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CourtOnceAgainSlapsUnionBankandIBAforFramingAPolicyDenying2ndPensionOptiontoCompulsoryRetiredBankers
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CourtOnceAgainSlapsUnionBankandIBAforFramingA
PolicyDenying2ndPensionOptiontoCompulsoryRetired
Bankers
by
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RajeshGoyal
In the past also we have exposed the antiemployee attitude of IBA on number of occasions
wheretheyhavegivenwrongsuggestionstoBanksandaskedthetopmanagementtodragthe
casesuptoSupremeCourt,thoughtheywerewellawarethattheirargumentsarefaultyand
willnotstandthescrutinyoftheCourts.Theirattitudehasbeentodragtheseniorcitizens
totheextentwherenumberofthemdieduringtheirfightsintheCourts.
The worst part of this whole fight is the attitude of the leaders of UFBU, who have never
supportedtheseniorcitizenswhohavemeagerresourcestofighttheircasesintheCourts.
http://www.allbankingsolutions.com/WageRevision/2ndPensionOptionDenial/UBIMadrasHCJudgmentPensionCRbankers.htm
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CourtOnceAgainSlapsUnionBankandIBAforFramingAPolicyDenying2ndPensionOptiontoCompulsoryRetiredBankers
Rather UFBU leaders have indirectly supported the bank management and IBA in such
cases.Recently,oneoftheexAIBOCofficialhasgonetoCourtagainsttheGoIsdecisionto
appointMDsbyanopencompetitionfromprivateandpublicsectorofficials.Whyhenever
botheredaboutthefateoftheretiredbankerswhoarerunningfrompillartoposttoget2nd
Pension Option and for 100% DA neutralization. There is strong perception among the
bankersthatthisexAIBOCofficialhadfiledPILformotivatedpersonalissues.Lotofpeople
wouldhavecometosupporthimeveninthisfight,ifhehadeverfoughtforbankersafterthe
lastBPS.Now,everybodyistreatingthePILbyhimtobeonlymotivatedtogetafootholdas
hehasbeenuprootedbyanothersetofleadersinPNB.Forlast5years,noUFBUleaderhas
filedorfoughtanyCourtcase on the obnoxious clauses introduced by IBA in its circular of
2nd Pension option. Inspite of all the Court judgments favouring the retired bankers,
neither UFBU leaders nor IBA top brass has felt ashamed for doing injustice to senior
citizen.
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Coming back to the present case, the Court in its verdict has
concludedanddirectedtheBankthefollowing:
In an article in March 2015, under the heading UFBULeaders Needs to Discuss Matters
RelatingtoRetireesWithRetiredBankerGroups,Ihaveclearlymentionedasfollows:
The above demands (i.e. demand of 2nd pension option to left over bankers, 100% DA
neutralization) are absolutely genuine and has legal sanctity and needs to be implemented
withoutfail.IfUFBUstickstoitsguns,thereisnoreasonthatIBAwillnotagreeforthese
two demands. Thus, with minimal efforts, UFBU can take credit for getting the above two
demandsmetbyIBA.IncaseIBArefusestoconcedeanyofthesedemands,UFBUshould
clearlymentionthatitreservesitrighttogotoCourtonbehalfoftheretireesasitperceives
thatdenialofthesetwodemandsisillegal.
However,neitherIBAnorUFBUleadersseemstobeinterestedtohelpthepensioners.Now
only Courts have come to the rescue of retired bankers, and now they will have no moral
groundeventotakecreditevenifthesameareagreedbyIBA. Remember,nowUFBU
hasnotonlytofight2ndpensionoptionforleftoverwithretrospectiveeffecti.e.
November2009,butalsowithaninterestattherateof18%onarrears.IfUFBU
agreeswithlessthanthis,itwillbeviolativeoftheCourtguidelinesandisaopentreachery
withtheretiredleftoverbankers.NowUFBUhasnoauthoritytoenterintoanagreement
that abrogates these rights of the left over pensioners. If IBA insists on any lower rate of
interest,UFBUmustmakeitclearthatithastherighttogotoCourtandwillnotbebinding
bytheagreementtothisextent.Ithink,IBAandBanksmustsharethisadditionalburdenfor
the harassment they have forced on the poor retired bankers, some of whom must have
alreadydiedinthehopethattheywillgetpension.
http://www.allbankingsolutions.com/WageRevision/2ndPensionOptionDenial/UBIMadrasHCJudgmentPensionCRbankers.htm
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4/18/2015
CourtOnceAgainSlapsUnionBankandIBAforFramingAPolicyDenying2ndPensionOptiontoCompulsoryRetiredBankers
For those people who are interested to know exactly the reasons for allowing this
retrospectivepensiontocompulsoryretiredbankers,Iamgivingbelowthequotesfromthe
judgment,whichareofgreatimportance:
Union Bank of India issued circular no.5690 dated 27 August 2010. The Circular has to be
read in the light of the Pension Regulations, 1995. The circular is only for the purpose of
giving another option to join the scheme. The pension scheme remained the same viz., is
noneotherthanUnionBankofIndia(Employees)PensionRegulations,1995,whichprovides
forcompulsoryretirementpension.
EventhoughClause7ofthecircularrestrictedthebenefitsofthosewhoretiredvoluntarilyin
terms of regulation 19, the fact remains that pension regulation has not been amended
correspondingly.Therefore,asontoday,thereisavalidregulationprovidingforpensionto
thecompulsoryretirees.
In case the Bank is of the view that pension should be restricted to those who have retired
voluntarily,theyshouldmakecorrespondingamendmenttothepensionregulations.
ThePensionRegulations,1995,isstatutoryinnature.Thecircularwasissuedonlypursuant
tothesaidregulation.Thecircularcannotoverridetheprovisionsoftheregulations.It was
only to give one more option to the employees, the circular was issued. Thecircularcannot
thereforerestrictthebenefitsofoptiontoasetofemployeesnotwithstandingexistenceofthe
regulationwhichprovidesforpensioneventocompulsorilyretiredemployees.
Thepetitionerisentitledtocertainservicebenefitsonaccountofhiscompulsoryretirement.
In fact, in the earlier round of litigation, this Court made it very clear that the
petitioner should not lose benefits which accrued to him for the service
rendered by him, till the date of compulsory retirement. Such being the case, the
Bank was not correct in incorporating Clause 7 for the purpose of denying benefits to
compulsorilyretiredemployees.IamthereforeoftheviewthatClause7shouldbequashed
insofarasitrestrictsoptiontojointhepensionschemebycompulsorilyretiredemployees.
Fulljudgementcanberead/downloadedbyClickingHere
AreUFBUleadersnowlisteningthevoiceofretiredbankers?
TheymustensurethatIBAnowgivestheduesharetoretired
bankers.
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4/18/2015
CourtOnceAgainSlapsUnionBankandIBAforFramingAPolicyDenying2ndPensionOptiontoCompulsoryRetiredBankers
Tamilnadu&Mr.T.VinayakestablishedthecontactwithPetitionerandadvisedtofileCaveat
beforetheDivisionBenchofMadrasHighCourt,beforeBankfilesWAandpleadsforstayto
theorderdated01/04/2015.
Youcangiveyourfeedback/commentsaboutthisArticle.Pleasegiveonlyrelevantcommentsasirrelevant
commentsarewasteoftimeforyourselfandourotherreaders.
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