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Head Office Personnel Services Department 3 & 4 DD Block, Sector 1,  Salt Lake  Kolkata - 700 064	UCO BANK	Tel: 033-23348885 Fax: 033-23216883 e-mail: hopf.calcutta@ucobank.co.in

 

NOTIFICATION FOR ALL CONCERNED

 

Subject:

Eligibility criteria for Pension Optees those who opted for Pension in response  to  one more option for Pension in terms of Industry Level Settlement / Joint  Note dated 27/04/2010  between IBA and various Unions & Associations

 We  are receiving representation from our ex- employees about the eligibility for Pension as there are few such ex employees who are not eligible for Pension in terms of the above noted Settlement/Joint Note dated 27/04/2010and have also applied for Pension.

 We reiterate below the relevant part of the Bank’s CIRCULAR NO: CHO/PMG/ 18/2010-11 dated 20/08/2010 which inter- alia specify groups of ex-employees, in-service employees as well as qualified family members of employees, eligible to opt for Pension in terms of the Settlement.

Quote

“WHO CAN OPT

 

1)   Employees who were in service any time before 29^th September 1995 and were/are  in service on or after the date of Settlement /Joint Note dated 27/04/2010 and did not opt for Pension in response to our earlier offer or revoked Pension Option  earlier  and

 

2)   Employees who were in service any time before 29^th September 1995 and did not opt for Pension in response to our earlier offer  or revoked Pension Option and retired  before the date of Settlement /Joint Note dated 27/04/2010  and

 

3)   Employees who were in service any time before 29^th September 1995 and did not opt for Pension in response to our earlier offer  or revoked Pension Option and voluntarily retired by Special Scheme( VRS 2000) ,after putting a minimum period of 15 years of Service     and

                                                                                          

4)   Eligible family members of the employees who were in service any time prior to 29^th September 1995 and did not opt for Pension in response to our earlier offer or revoked Pension Option and retired and expired subsequently before the date of Settlement/Joint Note as mentioned above and

 

5)   Eligible family members of the employees who were in service any time prior to 29^th September 1995 but did not opt for Pension in response to our earlier offer or revoked Pension Option and expired during the service period before the date of Settlement/Joint Note as mentioned above.”       UNQUOTE

 It is further clarified by IBA vide their circular dated August 10, 2010 bearing no:CIR/HR&IR/G2/665/90/2010-11/999 that ,

 

QUOTE “ In terms of Memorandum of Settlement dated 27/04/2010, in the case of workmen employees and Joint Note dated  27/04/2010, in case of officer employees, those who ceased to be in service on account of retirement on superannuation, death or on account of VRS under Special Scheme prior to 27/04/2010 but after 29/09/1995 from nationalized Banks……… are eligible to opt for joining the pension Scheme as retired employees subject to the terms and conditions stipulated …………………”UNQUOTE

 

The matter is once again notified for all concerned.

General Manager

Personnel Services