RECOVERY OF COMMUTATION IN 12 YEARS

[JSOMA SHEKARA]

THIS IS IMPORTANT FOR THOSE WHO OPTED FOR PENSION IN 2010.

There is demand for recovery of Commutation in 12 years. In this regard two pensioners had filed WP in Punjab and Chandigarh High Court.

WP 2490/24 and 8222/24

In both WP Court heard and stayed future recovery of commutation till further order.

Copy of the order attached.

[Hans Raj Manuja]

I am a 2010 second pension optee ! I, like many other, feel that we have paid back much higher amount than the amount of commutation. But what can we do? It is not possible for any individual to move high Court and Supreme Court ! It is for the retirees Associations to take up this issue .

For a meager amount of exgratia they can advise us to celebrate and make donations to fill their coffer, are they blind to this issue ? Can't they move court if injustice is done to the retirees?They enjoyed their lives at the cost of employees when they were in service; they still continue to enjoy their lives at the cost of retirees after their retirement ! Habits die hard !

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[Ganesh Naagar]

Manuka ji Namaskar,

Will this stay be applicable to central bank.

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[Dwaraki Bindiganavile]

It is going to be a futile exercise because our pension settlement is a settlement between 2 parties UFBU and IBA.  Further, even in 12th Bip.settlement there is no reference by the UFBU about the need of reducing commutation repayment period.  The pension regulations are binding on retirees. In view of the above, reducing commutation period not possible

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