UCO BANK
Personnel Services Department, DD-3 & 4, Sector-I, Salt Lake City, Kolkata-700064.
Dated- 01/01/2013
CIRCULAR NO: CHO/POS/23 /2012-13
TO ALL BRANCHES & OFFICES IN INDIA
Sub : One more option for Pension to officers who were in service prior to 29th
September 1995 and retired voluntarily under Regulation 19(1) of OSR
before 27th April 2010 and could not opt for pension earlier and now may
opt for Pension in terms of decision of IBA in view of industry–level
settlement /understanding arrived at on 27th April 2010
between
Associations /Unions and IBA
GIST

One more option for pension, in lieu of contributory provident Fund, is extended to
officer employees voluntarily retired in view of IBA/Government decision in
appreciation of industry level settlement/ understanding reached between IBA and
various unions and associations

All those officer employees in service prior to 29th September 1995 and voluntarily
retired before 27th April 2010 under Regulation 19(1) of Officers Service Regulation
but did not opt for pension earlier are now eligible to opt for Pension

Eligible family members of those Officer employees who were in service prior to 29 th
September 1995 and could not opt for pension and retired voluntarily before 27 th
April 2010 under Regulation 19(1) of Officers’ Service Regulation and subsequently
expired, can also opt for family pension

30% of the additional cost of pension as codified in settlement/ joint note shall have to
be borne by the new optees/family of the deceased employees so willing to join the
pension scheme now and they will have to refund 156% of the amount of Bank’s
Contribution to Provident Fund, with accumulated interest, already received by the
officer employee/family of the officer employee.

All other conditions shall remain the same as they were in case of employees who
retired on superannuation and opted for Pension in response to our earlier circular
dated CHO/PMG/18/2010-11 DATED 20/08/2010

Option closes on 01/03/2013
CONTD…..(2)
(2)
In the Banking Industry, Pension, in lieu of Contributory Provident Fund, was first introduced
through Pension Regulation, based on the industry level settlement understanding dated 29th
October 1993 between IBA and Unions & Organizations. The said settlement was later on
translated into Pension Regulations of different PSU Banks and consequently “UCO Bank
(Employees’) Pension Regulations, 1995”,came into being which was notified in the Official
Gazette on 29th September 1995.
However, a number of employees who were in service prior to the date of Notification as
mentioned above, could not opt for pension. Hence, the matter of another option for Pension was
subsequently taken up by United Forum of Bank Unions (UFBU) with IBA and a settlement was
finally arrived at between constituents of UFBU and IBA on 27th April 2010 giving one more
chance to those who did not opt for Pension earlier, on certain terms and conditions. Consequent
upon the clearance of the said Settlement /Joint Note dated 27th April 2010 by the Government,
subject to final amendment of the Pension Regulations of the PSU Banks, the matter was approved
by the Board and option was accordingly invited vide our circular dated CHO/PMG/18/2010-11
dated 20/08/2010 from the employees/family of the deceased employees belonging to following
categories.
I. WHO WERE ELIGIBLE TO OPT EARLIER
1) Employees who were in service any time before 29th September 1995 and were/are in
service on or after the date of Settlement /Joint Note dated 27/04/2010 and did not opt for
Pension in response to our earlier offer or revoked Pension Option earlier and
2) Employees who were in service any time before 29th September 1995 and did not opt for
Pension in response to our earlier offer or revoked Pension Option and retired before the
date of Settlement /Joint Note dated 27/04/2010 and
3) Employees who were in service any time before 29th September 1995 and did not opt for
Pension in response to our earlier offer or revoked Pension Option and voluntarily retired
by Special Scheme( VRS 2000) ,after putting a minimum period of 15 years of Service
and
4) Eligible family members of the employees who were in service any time prior to 29th
September 1995 and did not opt for Pension in response to our earlier offer or revoked
Pension Option and retired and expired subsequently before the date of Settlement/Joint
Note as mentioned above and
5) Eligible family members of the employees who were in service any time prior to 29th
September 1995 but did not opt for Pension in response to our earlier offer or revoked
Pension Option and expired during the service period before the date of Settlement/Joint
Note as mentioned above.
CONTD…. .(3)
(3)
However, the Joint Note dated 27/04/2010 did not specifically include those
who took voluntary retirement in terms of the provision of regulation 19(1) of
OSR prior to the date of Settlement/Joint Note dated 27.04.2010.
IBA/Government has since received a number of representations from such
category of employees and also from the body of unions and associations
i.e.UFBU and decided to extend one more option for pension to the following
category of employees adhering to all the terms & conditions of aforesaid joint
Note.
II. WHO ARE NOW ELIGIBLE TO OPT
1)Those officers who had taken voluntary retirement from bank’s service on or
after 29.9.1995 and before 27.04.2010, the date of Joint Note for extension of
one more option for pension, in terms of rules framed by Bank’s Board pursuant
to the proviso of Regulation 19(1) of Officers’ Service Regulation(OSR).
2) The family of those officers who retired voluntarily under Regulation 19(1) of
OSR as mentioned immediately above anytime during the aforesaid period
and died subsequently are also eligible to opt for Pension/Family Pension.
Note: Employees or their family other than those categorized under the eligibility criteria II (1 &
2) herein above, are not eligible to opt for Pension in terms of this circular.
III. WHAT ARE THE CONDITIONS FOR EXERCISING OPTION
1) Employees described in category 1) above can opt for pension by an irrevocable option to
be exercised as per the prescribed pro-forma (Annex-V) in five copies with the condition
that they shall refund an amount equivalent to 156% of the amount received by them as
Bank’s Contribution to Provident Fund along with interest accrued thereon in favour of
Trustees UCO Bank Employees Pension Fund within the stipulated time as agreed between
the parties to the said Settlement /Joint Note.
