ONGC POST RETIREMENT BENEFIT SCHEM(PRBS)

This judgement is cited with reference to ONGC Post Retirement Benefit Scheme..............

A full bench of Supreme Court has declared in their historical judgement that PENSION is to live from want in one's fall of life with decency, independence and self-respect and at a standard equivalent at the pre-retirement level. Pension is not only compensation to loyal service rendered in the past but it has a broader significance in that it is a measure of socio-economic justice which inherits economic security in the fall of life when physical and mental prowess is ebbing corresponing to aging process and, therefore, one is required to fall back on savings. One such saving in kind is when you give your best in heyday of life to your employer, in days of invalidity, economic security by way of periodical payment is assured. The term 'Pe nsion' has been judicially defined as a stated allowance or stipend made in consideration of past service or a surrender of rights or emoluments to one retired from service.

Pension is not a bounty payable on sweet will and pleasure of the Government. Right to superannuation including its amount is a valuable right vesting in a government servant (D.S.Nakara Vs UOI 1983 1 SLJ)