Tuesday, November 12, 2013

Pension option to Resignees/VRS News!!

Pension option to Resignees/VRS News!!

It is almost certain that all bank employees(opted for P.F in 1995) who resigned thereafter is going to get 2nd pension option. Yes, read the following

12.11.2013: Punch No.3
High court of Karnataka on 25.,10.2013 dismissed the REVIEW petition by Vijaya Bank on the above subject.


 31.07.2012: Punch No.2:

News received from 
Venkatesh Sheena Shriyan,
Treassurer, UFOPFO, Maharashtra,
This is to inform that the APPEAL by Vijaya Bank against the order dated 18th april 2012 by hon’ble Mr. Justice H.N. Nagamohan Das for granting pension to the resignees in the writ petition number 24158-24160/2011 in the bangalore high court was dismissed today 30thjuly 2012.

23.05.2012:  Punch No.1

First punch on the face of IBA and unions!!

 Yes, In a case by resingned bank employees
(C. Narashimhappa and others)Vs Vijaya Bank
High Court of Karnataka gave historic verdict that
 Resigned Bank employees also
Eligible for pension (second option)!! 

This shows that settements between IBA and Unions are not final unless it provides natural justice to all employees!!

Expect many more punches!!


Medhaavi said...

One hopes that atleast now IBA and bank managements will become considerate and shed their inhibitions and false notions about making resignees ineligible for pension.

Medhaavi said...

The update as per www.allbankingsolutions.com is that Vijaya Bank's SLP in Hon'ble Supreme Court was dismissed and Vijaya Bank management has informed Hon'ble Karnataka High Court that they will pay pension to the 22 resignees who filed the case within 4 weeks.

One only hopes that the issue is considered in a just and humane manner by IBA and IBA will advise all the banks to allow 2nd pension option to resignees / exit optees / CRS cases etc without any further delay, if these have the requisite qualifying service.