- (1.) Can a set of retired employees claim parity, as regards retiral benefits, with another set of employees of the same rank retiring at a later date, by invoking Article 14 of the Constitution of India , is the riddle that craves resolution in the instant intra court appeals brought by retired employees/officers and associations of retired employees/officers of various banks (here-in-after referred to as 'the appellants'), under Clause X of the Letters Patent to assail the correctness of judgment dated April 16, 2012 whereby the learned Single Judge has answered the question against the appellants by dismissing the civil writ petitions brought by them.
(2.) The appellants claim to have retired between January 01, 1986 to October 31, 2002 from various banks and grievance put forth by them in the writ petitions was that there has been no updation of their pension in the manner contemplated at the time when pension scheme was introduced in the year 1995 pursuant to a settlement reached between the bank employees and the Management (through Indian Banks' Association or say IBA) on October 29, 1993.
(3.) Let us first have an overview of the history of the case. Prior to the year 1993 employees of various banks operating in the country were not allowed pension and, instead they were allowed to subscribe to Contributory Provident Fund. On October 29, 1993 a Memorandum of Settlement (herein-after referred to as 'the settlement') was entered into between the management of the banks represented by the IBA and representatives of workmen Union and the officers Union/Association whereby it was agreed to introduce pension scheme for employees of the banks in lieu of Contributory Provident Fund. Based upon the settlement the banks formulated their respective pension schemes in the year 1995. Originally the pension schemes were made applicable to all employees who had retired from November 01, 1993, but later, through independent notification, the schemes were made applicable also to those who had retired from January 01, 1986 onwards.;