Pension as a Property right as held by the Supreme Court is very pertinent in our case, as if the prayers of the petitionersare allowed by the Apex Court, the benefits have to be in full and not truncated ( as when LIC may propose to offer with prospective effect as done in the case of RBI pensioners).Prospective effect of upgradation will mean that arrears of past pension entitlements will be denied to surviving eligible pensioners,and no arrears will be payable to the nominees/legal heirs of the eligible deceased pensioners who passed away after 1/8/1997.Denial of arrears due is taking away part of the property owned by the pensioners in the event of SC upholding the right of upgradation with every wage revision.
I wonder whether any pensioner of RBI has approached a court of law against prospective effect for upgradation of pension.
C H Mahadevan
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