JUDGMENT

Rajiv Shakdher, J. (Oral) - This appeal is directed against the judgment dated 24.11.2022 passed by the learned Single Judge.

2. The central issue that arises for consideration is whether respondent no.1, i.e., the contesting respondent was entitled to be accorded the benefit of the pension scheme framed by the appellant via circular dated 01.01.2013.

3. The record shows that respondent no.1 was inducted into employment, by the appellant/Bank, as a Probationary Officer (PO), in 1977.

3.1. The record also reveals that respondent no.1 applied for voluntary retirement with effect from 30.10.1998, which was accepted on 26.10.1998.

4. It is not in dispute that the appellant/Bank had launched pension schemes on various occasions.

4.1. The first time around, the option for availing pension was embedded in the UCO Bank (Employees) Pension Regulations, 1995 [in short, "Regulations"], which was notified on 29.09.1995.

4.2. The second time employees of the appellant/bank were granted such an option was on 20.08.2010 via a circular of even date. This circular extended pension to employees who were in service before 29.09.1995 and could not opt for pension earlier.

4.3. The third time such an