2) Eligible family members of the employees described in category II( 2) above can opt for
pension by an irrevocable option to be exercised as per the prescribed pro-forma (AnnexVI) in five copies with the condition that they shall refund an amount equivalent to 156%
of the amount received by them/or by the deceased employee , while alive after retirement,
as Bank’s Contribution to Provident Fund along with interest accrued thereon in favour of
Trustees UCO Bank Employees Pension Fund within the stipulated time as agreed between
the parties to the said Settlement /Joint Note.
CONTD…….(4)
(4)
IV. WHEN TO OPT
1) Employees as described in category II(1) above can opt for Pension within sixty days from
the date of this circular subject to their fulfillment of the stipulated conditions. However,
Bank shall advise them suitably the net amount refundable after setting off the amount of
commutation provided they intend to commute the admissible fraction of pension.
2) Eligible family members of the employees as described in category II(2) above can opt for
Family Pension within sixty days from the date of this circular subject to their fulfillment
of the stipulated conditions. However, Bank would advise them suitably the net amount
refundable with due cognizance of the Competent Authority. However, the family, so
exercising the option, shall not be eligible for any benefit of commutation and shall be
entitled to the benefit of Family Pension only.
V. HOW TO OPT
All the above categories of employees /family members of the employees are eligible to opt for
Pension /Family Pension and subject to their fulfilling the conditions laid down for the
purpose. They will be entitled to the benefits under Pension Regulation form the date stipulated
for each of the category of employees.
Eligible officer employees, eligible family members of the voluntarily retired and subsequently
expired Officer employees, as categorized above, would have to submit the filled in prescribed
form of option within sixty days from the date of this circular, without changing the language
of the option form, to the Branch/Office from where the retired employee/family of the retired
employee would intend to draw Pension /Family Pension. Voluntarily Retired Officer
employees/eligible family members of the Officer employees should positively fill in five
copies of option form and obtain an acknowledgement, in a copy meant for the employee, from
the Manager/Chief Manager in HO and/or ZOs with Office Seal and signature.
VI. ROLE OF THE BRANCH/OFFICE
A copy of this circular must be prominently displayed on the Notice Board of the
Branch/Office. Eligible officer employees/family members of the deceased officers should be
provided with five copies of the prescribed option form. Options form will also be available
in UCO online as well as on the web site of the Bank. It should be ensured that all the copies
of the option form are duly filled in. The Manager /Chief Manager should put their signature &
EMPNO with office seal in all the five copies. One copy should be returned to such of the new
optees in acknowledgement and one copy should be kept in the branch/office while other three
copies should be forwarded to the respective ZO.
Contd….(5)
(5)
Branches/Offices should further ensure the following;

THIS CIRCULAR IS PROMINENTLY DISPLAYED ON THE NOTICE BOARD.

THE BRNACHES/OFFICES SHOULD MAKE ALL ENDEAVOURS TO CONTACT
ALLTHOSE OFFICERS VOLUNTARILY RETIRED FROM THEIR BRANCH/OFFICE
AND WHO WOULD NOW BE ELIGIBLE FOR ONE MORE OPTION FOR PENSION,
AND BRING THE CONETENTS OF THIS CIRCULAR TO THEIR NOTICE.

SEPARATE OPTION FORMS MEANT FOR THE APPROPRIATE CATEGORY OF
EMPLOYEES (VOLUNTARILY RETIRED OFFICER UNDER REGULATION 19(1)
OF OSR / FAMILY MEMEBERS OF EXPIRED OFFICERS AS MENTIONED ABOVE)
IS DULY FILLED IN. EXERCISING OPTION IN FORMS MEANT FOR OTHER
CATEGORY IS NOT PERMITTED.

OPTION FORMS ARE PROPERLY FILLED IN ALL RESPECT AND SIGNATURE
WITH OFFICE SEAL OF THE BRANCH HEAD /CHIEF OFFICER IS DULY AFFIXED

ONE COPY OF OPTION FORM IS DULY KEPT FOR RECORD OF THE BRNACH SO
THAT IT CAN BE RETRIEVED AT ANY TIME

THREE COPIES OF ALL THE OPTION FORMS OF VOLUNTARILY RETIRED
OFFICERS/ FAMILY OF THE DECEASED OFFICERS BE FORWARDED TO ZO
WITHIN SEVEN DAYS FROM THE LAST DATE OF OPTION.BRANCHES SHOULD
FORWARD ALL OPTION FORMS TO ZO IN ONE LOT

A LIST OF OPTEES MUST BE PREPARED IN THE ENCLOSED FORMAT MARKED,
ANNEXURE –VII AND SOFT AS WELL AS HARD COPIES BE SENT TO ZO.
VII. ROLE OF ZOs
Zonal offices will have to take all such steps as are required by the Branches for circulation of this
circular among staff members of their respective office.
ZONAL OFFICES ARE REQUIRED TO COLLECT SOFT AS WELL AS HARD COPIES OF
THE LIST OF NEW OPTEES (AS PER PROFORMA IN ANNEXURE-V-B) FROM ALL THE
BRANCHES/OFFICES IN THE ZONE.
ZOs TO CONSOLIDATE THE SAME, BRANCHWISE, FOR ALL THE BRANCHES, IN THE
SAME FORMAT.
ARRANGE TO SEND BY EMAIL TO HO, PERSONNEL SERVICES DEPARTMENT,
PENSION CELL,THE SOFT COPIES OF THE CONSOLIDATED LISTS OF ALL BRANCHES
AND OFFICES, WITHIN FIFTEEN DAYS FROM THE LAST DATE OF OPTION.
Contd……..(6)
(6)
ALSO ARRANGE TO SEND BY COURIER/SPEED POST TO HO,PSD, PENSION CELL,
THE HARD COPIES OF THE CONSOLIDATED LIST ALONG WITH TWO COPIES OF
PENSION OPTION FORMS OF ALL THE NEW OPTEES WITHIN TWO WEEKS FROM THE
LAST DATE OF OPTION
HELP THE BRANCHES TO MITIGATE ALL DISPUTES IN CONSULTATION WITH HO,
PSD.
