Saturday, November 10, 2012

IBA extends pension option for "VRS Retirees"

Second Pension Option for VRS Retirees from Nationalised Banks.
Finally IBA has extended 2nd option to bankers who reired voluntarily from service. This option will be available to those who had taken Voluntary Retirement from the Bank's service on or after 29.6.1995 in case of nationalised Banks / 26.3.1996 in case of Associate Banks of SBI.
View the IBA Circular
Click Here to view the corrigendum released on 10.12.12


Mr.M.C.Agrawal said...

IBA has now agreed to 2nd Pension Option to left over bankers, but only those who were VRS optees.2nd pension option is not being extended to resignees/crs.It is a matter of concern that IBA has once again manipulated the guidelines issued by MoF and Court judgements that resignees/crs are still not eligible for 2nd Pension option.According to the judgement of Karnataka High court and Supreme Court in LIC case it is totally wrong on the part of the IBA to deny 2nd Pension option not only to VRS optees but also to resignees/other category of retirees like crs.The matter relate to Social security issues and the pension should be available to all irrespective of the exit mode after minimum required service period and I am sure that IBA will again be defeated in court of law because of refusal of pension option to resignees/CRS. We have to continue our fightagainst the injustice done by IBA.
Ex-Chief Manager
Syndicate Bank said...

Members of this Blog are requested to upload the Circular issued / to be issued in the matter of second option to VRS Retirees for the benefit of other members.


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