MP Arora writes to FM Sitharaman for revision of pension of bank retirees

Ludhiana, June 22, 2023: AAP MP (Rajya Sabha) from Ludhiana Sanjeev Arora has taken up the issue of revision of pension of bank retirees with the Union Finance Minister Nirmala Sitharaman after receiving a representation in this regard from North States Bank Retirees Federation of AIBRF (All India Bank Retirees Federation), Ludhiana Unit.

Arora, in a communication to FM Sitharaman, has stated that he would like to bring her kind attention towards a pressing matter that requires her immediate attention and consideration He apprised FM that recently, he received a representation from the North States Bank Retirees Federation of AIBRF Ludhiana Unit, highlighting their concerns and grievances regarding the revision of pension.

Also, Arora apprised FM that the North States Bank Retirees Federation of AIBRF is a well-established organisation representing five lakhs retired bank employees who have dedicated their lives to serving the banking sector with utmost dedication and commitment.

In their representation, the AIBRF Ludhiana Unit emphasised the urgent need for the revision of pension for retired bank employees. They have highlighted several issues that retirees are currently facing, including the rising cost of living, medical expenses, and financial hardships due to the insufficient pension amounts. These retirees, who have devoted their entire professional lives to the banking sector, find it increasingly challenging to make ends meet with their current pension payouts.

Arora further mentioned in his letter that given the valuable contributions made by these retired bank employees to the banking industry and our economy as a whole, it is imperative that we take their concerns seriously. Extending his support to the bank retirees, Arora stated in his letter that as a Member of Parliament, he fully supported the AIBRF Ludhiana Unit's call for the revision of pension and requested FM to immediately intervene in this matter.

Further, Arora mentioned in his letter that he understood that the Ministry of Finance has been actively working towards addressing the concerns of retired employees across various sectors. However, he urged FM to prioritise the issue raised by the AIBRF Ludhiana Unit and initiate necessary steps to revise the pension amounts for retired bank employees.

Concluding his letter, Arora hoped that he looked forward to a positive outcome that benefits the retired bank employees and upholds the principles of fairness and justice.

Meanwhile, Arora said he has been told that more than one lakh bank pensioners are 80 and above age. For them, immediate revision of pension is a question of life and death. He said he has been further apprised that this demand has been pending for more than 20 years. During this period more than one lakh bank pensioners have left this world without getting benefits of pension revision and with a lot of sufferings during the last phase of life. He said more than five lakh retirees may spend their remaining life with dignity and respect if their long-pending demand is fulfilled.

Arora said he is hopeful that FM will consider his representation and make every possible effort to fulfil the demand of revision of pension of bank retirees on priority basis.