We, some 26 officers had been retired by a co-op bank at the age of 55.From the foundation of the bank to 2003 the officers wer retiring at the age of 58,and the award staff was retiring at the age of 55+3 years extension[after passing through heath exam.].Now in 2003 bank had abruptly changed the retiring age of officers from 58 to 55 .When we asked the bank about it they point out the clause in standing order which says 'each and every employee will retire at the age of 55 and 3 years extension will be granted to himby mercy of the bank..Now my question is bank had given us loans up considering the age of retiring as 58 before 2003.As we are officers,does standing orders apply tous? because bank always points to standing orders.Bank withdrws extension to award staff from 2003 to 2008 and continues it in 2010 again.some employees are taken in 2009 of agreement amount basis.Does all these acts by the bank are legal?Does standing orders apply to officer cader under B.R> act?
