Friday, March 11, 2011

pension option for resignee / VRS (under Bank's Regulatios) Officers - AIBOC Circular

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.


  1. It is a welcome sign that AIBOC has taken up the matter of resigned employees (with 20 years of service) for inclusion under pension option. However, I do not understand why it has diluted its earlier letter to IBA of inclusion of those who had/have resigned after completing 15 years of service. Don't you feel cheated if you ignore this class especially when special VRS was given to those with 15 years of service. Needless to mention here that this class of resigned with 15 years service is just asking for pension and not any ex-gratia & other benefits extended to those under special VRS OR adding of 5 years notional service for those with 20 years of service.

    This category of resigned with 15 years of service is just a tiny fraction in larger category of 20 + years of service.

    Hope AIBOC takes care of this category of 15 + years in ensuring equality of justice.

    1. Yes, I agree that this section of officers who had completed 15 years of service and then resigned should be considered for pension.

  2. The good Vidura tells us in the Mahabharata that in judging a king’s action, he looks at the results. If it benefits people, it is an act of dharma. Hence, a ruler would agree to sacrifice an individual for the sake of a village and a village for the sake of a nation. The English thinker, Jeremy Bentham, went on to make this criterion famous in the 19th century via his utilitarian slogan: “the greatest good of the greatest number”, while in contrast, Mahatma Gandhi, the Father of the Nation asserted : " I do not believe in the doctrine of the greatest good of the greatest number. The only real, dignified, human doctrine is the greatest good of all ".

    The last bi-partite settlement, it seems, preferred to follow the doctrine of Vidura & Jeremy, giving a back seat to the tenets of the Mahatma. While the 2nd pension offer to lakhs of bank employees was a commendable job (Kudos to Union leaders / IBA / Govt. of India), the sacrifice of a few at the altar, was quite surprising and shocking. In contravention to the minutes of the discussions held on 9th Dec 2009, wherein it had been clarified that retirees mean and include all members who had retired on superannuation, VRS, and special VRS, the exclusion of VRS optees, Compulsory Retired, and Resignees (where there is no provision of VRS) from the social security ambit, was certainly devastating and demoralizing. Referring to the recent communication of AIBOC to IBA, one is constrained to note (with due apology, of course) that AIBOC wrote its first letter on 28/8/2010, followed by the second on 29/12/2010 (after the lapse of 4 months ! ), subsequently followed by the latest on 9/3/2011. In all fairness, although it is better late than never, the time lag seems to be too long for such a pertinent issue.

    Meanwhile, legal recourse has already been initiated in some High Courts, and it would not be surprising if IBA / Govt. of India take the plea that since the matter is sub-judice, it cannot be reviewed. While AIBOA, vide its Circular Dt.25th August,2010, preferred to initiate legal action through Canara Bank Retirees’ Federation and Canara Bank Officers’ Union (the Writ Petition was admitted on 30-11-2010 in the Madras High Court, as per AIBOA Circular Dt.February 15, 2011), one is surprised to note the contents of its latest Circular Dt.February 17, 2011 : IBA DISCARDS UFBU TO TALK TO ONE APEX UNION (AIBOC had a meeting with IBA on 6th January,2011). This, obviously gives rise to the apprehension that there is divergence and disagreement between these two major Unions instead of harmony and consensus which, I’m afraid, if unchecked, would provide leeway to IBA / Govt.of India in turning a deaf ear to the legitimate rights and privileges of the bank employees - serving and retired, as well. Since the secret power of unity is strength, built upon mutual trust and faith and the oneness of a single, well formulated goal, it’s high time that these two major unions, representing lakhs of employees, bury their differences and instead, unitedly prevail upon the obstinate attitude of IBA / Govt.of India, thereby equipping themselves suitably for the stormy days ahead.

    While I appreciate AIBOA’s concern for the workers in the unorganized sector, ((Quote : AIBOA is proud of our role as a TU organization to support our brothers and sisters in the unorganized sector. A tear wiped out from the eye of Indian worker is a priceless gift to all of us … Therefore we call upon all our members and well-wishers to come forward whole heartedly and make the contribution of one day wage for this noble cause immediately ), with due regards, I would prefer to strike a chord that CHARITY BEGINS AT HOME, and appeal to the learned, devoted leaders to wipe out the tears of their retired fellow men also, who have been subjected to untold agony by depriving them of their legitimate right – the Right to Pension. CONTD..

  3. (Contd ...) Sidetracking the expensive and time-consuming legal processes (which invariably, should always be the last resort), other alternative and effective measures should have been / could be be chalked out to settle the issue across the table. There are ways and means to induce IBA / Govt.of India to come to the discussion table and make them understand and acknowledge the agonising existence of a small section of eligible officers who have been bludgeoned during their sunset years by denial of pension. I’m sure, this should not be an insurmountable problem for the high-stature leaders of AIBOC & AIBOA carrying the mandate and support of lakhs of bank employees.

