Monday, August 30, 2010

AIBOC Circular regarding officers who retired under V.R.S. : Pension option regarding.

"We have addressed a letter to the Chairman, Indian Banks’ Association on the captioned issue, urging upon him to accord an option to those officers who retired under Voluntary Retirement Scheme of individual Banks to join the Pension Scheme now settled as per the Joint Note dated 27.04.2010......"
View the full circular and letter sent to IBA

10 comments :

mahesh agrawal said...

Thanks to AIBOC leaders for taking up the matter with IBA for the injustice being done IBA with their retired brothers and sisters who went on VRS...Red salute to Mr.NADAF for taking up the matter in time...I further appeal to rest of the constituents of UBFU to pressurize IBA to include VRS optees and issue corrigendum to the circular CIR/HR&IR/G-2/
665/90/2010-11/999 dated 10.08.2010 immediately.
M.C.Agrawal

Shivashankar said...

This is a very positive step towards inclusion of Normal VRS retirees for the pension option. All other constituents of UFBU should follow suit and facilitate this segment of retirees to opt for pension. Shivashankar

venki said...

This is a very simple mistake by the person who drafted IBA circular and created tension for 8000 odd affected VRS retirees.Hope better sense prevails so that VRS optees can give their option now itself before 19/10/2010.Else the matter will drag on and again there should be a fight for getting 60 days time for submission of option.

Raghav said...

After the mass exodus of Bank staff in 2001, most of the distressed officers took VRS after completing 20/30 years of service as per the Banks' Service Regulations, simply because they were assured that they will be treated at par with those who retire on superannuation and they will be getting all the benefits available to normal retirees.

Even in the Joint note signed by UFBU leaders, no where the word 'superannuation' has been included. Now IBA has by oversight or deliberately included this word to deny pension option to those VRS Optees who have put in more than 30 years of service and who have taken VRS only because Bank Regulations assured them that they will be treated at par with those who retire on superannuation.
It is unfair and against law to deny pension to such VRS optees.

While thanking AICOB and its Leaders for the initiative taken, all other constituents of UFBU are requested to follow suit and take up the matter with IBA to ensure that VRS retirees are offered Pension option, as originally agreed.

R.K.Raghavan

Ramachandran said...

Red Salute to AIBOC and AIBOA for their earnest efforts to get the legitimate due to VRS Retirees. Com. Nadaf and Com.RJ Sridharan can turn the table to VRS retirees' favour. We hope other constituents of the UFBU also will follow suit and press the demand for early clearance of the smoke wall. Any way this is a unwarranted or avoidable confusion and agony to brothers and sisters of Bank Employees, who have served respective banks with their youthful blood and vigour.

Runtrailblog said...

Amazing Profits & Alleged Poverty for betraying Senior Citizens

http://www.allbankingsolutions.com/Super%20profits%20by%20banks%20alleged%20poverty%20for%20senior%20citizens.htm

mahesh agrawal said...

No voluntary retirement can be allowed in absence of VRS: CAT


The Central Administrative Tribunal (CAT) has held that a government employee cannot be granted voluntary retirement unless a scheme exists for the purpose.

"In the absence of any VRS, neither any request for voluntary retirement can be made by an employee nor any such request can be given effect to by any employer," the tribunal said.

The CAT, comprising members D P Sharma and N D Dayal, passed the order on the plea of M L Jain, Vice-President of Indian Tourism Development Corporation (ITDC) here, challenging the government's order to relieve him from service.

In its ruling, the tribunal ordered reinstatement of the officer and directed the government to give all his benefits, including arrears and salary.
In view of above also where the bank has granted VRS those optees
should be eligible for pension

mahesh agrawal said...

Employee has no right to voluntary retirement: SC

An employee has no inherent right to "voluntary retirement" as the same is subject to the rules framed by the employer governing the scheme, the Supreme Court has ruled.
A bench of Justices Tarun Chatterjee and R M Lodha said if the scheme specifically stipulates that the voluntary retirement offer made by an employee is to be approved by the competent authority, then the employee cannot insist that he should be granted retirement even if it is not approved by the management.
The bench passed the ruling while dismissing the appeal by Padubidri Damodar Shenoy, Airport Manager of Indian Airlines, who challenged the state-owned carrier's decision not to accept his offer of voluntary retirement made in 2003.
Regulation 12 of the Service Regulations, (Indian Airlines) enables an employee to seek voluntary retirement on attaining the age of 55 years or on completion of 20 years of continuous service by giving three months notice.
However, the rule stipulated that the plea for voluntary retirement of an employee who has completed 55 years stands automatically accepted, whereas, under clause(B) in the case of those who have completed 20 years of service, but not attained 55 years, the same is subject to the approval of the competent authorities.
Shenoy had completed 20 years of service but did not complete 55 years and his offer of voluntary retirement was rejected by the management.
Source:PTI

So once VRS is accepted by the competent authority,he should not be denied of pension

Ramachandra said...

Thanks a million to AIBOC for taking up this issue. Is there any response from IBA for the AIBOC letter? Has any meeting date decided to discuss the matter further?

Raghav said...

It is surprising that excepting AIBOC, other constituents of United Forum have not taken up the cause of the VRS retirees who have retired after serving morethan 30/35 years, with IBA.
It is requested that all the members of United Forum should pressurise IBA to include VRS retirees also for second pension option, as IBA has subsequently added the words retired 'on superannuation' unilaterally.

Kamalakannan.

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