Provided that, with effect from 1st day of September, 2000 pension shall also be granted to an employee who opts to retire before attaining the age of superannuation, but after rendering service for a minimum period of 15 years in terms of any Scheme that may be framed for such purpose by the Board with the approval of the Government.
A voluntary retirement scheme was floated by the bank on 9.11.2000.
He filed an application for grant of pension on the premise that he was eligible therefor.
Respondent was working with the appellant Bank.
The matter relating to pension is governed by the pension regulations.
A writ petition filed by him was dismissed by a learned Single Judge of the Madras High Court.
Respondent requested for his voluntary retirement.
By then, he had companypleted 14 years, 9 months and 17 days of service.
It was rejected on the ground that he had number companypleted 15 years of service.
It was accepted by an order dated 10.02.2001.
3989 OF 2007 Arising out of SLP Civil No.
CIVIL APPEAL NO.
19062 of 2005 B. SINHA, J Leave granted.
The terms and companyditions of grant of pension to the employees of the Bank are governed by the Indian Bank Employees Pension Regulation 1995 for short the Regulation Regulation 28 whereof, as amended with effect from 8.06.2002, reads as under Superannuation Pension Superannuation pension shall be granted to an employee who has retired on his attaining the age of superannuation specified in the Service Regulations or Settlements.
Meaning of the term broken period for the purpose of grant of pension while implementing a voluntary retirement scheme is the question involved herein.
