Thursday, August 12, 2010

IBA guiedelines on Pension Option

Immediately after lifting the stay by Madras High Court on certain pension provisions in 9th BPS , IBA has issued the guidelines to the banks for implementation of second option of pension. Click on the link below to view the IBA circular.
IBA guidelines for second option of pension 

Annexure to  IBA Circular - Pension Option Formats

5 comments:

  1. Indian Bank Association

    Sir,
    Will it SERVE the purpose if the SCANNED copy of the downloaded "Pension Option Formats" duly signed by the Retired (under 'VRS' Scheme)person willing to join the new Pension sceme,is sent to the branch of the bank where the Voluntary Retired (VRS)person last worked and took vrs.

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  2. I AM GIVEN TO UNDERSTAND BY PRESIDENT OF AIBOC MR K.S.SHETTY THAT NORMAL VRS PF OPTEES WITH 20 YEARS OR MORE SERVICE ARE ALSO ENTITLED AND COVERED FOR SECOND PENSION OPTION NOW BY BANKS...THEY SHOULD NOT WORRY...THEY WILL GET IT 100%....I WOULD LIKE TO REQUEST THEM TO GIVE ABOVE CLARIFICATION AT THE WEBSITE OF AIBOC OR ALLBANKING SOLUTIONS.COM TO PACIFY VRS MEMBERS WHO ARE SITTING TO HOLD THEIR BREATH PLEASE.

    M.C.AGRAWAL

    mca1957@rediffmail.com

    ReplyDelete
  3. The leaders should understand the anxiety and stress that these group of retirees are facing, because of the ambiguity in the circular. They should do something so that this uncertainity is cleared and these segment of people are also covered explicitly in the current option scheme.

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  4. It is a good effort of Mr Agarwal to have contacted one of the leaders of the union/association. However, till the issue is clarified and settled, it is a matter of concern and tension for the normal VRS optees.
    Raja

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  5. The fact that UFBU has not insisted for inclusion of normal VRS optees under eligible category,in the Joint Note,shows the casual manner in which they have concluded the talks with the IBA.This sort of a casual approach on the part of UFBU has caused so much of tension to our friends,who have exited under normal VRS.Hope UFBU will make amends for this lapse without much loss of time...N T Hegde,9945155211,Bangalore.

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