VIII. VARIOUS DEPARTMENTS OF HO
They are advised to down load the option form or personally collect the same from HO Pension
Cell, besides displaying the circular on the Notice Board.
Completed option forms by the new optees should be obtained within the stipulated time of sixty
days from the date of this circular. They should also extend all possible help to voluntarily retired
officers and family of the deceased employees who were earlier posted at their Departments.
Officer –Employees who were posted at HO are required to fill in only three copies of option form
while submitting the same through HO. One copy should be returned to the employees /families
under acknowledgement of the Chief Manager of the cell/section where he was last posted. Option
so received by any cell/section of HO should be forwarded to HO. However, any officer or family
member of deceased officer, last posted at HO, who are eligible to opt, may also opt from the
branch from where he/she intends to draw pension.
IX. MISCELLANEOUS ACTION POINTS
1. Branches and ZOs are advised to contact as many voluntarily retired (under
regulation 19(1) of OSR) employees as they can.
2. PHOTOCOPY AND DOWNLOADED OPTION FORMS CAN BE USED FOR
EXERCISING OPTION. ZOs AND BRANCHES MAY GENERATE REQUIRED
NO OF COPIES OF FORMS AS PRESCRIBED.
3. Medical examination of the officer employees’ is mandatory for commutation of
Pension after one year from the date of his retirement. If the Pensioner/Employee is
declared fit by a Medical Officer approved by the Bank or any Medical Officer of
the rank of Civil Surgeon or Chief District Medical Officer, then he /she will be
entitled to commute Pension on the date of Medical Certificate given by the
concerned Medical Officer. Bank’s prescribed format should be used for Medical
Examination. All the eligible optees shall be governed by relevant provisions of
UCO Bank (Employees’) Pension Regulation, 1995, as amended or otherwise
applicable.
4. Netting of proceeds of commutation as against refundable amount is permitted.
Contd…..(7)
(7)
5. Voluntarily retired officer employees, as categorized above or family members of
retired and expired employees, should exercise option in the prescribed form only.
6. Commutation shall become absolute on the date of application and subject to the
relevant provisions of Pension Regulation. No commutation is allowed on Family
Pension.
A copy of the Settlement/Joint Note dated 27th April, 2010 is enclosed for reference of all
concerned.
(H. Dutta)
General Manager
HRM & Personnel Services
Enclo: (1) Annexure V,VI & VII as above and the Joint Note dated 27/04/2010
(2) Required Forms for medical examinations and STF-43 and STF-48.
Annexure-V
[Option Form to be filled in by the officers who were in service of the Bank prior to
29th September, 1995 but voluntarily retired under Regulation 19(1) of OSR on or
after 29th September 1995 and before 27th April 2010 ]
( Instruction given for filling in the forms have to be strictly followed )
To,
The Chairman & Managing Director/Executive Director
General Manager ( Personnel) / Dy. General Manager (Personnel),
UCO Bank, Head Office-2,
3-4 DD Block, Sector – 1
Kolkata - 700064
I hereby declare that I have read and understood the terms of Settlement / Joint Note dated 27.4.2010 for
extending another option to join Pension Scheme. I have understood that the terms of the Settlement /
Joint Note have been arrived at on the basis of the Unions / Associations offering to contribute 30% of the
initial funding gap assessed for extending another option for joining the pension scheme. I am agreeable to
the said contribution of 30% towards the funding gap and hereby voluntarily opt for Bank’s Pension Scheme
as per the provisions of the said Settlement / Joint Note. I undertake to refund the Bank’s contribution to
Provident Fund together with accrued interest thereon paid to me on my voluntary retirement under
regulation 19 (1) of Officers’ Service Regulation plus an amount equal to 56% of the Bank’s contribution to
Provident Fund with interest received at the time of voluntary retirement, being 30% contribution towards
the initial funding gap in terms of Clause 3( c ) of Joint Note dated 27.4.2010.
I desire to commute 1/3rd or …………………. Part of the pension / I do not desire to commute any part of
the pension ( Strike out whichever is not applicable
(For names use one box for one alphabet leaving one box blank between first name, second name and
surname).
1.
Name in full :
2.
EMP NO.
Shri/Smt./Kumari ( Delete whichever is not applicable )
Tel./Mob No. ______________________________
[** Write dates in the order day(DD), month(MM) and year (YY).
For example, write 15th June, 1952 as
1 5 0 6 5 2
]
1
**
**
3.
Date of birth
6.
Designation :
7.
(a)
4.
Date of Joining the Bank
**
5.Date of vol. retirement
Name of the Branch / Office attached / from where retired :
Contd…… 2.
-: ( 2 ) :(b)
Identification No. :
(c )
Zone
:
8.
Wife / Husband’s name : Smt. / Shri ( Delete whichever is not applicable )
9.
Present residential address :
PIN :
10.
Branch from where pension is proposed to be drawn , if sanctioned :
(a)
Name
:
(b)
11.
Identification No. :
Particulars regarding wife/husband, son(s) and daughter(s) :
S.
No.
Date :
Name
Relationship
Date
of
Birth
Marital
status
Whether
Physically/mentally
disabled
Whether
employed
CBS Pension SB A/C No._________________________________
Place :
SIGNATURE OF THE APPLICANT
__________________________________________
( Signature attested )*
Note :
1.
Additions/ alterations in the text of the above form will render the option Invalid.
2.
Blanks in the form have to be preferably typed, ensuring that all copies are legible. Alternatively the
blanks may filled in by hand in Block letters without the use of carbon paper.
Contd…… 3.
(3)
FOR OFFICE USE ONLY
a) Option noted in the Service Record/Branch Record/File and copy filed in Service Record.
