Thursday, January 29, 2009
Pension for svrs optees less than 20yrs
The cases filed and won by Chandigarh SVR optees who put less than 20 yrs of service in Chandigarh Division Bench, is listed for hearing in Supreme Court on 10th Feb 2009. Our members from Chennai has filed an intervention Petition in Supreme Court and pleaded to be included as party in the above case. The final decision will be applicable to all employees and Nisvrea is taking all steps to co ordinate with the Advocate at Supreme Court level.
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SC Judgement in Civil Appeal No.1942 of 2009
Bank employees who opted for voluntary retirement in the year 2000 and who had already opted for pension, were denied the benefit of addition to qualifying service in terms of Pension Regulations. The said denial came by way of enactment of an amendment retrospectively to Pension Regulations.
The aggrieved VRS optees knocked the doors of the judiciary. Supreme Court after calling for all the cases pending in various High Courts in India, decided the Civil Appeal No.1942 of 2009 (arising out of SLP No.8050/2006) alongwith Civil Appeal Nos. 1943 to 1957 of 2009. The Division Bench comprising Justice RM Lodha and Justice DK Jain vide order dated 27th March 2009, held that that the employees who had completed 20 years of service and were pension optees and offered voluntary retirement under VRS 2000 and whose offers were accepted by the banks are entitled to addition of five years of notional service in calculating the length of service for the purposes of that Scheme as per Regulation 29(5)of the Pension Regulations, 1995. The contrary view expressed by some of the High Courts do not lay down the correct legal position.SC Judgement in Civil Appeal No.1942 of 2009
Bank employees who opted for voluntary retirement in the year 2000 and who had already opted for pension, were denied the benefit of addition to qualifying service in terms of Pension Regulations. The said denial came by way of enactment of an amendment retrospectively to Pension Regulations.
The aggrieved VRS optees knocked the doors of the judiciary. Supreme Court after calling for all the cases pending in various High Courts in India, decided the Civil Appeal No.1942 of 2009 (arising out of SLP No.8050/2006) alongwith Civil Appeal Nos. 1943 to 1957 of 2009. The Division Bench comprising Justice RM Lodha and Justice DK Jain vide order dated 27th March 2009, held that that the employees who had completed 20 years of service and were pension optees and offered voluntary retirement under VRS 2000 and whose offers were accepted by the banks are entitled to addition of five years of notional service in calculating the length of service for the purposes of that Scheme as per Regulation 29(5)of the Pension Regulations, 1995. The contrary view expressed by some of the High Courts do not lay down the correct legal position.
SC Judgement in Civil Appeal No.1942 of 2009
Bank employees who opted for voluntary retirement in the year 2000 and who had already opted for pension, were denied the benefit of addition to qualifying service in terms of Pension Regulations. The said denial came by way of enactment of an amendment retrospectively to Pension Regulations.
The aggrieved VRS optees knocked the doors of the judiciary. Supreme Court after calling for all the cases pending in various High Courts in India, decided the Civil Appeal No.1942 of 2009 (arising out of SLP No.8050/2006) alongwith Civil Appeal Nos. 1943 to 1957 of 2009. The Division Bench comprising Justice RM Lodha and Justice DK Jain vide order dated 27th March 2009, held that that the employees who had completed 20 years of service and were pension optees and offered voluntary retirement under VRS 2000 and whose offers were accepted by the banks are entitled to addition of five years of notional service in calculating the length of service for the purposes of that Scheme as per Regulation 29(5)of the Pension Regulations, 1995. The contrary view expressed by some of the High Courts do not lay down the correct legal position.SC Judgement in Civil Appeal No.1942 of 2009
Bank employees who opted for voluntary retirement in the year 2000 and who had already opted for pension, were denied the benefit of addition to qualifying service in terms of Pension Regulations. The said denial came by way of enactment of an amendment retrospectively to Pension Regulations.
The aggrieved VRS optees knocked the doors of the judiciary. Supreme Court after calling for all the cases pending in various High Courts in India, decided the Civil Appeal No.1942 of 2009 (arising out of SLP No.8050/2006) alongwith Civil Appeal Nos. 1943 to 1957 of 2009. The Division Bench comprising Justice RM Lodha and Justice DK Jain vide order dated 27th March 2009, held that that the employees who had completed 20 years of service and were pension optees and offered voluntary retirement under VRS 2000 and whose offers were accepted by the banks are entitled to addition of five years of notional service in calculating the length of service for the purposes of that Scheme as per Regulation 29(5)of the Pension Regulations, 1995. The contrary view expressed by some of the High Courts do not lay down the correct legal position.
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