades, thus we have been able to achieve the demands that we have raised with the IBA during Salary Revision negotiations. Our efforts are on with the Govt. and Management to improve superannuation benefits and also to extend it to earlier retirees. We shall advise the out come later........"
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Thanks to : pay commission updates
Source : SBI Officers' Association, Hyderabad Circle.
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