The Pensioners’ Association of People’s Bank held its Annual General Meeting on June 29 at the BMICH. Over 2,000 members from various district organizations affiliated with the Association attended the meeting, which saw various issues to do with the Pension Trust Fund of the Bank being addressed.

In addition, a unanimous resolution was passed over this issue, which upheld the need to communicate to the management of the Bank that it must adhere to the Trust Deed, which regulates the relationship between the Bank and the Fund. This was highlighted by the recent expose of the Bank’s delay with regard to a nearly nine billion rupee debt owed by the management to the Trust Fund.

This was also highlighted by the Association’s allegation that the management froze the Variable Cost of Living Allowance (VCOLA) to compensate for a new pension scheme initiated during 1996. Pensioners’ Association President Tennakoon Rusiripala, speaking with The Nation, affirmed his organisation’s stand on the matter, emphasising that they are continuing to coordinate this matter with the President and the Ministry of Finance.
The office-bearers of the Pensioners’ Association this year were unanimously re-elected for the following year as well.