Branch Manager/Senior Manager/CM-ZO/HO
b) Option noted in the Provident Fund A/c. at __________________________________________
Folio No. _______________________ and Service Sheet at Folio No. ___________________________
_____________________________________
(CHIEF MANAGER, PF / PENSION)
* ( To be attested by the Manager ( holding number one post in the branch) / Incharge of Personnel Services
Department at Zonal Office/Chief Manager of the department concerned at Head Office, with official seal after
verification of information furnished in the option form)
ANNEXURE – VI
[ Option Form to be filled in by the family of those Officers who were in service of
the Bank prior to 29th September, 1995 but retired voluntarily under regulation
19(1) of Officers’ Service Regulation on or after 29th September 1995 and before
27/04/2010 the date of Joint Note dated 27.4.2010. and subsequently expired ]
( Instruction given for filling in the forms have to be strictly followed )
To,
The Chairman & Managing Director/Executive Director
General Manager ( Personnel) / Dy. General Manager (Personnel),
UCO Bank, Head Office-2,
3-4 DD Block, Sector – 1
Kolkata - 700064
I hereby declare that I have read and understood the terms of Settlement / Joint Note dated 27.4.2010 for
extending another option to join Pension Scheme. I have understood that the terms of the Settlement /
Joint Note have been arrived at on the basis of the Unions / Associations offering to contribute 30% of the
initial funding gap assessed for extending another option for joining the pension scheme. I am agreeable to
the said contribution of 30% towards the funding gap and hereby voluntarily opt for Bank’s Pension Scheme
as per the provisions of the said Settlement / Joint Note. I undertake to refund the Bank’s contribution to
Provident Fund together with accrued interest thereon paid to me/my husband/wife/……… on account of
his/her Voluntary retirement under regulation 19(1) of Officers’ Service Regulation plus an amount equal to
56% of the Bank’s contribution to Provident Fund with interest received at the time of such retirement or on
account death after retirement being 30% contribution towards the initial funding gap in terms of Clause 3( c
) of Joint Note dated 27.4.2010.
( For names use one box for one alphabet leaving one box blank between first name, second name and
surname).
1.
Name of the Family Pensioner : Shri/Smt./Kumari ( Delete whichever is not applicable)
2.
Name of the deceased employee :
3.
EMP NO.
Late
[** Write dates in the order day(DD), month(MM) and year (YY).
For example, write 15th June, 1952 as
1 5 0 6 5 2
]
1
**
**
4.
Date of birth
7.
Date of Death
8.
Designation :
9.
(a)
5.
Date of Joining the Bank
**
6.Date of Vol.retirement
**
copy of Death Certificate to be attached
Name of the Branch / Office attached / from where retired :
Contd…… 2.
-: ( 2 ) :(b)
Identification No. :
(c )
Zone
:
10.
Name of Guardian (in case of minor) Smt. / Shri
11.
Present residential address :
PIN :
12.
Branch from where pension is proposed to be drawn , if sanctioned :
(a)
Name
:
(b)
13.
Identification No. :
Particulars regarding dependent of deceased employee :
S.
No.
Date :
Name
Relationship
Date
of
Birth
Marital
status
Whether
Physically/mentally
disabled
Whether
Employed
CBS SB A/C No. ___________________________________________
Place :
SIGNATURE OF THE APPLICANT
__________________________________________
( Signature attested )*
Tel /Mob No. _________________________________.
Note :
1.
Additions/ alterations in the text of the above form will render the option Invalid.
2.
Blanks in the form have to be preferably typed, ensuring that all copies are legible. Alternatively the
blanks may filled in by hand in Block letters without the use of carbon paper.
Contd…… 3.
(3)
FOR OFFICE USE ONLY
b) Option noted in the Service Record/Branch Record/File and copy filed in Service Record.
Branch Manager/Senior Manager/CM-ZO/HO
b) Option noted in the Provident Fund A/c. at __________________________________________
Folio No. _______________________ and Service Sheet at Folio No. ___________________________
_____________________________________
( CHIEF MANAGER, PF / PENSION )
* ( To be attested by the Manager ( holding number one post in the branch) / Incharge of Personnel Services
Department at Zonal Office/Chief Manager of the department concerned at Head Office, with official seal after
verification of information furnished in the option form)
ANNEXURE-VII
FOR ELIGIBLE OFFICERS IN SERVICE PRIOR TO 29TH SEPTEMBER 1995 AND
RETIRED VOLUNTARILY UNDER REGULATION 19(1)OF OSR PRIOR TO 27TH
April 2010 /FAMILY OF VOLUNTARILY RETIRED AND SUBSEQUENTLY
EXPIRED EMPLOYEES
PROFORMA FOR FORWARDING OPTION FORMS FROM BRANCH TO ZO AND ZO
TO HO PENSION CELL, PSD (to be prepared in excel-format)
SL
NO
NAME
EMPNO
DESIGNAION
THE DATE
CESSATION
SERVICE
ON
OF
OF
DATE OF
CESSATIO
N
OF
SERVICE
BR
NAME &
IDNO
ZONE
OPTION
RECORDED
IN BRANCH
(SAY
YES/NO)
NATURE OF
CESSATION *
* NATURE OF CESSATION- IF VOLUNTARILY RETIRED, MENTION VRT,IN CASE OF
VOLUNTARILY RETIRED AND SUBSEQUENTLY EXPIRED OFFICER MENTION VREX,
Certified that all the officer employees/family of deceased employees listed above have now opted
for pension. It is further certified that each of the above employees has been parted with a copy of
option form meant for him/her and they opted for pension within the stipulated date.
Asst.Manager/ Manager/Sr Manager/CM
(Put Office Seal with date)
Email id of Ho: ucohopension@ucobank.co.in
Annexure-A
Form No 2
REMAR
K
UCO Bank
……………………………………….
Application for Commutation of Pension subject to Medical Examination.
