AIBOC CIRCULAR NO. 89 DATED 9TH JUNE 2010

AIBOC issued its circular No. 89 on publication of booklet on 2^nd option on pension. We are reproducing the same here for our readers.

CIRCULAR NO:89                               9^th JUNE, 2010

TO ALL AFFILIATES/MEMBERS:

2^ND OPTION ON PENSION: BOOKLET RELEASED

In response to the enquiries from our members, the representatives of the affiliates and the State Units all over the country on various aspects connected with the settlement that has been reached by the Confederation in regard to the extension of 2^nd Option on Pension to those who had not opted earlier, we have now come out with a detailed publication providing all the relevant details which would be helping them to take a quick view on the issue and exercise their option within the time limit that may be prescribed at the time of the Notification to this effect. We had already circularized the information about the publication and there were anxious enquiries as to the supply of copies to our members, the affiliates, the State Units etc., and we will be attending to all those requests in due course.

In the meanwhile, we wish to re-iterate our position that the inputs provided in the booklet is to throw a light on the entire gamut of the 2^nd Option on Pension and also to give out our mind in regard to the decision making process.  However, as regards the individual cases that need to be worked out to find out the final position on the various components that have been covered in the booklet such as the commutation amount, family pension the final fixation of Pension etc., each case needs to be individually worked out and may not exactly tally with the examples furnished.  The examples furnished are only guidelines to our members to enable them to workout their individual cases without seeking any assistance from the Management or other concerned.  Hence, they have to workout individually their own cases and in case of any doubts, or clarifications that are required they should be in touch with their respective affiliates for further guidance and advice. They are also free to contact the Head quarters of the Confederation along with all the details in case they need our guidance in the matter.

We are confident that the booklet will be of immense help to our members both serving and retired and would help them to arrive at the right decision and to opt for the Pension in the interest of their own well being and the members of their families.

With greetings,

Sd/-

(G.D. NADAF)

GENERAL SECRETARY