PESHAWAR: The SBP Pensioners Welfare Association has demanded the recalculation of family pension on the basis of annual increment as per rules and regulations of the central bank.
Talking to this scribe, a member of the SBP Pensioners Welfare Association, said that to the rules and regulations framed by the central bank, they are entitled for 70% family pension as they have invested 50% of their pension in the bank and the SBP was bound to pay on grass pension basis.
The association in this regard has written an application to the Governor SBP Jameel Ahmad seeking his intervention into the matter.
They stated, that in the SBP, the periodical increase in pension was being calculated for about 30 years, w.e.f 01.07.1981 to 30.06.2012 on the basis of gross pension (i.e. pension before commutation plus periodical increase in pension in the past just after introduction of pension scheme in the bank) in terms of the (A) Finance Division, Government of Pakistan circular letter No.12 (1)-Reg 96) 81 dated 25.07.1981 (B) SBP Admin circular No.4 dated 16.01.1982 and SBP admins circular No.15/Reg.11 (VII)-82 dated 30.01.1982.
W.e.f 01.07.2012, the SBP vide letter No.HRD/RMU/F-15 (II) 2450/2012 dated 01.10.2012 unilaterally revised the basis for calculation of increase in pension from gross pension plus increase to existing pension without considering the statutory rules relating to increase in pension still in practice.
The decision of SBP Board of Directors carries no value in presence of statutory provisions and guarantees. The BoD has no authority under the law to assume the legislative role of the parliament, as in their case without bringing in amendments in the statutes no decision detrimental to the interest of employees could have been taken.
Just imagine, the basis of increase in pension has been reduced, started applying the same (from gross pension plus periodical increase to existing pension) without approval of the federal government is absolute violation of the principles settled by the Supreme Court of Pakistan in the case of Muhammad Tariq Badar VS National Bank of Pakistan (2013 SCMR 314).
B. In case of ‘Fawad Badar VS SBP’ in civil appeal No. 62-K/2012 &CA No.364-365/of 2013 the following law points were settled.
I. Employees shall be governed by the rules which were prevalent at the time of retirement obviously the rules of 1981 &1982 mentioned above under Para-1
II. Rights of retired employees cannot be curtailed or refused.
III. Subsequent rules would not deprive the retired employees from the statutory entitlement.
C. As on 01.07.2012 when SBP changed the criterion/ basis for admissibility of increase in pension from gross pension plus increase to existing pension vide its letter dated 01.1-.2012 referred to above, there were two groups of pensioners in the bank, one whose commuted pension was already restored after lapse of particular period of terms of admin circular No.21 dated 22.07.1986 and hence they were already getting periodical increase in pension on the basis of gross pension plus increase. Whereas on the other hand there were a large number of pensioners, whose commuted pension was not restored and they were illegally deprived of their right to receive increase in pension on the basis of gross pension plus increase and compelled these employees causing recurring financial loss each month, which is clear violation of the bank’s rules and Supreme Court order dated 05.08.2022 in C.P No. 1243-49/2022 and would also offend against Article 25 of the Constitution of the Islamic Republic of Pakistan.
They said that the payment of increase in pension as per rules of 1981 and 1982 is the absolute liability of the State Bank of Pakistan particularly when claim of the employees’ pension neither comes under principle of laches nor estoppel.
The association has requested the Governor SBP to consider the claim of the pensioners sympathetically and direct the concerned departments to re-calculate pension of the retired employees w.e.f to date of restoration of commuted pension as per previous practice of the SBP from 01.07.1981 to 30.06.2012 at the earliest on the basis of amount of gross pension plus all increases made by the bank as per mentioned rules at the earliest.
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