Some of the CPF Optees are putting in their papers for voluntary retirement without being conscious of the implications of such acts on their part although they have completed the minimum qualifying service under the Pension Regulations. AIBOC has advised such officers to await the implementation of the 2nd Option on Pension Scheme, the process of which involves many technicalities , before venturing to submit their papers presumably under the impression that they would be eligible to Pension benefit in the normal course.It is better to await until the formalities are completed rather to take the risk of getting into technical wrangles at a later date.
Thursday, June 10, 2010
Pension option - quitting bank service under Voluntary Retirement / Resignation etc.
Labels:
pension,
Wage Revision
Subscribe to:
Post Comments (Atom)
I WANT TO KNOW THAT I WAS CLEK CUM CASHIER FOR 27 YEAR AND RESIGN OUR UNION AIBEA IS ALSO WITH YOU OR NOT WHAT CAN I DO FOR IT PLEASE REPLY
ReplyDeleteWe wish the efforts of the G S AIBOC with IBA should bear fruit to avoid unnecessary litigation. IBA is requested to view the issue in the right perspective and avoid discremination among equals. Wisdom should prevail over all the concerned.
ReplyDeletecomrades,
ReplyDeleteplease send the request through RTI's to MOF.
This is the free remedy available to us to compel and convince the Govt./IBA/for set right the illegal/illogical/unwarranted recovery/penalty of 156% of PF and 2.8 times penalty of nov.2007 pay.
Kindly send/flood the request to MOF for their set right the dispute. Send copies of the same to your near and dear ones for onward sending RTI. Family members are also righteous to ask for the information. thanks .
akgoel
From
…………………………… Place:
-------------------- Date:
The Central Public Information Officer,
Government of India,
Ministry of Finance,
Department of Economic Affairs,
North Block
New Delhi 110 001
Dear Sir,
Requisition of Information under RTI Act, 2005
We invite your kind attention to letterNo.20060611 dated 11th June, 2010 Shri C N Venugopalan of Kerala has addressed to the Hon'ble Minister of Finance pointing out the anomalies in extending fresh option for Pension in Public Sector Banks.
The following anomalies in the proposal made by IBA have been listed out and brought to the attention of the Hon'ble Minister for his consideration:-
1. Recovery of CPF and another 56 percent on it as a contribution for pension coverage to retired
2. Recovery of 2.8 times November, 2007 pay in the case of the working people
3. Forfeiture of Pension from the date of retirement to the arbitrary date of 27 November, 2009 in the case of the retired.
4. Releasing commutation benefit without reckoning the age at the time of retirement.
Pension is an already sanctioned benefit to the bank employees which had been taken away illegally through the wrong implementation of the scheme and is not at all a new benefit. Whereas the Pension Scheme has been one and the same and Government and Public Sector Banks irrationally burdening one segment of employees alone totally lacks propriety. Such an action will constitute an offence upon the magnificent Constitution of the great democratic nation and on substantive law. Government approval for the illegal recovery recommended by IBA will go to prove that the oath of office the Hon'ble Minister has taken while swearing in "to treat people of all manners alike" gets breached.
I request that the action the government has taken to do away with the anomalies and to render justice to the bank men may please be intimated. The action report on the letter either separately or in the form of the notings on the letter under reference may be made available to me. In case the anomalies are eliminated in tandem with the provisions of the constitution and of substantive law, furnishing of the information sought will stand waived.
The prescribed fees for supplying the information is sent herewith
Thanking You,
Yours faithfully,
(Name)
Encl: Postal Order No.___________ dated _________ for Rs.10/- payable at N Delhi in favour of CPIO, MOF