voluntary retirement

T.V.MANIAN (Querist) 06 October 2010 This query is : Resolved
my colleagues' application for 'voluntary retirement' i.e who are officers in a nationalised bank are declined by the bank management twice and if they are submitting the application on third time with some medical certificate of their wife's illness or self, then the application is accepted and they are allowed to retire.

my question is whether any specific reason is required for accepting voluntary retirement?

Is it not sufficient that the employee himself is not prepared to work beyond certain time or age or at a given point of time, where he does not want to reveal the reason on so many grounds and if he think enough is enough. I am surprised at the managemnt's behaviour where they can engage or recruit more unemployed youths in his place and let the elders give way for the youngers

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pawan sharma (Expert) 06 October 2010
yes, it is required.

R.Ramachandran (Expert) 06 October 2010
Dear Manian,
Voluntary retirement scheme in Bank and other PSUs are introduced to reduce the staff / Officers strength. While doing so, the Management is also conscious that it cannot afford to lose very talented, brilliant, hardworking and sincere staff / officers. Therefore, while the application for voluntary retirement from deadwoods and other troublesome and not so good asset for the organization would be accepted without second thought, definitely the managements do refuse such applications from good staff/officers.
The Management do have the discretion in these matters.

Sri Vijayan.A (Expert) 06 October 2010
Yes, I agree with Mr.Ramachandran.
Without any reason, no representation, petition or application shall have validity anywhere

Parthasarathi Loganathan (Expert) 06 October 2010
When banks feel that there is a threat in depletion of trained manpower even VRS applicants are declined relief. It depends on the HRD policy of the bank concerned.