Re: BOB - EXTENSION OF DATE - OPTION ON PENSION TO RESIGNEES

[MOHAN P]

https://acrobat.adobe.com/id/urn:aaid:sc:AP:49b5be00-48a9-4870-a57e-af62402cc1db

On Tue, 28 May, 2024, 9:03 am MOHAN P, <moha...@gmail.com> wrote:

BOB.

Extension of option on pension to resigned employees

[Arun Sharma]

Hello Sir,

In this circular issued by BOB , there is no mention of 20 years of service requirement for eligibility. 

Is it still the basic requirement?

Thanks

Arun Sharma  

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[MOHAN P]

Mr Arun Sharma,

The circular of BOB mention clearly that 20 years service us required to apply for option on pension to resignees,as follows:

"The employees/officers who were in service of the Banks on or after 01.01.1986 and had joined the Banks before 01.04.2010 and who have resigned from the services of the Bank on or before 26.04.2010 and who were otherwise eligible to join the pension scheme while in service (those who have completed 20 years of qualifying service) will be given an option and opportunity to join the pension scheme and who agree to refund to the Bank the entire Bank's Contribution to Provident Fund (along with accumulated interest thereon) received by them at the time of their resignation or later from the Bank"

Please go through the Cir.

Regards

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[Kalyanasundaram Subramaniam]

See Para 4.2

Re=FFi6Eyees/officers who were in service of the Banks oA oF after 01.01.1986 and had joined the Banks before 01.04.2010 and who have resigned from the services of the Bank on or before 26.CH.2010 and yao were otherwise eligible to join the pension scheme while in service (those who have completed 20 years of qualifying service) will be given an option mLB;; pension scheme and who agree to refund to the Bank the entire Bank’s Contribution to Provident Fund {along with accumulated interest thereon) received by them at the time of their resignation or later from the Bank.

S Kalyanasundaram

[Ramani Konnayar]

It is mentioned in page 6 - item 4(2) 

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[Mahalingam Krishnamurthy]

Dear friends 

The issue of refund of Bank's contribution to P.F. alongwith interest,  is creating confusion.  One interpretation is, interest to be paid on the Bank's  contributions till date ( i.e. upto  the date of commencement of pension payment). The other interpretation is that the amount of bank 's contribution received alongwith interest  , at the time of relieving.

Shall be thankful for an appropriate interpretation,  on the issue. 

K.MAHALINGAM 

UCO Bank Resignee.

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From: bankpe...@googlegroups.com <bankpe...@googlegroups.com> on behalf of MOHAN P <moha...@gmail.com>
Sent: Friday, May 31, 2024 2:38:33 PM
To: bankpensioner <bankpe...@googlegroups.com>
Subject: Re: bankpensioner Re: BOB - EXTENSION OF DATE - OPTION ON PENSION TO RESIGNEES

 

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[R Balaji]

It is

the amount of bank 's contribution received alongwith interest  , at the time of relieving.

R BALAJI

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[Visvam Ambattur]

You need to refund only the amount you got from the bank at time of resignation and/or subsequently due to any reason 

Need not pay interest till date.

Regards,

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[MOHAN P]

Dear Mr Mahalingam, 

Need not have any confusion on refund of banks portion of PF on option of pension by resigned employees. 

Bank's cir Or Settlement is crystal clear on the subject.

Pl read below:

“b) Who agree to refund to the Bank the entire Bank's contribution to Provident Fund (along with accumulated interest thereon) received by them at the time of their resignation or later from the Bank” 

Only bank's contribution along with accumulated  interest thereon received at the time of resignation need to refunded and no where it is mentioned pay up date interest there on. 

No question of any interpretation than bank's official, Circular issued. 

Regards

Mohan.P

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[Mahalingam Krishnamurthy]

Dear Mohan ji

Thank you very much for your clarification on the issue.

Mahalingam. K.

UCO Bank resignee.

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From: bankpe...@googlegroups.com <bankpe...@googlegroups.com> on behalf of MOHAN P <moha...@gmail.com>

Sent: Monday, June 10, 2024 5:40:57 PM

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[S Ramanathan]

I am a resignee of UCO Bank. I left the bank 27 years back after 20 years 3 months service.

So many years have passed and I misplaced/ lost all my documents relating to service in the bank.

UCO bank is asking for at least one payslip, last 10 month salary details and PF settlement statement.  All of these I don't have.

Can anyone guide me how I can claim pension benefits from UCO bank without any document?

I notice that PNB did not call for any such document compulsorily (it only says last 10 months details if available) whereas UCO says branch should not accept application unless complete with all documents such PF settlement statement, at least one pay slip etc.

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[S Ramanathan]

I am a resignee of UCO Bank. I left the bank 27 years back after 20 years 3 months service.

So many years have passed and I misplaced/ lost all my documents relating to service in the bank.

UCO bank is asking for at least one payslip, last 10 month salary details and PF settlement statement.  All of these I don't have. I requested the bank to either provide me the details or advise me how to go about but there is no reply so far.

Can anyone guide me how I can claim pension benefits from UCO bank without any document?

I notice that PNB did not call for any such document compulsorily (it only says last 10 months details if available) whereas UCO says branch should not accept application unless complete with all documents such PF settlement statement, at least one pay slip etc. I am not allowed to submit application directly to HO also as per Circular.

[R Balaji]

You may call your HO and ask for their help

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[MOHAN P]

Dear Mr Ramanathan,

Note that you are eligible for option on pension as per terms stipulated, provided you refund the banks share of  PF amount with interest.

Learn that you have lost all records related to your employment with bank.(UCO)

Under this back drop first and foremost thing is please try to record your claim with your bank,(Within stipulated period) at the earliest with HO /Branch with available details such as date of joining, date of resignation,branches served /or any such vital information so as to enable them to search your service records.Naturally bank has to provide the details.

Even if the process is delayed you may get pension, once the refund is completed.

Get an acknowledgement from bank on your claim so that in future you can follow up the matter.

Seek assistance of your bank's retirees association too in this regard.

Regards

Mohan.P

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[S Ramanathan]

Thank you very much. 

For the last one week, I am running from pillar to post requesting for details. No one has helped me so far either from the concerned branch or from HO.

My problem is no branch will accept my application since UCO circular does not allow branches to entertain application without the records. HO circular also says that it will not entertain applications directly sent to it.

I am clueless how I can force the bank to accept my application.

Just wondering if there are any such persons in the same predicament as mine. If so, how they are approaching the matter. 

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[Ramalingam k.k]

Kindly chck your gmails during the period. Any sofy copies possible. Also check your form 16 filed with IT. It may contain.

Ramalingam

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[Ultimate Recruiters gangadhar]

i am gangadhar ex employee of Andhra bank,

i have exit from bank in year 2005, after completing 21 yrs of service

i was given monthly pension , but not given leave encashment, 

can any one help me ?

gangadhar

mumbai

8454097057

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[Arun Sharma]

Hello Sir,

Is there any hope for resignee bank employees, who have put in service of 10 years and above but less than 20 years, to opt for pension as agreed and approved by Ministry of Finance in March 2024, which does not specify that minimum service of 20 years requirements, which is an addition made by PSB banks in their circulars issued. I guess no one is raising any concerns and looking at this opportunity that should also be available to such resignee employees of PSB . 

Had such affected employees known this 20 years stipulation and many of them who more than 15 years of service would have given a second thought before resigning and had continued their services to complete 20 years, to get pension benefits that are available now. 

Regards,

Arun S

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