Consumer Forum court decision in favour of VRS OPTEE of SBM for second PENSION OPTION

[Rajagopal Shankaranarayana]

Dear All,

 

We reproduce here beow the Consumer Court case verdict on pension which is some solace for all. 
Though it is a very good judgment to have a sigh of relief, the following must also be considered.

What is the jurisdiction of Consumer court on Labour or Bipartite settlement issues?
What is the reason for awarding pension from April 2009 when the second pension option is eligible from 27.11.2009 as per joint note agreed between Union representatives and IBA?.

 

	bmfee...@indiatimes.com
Retd bankers, time to claim your rightful pension   All thanks to an ex-SBM manager who knocked on the doors of consumer court after she was denied her entitlements   S Kushala bmfee...@indiatimes.com      All you bankers of SBI and its associate banks who voluntarily retired under the Exit Option scheme (PF option), note down this consumer court case number — 2382/2010, S K Vidya versus the managing director, State Bank of Mysore and Indian Banks Association, Mumbai.    It’s time to go back to your bank to claim your entitlement of monthly pension under the revised service regulations. All thanks to a case successfully fought by one of your own tribe and the Dec 10 court order that will benefit thousands of retd. bankers.    When S K Vidya, a manager with State Bank of Mysore decided to hang her boots in 2007 after a 25-year career, all she wanted was to concentrate on her growing up children. The exit option (PF optee) of voluntary retirement scheme that she went in for, gave her PF, gratuity and ex-gratia of three years’ salary.    In April 2010, the Indian Banks Association (IBA) with bank trade unions, brought in new service regulations to offer pension to officers who retired voluntarily without opting for the pension scheme. This, with retrospective effect from November 2009 with a cut-off for those who retired from March 1996 onwards.    When Vidya applied for pension under the new regulations, SBM took exception stating that exit optees were not eligible as per IBA guidelines. Armed with the rulebook — norms indicated in the new pension regulations — Vidya contested the SBM/IBA’s move and filed a case in the consumer court in October. She fought the case independently without a lawyer. On Friday, an order was passed by the first additional district forum court Judge H V Ramachandra Rao, that upheld Vidya’s contention. The judgment says that those who opted for the exit option, also a voluntary retirement scheme, were entitled for pension which IBA had not considered.    The court has ordered the bank to bring Vidya under the new scheme, pay her pension along with arrears from April 27, 2009 after suitable deductions and Rs 2,000 towards the cost of the complaint.    “SBI’s associate bank officers who have opted for retirement under the PF option scheme can quote this order and avail pension. I fought the case through the consumer forum independently without the assistance of an advocate for the simple reason that consumer forums are superfast in their judgment. This order will benefit thousands of retired bankers,’’ says Vidya, who retired as a class III officer.   S K Vidya

 

Let us hope for the best in near future.

Thanks and Regards,
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R.Shankaranarayana
Manager - Internal Audit
Bank Dhofar
Muscat
00 968 98014252

Be Confident. Try & Try till you succeed in Life.

[Narasaiah Ch]

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From: Rajagopal Shankaranarayana <rsnara...@gmail.com>
Sent: Sun, 12 December, 2010 11:58:17 PM
Subject: bankpensioner Consumer Forum court decision in favour of VRS OPTEE of SBM for second PENSION OPTION

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