Pension on compulsory retirement in banks
Kasturi S
(Querist) 17 October 2018
This query is : Resolved
I am a former officer of a nationalised Bank. I was awarded the punishment of Compulsory Retirement. I had completed service of 15 years in the Bank. I have received Provident Fund, Gratuity and Leave Encashment as Retirement benefits but Pension is not sanctioned to me. I was told that a service of 20 years is required for sanction of Compulsory Retirement Pension. As per Bank Employees Pension Regulations, 1995 : An employee compulsorily retired from service as a penalty on or after 1st day of November, 1993 in terms of Service Regulations or settlement by the authority higher than the authority competent to impose such penalty may be granted pension at a rate not less than two-thirds and not more than full pension admissible to him on the date of his compulsory retirement if otherwise he was entitled to such pension on superannuation on that date.
The minimum qualifying service for Superannuation Pension is ten years/Fifteen years in many banks and as per the above interpretation of Compulsory Retirement Pension : A) am i eligible for Pension ? B) On what grounds Bank can deny pension ? C) Can i proceed legally against the Bank ?
Isaac Gabriel
(Expert) 17 October 2018
You are aware of the prevailing rules for pension at Banks.The compulsory retirement cases are normally allowed pension, since the compulsory retirement penalty is awarded for those who are entitled for pension.Ascertain from the bank authorities about the entitlement, and if not obliged move the court.
Dr J C Vashista
(Expert) 18 October 2018
You are well aware of the service rules qua grant of pension in the case of compulsory retirement of bank employee, issue a legal notice followed by writ of mandamus.
Guest
(Expert) 18 October 2018
Repeated query with different version seemingly with a new profile of the querist. So, I am sure, you don't have any such problem.
kavksatyanarayana
(Expert) 18 October 2018
On a punishment of Compulsory retirement, a bank employee who served not less than 10 years of service, may get not more than 2/3rds pension of the full pension on the date of actual retirement.
Kasturi S
(Querist) 19 October 2018
For kind attention of Sri Sudhir Kumar Sir,
The penalty order is dated 15th September 2016 and acknowledged by me on 21-09-2016. Afterwards the Bank got merged with State Bank of India on 01-04-2017. I have received other retirement benefits from SBI.
Kasturi S
(Querist) 20 October 2018
Sri Sudhir Kumar Sir, I am not not aware about the Limitation period for claiming pension on Compulsory Retirement. Please inform the time period within which i have prefer my case. Already two years has passed since i was given Compulsory Retirement on 15th September 2016.
Sudhir Kumar, Advocate
(Expert) 30 October 2018
when did you first made a representation regarding pension?
when did you get your reply on the same ?
Kasturi S
(Querist) 03 November 2018
Sir, I have not made any written representation to the bank but i was informed over phone by Assistant General Manager of Pension Department that you are not eligible for pension as you have not completed 20 years of service. Meanwhile the bank where i worked got merged with State Bank of India during April 2017, six months after i was given Compulsory Retirement.
