Retirees Woes

To reduce organisational flab, Punjab National Bank branches introduced the voluntary retirement scheme which I opted for on medical grounds in June 1995 as manager and as per circular no 1 dated April 21, 1994 of the bank.

I applied for the takeover of the banks furniture at 25 per cent of its original cost of Rs 11,531 as 10-year-old furniture can be retained by retiring officers. The book value of the furniture stands at Rs 9 only as per the banks record. I repeatedly requested in my various representations to the bank that since I have put nearly 28 years of unsullied service to the bank, the facility of takeover of the banks furniture at 25 per cent of its original cost may be granted to me.

Strangely enough, I have now been informed by the bank to not only surrender but also pay Rs 11,442.50 as rent for two years @ 5 per cent on the last basic pay drawn, on furniture that is about 13 to 14 years old. Isnt it a great injustice to a retiree who opted for VRS just two years before the scheduled retirement date on medical grounds?

After all, retirees who opt for voluntary retirement scheme are free goodwill ambassadors and public relation officers of the ba- nk. The bank should have a bene- volent attitude towards old and ex-employees.