TMI Blog2003 (12) TMI 642X X X X Extracts X X X X X X X X Extracts X X X X ..... ignation, the Pension Regulations came to be operative. The said Regulation was made in exercise of powers conferred by clause (j) of sub-section (2) of Section 58 of the Reserve Bank of India Act, 1934 (for short the 'Act'). The Central Board of the employer-bank with the previous sanction of the Central Government made the Regulations. The Reserve Bank of India Staff Regulations, 1948 (in short 'Staff Regulations') which were subsequently amended w.e.f. 7.2.1992 were in operation at the relevant time governing the service conditions. Regulation 26 of the 1948 Regulations dealt with the age of retirement. Sub-rule (3) thereof which has some relevance to the present disputes provides that an employee who has attained the age of 50 years may voluntarily retire after giving to the Competent Authority three months' notice in writing. Though several other provisions were incorporated in the Regulation w.e.f. 7.2.1992, this provision in sub- rule (3) continued unamended. By Pension Regulations prescriptions were made for granting pension to certain categories of employees. Regulations 2(12) and 18 thereof read as follows: 2(12): 'Retirement' means retirem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Provided further that the Bank may, in its discretion, retire in public interest an employee, other than an employee in Class IV, at any time after completion of 50 years of age; Provided further in the case of an employee in Class III and Class I, who has attained the age of 55 years, his continuance in service upto the age of 60 years shall be subject to his being found suitable to be retained in service. (2) The power conferred by the provisions to sub-regulation (1) shall be exercised by the Governor, with the prior approval of the Central Board in the case of officers and by the Manager, subject to such general or special instructions as may be issued by the Governor, in the case of other employees. (3) An employee who has attained the age of 50 years may voluntarily retire after giving to the competent authority three months' notice in writing. (3A) Without prejudice to sub-Regulation (3), an employee may voluntarily retire after giving to the competent authority three months notice in writing provided he has completed 20 years of service if he is not governed by the Reserve Bank of India Pension Regulations, 1990 and 20 years of qualifying service as defined ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1990 Pension Regulations. It also recorded a finding that there cannot be any doubt that resignation from service being not equivalent to dismissal or termination which are the acts of the management, is more akin to voluntary retirement. It held that as Regulation 18 of the Pension Regulations was not attracted, the claim for pension was to be allowed. The Pension Regulations clearly ruled out payment of pension for those employees who go out by tendering resignation. There was no question of the respondents-employees taking voluntary retirement as they had not attained the age of 50 years in terms of sub-Regulation (3) of Regulation 26 of the Staff Regulation of 1948. The respondents- employees have not stated as to under which statute or Regulation they were claiming pension. From the tenure of the pleadings in the writ petition and the arguments it appears that they wanted only to get advantage of Pension Regulations. But at the same time they contended that it did not have retrospective operation. Per contra, learned counsel for the respondents-employees submitted, only 37 employees were to be benefited and only 3 had approached the Court. That being the position, this is n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Court was also in error in equating the case of resignation to voluntary retirement. The two are conceptually different in the service jurisprudence and different consequences would flow depending upon one or the other of the courses. Under Regulation 26 of the Staff Regulations, four types of retirements were contemplated as on Ist November, 1990 i.e. (a) Retirement on Superannuation, (b) Compulsory Retirement on Invalidation, (c) Compulsory Retirement and (d) Voluntary Retirement. Resignation does not fit into any one of the said categories. In service jurisprudence, the expressions superannuation, voluntary retirement, compulsory retirement and resignation convey different connotations. Voluntary retirement and resignation involve voluntary acts on the part of the employee to leave service. Though both involve voluntary acts, they operate differently. One of the basic distinctions is that in case of resignation it can be tendered at any time; but in the case of voluntary retirement, it can only be sought for after rendering prescribed period of qualifying service. Other fundamental distinction is that in case of the former, normally retiral benefits are denied but in c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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