Employees of District Central Cooperative Banks (DCCB), who retired from service between 1987-1988 and 1994-1995, would be given an ex-gratia pension of Rs. 2,500 per month.
They were not covered under the pension scheme of 1995. Such persons would be paid pension by the respective DCCBs, according to an official release on Friday.
Chief Minister M. Karunanidhi issued an order to this effect in response to the demand from an organisation of retired employees of the Banks as those who retired from service prior to 1995 were not given pension.
The release also stated that those who were being covered under the pension scheme would be given a minimum pension of Rs. 2,500 a month. In respect of heirs of deceased employees of the Banks who were covered under the scheme, a family pension of Rs. 1,250 would at least be given. The DCCBs concerned would bear the additional financial burden.
Keywords: pension scheme