Friday, August 27, 2010

Oriental bank of Commerce issued Pension Option Circular

Establishment Circular No. HO/HRD/68/34/2010/344 23/08/2010

View the O.B.C circular and Option Form

The eligible workmen / officers (whether serving or retired) / family of deceased employees shall submit their Option Form to their concerned Regional Office latest by 25.10.2010.

The Regional Heads after verifying the particulars shall attest the signature of each optee & forward the Option Forms in one lot to the Asstt. General Manager (PF/Pension), Head Office, New Delhi so as to reach them latest by 01.11.2010.
The workmen / officers posted at or retired from Head Office shall submit their Option Form through the concerned Departmental Head to Asstt. General Manager (PF/Pension), Head Office, New Delhi by the above stipulated date, i.e. 25.10.2010. The last date of refund of requisite amount by the employees is 24.11.2010 & the modalities of the refund in respect of the retired / deceased employees will be advised separately.


mahesh agrawal said...


Legal recourse should always be the last resort.Why don’t the leaders of AIBOA,AIBOC, BEFI and all other signatories of other associations / unions and exert pressure on IBA to convene an emergency meeting; place before IBA the minutes of the discussions held on 9th Dec 2009, wherein it had been clarified that retirees mean and include all members who had retired on superannuation, VRS, special VRS. Let them try persistently to change the illogical and obstinate attitude of IBA by impressing upon them the treasured views of the Supreme Court that a pension is not a bounty, nor a matter of grace, but it is a right which the pensioners have earned by their toil. Pension is not a bounty payable on the sweet will and pleasure of the government and on the other hand, the right to pension is a valuable right vesting in a government servant, right to receive pension is a property under Art.31(1) of the Constitution and by mere executive order ,the State has no power to withhold the same.
TU organizations are to support our brothers and sisters in the organised/ unorganized sector and I on behalf of all retirees and resignees would request them to rise to the occasions and play their role .With due respect,I would just like to remind them that CHARITY BEGINS AT HOME, and request them to take care of their retired fellow men. Wake up dear Leaders; Take up the issue; Keep up your concern for the retirees; Nothing is impossible; What’s required is will power and perseverance.
Good Luck.
Mr Santosh Patnaik

mahesh agrawal said...

Kindly also advise the matter to be taken up by- National Human Rights Commission, New Delhi in case IBA fails to turn up...

Runtrailblog said...

The greatest achievement of the 9th BPS is dividing the bank employees into several groups. CHV & RJS deserve life-time award from the bank employees for this ignoble act. While the retirees are now fleeced to pay to join the pension option, the resignees and vrs optees have been totally left out to fend for themselves.

Having (mis)appropriated their wage revison portion and diverted the same to fill up the pension fund gap since 1997, it is totally unlawful on the part of IBA to again fleece the retirees while simultaneously blocking the entry of those who resigned/left on VRS due to various reasons.

Raghav said...

If any one go thro' the entire 9th Bi-partite negotiations, it can be observed that VRS optees who have completed 20 years or more service are to be given second pension option and only to accommodate those retired under Special VRS with 15 years of service, they agreed to include these categories also as a special case. But, due to some typographical error, the core normal VRS retirees have been left to be included in the agreement, but included the SVRS optees, who have already got bounty by way of Golden Handshake, in the agreement. It is nothing but a mistake committed by oversight and IBA, a reputed organization, managed by senior most respectable bankers, should immediately come forward to rectify the genuine error and issue correct instructions to all the banks to include the normal VRS retirees in the second option and should not leave the aged retired VRS optees, who have been eagerly awaiting for the second pension option for several years in lurch.

R K Raghavan,

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