I have gone through the above communication published in Chronicle. It is very relevant to our cases in SC and hence it is also very timely on the part of the Chronicle to publish it.
The following points raised in the said communication by MOF/GOI appears to be very important to our cases also. These need our counsels' serious attention and consideration to help them prepare our efficient rebuttals to the LIC counsels who too would have been given this document besides other objections raised by MOF/GOI.
1. The Pension Regulations for Fin. Institutions are very specific about "how the average emoluments shd be arrived at". It is the average pay "actually drawn" and NOT ON THE NOTIONAL PAY.
2. The FIs cannot issue Administrative Orders over riding Statutory Regulation and if issued are NOT sustainable.
3. The FIs can exercise only such powers which are specifically vested/authorised in Pension Regulations. Their BOARD is NOT ENTITLED TO ISSUE, USURP AND EXERCISE SUCH POWERS WHICH ARE NOT VESTED WITH IT.
4. There is NO PROVISION FOR UPDATION OF PENSION in the Pension Regulations.
5. The Service conditions of Central Govt Employees are ENTIRELY DIFFERENT from that of FIs Employees and orders issued in case of Central Govt Employees Pension Rules are NOT MUTATIS MUTANDIS APPLICABLE TO FIs EMPLOYEES.
6. If that is so, the New Pension Scheme for Central Govt Employees introduced w.e.f. 1-1-2004 would have been made applicable to the FIs Employees also. But it is not done. This goes against the grain of the contention that any changes in Central Govt employees Pension Rules are equally applicable to the FIs Employees Pension Regulations also.
7. The case of D.S Nakara vs GOI is NOT APPLICABLE to the FIs Employees.
8. FIs Employees have AN EDGE over the CG Employees on Gratuity, Pay Structuring, Wage Revision once in 5 years and the stage-to-stage Pay fixation on Wage revision. If each Service is allowed CHERRY-PICKING the best of other services, then it would lead to an anarchical situation.
9. Even if FI Pension Regulations are modelled on the CG Employees Pension Scheme, any changes/amendments in the original Scheme do not construe to be carried out in the FI Pension Regulations.
10. Only to take care of the increasing cost of living, the FI Pensioners are paid Dearness Relief based on the Cost of Living Index. As such the question of up gradation does not arise for the FI Pensioners.
11. Any deviation/amendment of provisions of FI Pension Regulations without formally amending it after following the procedure prescribed by the relevant Act WILL NOT BE PERMISSIBLE UNDER THE LAW.
The above points raised by MOF/GOI against the up gradation demand of RBI Pensioners will be adduced by the Babu-dum against the LIC Pensioners ALSO IN SC. Therefore our Counsels will have to be well prepared to thwart these arguments/objections.