(To be submitted in duplicate)
PART-I
To
The GM/DGM/AGM/Chief Officer
Personnel Services Department
UCO Bank
Head Office
3 & 4 DD Block, Sector-1
Salt Lake, Calcutta – 700064
Space for affixing attested
passport size photograph with
spouse
Dear Sir,
I desire to commute a fraction of my pension in accordance with UCO Bank (Employees’) Pension
Regulations, 1995. An attested copy of my photograph is affixed on the application and an
unattested copy is enclosed. The necessary particulars are furnished below:
1.
2.
3.
4.
5.
6.
7.
Name in full (in block letters) ______________________________________
Designation at the time of retirement ______________________________
Name of the Branch/office/Department from which retired _________
Date of birth (as per Bank’s Service Record) ________________________
Date of retirement ________________________________________________
Class of Pension ___________________________________________________
Fraction of pension proposed to be commuted
not exceeding 1/3rd thereof _______________________________________
8. Preference for station where medical examination
Is desired to take place ____________________________________________
Phone/Mob No.
_________________________
(Signature with EMP No.)
Place :
Address : ___________________
___________________________
Date :
___________________________
_____________________________________________________________________
Acknowledgement
Received from Shri/Smt/Kum. ________________________________________
_______________________________application for commutation of Pension
Place :
Date :
Signature of Chief Manager (Personnel)
Annexure - A
Part-II (Form No 2)
(To be completed by Chief Manager, Personnel)
1. Name of the applicant
2. Date of birth (as per Bank’s
Service Record)
3. Date of retirement
4. Class of pension
5. Amount of Pension
6. Amount of Pension desired
to be commuted
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
On the basis of
___________________
Normal
Added years, if any
Age
_________________________
_____________________________________
Rs.
Rs.
_____________________________________
7.(i) Sum payable if commutation
absolute before the applicant’s next
birthday which falls on ___________
(ii)Sum payable if commutation becomes
absolute after the applicant’s next birthday which falls on ____________
1. Number of enclosures, if any
(see note below)
___________________
Place :
Date :
_______________________________________
Signature of the Chief Manager (Personnel)
_____________________________________________________________________
Note : The Chief Officer (Personnel) should enclose with the Form, a copy of the receipt or
statement of the applicant’s case if the applicant has been granted invalid pension or has
previously commuted a part of his pension or declined to accept commutation on the basis of an
addition of years of actual age, or has been refused (commutation) on medical grounds.
(contd…)
Annexure – A
Part – II (Form No 2)
Copy forwarded to Shri/Smt/Kum. __________________________________
____________________________________________________________________
(give complete postal address)
with the remarks that subject to the Bank’s Medical Officer’s recommendation he/she will, on the
basis of the report of the Chief Officer (Personnel) be eligible for the lump sum payment in lieu of
the amount of pension to be commuted as follows :
On the basis of
_________________________
Normal
Age
Rs.
i)
ii)
Sum payable if commutation becomes
absolute before the applicant’s next
birthday which falls on ………
Sum payable if commutation becomes
absolute after the applicant’s next
birthday which falls on …..
Added years, if any
_______________
Rs.
_____________________
_____________________
_____________________
The Table of the present value, on the basis of which calculation by the Chief Officer (Personnel)
has been made, is subject to alteration at any time without notice and consequently the basis is
liable to revision before payment is made. The sum payable will be the sum appropriate to the
applicant’s age on his birthday next after the date on which the commutation becomes absolute,
or if medical authority directs that year/(s) will be added to that age, to the consequent assumed
age.
Shri/Smt/Kum _____________________________________ should report for medical examination to the
Bank’s Medical Officer/Civil Surgeon/CDMO at Bank’s Dispensary between ________ a.m. and
______ p.m. on _______ . He/She should take with him/her the enclosed Form No 4 with the
particulars required in Part-I completed except the signature or thumb impressions.
Place :
Date :
…………………………………………..
(Signature of Chief Manager (Personnel)
Medical Examination by the Bank’s Medical Officer
Part- I
The applicant must complete this statement prior to his examination by the Bank’s Medical Officer
and must sign the declaration appended thereto in the presence of Bank’s Medical Officer.
1. Name of the applicant (in block letters)
2. Date of Birth (by Christian era)
3. Particulars regarding parents
Father’s age, if living
and state of health
Father’s age at death
and cause of death
Mother’s age, if living
and state of health
Mother’s age at death
and cause of death
4. Have you been considered for grant of
Invalid pension ? If so, state the ground
thereof.
5. Have you been granted leave on
Medical certificate during the last
three years of your service?
If so, state periods of leave and nature
of illness
6. Have you during the last three years
Period
a) suffered from any major illness
requiring hospitalization? If so, the
nature of illness and period of
hospitalization may please be
indicated; or
b) undergone any major surgical
operation.
c) Lost or gained weight markedly
Declaration by Applicant
(To be signed in the presence of the Bank’s Medical Officer *)
I declare all the above answers to be, to the best of my belief, true and correct.
I am fully aware that by willfully making a false statement or concealing a relevant fact I shall incur
the risk of losing the commutation.
Applicant’s signature or thumb-impression
in case of illiterate applicant
Signed in the presence of
(Signature of Bank’s Medical Officer *)
PART II
(To be filled in by the examining Bank’s Medical Officer *)
1. Apparent age
:
2. Height
:
3. Weight
:
4.Describe any scars
or identifying marks
of the applicant :
5.Pulse rate :
a) Sitting
b) Standing
What is the character of pulse ?
:
6.Blood pressure –
a) Systolic
b) Diastolic
7. Is there any evidence of disease of the
main organs :
a) Heart
b) Lungs
c) Liver
d) Spleen
e) Kidney
8.Investigation
i)
Urine
(State specific gravity)
ii)
Blood
iii)
X-Ray Chest
iv)
E.C.G.
