Section 19 in State Bank of India Employees Pension Fund Regulations, 2014
19. Employment after retirement.
(1)If an officer of the Bank who is entitled to pension under these regulations intends to accept employment in any other Bank at any time or any other commercial employment within one year from the date of retirement, he should obtain the previous sanction of the competent authority and in such case, the competent authority shall consider such proposals in accordance with the guidelines, laid down from time to time by the Executive Committee.(2)In exceptional circumstances, where the proposal does not conform to the guidelines laid down by the Executive Committee or the permission is proposed to be declined, it shall be considered by the Executive Committee and in case if the officer undertake such employment without the sanction required under this regulation it shall be competent for the trustees to withdraw the pension payable to him either in whole or in part at their discretion:Provided that an officer permitted by the Executive Committee to take up a particular form of commercial employment during his leave preparatory to retirement shall not be required to obtain subsequent permission for his continuance in such employment after retirement.(3)Where an officer employee has applied for previous sanction to the competent authority under sub-regulation (1), it shall either permit the employee to take up the employment in any other Bank or commercial employment or refuse such permission after giving the employee an opportunity of being heard:Provided that where the competent authority does not communicate its permission or refusal to the applicant within a period of ninety days of the receipt of the application by it, the competent authority shall be deemed to have permitted the employee to take up the said employment :Provided further that where the competent authority has called for further information or clarification from the employee, the period taken by the employee in furnishing the required information or clarification shall be excluded for the purpose of computing the aforesaid period of ninety days.