    Perhaps, this is the first instance when someone goes to the Court of Law to get the provisions of the Bi-partite Settlement to be implemented which, could have been / could be averted by incredible resilience, incredible strength. Everyone knows that no case is finalized on or before ten / twelve years. VRS 2001 optees got the additional 5 years benefit almost after a decade through a recent judgement of the Supreme Court. Take the case of Mr. Pradeep Kumar - VRS 2001 Retiree - turned - Advocate in the Hon’ble Supreme Court. His case dates back to 2004, and final hearing is yet to come. If this be the fate of an advocate fighting his own case, just imagine, where do we stand ? See the Bhopal tragedy – it took 26 years for the final verdict ! We cann’t blame the Judiciary - it’s flooded with cases. We’re a nation of litigation - thousands of cases are filed everyday across the country. Further, the defendants would, invariably play their dirty game in delaying the process further. How many of us in the age group of 60-70 can expect to live, so as to avail the benefit (if favourable) of the verdict ? No one has seen tomorrow. How much commutation can the lucky survivors expect after a decade ? And how many of them can afford to avail the opportunity then ?

    Unlike the prophecy of Nostradamus, my intention is not to foretell Dooms Day for the pension-less retirees, nor do I have the intention of dissuading or offending anyone ( I may be pardoned, if I hurt anyone’s feelings). On the contrary, through this august forum, I appeal to everyone concerned i.e. Leaders, IBA and the Government of India, as well, to give a serious thought to the treasured views of the Supreme Court, that pension is not a bounty, nor a matter of grace, but is a right which, the pensioners have earned by their toil. Pension is not a bounty payable on the sweet will and pleasure of the government; on the other hand, the right to pension is a valuable right vesting in a government servant, right to receive pension is a property under Art.31(1) of the Constitution and by mere executive order, the State has no power to withhold the same.

    Let’s all hope and pray, that the 1st Anniversary of the last Joint Note would certainly ring-in good news for the affected.

    Wishing everyone a cheerful HOLI filled with lovely rainbow colours.

    "Sarbe janaah sukhino bhabantu,
    Sarbe santu niraamayaah,
    Sarbe bhadraani pashyantu,
    Maa kaschit dukha bhaaga bhabet."

    ( May there be happiness for all, May good health be granted to all,
    May there be right vision in all, May no one suffer any pain at all.)

  4. aiboc should resort to legal recourse to give justice to vrs optees with 15 years+ .The justice should be done to them in time .they should also get additional benefit of 5 years as all other vrs optees are getting

  5. Hi All,

    May I request any body in the forum to please let us know the status of 15 to 19 years of service in state Bank of India (less than 20 years) and opted for retirment in Mar 2001 . We did not get pension beacuse the pensionable period is 20 years .

    If anybody know any case pending or judgement in favour kinldy let us know.

    WE will be extremely greateful to you for your help.

  6. While letters written by Mr.Nadaf to IBA are given wide publicity, the readers seldom find any reply from the concerned authorities to his communications. It is almost two months since he wrote to IBA regarding pension to VRS optees / Resignees / Compulsory Retd. Has he not received any reply yet ?

  7. Our representative Associations never bother(ed )to reply nor to clarify member(s) queries. They have sacrificed the interests of the retired employees by not including raise in Gratuity ceiling issue in 9BPS. Employees retired after 24.05.2010 got more Gratuity than those seniors retired in 2009-2010. The association didnot bother to give a relook into the matter till date. Do they realize the damaze done to the interest of reitred employees?

  8. I exit optee of SBBJ feel grateful to MR.G.D.NADAF
    &MR.BALI of my bank to continue fighting for pension for exit optees .While I am desperately
    waiting for the day to come,this march representation of AIBOC is literally welcome & gives a sense that association has not forgotten us THANKS & PLZ KEEP UP THE FIGHT

  9. does the pension amt will increase with each wage revision irrespective of date of resignment under pension scheme

  10. Shri Shenoy deserves highest praise for his bold step of moving PIL for benefit of retired bank employees.wE ARE THRE TO SUPPORT SH.SHENOY IN ALL POSSIBLE WAYS.
    S.k. JERATH

  11. DEAR AIBOC Friends

    What is the status now? Why you are not pursing with IBA and Finance Ministry. You have to fix a deadline and take appropriate steps to correct the unjustice done to the VRS/CRS optees. Only a matter of time legally they will win the case. But some retirees may not be there by the time the court case is decided. Their curse will be on the union and their leaders who cheated the retired employees. Long live unions and their leaders