2ND PENSION OPTION NOW IN ASSOCIATE BANKS AFTER 15 YEARS SERVICE TO VRS 2001

[Vn Bohra]

DEAR SIR;

recently in this month only associate banks of sbi has issued their circulars allowing 2nd pension option to VRS optees of 2001.

my quarry is i worked in sbbj and after 17 years i opted vrs in 2001. I WAS ALREADY A PENSION OPTEE.

now they are seeking 2nd option from us also. whereas they had retained ours PF (Bank contribution) never relased saying a pension optees. those who were pf optee got their bank contricution also when they got vrs.

now bank is demanding 156% from those only. the circular is not showing the date of start of pension, just taking the shelter of iba direction of 2010 settlement.

 

my enquiry is i was already pension optees, from which date i will get my pension. why seeking 2nd pension option from me also. my PF retaqined is around 3 times of 156% till date.

will i get pension from 2001 i.e. date of retirerment or not ? what will happen to my commutation since 14 years 9 months period is over now. will they pay interest ? please guide. i seek learned members opinion please. regards. v n bohra 09414042470 Jaipur.

[Mohandas Rao]

Dear Sri Bhora,

     As per the court judgment, you are eligible for  the pension. Since you were a pension optee at the time of your retirement, you have not received the bank's contribution of pension. Hence, you need not remit anything to get  the pension, unlike the others who have to refund the amount plus 56%.

    You have to submit your letter within the time limit, willing to receive pension/commutation. You will get commutation as on today, applicable to your present age. It needs a medical examination. Your restoration of commutation is 15 years from now. You are eligible for the arrears of pension from your date of retirement. 5 years notional addition of service you may not get, as the Associate Banks did not get it so far.

Regards, and all the best.

K. MOHANDAS RAO, SBM-VR 2001

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[Vn Bohra]

Dear K. Mohan das;

warm regards, happy new year.

thx for kind guidance.

if any guidance is required, hope you will guide me. 

my cell no is 09414042470 

please provide yours.

 

v n bohra (adv)