Madras High Court· 23 September 2026

Does Regulation 29 of the Indian Bank (Employees') Pension Regulations, 1995 apply to erstwhile employees who resigned the post?

K.Kasinathan v. Indian Bank

WA.2325/2026 · 2026:MHC:3966 · WA No. 2325 of 2026
Coram: Justice S. M. Subramaniam · Justice Krishnaswamy Govindarajan

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Answer

Regulation 29 of the 1995 Pension Regulations does not apply to erstwhile employees who resigned the post.

No. Regulation 29 of the 1995 Pension Regulations does not apply to erstwhile employees who resigned the post. Regulation 29 governs pension on voluntary retirement, and its 20 years of qualifying service is only the condition for accepting a voluntary retirement application. The Bank's refusal on that ground, against an officer who resigned before the Scheme was implemented and was never relieved under a voluntary retirement scheme, was incorrect.

Headnote

Indian Bank (Employees') Pension Regulations, 1995 — Regulations 14 and 29 — 12th Bipartite Settlement — Clause 37 — Resigned former employee — Qualifying service — Pension — Pension Regulations, 1995 — Regulation 29 — Voluntary retirement — 20 years of qualifying service — Held: The requirement of 20 years of qualifying service applies only to accepting a voluntary retirement application under Regulation 29, which has no application to erstwhile employees who resigned the post. (¶9) Pension Regulations, 1995 — Regulation 14 — Resigned former employee — Minimum qualifying service — Held further: An employee in service after 01.01.1986 who resigned before 26.04.2010 with the minimum of ten years of qualifying service is eligible for pension under Regulation 14, consistently with Clause 37 and the amendment of 14.10.2025. (¶10, 11) Clause 37, 12th Bipartite Settlement — Refund of Provident Fund contribution — Undertaking — Held further: He must agree to refund the Bank's contribution to Provident Fund with accumulated interest and execute an undertaking, whereupon the Bank is bound to permit him to join the Pension Scheme. Writ appeal allowed. (¶11, 12)

Headnote

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In the Court's own words

Paragraph 9Let us now consider the facts of the present case. The appellant-in-person joined the bank on 26.12.1977 and resigned from service on 19.02.1995. He rendered 17 years of qualifying service. The arguments made on behalf of the respondent bank that 20 years of qualifying service are required for availing the Pension Scheme is incorrect in view of the fact that 20 years of qualifying service is required only for accepting the voluntary retirement application submitted by the employee. This is made clear under Regulation 29, which deals with Pension on voluntary retirement. An employee submitting voluntary retirement application is eligible for voluntary retirement only on completion of 20 years of qualifying service. Regulation 29 deals with pension on voluntary retirement and therefore the said clause would have no application in respect of the erstwhile employees, who resigned the post. In the present case, the appellant resigned from the post even before implementation of Pension Scheme, 1995 and he is not the employee relieved under the voluntary retirement scheme. This fact was admitted by the respondent bank in their counter.

Acts & Sections

Regulation 14 Indian Bank (Employees') Pension Regulations, 1995Regulation 29 Indian Bank (Employees') Pension Regulations, 1995

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Also decided in this judgment

Is a resigned former employee with the minimum of ten years of qualifying service eligible for pension under Regulation 14 of the Indian Bank (Employees') Pension Regulations, 1995?Must a resigned former employee joining the Pension Scheme under Clause 37 of the 12th Bipartite Settlement refund the Bank's contribution to Provident Fund and execute an undertaking?

Plain-language answer prepared by the LexStreak Editorial Desk — verify against the judgment. Source: Madras High Court. Corrections