P SIVASANKARAN Vs. SECRETARY THE RAILWAY EMPLOYEES

JUDGEMENT

(1.) IN all these writ petitions, the resolution of the board of Management dated 15.12.2004 of the Railways Employees Cooperative Credit Society Ltd, in ratifying the approval accorded by the Chairman of the Society, in accordance with the recommendations of the subcommittee going into the demands of staff union, winding up of Staff Retirement Benefit Fund Scheme and enhancement of compensation payable to V.R.S. optees is in question by way of declaration, as it is illegal and for a direction to continue to pay pension financial assistance to the petitioners.

(2.) THE petitioners are working as adhoc Clerks in the Railway Employees Cooperative Credit Society Ltd., and put in substantial years of service and having more years of service. THE Railway Employees Cooperative Credit Society by a circular dated 29.01.1991 has introduced a pension scheme to the staffs of the society. According to the said scheme, the employees having service upto 10 years and below are to contribute monthly contribution at the rate of 3% of their basic pay. In respect of employees, having service of more than 10 years for retirement, the contribution fixed at 2% of basic pay and the contribution to be effected commencing February 1991 salary of all the staffs and the pension scheme was to be operative from 01.07.1987. THE petitioners who are having more than 10 years of service have contributed at the rate of 2%, as per the scheme, from the year 1991. In the year 1998, the contribution was increased by 1% and the increased contribution has also been paid.

(3.) IT is stated in the counter affidavit filed by the first respondent in the said writ petitions, as if the petitioners have accepted that as serving employees who opted for retirement they are not entitled for pension under Staff Recruitment Benefit Fund Scheme. IT was also stated by the first respondent society that the society was offering refund of contribution made from February 2005 to September 2005 and send the same and the same has not been encased by the petitioners.