Wednesday, August 24, 2011

AIBOC takes up matter of resignees with IBA in light of recent Supreme Court Judgement

Recently Honorable Supreme court has delivered a  landmark judgement  regarding  eligibility of pension  for  officers of New India Assurance Company Ltd  who had resigned after completing pensionable service. In this regard AIBOC has taken up matter with IBA . Click on the link below to view the circular. 

AIBOC Circular


  1. Several issues taken up by AIBOC has not yielded any fruitful result so far. They are
    payment of enhanced gratuity to retirees from 01.01.2006
    Enhancing IT limit on gratuity to Rs 10.00 lakhs for those retired prior to 24/05/2010
    Reducing 56 % of pension gap paid by retirees from total income for the relevant financial year while arriving taxable income.

    So far, the results of all the above issues are ZERO.

    Before taking up the matter of resigned officers, retired officers expect that the above referred issues are resolved first.

  2. AIBOC is like ruling party. We are Anna's AAM ADMI.


  4. In the wake of the serious observations made by Reserve Bank of India themselves, I am of the opinion that it should be made a statutory obligation quantifying the provision towards pension fund by all the member-banks uniformly in conformity with the actuarial calculations lest there could be an impending threat of erosion in the corpus in near future, which is highly detrimental to the interests of the Bank Pensioners as a whole. If need be, we may have to seek a direction from the Supreme Court citing the recorded remarks of RBI. I therefore, wish to draw the attention of every one to work out effective strategies in this direction.

  5. Sir,
    any association working or pensioners taken up the matter of enhanced gratuity.WHY NOT????????

    payment of enhanced gratuity to retirees from 01.01.2006

  6. All of us

    1)The Unions/Associations are gleefully observing our reactions for the last 18 months.

    2)Their silence is also a message.

    3)Stop shouting and do some work and collect some money and do some act: co-ordinate a common committees and appeal to govt collectively.

    3)We do not find a single instance where a memorandum was submitted by the retirees to the Individual Banks/IBA/Law makers.

    don’t just shout.