PROSPECTS ....

Sridharan G.N	5:12 PM (1 hour ago)
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Now that our appeals are posted for hearing on 24 th July 2018, pensioners are forced to suffer a lull period of three long months ! Still ,out of their anxiety many of our friends  have been contacting me and seeking MY personal views on what are my expectations on the possible outcome .Let me therefore oblige them by sharing my views as follows.
                               It is to the knowledge of everyone that the two major issues over which we look forward to judicial remedy are (A) removal of DR anamoly by uniformly introducing the principle of 100% neutralisation without imposing any cut off dates based on retirement dates and (B) up gradation of basic pension which has remained static for decades.
                                As regards issue A , it will not be an exaggeration to claim that LIC pensioners have almost clinched it favourably both when supreme court ordered interim relief (31/3/2016) and again the Delhi HC held ( on 30/4/2017) that there was discrimination but unfortunately prescribed its own formula for granting relief to the pre 97 retirees. It can therefore be reasonably expected that the issue will be decided favourably. It must however be realised that the issue is common to us and the bank pensioners except that their disputed cut off date is Nov 2002 as against sept 97 in our case. The issue is yet to be settled for bank pensioners as judgement still stands reserved in the case of appeal relating to united bank of India retirees and other connected matters. In my own humble view the procrastination on the part of the Govt/IBA in finalising their policy
is the cause for a final judicial verdict being delayed.
                               On issue B, we have been strongly arguing on the need to our being given a similar treatment as the Govt pensioners and have been harping at every opportunity so far on the provisions of Rule 56 of our pension rules in this behalf .Here again neither the pension Rules of Banks nor the NPS introduced compulsorily for all new entrants to govt.service after 2004, contain any specific rule for automatic upgradation. Most of us tend to forget that whether  it is right or wrong it is the policy of the govt to club banking & insurance on service matters like this and judiciary will always be reluctant to interfere on policy matters. At one stage the govt was favourably inclined for granting periodical hike for bank pensioners - vide old press reports on discussions between bank pensioners' organisations and the IBA. (Surprisingly these old reports are being circulated now by certain quarters) The fact however remains that the govt is yet to take a final stand on up gradation.
                         In the above circumstances let us keep our fingers crossed and hope for the best.With general elections due in less than a year let us hope the mood of the govt.will reflect a liberal approach for banks and we shall also be consequentially benefitted.
With Greetings to all and wishing for better days on or after 24/7!!
GN Sridharan
PS :: Persons requiring a copy of the book on NPS may kindly contact me so that I can send the same at their cost.