The Officers working in the Banking Industry and who
(i) Retired under Voluntary Retirement Scheme of individual banks, as enshrined in the Officers’ Service Regulations.
(ii) Exit Option Scheme introduced by Subsidiary Banks of State Bank of India.
(iii) Resigned from the service of the Bank for various reasons including health reasons in the absence of the provisions in OSR for Voluntary Retirement but after completing pensionable service of more than 20 years.
(iv) Were retired by the Bank prematurely by imposing punishment of compulsory retirement, discharge, termination etc.
(v) Retired under Voluntary Retirement Scheme of the Bank after 27.04.2010 on which date the Joint Note was signed by IBA and AIBOC along with other Officers’ Organisations etc.
have been denied pension option. AIBOC has been per-suing the the matter with IBA. AIBOC has issued a circular in this regard.
Click here to view AIBOC circular.