Three Judge Bench of Hon’ble Supreme Court has dismissed the Civil Appeal filed by the SBI with regard to extension of pension benefits to those employees who retired from the service of the Bank after rendering service over 15 years, but less than 20 years under SBI Voluntary Retirement Scheme - 2000/01.
 Following lines from Hon’ble Supreme Court in this Judgment are reproduced below

"This Court observed that the principal aim of the socialist State as envised in the Preamble is to eliminate inequality.  The basic framework of socialism is to provide security in the fall of life to the working people and especially provides security from the cradle to the grave when employees have rendered service in heydays of life, they cannot be destituted in old age, by taking action in an arbitrary manner and for omission to complete obligation assured one."

 Click here to view the copy of full judgement

Bipartite talks between UFBU and IBA on 29th Feb 2020

During  Bipartite talks between UFBU and IBA on 29th Feb 2020 following points pertaining to pensioners emerged.
Improvement in Family Pension –matter recommended to Government, will be expedited.
 On updation, IBA agreed that some improvement in the Pension would be worked out for the retirees of earlier settlements period by working out the cost.