Circular issued by AIBRF on the above subject is reproduced below
Quote
Ref:2018/017
Date : 10.02.2018
The Office Bearers/ Central Committee Members/State Body Chiefs
A.I.B.R.F
Dear Comrades,
Re: SUPREME COURT JUDGEMENT IN FAVOUR OF SBM
RETIREES
We are happy to inform that Supreme Court has delivered two important judgments in favour of retirees of State Bank of Mysore. Our affiliate, State Bank of Mysore Pensioners’ Commune was fighting this legal battle for last several years to protect interest of large number of retirees in the bank. Details of the judgement are as under:
(a) Benefit of 1684 points neutralisation should be extended to those who retired between 1998 to 2002 ( 7th wage settlement)
(b) 5 years notional benefit in fixing basic pension as per Regulation No. 29 of Pension Regulations should be extended to those who took VRS under Special VRS Scheme of the bank
2.It is very important and historical victory of our affiliate and their comrades for which they successfully fought relentlessly. We convey our heartiest congratulations
to their General Secretary, Shri C.N.Prasad ( Vice President, AIBRF) and his entire team for this significant achievement.
3. It may be clarified to avoid possible quarries that the above two benefits are already available to the pensioners of other banks through efforts of AIBRF. Benefit of 1684 point was extended to pensioners retired under 7 settlement as per the
provisions of 8th settlement and AIBRF affiliates successfully fought in Supreme Court for 5 years notional benefit and about 1 lakhs affected pensioners were given this benefit by banks in 2009 as per the court order.
With Warm Regards
Yours Sincerely,
( S.C.JAIN)
GENERAL SECRETARY
Unquote
Quote
Ref:2018/017
Date : 10.02.2018
The Office Bearers/ Central Committee Members/State Body Chiefs
A.I.B.R.F
Dear Comrades,
Re: SUPREME COURT JUDGEMENT IN FAVOUR OF SBM
RETIREES
We are happy to inform that Supreme Court has delivered two important judgments in favour of retirees of State Bank of Mysore. Our affiliate, State Bank of Mysore Pensioners’ Commune was fighting this legal battle for last several years to protect interest of large number of retirees in the bank. Details of the judgement are as under:
(a) Benefit of 1684 points neutralisation should be extended to those who retired between 1998 to 2002 ( 7th wage settlement)
(b) 5 years notional benefit in fixing basic pension as per Regulation No. 29 of Pension Regulations should be extended to those who took VRS under Special VRS Scheme of the bank
2.It is very important and historical victory of our affiliate and their comrades for which they successfully fought relentlessly. We convey our heartiest congratulations
to their General Secretary, Shri C.N.Prasad ( Vice President, AIBRF) and his entire team for this significant achievement.
3. It may be clarified to avoid possible quarries that the above two benefits are already available to the pensioners of other banks through efforts of AIBRF. Benefit of 1684 point was extended to pensioners retired under 7 settlement as per the
provisions of 8th settlement and AIBRF affiliates successfully fought in Supreme Court for 5 years notional benefit and about 1 lakhs affected pensioners were given this benefit by banks in 2009 as per the court order.
With Warm Regards
Yours Sincerely,
( S.C.JAIN)
GENERAL SECRETARY
Unquote
Congrats to all effected employees n hearty Thanksgiving to whom make the goal..
ReplyDeleteSir I presume that Retirees from 1998 to 2002 are eligible as per the Jufgement. Pl clarify. Hope arrears will be paid up to 30.04.2005 from the date of retirement.
ReplyDeletePl clarify.
I concur with S.Nathan an. As per ST judgement all pensioners retired during 1998 to 2005 will have to get arrears for 4 years with interest at 9%.Pl clarify in your next circular.
ReplyDeleteIBA has already issued a circular to All Banks on 17-08-2009 based on a Supreme Court judgement with regard to interpretation of section 28 and 29 of pension regulation act. Vide their circular no. CIR/HR &HIR/76/L-43H/G2/2009-2010/1134 dated 17-08-2009 This benefit has to be given from the date of retirement. With regard to payment of FPA,PQA the act of 1995 includes these as of contributing and has to be added with salary of last drawn 10 months for arriving at average salary and to arrive at Basic Pension.
ReplyDelete