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Interpretation of Pension Regulations and Staff Regulations Retrospective application of Regulations Distinction between resignation and voluntary retirement Interpretation of Pension Regulations and Staff Regulations: The case involved a dispute regarding the entitlement of employees to pension benefits under the Reserve Bank of India Pension Regulations, 1990. The employer contested the High Court's decision that the employees were eligible for pension as per the Regulations. The Court analyzed the relevant provisions of the Pension Regulations and Staff Regulations to determine the employees' rights. It was noted that Regulation 18 of the Pension Regulations specified forfeiture of service on resignation, dismissal, or termination, leading to ineligibility for pension payment. The Court highlighted the distinction between resignation and voluntary retirement, emphasizing that resignation does not qualify for pension benefits as per the Regulations. The employees had not met the age requirement for voluntary retirement as per the Staff Regulations, further supporting the denial of pension benefits based on resignation. Retrospective application of Regulations: The High Court had ruled that the Pension Regulations did not have retrospective operation, leading to the employer's obligation to grant pension benefits to the employees who had resigned before the Regulations came into effect. However, the Supreme Court disagreed with this interpretation, emphasizing that the Regulations clearly excluded pension payment for employees resigning from service. The Court found that the employees were attempting to leverage the Pension Regulations for their benefit while denying the retrospective application of the Regulations. The Court held that the High Court's approach was flawed and set aside the judgment, dismissing the writ petitions filed by the employees. Distinction between resignation and voluntary retirement: The judgment delved into the nuanced differences between resignation and voluntary retirement in the context of service jurisprudence. It highlighted that while both involve voluntary acts by the employee to leave service, they have distinct consequences and conditions. Voluntary retirement requires a prescribed period of qualifying service and permission from the employer, unlike resignation, which can be tendered at any time without such requirements. The Court cited previous cases to illustrate the legal implications of resignation and voluntary retirement, emphasizing that resignation does not align with the categories of retirement outlined in the Staff Regulations. Ultimately, the Court ruled in favor of the employer, overturning the High Court's decision and dismissing the employees' claims for pension benefits. In conclusion, the Supreme Court's judgment clarified the application of Pension Regulations and Staff Regulations in determining pension entitlements, addressed the issue of retrospective operation of Regulations, and elucidated the distinctions between resignation and voluntary retirement in the realm of service jurisprudence.
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