taken to restructure the 1995 Scheme
from 'Defined Benefit' to 'Defined Contribution' Scheme. Under the
restructured Scheme, contribution structure was changed ... they would also be governed by the 1995 Scheme and 2003 Scheme will be
inapplicable. 1995 Scheme was regulated by Trust Deed dated 12.03.1997.
Clause
unamended Pension Scheme were informed that
the Pension Scheme is modified with another scheme and as per
the amended Scheme, the employees will ... employees and the said scheme is called as the “Defined
Contribution Scheme”.
2.7. According to the petitioner, the Defined
Contribution Scheme introduced through the impugned
unamended Pension Scheme were informed that
the Pension Scheme is modified with another scheme and as per
the amended Scheme, the employees will ... employees and the said scheme is called as the “Defined
Contribution Scheme”.
2.7. According to the petitioner, the Defined
Contribution Scheme introduced through the impugned
existing scheme on the date of retirement. The pension scheme, as
originally conceived and formulated, was a rolling scheme postulating
outgoing employees on retirement ... participants to pay retiree benefits. However, corporate or
occupational defined benefit or defined contribution schemes tend to be
funded both partially and fully. Funding requires
scheme:-
(1) Any scheme or arrangement which satisfies the
conditions referred to in sub-section (2) shall be a
collective investment scheme.
(2) Any scheme ... applies;
(iv) providing for any Scheme, Pension Scheme or the
Insurance Scheme framed under the Employees
Provident Fund and Miscellaneous Provisions
existing scheme on the date of retirement.
The pension scheme, as originally conceived and formulated,
was a rolling scheme postulating outgoing employees on
retirement ... participants to pay retiree benefits. However, corporate
or occupational defined benefit or defined contribution
schemes tend to be funded both partially and fully.
Funding requires
that it has decided to continue with the scheme as additional welfare scheme and that the scheme is compulsory for all the existing members ... decided to continue with the scheme as additional welfare scheme. MOU was arrived at modifying PRBS as Defined Pension Model. Income Tax Commissioner had also
were actually given
appointment by the respondents after 01.01.2006, New Defined
Contributory Pension Scheme was made applicable upon them instead of
Old Pension Scheme ... date, Old Pension Scheme had
already been scrapped and New Defined Contributory Pension Scheme
came into being, the petitioners were not given the benefit
existing scheme on the date of retirement. The pension scheme, as
originally conceived and formulated, was a rolling scheme postulating
outgoing employees on retirement ... participants to pay retiree benefits. However, corporate or
occupational defined benefit or defined contribution schemes tend to be
funded both partially and fully. Funding requires
under a "defined benefit scheme". CPSEs
that do not have superannuation scheme, may develop such scheme and
obtain the approval of their Administrative ... Scheme Fund after
01.01.2007. If the employees' collectives wish to sustain their SBF Scheme
to provide maximum defined benefits on the revised salaries actually
