The Indian Banks Association has suggested certain alternative proposals on pension after meeting the representatives of United Forum of Bank Unions, general secretary of the All India Bank Officers' Association R J Sridharan said.
UFBU, comprising nine bank union constituents and representing about one million bank employees, had raised certain issues, including pension, during discussions with IBA Chairman P S Shenoy in Mumbai on February 23, Sridharan said.
UFBU's demands included calculation of pension at 50% of the actual basic pay as provided in the pension agreement, accounting of cost pension on last wage revision agreement, one more option for pension to the employees and officers and cost of hospitalisation reimbursement expenses to be kept out of wage revision cost.
Reacting to the demands, IBA suggested certain alternative proposals on pension. The details of the proposal have not yet been disclosed, sources said. After preliminary discussion on these proposals, it was agreed that IBA would work out and submit details to UFBU after which the same would be discussed along with UFBU's proposals, Sridharan said.
On one more option for pension, IBA said they have an open mind on any alternative viable proposal and this will be discussed further, he said.
On hospitalisation expenses, IBA agreed to sort out the matter through mutual discussion, he added.
© 2026