Section 23 in Reserve Bank of India Pension Regulations, 1990
23. Addition to qualifying service in special circumstances.
(1)At Bank's discretion an employee shall be eligible to add to his service qualifying for superannuation pension (but not for any other class of pension) the actual period not exceeding one-fourth of the length of his service or the actual period by which his age at the time of recruitment exceeded twenty-five years or a period of five years, whichever is less if the service or post to which the employee is appointed is one -(a)for which post-graduate research, or specialist qualification or experience in scientific, technological or professional fields, is essential; and(b)to which candidates of more than twenty-five years of age are normally recruited.Provided that this concession shall not be admissible to an employee unless his actual qualifying service at the time he quits the Bank's service is not less than ten years.Explanation. - This concession shall not be available to an employee recruited in the Bank at more than twenty-five years of age merely on the basis of relaxation of age.(2)An employee who is recruited at the age of thirty-five years or more, may, within a period of three months from the date of his appointment, elect to forgo his right to pension whereupon he shall be eligible to subscribe to Contributory Provident Fund.(3)The option referred to in sub-regulation (2) once exercised shall be final.
