VRS Optees Now Given 2nd Pension Officer  - IBA Circular 

by

Rajesh Goyal   

Thank God, finally IBA has to bow to before the justice.   Now IBA has issued its circular addressed to Chief Executives of Banks for release of 2nd Pension option to those who had taken Voluntary Retirement from the Bank's service on or after 29.6.1995 in case of nationalised Banks / 26.3.1996 in case of Associate Banks of SBI in terms of rules framed by each Bank's Board pursuant tothe proviso  to Regulation19(1) of Bank officers' Service Regulations, 1979.   We are giving below the copy of the IBA circular.

We have been taking up the issue for release of 2nd Pension option  for all the left over bankers for last two years.   The constant fight by the left over bankers at various forums, including in Courts, has left no option but to bow to the demand of the bankers, but once again IBA has been able to manipulate and is still in denial mode for release of 2nd Pension option to resignees (i.e. other than those who took VRS).   

Now, resignees have to continue the fight, and VRS optees needs to continue their support in an  effort to get justice even to resignees.    We, at AllBankingSolutions.com will continue this fight and support them at all levels.   In the meantime, I would request to all the resignees to send us the details and latest status of all the cases already decided in their favour or pending at various courts so that we can consolidate the same and take up the issue strongly.    Let them collect the different rules framed by each Bank under Regulation 19(1) and bring out contradictions and fight the same in Courts and other forums.   I will soon trying to consolidate such material and then launch the strategy to continue this fight.