Employees of the State Bank of India will go on a nationwide indefinite strike from April 3 to press for revision of their pension, as the bank unions claim that a meeting with Chief Labour Commissioner on Wednesday will not be able to address their demand.
Over 200,000 employees, including officers, will strike work for an indefinite period till their demand for pension revision is not met, said All India Sate Bank Officers' Federation and the All India State Bank of India Staff Federation.
The strike will be confined to SBI and associate banks will not be affected, AISBOF general secretary Shantha Raju told reporters.
However, United Federation of Bank Unions has promised support to the strike, he said, adding UFBU may also give a one-day strike call later in solidarity with SBI employees.
The SBI employees are demanding revision of pension in accordance with salary revision in 2002 against the present 1992 scales.
Raju said two revisions, one in 1997 and another in 2002, have been made in salaries after 1992.
The workers say that they should get 50 per cent of the last basic salary as pension.
They are also demanding "commutation" of pension for 120 months, instead of the current system of 84 months, index linked DA on pension at par with industry and revision of DA formula for all retirees.Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group
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