Section 33 in Canara Bank (Employees') Pension Regulations, 1995
33. Compulsory Retirement Pension.
- [(1) An employee compulsory retired from service as a penalty on or after 1st day of November, 1993 in terms of Canara Bank Officer, Employees (Discipline and Appeal) Regulations, 1976 or awards/ settlements may be granted by the authority higher than the authority competent to impose such penalty, pension at a rate not less than two-third and not more than full pension admissible to him on the date of his compulsory retirement if otherwise he was entitled to such pension on superannuation on that date.] [Amended w.e.f. 30.11.2002, ref Circular No. 265/2002, dated 24.12.2002](2)Whenever in the case of a bank employee the Competent Authority passes an order (whether original, appellate or in exercise of power of review) awarding a pension less than the full compensation pension admissible under these regulations, the Board of Directors shall be consulted before such order is passed.(3)A pension granted or awarded under sub-regulation (1) or, as the case may be under sub-regulation (2) shall not be less than the amount of rupees three hundred and seventy five per mensem.
