UNION BANK OF INDIA
DEPARTMENT OF PERSONNEL
239 Vidhan Bhavan Marg, Nariman Point, Bombay 400 021
Staff Circular No.4904 Date: October 8, 2002
Union Bank of India (Employees”) Pension Regulations, 1995
Amendments
Union Bank of India (Employees’) Pension Regulations, 1995 were introduced w.e.f. 29
09 1995 and circulated vide Staff Circular No. Staff Circular No. 4229 dated 26.10.1995
The above regulations have been revised and published in the Government Gazette
notification dated 27th February, 1999 bringing the following changes in Regulation 22
(4) (b) as mentioned under:-
Clause (a) of sub-regulation 4 of regulation 22 provides for “ In the absence of a specific
indication to the contrary in the service record, an interruption between two spells of
service rendered by a bank employee shall be treated as automatically condoned and
the pre-interruption service treated as qualifying service”, which remains unaltered.
Clause (b) of the said Regulations was substituted and has to be read as” Nothing in
clause(a) shall apply to interruption caused by resignation, dismissal or removal from
service.”
Similarly one more amendment has been brought in the Pension regulations cited above
under Regulation 28 and has been published in the Government gazette dated 13th July,
2002 and the said regulation has to be read as under:
“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.
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.”
All staff members are requested to take a careful note of the above amendments.
Sd/-
(K L GOPALAKSRISHNA)
General Manager (P)
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