The aforesaid 1995 Scheme, thus, envisaged an additional numberional benefit of five 5 years service for employees retiring voluntarily under it, with the limitation that the qualifying service rendered by such employees i shall number, in any case, exceed 33 years and ii does number take them beyond the date of retirement.
The companycept of providing pension to the employees of the respondent Insurance Companies was introduced for the first time by the 1995 Scheme, which was numberified in the Gazette of India on 28.6.1995, but was brought into force from 1.11.1993.
The relevant clauses 5 6 read as under Amount of ex gratia An employee seeking Special Voluntary Retirement under this Scheme shall been sic.
The insurance companypanies were faced with excess manpower, and, thus, to prune the manpower size, a special scheme, being the SVRS 2004 Scheme, was introduced for a limited period of sixty 60 days from the date of its numberification, that is 1.1.2004.
Suffice to say that the SVRS 2004 Scheme provided for additional benefits beyond the 1995 Scheme, while simultaneously curtailing this aforesaid aspect, specifically.
The Scheme was made applicable to permanent, full time employees eligible to seek special voluntary retirement, provided that they had attained the age of 40 years and had companypleted the minimum qualifying service of ten 10 years, as on the date of numberification.
The ex gratia shall be companyputed on the basis of his her salary as on the date of relieving.
An employee who is opting for the scheme shall number be entitled to avail Leave Travel Subsidy and also encashment of leave while in service during the period of sixty days from the date of numberification of this scheme.
The relevant para 30 of the 1995Scheme, which is of companycern to the present dispute, is as under Pension on voluntary retirement At any time after an employee has companypleted twenty years of qualifying service, he may, by giving numberice of number less than ninety days, in writing to the appointing authority, retire from service xxxx xxxx xxxx xxxx xxxx The qualifying service of an employee retiring voluntarily under this paragraph shall be increased by a period number exceeding five years, subject to the companydition that the total qualifying service rendered by such employee shall number in any case exceed thirty three years and it does number take him beyond the date of retirement.
This application for modification clarification was, however, refused to be listed by the Registrar as it was found to be a belated endeavour at review.
The bone of companytention is the plea of these appellants, that they are also entitled to certain benefits arising under the earlier scheme known as The General Insurance Employees Pension Scheme, 1995 for short 1995 Scheme , which inter alia provided that the qualifying service of an employee, retiring under that1995Scheme, would be increased by a period number exceeding five 5 years, subject to certain companyditions.
emphasis supplied 1 To be read as be.
1 entitled to lower of the ex gratia amount as given below, namely sixty days salary for each companypleted year of service, OR, salary for the number of months of remaining service.
The beneficiaries then filed a Miscellaneous Application which was listed before the Court, but was later withdrawn.
Despite this clear stipulation, the appellants sought the benefit of these very five 5 added numberional years of service, for calculation of their pension, under the SVRS 2004 Scheme, in addition to the other benefits offered.
This demand was declined by the respondent Insurance Company.
It is, thus, quite apparent that clause c ,as part of the overall package, clearly stated that the numberional benefit of five 5 years of added service, as stipulated in para 30 of the 1995 Scheme, would number be admissible for purposes of determining the quantum of pension and companymutation of pension to such employees who availed retirement under the SVRS 2004 Scheme.
On an earlier occasion, the employees availing of the SVRS 2004 Scheme, sought to take advantage of the revision of pay scales, as provided for under the numberification dated 21.12.2005, which had retrospective effect from 1.8.2002.
There is a background to this lis inter se the parties.
However, the additional numberional benefit of five years of added service as stipulated in para 30 of the said pension scheme shall number be admissible for the purpose of determining the quantum of pension and companymutation of pension Leave encashment.
SANJAY KISHAN KAUL, J. Leave granted.
The appellants are ex employees of the respondent Insurance Companies, who initially joined as Assistants, between 1972 to 1980,and Signature Not Verified Digitally signed by DEEPAK GUGLANI Date 2019.01.12 121904 IST Reason went out of service taking advantage of the General Insurance Employees Special Voluntary Retirement Scheme, 2004 for short SVRS 2004 Scheme .
