IOB Retirees’ Association was founded by veteran leaders Com.P.Balagopala Menon,Former General Secretary of All India Overseas Bank Employees’ Union, Com.B.B.Ghosh Former President of I.O.B.Employees’ Union(WB), Sri.V.S.T.Kumaraswamy Former President Of I.O.B.Officers’ Association and Former officer Director and Former General Manager of our bank and Sri.A.Namasivayam Former Executive Director of our bank and built up into a strong and vibrant organization by their dedicated and selfless service, over the last two decades.

Presently, it is headed by Sri.AL.Chandramouli former General Manager of our bank and former Organising Secretary of All India Bank Retirees Federation as  President and Dr. B.Ramji former General Secretary of I.O.B.Officers’ Association, former Vice-President of All India Bank Officers’ Confederation and All India Bank Retirees Federation as the General Secretary

It is an all Cadre organization representing the cause of all retired IOBIANs. All retirees from Executive Director, General Manager to messengers/ Sweepers are entitled to join the Association as members and serve as office-bearers. All India Overseas Bank Employees’ Union is extending full support to our organization and supporting the cause of our retirees. We have two-tier organizational structure, with Regional councils effectively functioning very close to your residence. The list of our Regional Council members is attached

At the national level, we are affiliated to All India Bank Retirees’ Federation, and it has been relentlessly fighting for the cause of retirees by taking up a number of issues with concerned authorities.

We have been taking up many issues of retirees with the management and solving them. Similarly, we had also taken up many issues affecting the retirees with the Parliamentary Standing Committee on Personnel, Public Grievances, Law and Justice. We appeared before the committee and presented a number of grievances. We, along with our Federation were invited for presenting the grievances of retirees by the Banking Department Govt. of India as well as Indian Banks Association. We appeared before the Parliamentary Committee on 28th January 2009   as well as on 8th February 2016,and presented 19 grievances of bank the meeting where representatives of IBA, as well as Officials of Department of Financial Services Ministry of Finance, participated

As a result of our taking up the issues with all the above authorities, We are glad that we have secured

1.Past retirees were also given the second option for pension. About 1500 PF optee retirees have benefited and got their pension sanctioned in our bank

2.Grievance cells were set up at bank level to redress the grievances of retirees and
3.Medical Insurance has been introduced to cover the past retirees also.
4.the anomaly in respect of Basic pension fixation for 1-04-98 – 31-10-2002 retirees have been set right and arrears  paid with interest @9%.

5.Secured II  Pension Option for CRS retirees and addition of 5-year pensionable service to specialist officer retirees

IBA referred  our representation discussed in the Parliamentary Committee meeting of 8th February2016, to its management Committee placing it in its meeting held on 2nd March 2016, Consequently, the managing committee has identified the following issues for resolution  

  1. 100%DR to pre 2002 retirees,
  2. Improvement in family pension,
  3. Updation of Basic Pension,
  4. Pension option to all leftover retirees i.e resignees.
  5. Due to our persisssstent efforts,in both the meetings, IBA started communicating with Bank Retiree organizations, and fittingly, the first such letter is addressed to IOBRA, because it is only due to our repeated appeal in the meetings of the Parliamentary committee , both in 2009 as well as on 8th February 2016 and the direction they got from the Chairman to this effect at our instance.

Due to the relentless work put in by some of the affiliates of some of the constituents of AIBRF, the Supreme Court granted weightage in qualifying Service up to 5 years in terms of Regulation 29(5).

Pension of Part-time employees

Right from the year 2010,IOBRA has been drawing the attention of all concerned to the injustice meted out to part-time employees while fixing their basic Pension. Their Basic pension was being calculated on their basic pay which is a fraction of the scale wage. In addition to it, their pensionable service also is taken as a fraction. We took up the matter with the bank as well as IBA. On our request, AIOBEU General Secretary Sri.R.Parthasarathy represented the matter in the bipartite and got the anomaly rectified.

Uniform medical assistance and hospitalization scheme for all retirees.

Hospitalisation scheme has been extended to retirees by IBA in the tenth bipartite as per the directive of the Chairman of the Parliamentary Standing Committee on Personnel, Public Grievances, Law and Justice in the meeting of the Standing Committee held on 28-01-2009 to discuss the grievances raised by our organization Indian Overseas Bank Retirees’ Association. On our appeal The Family Pensioners, as well as resignees have also been included under the scheme. The bank has also agreed to extend  a concession of 50% in the premium payable by retirees, who are already members of IOBREMAS scheme

IOB REMAS:   All retirees are eligible to join the Indian Overseas Bank Retired Employees Medical Assistance Scheme (IOBREMAS) launched by the bank  at our instance, for providing financial assistance to retired employees of the bank to meet their medical expenses