Recovery period for commutation

[Kalyanasundaram Subramaniam]

The following message is in circulation for the past two days. 

"Dear group members, the Govt.has prescribed time limit of 15 years for recovery of commuted value of pension paid after retirement. It was based on the prevailing rate of interest @ 12%. The rate of interest has been declining since 2006, which in 2010 was 8%, & presently hovering around 7%. So, I & Mr. RS Jindal, Retd. Sectt. Supdt.calculated that the entire amount of commutation @8% stands recovered in 10 years & 8 months. If the recovery is allowed to continue, the Govt.will be found to be enriching itself, the value of the same will come to 18.3%. Therefore, v filed separate petitions. In the case of Mr. Jindal the court in CWP 2490/2024 passed orders on 09/02/2024 staying future recovery. My petition 8222/2024 came up for hearing on 15/04/2024 & passed orders staying future recovery. Let it be known to all.
(Forwarded as received please in other group.)"

If anyone knows details like who is the author of this message, which court has passed orders etc. please share. 

S Kalyanasundaram 

[JSOMA SHEKARA]

I have attached relevant order copies.

--
Visit our blog site http:://bankpensioner.blogspot.com
---
You received this message because you are subscribed to the Google Groups "bankpensioner" group.
To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/cbeef741-3940-4fd7-a301-5e25fed90a57n%40googlegroups.com.

[JSOMA SHEKARA]

Now only 6 months remain for recovery of commutation. Commutation was sanctioned in 2009 and will end in Nov 2024.

[Niranjan Cn]

Sir even the word commutation’ is not there.  Further even in the tagged case - commutation is not involved.  No banks are involved.  Are we jumping the gun.  First nothing to with bankers and nothing to with commutation itself.

Please inform if I am wrong.

Niranjan

To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/CAM%3DeiW1FH1968aFU3qqnrdEowdS--VxtX4U5pW9e%3Dwa7e3S6CQ%40mail.gmail.com.

[Ramaswamy S]

Dear Somasekara Ji

I am also a VRS optee (April 2001) and my PPO issued by Union Bank specifically states as  under.

Date of commencement of  reduced	01.11.2010
monthly pension
Date of restoration of full pension	01.11.2025

To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/CAM%3DeiW3VfE%2BuLGCs_n%2BY5JdELMs_4o4EBEHCsJdC%2BVsgx9%3DTGQ%40mail.gmail.com.

[Kalyanasundaram Subramaniam]

Thanks Mr JSoma Shekara

S Kalyanasundaram 

[Daum.net]

Hai Sir,  Please arrange to provide a copy of court judgement if possible please

To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/CAM%3DeiW1FH1968aFU3qqnrdEowdS--VxtX4U5pW9e%3Dwa7e3S6CQ%40mail.gmail.com.