Thursday, August 9, 2012

Pension option to resignees and compulsorily retired employees

All India Bank Retirees Federation (AIBRF) has written a letter to Finance Secreatary, Govt. of India, requesting him to  issue specific direction to IBA , for including resignees and compulsorily  retired employees for pension option, while communicating the Government directions  to the bank.

Click here to view AIBRF Circular


  1. AIBRF has emerged as more strong and reliable organisation of bank retirees with total membership reaching close to 60000 covering 32 public, private and foreign banks. Today, I proud on your organisation which has become symbol of hope and confidence for bank retirees. This could be possible because of your hard work and valuable contribution. I congratulate of you for holding this successful delegate session. Custom Research

  2. Hi, Please let me know if there is any update on this?

  3. Still not sure whether the cases of employees/officers with service of above 15 years but less than 20 years are taken up with IBA for consideration, as this group is a miniscule one. Further, SVRS of 2001 was accorded to those with 15 years of service. It may be noted that the MOF had then advised IBA to suitably amend the pension rules to include those with 15 years of service also. However, IBA, instead of amending the existing pension rules to include the above class, preferred to include a seperate clause to include this group, thereby creating a class within a clause.

    As per pension regulations, a minimum service required for pension eligibility is 10 years. If you consider 20 years of service only as eligibility for pension, then why this service of 10 years is prescribed for pension eligibility ? At superannuation (at the age of 60), employees/officers including ex-servicemen (who enjoy age relaxation for joining service), would have completed more than 20 years of service.

    Please be kind enough to study the above and contribute