The General Secretary of AIBOC Mr G. D. Nadaf written a memorandum to IBA chairman said that as per the settlement reached between the Unions in the Banking Industry and the IBA on 27.11.2009, adopted by the respective Banks in regard to the interpretation of the eligibility in respect of officers, who had remained in service on the date of the agreement, subsequently retired under voluntary retirement provisions of the service rule, are eligible for pension option. They submitted the applications along with the necessary remittance seeking the membership of the pension scheme. However, the applications of these members have been rejected by the Managements of some of the Banks, reportedly at the intervention of the Indian Banks’ Association.
Mr Nadaf said that the different banks have been adopting different yardsticks and thereby causing hardship to a number of eligible candidates. Our information reveals that, all the Banks, except Syndicate Bank, Allahabad Bank, have permitted all such applications, have enrolled them as members of the Pension Scheme, and have already passed on the Pension benefits to them, since they have gone by the spirit of the agreement reached at the industry level.
The AIBOC demanded in their memorandum that issue suitable instructions to all those Banks who have unreasonably and unilaterally denied the pension scheme to the employees on a wrong interpretation, against the spirit of the understandings.