Monday, August 23, 2010

Indian Bank circular on pension with option for continuing CPF.

IBA issued guidelines on Pension to Banks on 1oth Aug 2010 with two Annexures. ie. Anx.1 and  2 for working staff as well as for  retired staff.
Now Indian Bank  issued circular ,of course with all details  on pension,but with one   more annexure for those who are not opting pension !!

Download the circular
Provided by Mr Mohan P.


raamraam said...

thank god they have not asked NOC letter from chitra gupthaa &countersigned by lord YAMAA

mahesh agrawal said...

Dear sir,
i think it would be better to file different writ petitions at different places either on the basis of homogenity of group/bank wise and the same should be done with out wastage of time....Immediately after denial of pension option by the bank,the action is to be geared up...First of all token amount for joining the membership should be collected and afterwards the amount as being spent from time to time may be collected from the members....Relevant decided cases notice in the members should be placed on the blog for ready reference by the lawyers...Ihe important thing is that the lawyer well versed with service matters /cases should be engaged who can impress upon the injustice and unconstitutional provisions in the option agreement....Not only the pension option but the right of pension option after deletion of break in service due to strike clause and hence no penalty /cost should be impressed upon....I am sure that IBA/Banks will be defeated and the provision for recovery of cost and maintaining the suit should be recovered from erring officials who knowingly deprived VRS optees to opt pension....

mahesh agrawal said...
This comment has been removed by the author.
mahesh agrawal said...

Dear Members,
Kindly send the copy of high court judgements cases to your banker and opt pension and impress upon the the management to seek clarification from IBA in view of decided cases whereby they can not make any distinction between retired on superannnuation and retired voluntarily under service regulations of the bank.
case:1.the Supreme court (Bank of India Vs Rajagoplan et al in a Civil Application # 6959 of 1999) and Madras Court (in the writ petition No 2377 of 2001 - Abdul Sattar HAL Vs Union Bank of India)
2.The Judgment of Hon Mumbai High Court in the case Madhav Kiritikar Vs Bank of India puts the doubts at rest regarding unquestionable eligibility of Voluntarily retired officers opting for pension.

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