Pension for Resignees

[Ramani Konnayar]

In the light of the judgement given by the Madras High Court, securing the benefit pension in 2024 for those who resigned from banks is, indeed, a remarkable achievement.

The comparison made in the judgement between Resignation and Voluntary Retirement from Service makes it clear why the minimum service of 20 years 

was prescribed for Resignees to be eligible for pension. So to say, the Resignees cannot be treated on a better footing than VRS optees in respect of minimum required service.

Incidentally, the fact that pension was offered to Resignees, even though as per BEPR they were not eligible at all, strengthens our case for updation in Supreme Court.  Because, unlike pension to Resignees, Updation of pension has not been denied/barred anywhere, in the regulations, though not explicitly sanctioned/permitted too (as it was the case with RBI Pension regulations).

K N RAMANI