9. Any additional finding
PART III
(To be filled in by the examining Bank’s Medical Officer *)
I/We have carefully examined Shri/Shrimati/Kumari ___________________
and am/are of opinion that –
He/She is in good bodily health and has the prospect of an average duration of life.
OR
He/She is not in good bodily health and is not fit for subject commutation
OR
Although he/she is suffering from ___________________ he/she is considered fit for subject
commutation but his/her age for the purpose of commutation i.e. the age next birthday should
be taken to be ________
(in words) years more than his/her actual age.
Place :
Date :
Signature and designation of
Examining Bank’s Medical Officer
* Note : The term ‘Bank’s Medical Officer’ wherever occurs, includes the Civil Surgeon/Chief
Medical Officer/District Medical Officer or a Medical Officer holding equivalent rank in the State
Government.
STF – 43
5/01 C.P.
APPLICATION TO TRUSTEES OF PENSION FUND
The Trustees,
UCO Bank Employees, Pension Fund,
Head Office-II,
Kolkata-700064.
Dear Sir,
Reg : Payment of Pension
I shall be retiring / already retired from Bank’s service with effect from __________________ . I had opted for
Pension in accordance with UCO Bank (Employees’) Pension Regulations, 1995. I would request you to please
arrange for sanction of Payment of pension as per rules. The Pension amount may please be credited to my
______________ A/C No. _________________________________ with ____________________________ Branch.
Yours faithfully,
Signature :_____________________________
Name : _______________________________
PFM No. _____________________________
Designation ____________________________
Branch / Office _________________________
SB A/C No. _________________________________________
(Fourteen Digit)
Date : _____________________
STF-48 5/01 C.P
SPECIMEN LETTER OF UNDERTAKING BY THE PENSIONER /
FAMILY OF THE DECEASED EMPLOYEE/PENSIONER
To
The Branch Manager,
UCO Bank
Date : ____________________
__________________ ( Branch & Address )
____________________________________
Dear Sir,
Payment of pension/family pension (PF No. ………………) through your Office
In consideration of your agreeing, at my request, to make payment of pension/* family pension due to me every month
by credit to my account with you, I, the undersigned, agree and undertake to refund or make good any amount to
which I am not entitled or any amount which may be credited either by mistake or for want of any information to my
account in excess of the amount to which I am or would be entitled. I further hereby undertake and agree to bind
myself and my heirs, successors, executors and administrators to indemnify the Bank from and against any loss,
suffered or incurred by the Bank in so crediting my pension/* family pension to my account under the UCO Bank
(Employees’) Pension Regulations, 1995 and to forthwith pay the same to the Bank and also irrevocably authorize the
Bank to recover the amount due by debit to my said account or any other account/deposits belonging to me in the
possession of the Bank.
$ I hereby declare to the best of my knowledge that –
i)
* I was not suspended anytime during my entire service in the Bank.
** I was under suspension from …………….. (date) to …………… (date)
*** I was under suspension approximately for…(months) during my entire
service.
ii)
* I was not on leave without pay during my entire service in the Bank.
** I was on leave without pay for ………….. (months) during my entire
service.
iii)
* I was not chargesheeted during my entire service in the Bank.
** I was chargesheeted as under and I was punished/not punished as per the
details given hereinbelow
Date of C/S
Order of the disciplinary/review/appellate authority
Iv ) * No judicial proceedings are pending against me.
** The following judicial proceedings, details of which are mentioned below, are
pending against me.
DETAILS OF PENDING JUDICIAL PROCEEDINGS:
Date on which
Initiated
Reference No.
(if any)
Reasons
Present position
$ I also agree that in case any of the above information as furnished by me happen to be untrue then the Bank can take
such action as it deems fit including recovering the excess amount paid to me on account of the above declaration
which subsequently turns to be untrue.
Yours faithfully,
Address : …………………………..
Signature: ……………………….
……………………………
Name: …………………………..
…………………………….
$ P.F.No. : …………………………
WITNESS
1 ) Signature : ……………………….. 2 ) Signature : ……………………….
Name
: …………………………
Name
: ……………………….
Date
: …………………………
Date
: ………………………..
Address : ………………………….
………………………….
Notes :
Address : ………………………..
…………………………
* / ** / *** Strike out the inapplicable.
$ Applicable only for the pensioner and not for the family of the deceased
employee/pensioner.
In case the space provided in the above format for furnishing any information is insufficient, a separate
sheet may be attached.
Joint Note on agreed conclusions reached between the Indian Banks’ Association on behalf
of the Managements of Banks listed in the Schedule and All India Bank Officers’
Confederation (AIBOC), All India Bank Officers’ Association (AIBOA), Indian National
Bank Officers’ Congress (INBOC) and National Organisation of Bank Officers (NOBO)
(A) A Joint Note for introducing Pension Scheme in the Banking Industry as second retiral
benefit in lieu of Contributory Provident Fund was signed between Indian Banks’
Association (IBA) on behalf of Management of Banks and their officers represented by
All India Bank Officers’ Confederation (AIBOC), All India Bank Officers’ Association
(AIBOA) and Indian National Bank Officers’ Congress (INBOC) on 29th October
1993. The terms of the said Joint Note were incorporated in the Bank Employees’
Pension Regulations, 1995 notified in the official Gazette of India by all the
Nationalised Banks on 29th September 1995 and by Associate Banks of State Bank of
India on 26th March 1996.
(B) According to the Joint Note dated 29th October 1993 and Bank Employees’ Pension
Regulations, 1995/1996 framed incorporating the terms of Joint Note, Pension in lieu
of Contributory Provident Fund was introduced in respect of those Officers who opted
for the said Pension Scheme.
(C) Those Officers who were in the service of the banks prior 29th September 1995 in case
of Nationalized Banks / 26th March 1996 in case of Associate Banks of State Bank of
India and continued to be in service of the banks on or after 29th September 1995 /26th
March 1996 respectively and did not exercise the option to join the Pension Scheme
were eligible only for the Contributory Provident Fund Scheme.
