EXTENTION OF FACILITY OF REMBS AND REPAYMENT OF HOUSING LOAN TILL THE AGE OF 75 YEARS

ALL INDIA STATE BANK OFFICERS’ FEDERATION CIRCULAR NO.119 DATE: 07.10.2015Is reproduced for the information of all the members.

EXTENTION OF FACILITY OF REMBS AND REPAYMENT OF HOUSING LOAN TILL THE AGE OF 75 YEARS FOR OFFICERS OPTING FOR VOLUNTARY RETIREMENT

We refer to the innumerable correspondence with the Management and the representations that we had made in the various Central Negotiation meetings in respect of the above issues. We had been requesting the Management to extend the facility of REMBS (Retired Employees Medical Benefit Scheme) to those officers who opt for Voluntary Retirement (VRS), before attaining the age of Superannuation. We had also requested that the facility of extension of repayment of the Housing loan upto the age of 75 years be extended to officers who take VRS even before Superannuation (i.e., before the age of 60 years), at least to officers who put in 30 years of pensionable service.

2. Hitherto, such facilities were only available to officers who retired on superannuation. The issue came up, for discussion on many occasion and we are happy to inform you that the Bank has accepted our suggestions and has extended the facility of REMBS, and extension of repayment of Housing loan upto 75 years to officers who opt for VRS after 30 years of pensionable service and attaining 58 years of age, vide their Circular No. CDO/P&HRD – PM/58/2015-16 dated 7th October, 2015.

3. We would like to inform that we shall strive for further improvements and keep you informed on the developments.

With greetings, General secretary

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