Saturday, January 30, 2010

Non payment of Incresed pension and arreara to VRS bank employees of certain Banks

Hi Friends,
Certain Banks (like VIJAYA BANK) has not yet paid increased pension and arrears on account of Supreme Court decision to add notional 5 years while calculating pension. (subject to maximum of 33 years). What is the way left to thrust upon such Bank managements who are not following Apex Court decision? The Supreme court decision was with a direction to implement decision within 1 month from the date of decision. Please adivse

Thursday, November 12, 2009

Delay in Getting Pension arrears by VRS Bank staff

Many Banks have not yet paid pension arrears to VRS bank staff who had put up less than 33 years service at the time of taking VRS. Some banks have promptly paid the arrears as per Supreme Court judgement i.e adding 5 years service wherever applicable for calculating pension.Why such delay of more than 3-4 months by some banks?
Ajit N. Naik