(D) The United Forum of Bank Unions (UFBU) representing workmen and officers in
Banks were requesting to allow another option to those who were in the service of the
Banks prior to 29th September 1995 in case of Nationalized Banks / 26th March 1996 in
case of Associate Banks of State Bank of India and continued in service on or after that
date and did not opt for pension when offered as per the Scheme. IBA was not
agreeable to the demand and reiterated its inability to extend the present Pension
Scheme to those who had not opted for pension on cost consideration. However, both
the parties agreed to discuss alternate proposals. The same was incorporated in the fifth
paragraph of the Joint Note on salary revision for officers dated 2nd June 2005. The
UFBU pursued the demand inspite of the above position and offered to share a portion
2
of the initial funding liability on one-time basis for extending pension to the non optees.
Protracted negotiations were held between the parties over a period of time. An
actuarial valuation of liability by actuaries appointed by mutual consent was carried out
and based on this, the funding gap was estimated as Rs.6000/- crores. The employees
offered to contribute Rs.1800/- crores, being 30% of the estimated funding gap, for
extending pension to those employees who were in the service of the bank prior to 29th
September 1995 in the case of Nationalised banks and 26th March 1996 in case of
Associate Banks of State Bank of India and continue to be in service thereafter and did
not opt for pension. They had also requested to extend the Pension Scheme to –
(a) Those who were in the service of the Banks prior to 29th September 1995 in case
of Nationalized Banks / 26th March 1996 in case of Associate Banks of State
Bank of India, did not opt for pension and had retired after that date.
(b) The family of those officers who were in service of Banks prior to 29th
September 1995 in case of Nationalized Banks / 26th March 1996 in case of
Associate Banks of State Bank of India, did not opt for pension and had died
while in service after that date.
(c) The family of those officers who were in service of the Banks prior to 29th
September 1995 in case of Nationalized Banks / 26th March 1996 in case of
Associate Banks of State Bank of India, retired from service of the Banks after
that date and died thereafter.
(E) Subject to their opting to be under the Pension Scheme and refunding the banks’
contribution to Provident Fund with interest paid to them at the time of retirement/
death of the officer concerned and also contribute their share in meeting 30% of the
funding gap. An actuarial valuation on similar lines as conducted for serving employees
had estimated the funding gap as Rs.3115 crores for those retirees/ family of retirees.
The parties held various rounds of discussions in the matter and have now reached
conclusions as set out hereunder:
(1) All officers who are in the service of the bank as on the date of this Joint Note who
exercise option to join the Pension Scheme in terms of this Joint Note will contribute
from their arrears on account of wage revision in terms of the Joint Note between the
parties dated 27th April 2010 an amount of Rs.922 crores towards their share in the
3
amount of Rs.1800 crores offered by UFBU towards 30% of the estimated funding gap of
Rs.6000 crores. The said amount is worked out @2.8 times of the revised pay for the
month of November 2007, for individual officers.
Another option for joining the existing Pension Scheme shall be extended to those Officers
who:(2) (a) were in the service of the bank prior to 29th September 1995 in case of Nationalized
Banks / 26th March 1996 in case of Associate Banks of State Bank of India and
continue in the service of the bank on the date of this Joint Note;
(b) exercise an option in writing within 60 days from the date of offer, to become a
member of the Pension Fund and
(c) authorise the Trust of the Provident Fund of the bank to transfer the entire
contribution of the bank along with interest accrued thereon to the credit of the
Pension Fund.
(3) (a) were in service of the bank prior to 29th September 1995 in case of Nationalized
Banks / 26th March 1996 in case of Associate Banks of State Bank of India and
retired after that date and prior to the date of this Joint Note;
(b) exercise an option in writing within 60 days from the date of offer to become a
member of the Pension Fund and
(c) refund within 30 days after expiry of the said period of 60 days, the entire amount of
the banks contribution to the Provident Fund and interest accrued thereon received by
the officer on retirement together with his share in contribution towards meeting 30%
of Rs.3115 crores which is estimated and reckoned as the funding gap for those
eligible under Clause (3), (4) and (5) of this Joint Note. On an individual basis, the
payment over and above the bank’s contribution to Provident Fund and interest
thereon has been worked out at 56% of the said amount of bank’s contribution to
Provident Fund and interest thereon received by the officer on retirement.
(4) The family of those officers who were in the service of the bank prior to 29th September
1995 in case of Nationalized Banks / 26th March 1996 in case of Associate Banks of State
Bank of India retired after that date and had died will be eligible for family pension,
provided –
(a) the family of the deceased officer exercises option in writing within 60 days of the
offer to become a member of the Pension Fund and
4
(b) refund within 30 days after expiry of the said period of 60 days, the entire amount of
the bank’s contribution to the Provident Fund and interest accrued thereon received
by the deceased officer on retirement together with his share in contribution towards
meeting 30% of Rs.3115 crores which is estimated and reckoned as the funding gap
for those eligible under Clause (3), (4) and (5) of this agreement. On an individual
basis, the payment over and above the bank’s contribution to Provident Fund and
interest thereon has been worked out at 56% of the said amount of bank’s
contribution to Provident Fund and interest thereon received by the officer on
retirement.
(5) The family of those officer who were in the service of the bank prior to 29th September
1995 in case of Nationalized Banks / 26th March 1996 in case of Associate Banks of State
Bank of India, but have died while in service of the bank after that date will be eligible
for family pension, provided –
(a) the family of the deceased officer exercises an option in writing within 60 days of the
offer to become a member of the Pension Fund and
(b) refund within 30 days after expiry of the said period of 60 days, the entire amount of
the bank’s contribution to the Provident Fund and interest accrued thereon received
upon death of the employee together with his share in contribution towards meeting
30% of Rs.3115 crores which is estimated and reckoned as the funding gap for those
eligible under Clause (3), (4) and (5) of this agreement. On an individual basis, the
payment over and above the bank’s contribution to Provident Fund and interest
thereon has been worked out at 56% of the said amount of bank’s contribution to
Provident Fund and interest thereon received on death of the officer.
