SUBHAS CHANDRA DE Vs. UNITED BANK OF INDIA

JUDGEMENT

(1.) Four persons have joined together in this writ petition. Their common grievance is that on their opting for voluntary retirement the pension benefits to which they became entitled in terms of the Scheme were not given to them.

(2.) The petitioners were in the employment of the respondent Bank (United Bank of India). In 1995 the bank introduced United Bank of India (Employees) Pension Regulations, 1995. Regulation 29 provided for pension on voluntary retirement. Sub-regulation (5) of Regulation 29 provides that the qualifying service of an employee seeking voluntary retirement under the Regulations would be increased by a period not exceeding five years, subject to the condition that the total qualifying service should not in any case exceed 33 years, and it also must not go beyond such employee's date of superannuation.

(3.) On December 23, 2000 the bank notified a Voluntary Retirement Scheme. In paragraph 6(ii) of such Scheme it was mentioned that an employee seeking voluntary retirement under it would be eligible for pension (including commuted value of pension) as per United Bank of India (Employees') Pension Regulations, 1995.