Section 50(6) in United Bank of India (Employees') Pension Regulations, 1995
(6)If any pensioner takes up any commercial employment at any time before the expiry of one year from the date of his retirement without the prior permission of the Bank or commits a breach of any condition subject to such permission to take up any commercial employment has been granted to him under this regulation, it shall be competent for the Bank to declare by order in writing and for reasons to be recorded therein that the shall not be entitled to the whole or such part of the pension of the pension and for such periods as may be specified in the order:Provided that no such order shall be made without giving the pensioner concerned an opportunity of show cause against such declaration:Provided further that in making any order under this sub-regulation, the Bank shall have regard to the following factors namely:-(i)the financial circumstances of the pensioner concerned;(ii)the nature of, and the emoluments from, the commercial employment taken up by the pensioner concerned, and;(iii)any other relevant factor.