(6) (i) The existing pension scheme will not be applicable to those who join the services of
banks on or after 1st April 2010.
(ii) Officers joining the services of banks on or after 1st April 2010 shall be eligible for
the Defined Contributory Pension Scheme, the banks will be introducing for them.
The Defined Contributory Pension Scheme proposed to be introduced for them will
be one as governed by the provisions of New Pension System introduced for
employees of Central Government w.e.f. 1st January 2004 and as modified from time
to time. The Scheme shall be regulated and administered by the Pension Fund
Regulatory and Development Authority (PFRDA).
(iii) The officers joining the services of the banks on or after 1st April 2010 shall
contribute 10% of Pay and Dearness Allowance towards the Defined Contributory
5
Pension Scheme and the bank shall make a matching contribution in respect of these
officers.
(iv) There shall be no separate Provident Fund for officers joining services of Banks on or
after 1st April 2010.
(7) Officers who ceased to be in service on or after 29th September 1995 in case of
Nationalized Banks / 26th March 1996 in case of Associate Banks of State Bank of
India on account of voluntary retirement under special scheme after rendering service
for a minimum period of 15 years, shall be eligible to exercise an option to join the
Pension Scheme subject to the terms and conditions mentioned for retiring officers
opting for joining the Scheme.
(8) Pension/ Family Pension to those who opt to join the pension scheme complying with
the terms of this Joint Note shall be payable with effect from 27th November 2009,
provided that officers who retired after that date shall get pension from the respective
dates of their retirement. All the Regulations of the Bank Employees’ Pension
Regulations, 1995 / 1996 shall be applicable to those who opt for the Pension Scheme
in terms of this Joint Note except to the extent mentioned in the foregoing Clauses of
this Joint Note.
(9) The terms of this Joint Note shall not be applicable to State Bank of India.
(10) The conclusions arrived and recorded in the above Clauses together with a copy of
the Scheme of Pension will be forwarded to the Government by the IBA for their
approval and further action in terms of Section 19 of The Banking Companies
(Acquisition and Transfer of Undertakings) Act, 1970/1980 by complying with the
procedure for amendment of the relevant Pension Regulations.
(11) The terms of this Joint Note shall be applicable to officers of Private Sector Banks
who are parties to this Joint Note in respect of those who were in the service of the
bank on date of implementation of the Pension Scheme in terms of the Joint Note
dated 29th October 1993 and did not opt for pension.
(12) National Organisation of Bank Officers (NOBO), which is not a party to the Joint
Note dated 29th October 1993, hereby endorses all the terms of the said Joint Note.
6
(13) The Associations which are parties to this Joint Note agree that during the operation
of this Joint Note, they will not raise any demand of any nature whatsoever on any
banks in respect of matters covered by this Joint Note.
(14) Any difference of opinion regarding interpretation of any of the provisions of this
Joint Note, the matter will be taken up only at the level of the Indian Banks’
Association and the Officers’ Associations for discussion.
Mumbai
Dated: 27th April 2010
For Indian Banks’ Association For All India Bank Officers’ Confederation
M V Nair K S Shetty
R Sridharan G D Nadaf
Narayanan Raja P V Mathew
K Ramakrishnan P K Sarkar
Rajeev Rishi T T Natarajan
B B Das K Ananda Kumar
7
K Unnikrishnan T N Goel
M Venugopalan S K Kohli
K Ramakoteswara Rao
G Muthuswamy
K D Kheda
For All India Bank Officers’ Association
Alok Khare
R J Sridharan
S Nagarajan
D K Pauddar
8
Sidharth N Dutta
For Indian National Bank Officers’ Congress
K K Nair
L R Prem Kumar
Subhash W Choudhari
V Ramamohan Reddy
For National Organisation of Bank Officers
M S Bhagwat
A N Madhusudan
Dr. Sunil U Deshpande
S K Rathod
9
SCHEDULE
LIST OF BANKS
1. Allahabad Bank
2. Andhra Bank
3. Bank of Baroda
4. Bank of India
5. Bank of Maharashtra
6. Canara Bank
7. Central Bank of India
8. Corporation Bank
9. Dena Bank
10. Indian Bank
11. Indian Overseas Bank
12. Oriental Bank of Commerce
13. Punjab & Sind Bank
14. Punjab National Bank
15. Syndicate Bank
16. UCO Bank
17. Union Bank of India
18. United Bank of India
19. Vijaya Bank
20. State Bank of India
21. State Bank of Bikaner & Jaipur
22. State Bank of Hyderabad
23. State Bank of Indore
24. State Bank of Mysore
25. State Bank of Patiala
26. State Bank of Travancore
27. Bank of Rajasthan Ltd.
28. The Catholic Syrian Bank Ltd.
29. The Dhanalakshmi Bank Ltd.
30. The Federal Bank Ltd.
31. ING Vysya Bank Ltd
32. The Jammu & Kashmir Bank Ltd.
33. The Karnataka Bank Ltd.
34. The Karur Vysya Bank Ltd.
35. The Lakshmi Vilas Bank Ltd.
36. The Nainital Bank Ltd.
37. The Ratnakar Bank Ltd.
38. The South Indian Bank Ltd.
39. ABN-AMRO Bank, N.V.
40. Bank of America N.A.
41. The Bank of Tokyo-Mitsubishi UFJ, Ltd.
42. BNP Paribas
43. Citibank, N.A.
44. The Hongkong & Shanghai Banking Corporation Ltd.
45. Sonali Bank
46. Standard Chartered Bank