I am working with SBI for 21 years. So far I knew that for going for VRS with pension 20 years pensionable service is required. Accordingly, I applied for VRS after that I came to know that for getting pension some other criteria is required to be fulfilled as per the following. Please advise me whether I shall get pension or not. BANKING RULE ---------------------- A member of the State Bank of India Employees Pension Fund shall be entitled for pension under Rule 22(i) while retiring from the Bank’s service:- a) After having completed 20 years pensionable service provided that he has attained the age of 50 years; or b) If he is in the service of the Bank on or after 01.11.1993 after having completed 10 years pensionable service provided that he has attained 58 years of age. Further, if he is in the service of the Bank on or after 22.05.1998, after having completed 10 years pensionable service provided that he has attained the age of 60 years(Corp.Centre Memo No./CDO/PM/16/M/246 dt. 19.07.2001 & Corp.Centre Circular No./CDO/PM/16/CIR/51 dt. 08.11.2001. c) After having completed 20 years pensionable service irrespective of age he shall have attained, if he shall satisfy the Authority Competent to sanction his retirement by approved medical certificate or otherwise that he is incapacitated for further active service, d) After having completed 20 years pensionable service, irrespective of the age he shall have attained at his request in writing if accepted by the Competent Authority w.e.f 20.09.1986 (Corp. Centre Circular No./PA/CIR/140 dt. 20.09.2006) e) After 25 years pensionable service. f) A member who has attained the age of 55 years or who shall be proved to the satisfaction of the authority empowered to sanction his retirement to be permanently incapacitated by bodily or mental infirmity from further active service, and not as a result of irregular or intemperate habits, may, at the discretion of the Trustees, be granted a proportionate pension.
Why not create one now for free in under 10 minutes!