Certainly, our counsellors must be ready.
A favourable verdict also seems depends
on favourable luck. As pleaded by veterans,
let us keep our fingers crossed, let us
implore God, the Almighty for success.
- The General Insurance Employees Voluntary Retirement Scheme, 2004 was brought on the the lines of similar schemes VRSs of Banks, RBI and some other organisations. These schemes were not meant only to benefit the employees. The schemes, no one can deny, were 'management policy decisions' and were intended to rationalise staff strength / to curtail expenditure substantially by reducing the number of employees substantially. No doubt, those who took voluntary retirement got ' good ' benefit of varying degree depending on the conditions stipulated in the schemes. But, it cannot be denied that the instantaneous benefit was at a loss (sacrifice, if one may like to call it) of gradual progression in their career.
Para.21 of the judgement under reference refers to Clause 5(2) of the Scheme which states that the benefit of pay revision effected from a prior - retrospective date shall be extended. It did not say that who opt for VRS shall not be eligible for any benefit accruing to the present or future employees/ pensioners under the Pension Scheme introduced based on GOI pension scheme. The general insurance employer changed the said 'version' while issuing Notification of pay revision that who voluntarily retired under VRScheme are not eligible for revised pay effective from 01-08-2002.
It is stated in Para.26 of the judgement that several judgements were cited by the learned counsel appearing for the employees (pensioners). The learned counsel must have cited RBI which has extended to the pensioners retired under such schemes, the benefit of pay revision that took place in 2002. It is inconceivable that the benefit of revision of pay scales in 2002 has been denied to VRS pensioners of General Insurance.
