Is PSU Banks are offering Pension option to resigned employees?

by admin on May 26, 2012

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I joined UCO Bank in October 1982 and resigned from service on January 2003 after completion of more than 20 years service. At the influence of the union and associations some employees did not opt for pension.At the time of resignation I have no choice left for pension. Since, then I moved for work and I live in overseas. I would appreciate if anyone could give me an answer regarding the fate of inclusion of resigned employees.


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{ 2 Answers… read them below or add one }

serviceuser May 26, 2012 at 11:25 am

The new wage settlement (broad points accepted but yet to be implemented on account of finalisation of peripheral issues) will extend the pension option to RETIRED employees but not to RESIGNED employees.


Venugopal May 26, 2012 at 11:25 am

Mode of exit can not be the criterion for determining Pension eligibility. Unions have to work for securing Pension to resigned employees who possess qualifying service for pension. Resignation is really voluntary retirement. The so called Voluntary Retirement is an abated and induced one. One who has received all other terminal benefits should be eligible for Pension.
C N Venugopalan Ex Manager Union Bank of India Nandanam Kesari Junction N Paravoor 683 513 – Kerala 9447747994


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