An employee shall be eligible to add to his service qualifying for superannuation pension (but not for any other class of pension) the actual period not exceeding one fourth of the length of his service or the actual period by which his age at the time of recruitment exceeded the upper age limit specified by the Bank for direct recruitment or a period of five years, whichever is less, if the service or post to which the employee is appointed is one,
(a) for which post-graduate research, or specialist qualification or experience in scientific, technological; or professional fields, is essential; and
(b) to which candidates of age exceeding the upper age limit specified for direct recruitment are normally recruited;
(c) for which the candidate was given age relaxation over and above the maximum age limit fixed by the Bank on account of his possessing higher qualifications or experience:
Provided that this concession shall not be admissible to an employee unless his actual qualifying service at the time he quits the service in the Bank is not less than ten years:
Provided further that this concession shall be admissible if the recruitment rules in respect of the said service or post contain specific provision that the service or post is one, which carries benefit of this regulation:
Provided also that the recruitment rules in respect of any service or post which carries the benefit of this regulation shall be made with the approval of the Central Government.
27. Counting of service rendered on permanent part-time basis -
(1) In case of an employee who was employed on scale wages and on a permanent part-time basis in the service of Bank and was contributing to the Provident Fund, such service rendered by him on a permanent part-time basis from the date he became a member of the Provident Fund shall be counted as qualifying service.
18
(2) For the purpose of calculating the amount of pension in respect of a part time employee who was/is initially recruited on a lower scale wage and later fitted on higher scale wages including full scale wages, the length of qualifying service shall be determined in accordance with Appendix IV 19.
(3) in respect of part time employees who continue to be in the same scale wages since their recruitment, for the purpose of calculating the amount of pension, the actual service put in shall be taken as qualifying service. In such cases the actual pay drawn on scale wages at the time of retirement shall be reckoned for the purpose of average emoluments20.
Note:
The actual service / qualifying service shall be calculated from the date of recruitment or 01.09.1978, whichever is later.
___________________________ 19 Amended w.e.f. 30.11.2002 – Ref. HO Circular 265/2002 dated 24.12.2002 20 Inserted w.e.f. 30.11.2002 – Ref. HO Circular 265/2002 dated 24.12.2002 19
CHAPTER V CLASSES OF PENSION