Payment of pension to compulsorily retired employees in Banks
2nd option for pension was offered by the banks in the year 2010 w.e.f Nov,2009 to those employees who did not opt for pension in the year 1995. But the IBA did not accept the option exercised by the employees retired compulsorily, exit optees and VRS etc and pension was denied to them.As per pension regulations Clause No.33 CRS employees are very much eligible for pension. Aggrieved with the decision of the bank management some employees of Andhra Bank took the help of judiciary and Andhgra Pradesh high court has given judgement in favour of the employees holding them eligible for pension.The bank management preferred an appeal in the Supreme Court of India which was rejected and the review petition filed by the banks have also been dismissed by Supreme Court of India on 21.01.2015.Resultantly ,the employees preferring appeal have been paid pension by the bank. In addition to these employees there are good number of employees belonging to CRS category who are expecting that Indian Bank Association will issue suitable instructions to all the banks to honour the judgement of Supreme Court of India. But so far no instructions have been issued by IBA. Since the verdict is by the apex court of India and the same cannot be challenged further and becomes the law. Kindly guide the affected employees as to how the decision of Supreme Court of India canbe implemented? What is the alternative left with these employees?