raj (..) 30 May 2009

Pension Transfer

I resigned from public sector bank after working for 9yrs & 8months & joined another public sector bank. What is the process of transfer of Pension amount accumulated in my name through my previous employer. Presently I am 33 yrs & would work with present employer for next 27 yrs if otherwise do not switch the organisation.

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Guest (Guest) 31 May 2009

Bank's pension rules are forumulated in bi-partite settlements reached between the management and the recognised unions. Hence, Central Government Pension rules and pension scheme in Employees' provident Fund and Misc. Provisions Act are not applicable. You go through the pension rules of your earlier bank to find out the solution.

Swami Sadashiva Brahmendra Sar (Nil) 31 May 2009

i agree with mr prabhakar.

KODAKKAL SHIVAPRASAD (officer scale-I) 31 May 2009

i am doubt if one who opted for pension, then he is not eligible for joining other nationalised banks without prieor permission of the existing bank,however there have separate manual of instructions for pension holders who applying jobs outside their earlier organizations.

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