Usage of words VRS and SVRS

[Prasad C N]

Dear friends,

I have been observing using of word 'VRS' and 'SVRS' are being used, frequently.  Instead, it shoud be 'VR' (i.e Voluntary Retirement) and 'VRS' (Voluntary Retirement Scheme).  VRS itself is a Special Scheme.  Why 'Special' is prefixed ?

In Pension Regulations, only 'Voluntary Retirement (Regulation 29)' and 'terms of any scheme that may be framed for the purpose by the Bank's Board with the concurrence of the Government' (Regulation 28).  

Please advise me why we use'SVRS' instead of 'VRS' and 'VRS' instead of 'VR'. 

I do hope we understand the meaning and reasons of using some words in our correspondence, instead of blindly following what others say.

 

Thanks, a Million.

With regards,
Prasad C N

[anantharaman tg]

Dear Shri Prasad,

Thanks for the message for the correct usage of the terms VR and VRS. Hope our friends will

hereafter give the correct words. I too am getting it corrected.

Anantharaman

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[lakshmanan shankarnaraynan]

Dear Prasadji,

 

I fully endorse ur views. Even the circular brought out by my Bank(Indian Bank) anouncing the VRS scheme in 2000 did not name it as a SPECIAL scheme. But while contesting the cases filed in various courts the Bank Managements took the stand that it is a Special scheme as it involved the payment of exgratia which is not there in ordinary VR. Eventhough in some judgements the courts agreed that it is a special scheme, they clearly pronounced that the scheme should not stipulate any conditions contrary to the statutory/ pension regulations.

 

With regards

 

S.Lakshmanan

[karunakaran duraisamy]

My Dear Friend

IT IS SO SPECIAL BECAUSE, THE OPTEES ARE DENIED (1) 5 YEAR
ADDITION IN THE PENSIONABLE SERVICE, (2) FIXATION OF 50% PENSION AS
PER REVISED AGREEMENT (3) TA FOR HOME TOWN (4) MEDICAL FACILITY etc.
THAT IS WHY IT IS CALLED SPECIAL VRS.

BUT IN FACT BANK RETIREMENT IS ALWAYS SPECIAL RETIREMENT, WHEREIN
YOU WILL GET NOTHING EXCEPT SOME DA RAISE, ONE IN 6 MONTHS. LONG
LIVE THE RETIREES.

KARUNAKARAN

On Wed, Nov 9, 2011 at 11:20 PM, Prasad C N <cn_pr...@yahoo.com> wrote:

[perumal maruthu]

Dear Prasadji,

There are subtle differences between the two. VR was available to Officers even before signing of Pension settlement .Awardstaff had no such thing. Only after Pension Settlement , they got VR facility if they had opted for Pension. Now, one more VR introduced in 2000-2001 was applicable both for PFoptees and pension optees irrespective of cadre. To distinguish the special feature of 60 Months compensation it gained the notoriety of SVRS. The serving Staff thought the SVRS optees looted and scooted. Unions felt  they were deserters. But the Gov't did its dirty trick of denying 5years Notional Benefit,Medical Facilities, Identity Card, Holiday Homes and even the Preferential Rate of 1% in some Banks.After SVRS, every Bank made fantastic profit fulfilling Gov't's EXPECTATION.;;ofcourse by not revising their pension and by denying 100%DA along with those who retired before 1/11/2002.. Therefore, I feel  there is nothing wrong in the suffix (SVRS) attached to such Persons. The stigma/suffix only signals that this person is not an equally treated person.

On restoration of these benefits/Rights, Let us throw it away!  

Thereafter, every pensioner must call himself a pensioner ONLY. No VRS or SVRS Pensioner!

With Greetings!

M.Perumal

Canara Bank Pensioner

Chennai

From: Prasad C N <cn_pr...@yahoo.com>
To: "bankpe...@googlegroups.com" <bankpe...@googlegroups.com>
Sent: Wednesday, 9 November 2011 11:20 PM
Subject: bankpensioner Usage of words VRS and SVRS

[bass]

Dear Sir,

Good and sufficient explanation.

I think it is better to stop further messages on this subject.

With regards
S.M.BASHA

[karunakaran duraisamy]

Dear Friends,

Perumalji now seems to understand the facts about SVRS pensioners. It
will be still better if he writes who are all responsible for this
status.

karunakaran IBSVRS 2001