Request for clarification regarding 5 years weightage to VRS 2000 before the Golden Handshake

[Subramanya Rao]

Respectful Greetings
I took VRS in June 2000 from Vijaya Bank (as Asst.Manager) after completing 24 years service.. In light of the latest Supreme Court Judgement for payment of arrears of 5 years weightage
I was not included. When I asked our Pension department, the reply was that the 5 year weightage has already been paid to employees
who were relieved in the year 2000. This does not appear to be logical since the Bank has always been reluctant to extend the weightage to retirees. No further query was entertained by them.

What is the factual and legal position. I request a clarification in this regard.
Regards
N.Subramanya
9845436077

[real banker]

Mr Rao

Change in Pension rules were unilaterly effected by Banks for SVRS people only - for those who have retired under Normal VRS, this 5 year weightage reduction was not to be applied. 

The Pension regulation MOU says: 

"The qualifying service of an employee voluntarily retiring on completion of 20 years of actual service shall be increased by a period not exceeding five years, so however, that the total qualifying service of such employee shall not in any case exceed thirty three years and also shall not take him beyond the date of superannuation." Sec 29 of Bank Pension Regulations also deals with the same. 

Hence, your Bank may not have applied the 5 yr reduction in your case. It is not difficult to check the same from the amount of Pension fixed or Commutation Money paid - ie whether your pension has been computed bases on 24 yrs or 24+5=29 yrs service. 

? Regards

Sudershan Pal
REAL BANKER

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[Pravin Vaidya]

As far as I remember Sp. VRS was introduced in Public Sector Banks(PS Banks) in later half of year 2000 and Sp. VRS optees were relieved in Dec 2000(In case of PNB & BOI) and in March 2001(In case of remaining Banks) Since you have exercise an option of VRS( and not Sp. VRS)  earlier I feel Bank would have given the benefit of five years notional addition while calculating your pension. You may however check the pension sanction letter  given to you after retirement.

Pravin Vaidya Ex-AGM State Bank of Saurashtra

Vadodara

[Arunakumar Subramaniam]

sir,

 

pls clarify me whether this weighatage of 5 years is applicable

 

to SBI PENSIONERS  also.

 

s.arunakumar

9884731238 

[Narinder Sharma]

Dear Friends,

A close friend of mine, who has completed a service of 30 yrs & 4 months, recently had a severe heart attack. He now wishes to seek  voluntary retirement on health grounds. Please give your valuable suggestions whether he will get the notional benefit i.e.service of 33 yrs will be considered for the purpose of calculation of basic pension?     

Thanks and regards,

Narinder Sharma

SVRS Allahabad Bank

[S.R.Rajaraman]

If I am correct I feel that your friend may get full pension since he has completed more than 28 years of service.

S.R.Rajaraman

[Rakesh Kulshrestha]

Gentleman COM.,

WEIGHTAGE OF 5 YEARS AS PER LAW IS APPLICABLE  TO THOSE

WHO REALLY COMPLETED 28 YRS ACTUAL SERVICE TO MAKE 33 YRS SERVICE FOE ELLIGIBILTY OF FULL PENSION.FOR EXAMPLE SAY IF SOMEONE AFTER COMPLETING 27YRS SERVICE & TAKES VRS,HE IS NOT ELLIGIBLE FOR FULL PENSION WHILE YOU ITSELF APPLIED FOR VRS JUST IN 24YRS SERVICE...

DR R.K.KULSHRESTHA(VRS)

[R Balaji]

Pension optee may get addl 5 weightage after completion of 20 yrs of service

[Dipak Kumar Nandy]

Hi

If this is the case i.e- after complete 28 years of service any employee get full pension then I am not getting the full. I have completed 32 years 5 month and I am getting the pension in the ration of 100 *32 /33, if you consider 100 is the basic pension.

Could you please let me know your views that should I get the proper pension.

On Fri, May 16, 2014 at 8:08 PM, Rakesh Kulshrestha <rk07...@gmail.com> wrote:

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Dipak Kumar Nandy

Retired Officer, Patipukur Branch

Bank Of Baroda

(M)-9836675172

[Dipak Kumar Nandy]

Dear Mr. Balaji

Thanks for your reply. According to you I should get the full amount of pension which I am not getting now. So what I have to do please suggest.

[R Balaji]

It should not go beyond your age of 60. Pl check the date of your retirement and whether it is upto 55 years. If it is above 55 then it will be less

[Hans Raj Manuja]

Dear Mr Dipak kumar Nandy,

                                                My knowledge is limited and I am not very sure whether I am right or wrong.I hope other friends would be able to give exact position.I think 5 year weightage was only in the case VRS when employees were given the offer to retire at the age 55. In all other cases length of service for full pension is 33 years.

On Tue, May 20, 2014 at 1:04 PM, Dipak Kumar Nandy <dipa...@gmail.com> wrote:

[R Balaji]

as per pension regulation ' after completion of 20 yrs any body can seek VRS under pension regulation by giving 3 months' notice and if accepted he will get pension and 5 yrs notiional weigntage will be added'

[Joginder Pal Verma]

no comments

[L S RAMAN]

You are eligible as per the various judgements of the Hon Supreme Court of India.Pl write a letter to the CMD and if no action is taken you my have apply gfr legal remedies.

Dr.Raman.L.S.

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[Sureshbhat M]

Dear subramanya

pls check your PPO order. 5 years notional service was given to all except SVRS retirees : may be in your Bank also. Your Basic pension fixed may be at 29/33 %. Pls check.

Suresh Bhat M 

On Tue, Aug 26, 2014 at 4:41 PM, Joginder Pal Verma <jogi...@koovs.com> wrote:

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[Veerraju]

 Dear Subramanya rao

 In Vijayabank  the Spl VRS staff were not given 5yrs wtage when other banks obeyed supreme court verdict and on IBA directions way back in 2009.

 certain banks like, UCO, VIJAYA BANK, SBM  allaha bank did not consider to allow 5yrs wtage  till recently.

In case of Vijayabank , SBM   when high courts interveneby calling its CMD toattend , this aspect was considered to its vrs retirees within 3months time.

 your pension be revised after giving 5yrs wtage  during recent months .

pl check with your counterparts in vijayabank & also yr pension remitted bank account to this effect . Your basic pension should increase by 19% after wtage .

\P.C. VEERRAJU

General Secretary,ubi vrs AP

303 Parameswari Apartments
Plot 95 Moti Nagar, HYD, AP - 500018

94924  32983

[ANIL KELKAR]

Dear Subramanya Rao.....

 

According to me 5 years notional service weightage was not given to only those employees who took VRS as per Bank`s scheme in terms of circular issued in Sept.2009. Pension to those who had taken VRS as per Special VRS scheme was started only after that. This was in terms of Joint note of 27th April 2010. You had taken VRS in June 2000. Further as per circular another second option was given to those employees who did not opt for pension earlier. Please check the calculation sheet sent to you by the Bank while fixing your basic pension on your retirement under VRS wherein you will find the number of years of service you have put in taken for the calculation.

 

Kelkar

[cpvnair]

As per my information, only THREE Associate banks -SBM,SBT &SBH remain in the scene.All other banks have paid/arranged to make payment in respect of 5 year weightage issue for VRS optees.SBM's case has reached the Supreme Court.

 

 

warm reg

 

 

CPVNAIR

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