Why AIBOC and Other Unions Are not Taking Legal Action for Denial of 2nd Pension Option to Certain Category of Officers

by

P.V. VARGHESE, VRS officer from Bank of Baroda [ pvvarghese58@gmail.com ]

(Letter sent to AIBOC and others)

I have seen your letter dt.30.5.2011 addressed to the Chairman, IBA, Mumbai and the letter dt.26.12.2011 addressed to Shri D.K. Mittal, Secretary, Deptt of Financial Services, Ministry of Finance, Govt. of India, New Delhi requesting for early action to rectify the error in denial of 2nd pension option to VRS officers due to the arbitrary and unilateral action on the part of IBA. Enough time has passed and there is no action from IBA in spite of your invoking Clause 14 of the Joint Note dated 27.4.2010 where you are a signatory.


You may also be aware of the recent Judgment of the Andhra Pradesh High Court in respect of the Writ Petition No.9069 of 2011 between Sreeram Ramamurthy AND Andhra Bank (a case of compulsorily retirement). While disposing Writ Petition the Hon. Andhra Pradesh High Court in its Order dt.22.3.2012 has observed that officers who were in service of the bank prior to 29.9.1995 but retired after that date and prior to the date of the Joint Note are considered eligible for the 2nd pension as per clause (3) (a) of the Joint Note. The Court has further observed that the definition of retirement as per the Pension Regulations covers all cases of cessation of service and that the word “retired” used in the Joint Note and Circular has to be understood broadly as per definition.