Updation Clause in pension Regulation

[Narayanan Venkateshwaran]

It is universal practice to permit updation wherever defined pension scheme is in vogue unless otherwise  specifically  denied in the regulation. It is strange and perplexing to note that in Bank Employee's pension regulation alone  a reverse  specific clause permitting  updation is looked  for. Are Bank pensioners  a "cursed lot" when similarly placed pensioners in other walks of life have already walked away with updation more than once. 

The plaintiffs over stress on 35(1) for updation though may look reinforcing is not in the call considering what is discussed here in earlier paragraph. 

Hope the advocates of plaintiff take note of the same in next hearing.The govt cannot raise the bogey of paucity of funds which thought should have occured to them when pension scheme was 

adopted. 

The govt did not commence the scheme with empty coffers, for, substantial amount got transferred from PF Fund. 

It is amusing that some of us foster the hope of achieving updation by negotiations. One wonders where from money will prop up then for govt? 

It will be an act of magnanimity on the part of govt to release the fund now paving the way for withdrawal of  case in SC 

Will they? 

C V Narayanan