I attach a copy of the above judgment referred to by Mr S Ramachandran in his detailed counter to the Record Note signed by the Bank Unions with IBA on 25/5/2015.
The judgment clearly lays down that the right to pension is a fundamental right and also right to property.
When pension is considered a right to property it automatically follows it is like any other property which has a market value at any point of time. The market value of this property is determined by the upgraded pension at periodical intervals of time in tandem with wage revisions effected for employees.
With greetings,
C H Mahadevan
