CHANDIGARH: Punjab Finance and Co-operation Minister Mr. Harpal Singh Cheema, on Friday, has ordered to release Rs. 62.68 crore for pensioners and widows of the Punjab State Cooperative Agriculture Development Bank so that pension and arrears could be released to pensioners.
Finance and Cooperation Minister Mr. Cheema has taken this decision regarding the retired employees of the bank on priority basis to protect the social and financial interests of hundreds of pensioners and their widows which would provide pensions and arrears to about 1130 pensioners and their families, informed the senior officials of Punjab State Cooperative Agricultural Development Bank, adding that this decision will also provide financially help to the bank.
Finance Minister directed the officers to immediately credited amount in beneficiary pensioners and their widows' accounts.
Notably, the bank had started pension scheme for it's retired employees in 1989, which was discontinued in 2013. The retired employees filed petition in the Punjab and Haryana High Court against the decision and the Court ordered to pay pensions to the beneficiaries in 2019, which was again challenged by the department through SLP in the Hon'ble Supreme Court of India. Upholding the decision, the Supreme Court also ordered on January 11, 2022 that the pension should be restored and the arrears to the pensioners should be released in 12 equal monthly installments from January 2022.
Pertinently, despite the judgement of Supreme Court pronounced on 11-01-2022 the previous government has not decided to release financial assistance to resolve this issue. Considering the interests of pensioners and widows, Mr. Harpal Singh Cheema has resolved the issue on priority.