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6th Conference Slogan- Pension Updation is Right of Bank Retirees
Ref. No. 2024/202
Date: 23.11.2024
The Secretary, Department of Financial Services, Government of India, New Delhi.
Respected Sir,
Sub: Reduction of recovery period of commuted value of pension for bank pensioners- Interim orders of various High Courts to stop recovery of those whose recovery has been made for 10 Years or more- Request to advise IBA to implement the stay orders for all similarly placed eligible bank pensioners.
We would like to draw your kind attention to the subject captioned above as also our letter dated 02.11.2024 sent to your good self for due consideration and necessary instructions to IBA for advising member banks to extend the interim orders of different high courts in the matter of recovery of commuted value of pension to all eligible bank pensioners.
We want to further supplement that although similar interim relief has been issued for petitioners of Central& State Government Pensioners by different High Courts but the said relief has been extended to similarly placed pensioners in Government Sector. In addition to that CAT has also issued direction to the Government of India for stoppage of recovery of commutation amount of all Government Pensioners whose recovery has been made for 10 years or above.
Recently on 20.11.2024, the Hon'ble High Court of Telengana at Hyderabad has issued blanket order( copy enclosed) directing the State Government to implement the stay order for all eligible state Government Pensioners irrespective of fact whether he is a petitioner or not.
It will not be out of place to mention here that the Hon'ble Supreme Court of India has already ruled that even the petitioner or a group of petitioners succeed in legal battle for common benefits which is applicable to all other similarly placed employees in the organization, the said benefit/relief should be made available to all such similarly placed employees/workers. This observation has been duly noted by the Central Government while formulating National Litigation Policy. By doing so, all eligible beneficiaries will not be compelled to file individual petitions by spending huge legal expenses and simultaneously the valuable time of the Courts will be saved.
In view of the above submissions, we once again request you to kindly issue suitable advices to IBA for implementing the interim order of different High Courts by member banks for all similarly placed eligible pensioners as has been rightly done in case of Central & State Government Pensioners.
A prompt and positive response will be highly appreciated.
With Respectful Regards
Yours Sincerely,
(S. C. JAIN)
GENERAL SECRETARY
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