..............While extending the first and second option of pension in 1995 and 2010 the employees who had resigned from the service of the bank were not made eligible to opt for the pension. Similarly the officers who had voluntarily retired under the respective schemes of banks were also not made eligible for the pension option. However after protracted legal battle the officers who had voluntarily retired from the bank’s service were made eligible to opt for pension and accordingly they started receiving the pension. The only category of employees / officers who had resigned from the services of the banks is left out of the pension scheme. The number of such left out employees / officers is not more than 2% in the banking industry as per rough estimates. A number of cases were filed....................
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1 comment:
The previous government was misled on pension issue. The blind introduction of NPS through back-door for a section of central government employees under external pressure, then forcing like-minded state governments to follow suit, interference in the implementation of existing funded pension schemes in several public sector organisations are all the result of this. The new government should review the whole issue. As regards pension option, it should be available ‘on tap’ subject to the same terms first optees were given the switch over from PF to pension.
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