1. This batch of Writ Appeals is preferred by Insurance Companies, aggrieved by the common order passed by the learned single Judge, allowing W.P.Nos.19431 to 19433 and 21110 of 2015.

2. First respondent/employees, who have retired voluntarily from service of the appellant insurance companies, have instituted the said writ petitions. Union of India is the second respondent; while National Insurance Special Voluntary Retired/Retired Employees' Association is the third respondent herein.

3. The common question that has been raised for consideration in the Writ Petitions centres around the entitlement of additional retirement benefits, in terms of the General Insurance Employees Special Voluntary Retirement Scheme, 2004.

4. By virtue of the powers available under Section 17-A of the General Insurance Business (Nationalistaion) Act,1972, the Central Government framed a scheme, called, The General Insurance (Employees) Pension Scheme 1995, henceforth referred to as ?the Pension Scheme,1995?.

5. Though the Pension Scheme 1995 was notified in the Gazette of India, Extraordinary, dated 28.06.1995, the same has been brought into force from 01.11.1993. The expression ''company'' has been defined in paragraph 2 (f), as meaning National Insurance Company Limited, The New India Insurance Company Limited, The Oriental Insurance Company Limited, and United India Insurance Company Limited, as the case may be. The expression ''pension'' is defined in paragraph 2 (q), as including the basic pension and the additional pension, referred to in Chapter-VI of the said Scheme. ''Qualifying Service'' has been defined in paragraph 2 (s), as service rendered while on duty or otherwise, which shall be taken into account for the purpose of pension under the Scheme. The expression ''pensioner'', as defined in paragraph 2 (r), means, an employee eligible for pension under the said Scheme. The expression ''retirement'' has been defined in the following terms in paragraph 2 (t) of the Scheme :

“(i) the retirement in accordance with the provisions contained in paragraph 12 of General Insurance (Rationalisation and Revision of Pay Scales and other Conditions of Service of Supervisory, Clerical and Subordinate Staff) Scheme,1974, notified under the notification of Government of India, in the Ministry of Finance (Department of Revenue and Insurance) number S.O.326 (E) dated the 27th May, 1974;

(ii) the retirement in accordance with the provisions contained in paragraph 4 of the General Insurance (Termination, Superannuation and Retirement of Officers and Development Staff) Scheme,1976, notified under notification of Government of India, in the Ministry of Finance (Department of Economic Affairs) number S.O.627 (E), dated 21st September, 1976;

(iii) Voluntary retirement in accordance with the provisions contained in paragraph 30 of this scheme.”

6. Paragraph 3 of the Scheme deals with its applicability. It was rendered applicable to those employees:

(1) (a) who were in service on or before the first day of January,1986, but retired before the first day of November,1993; (b) who exercise option in writing within one hundred and twenty days from the notified date to become member of the Fund; (c) refund within sixty days after the expiry of the said period of one hundred and twenty days specified in clause (b) the entire amount of the contribution made by the Corporation or the Company, as the case may be, to Provident Fund, including interest accrued thereon together with a further simple interest at the rate of six percent per annum on that amount from the date of settlement of the Provident Fund amount till the date of refund; (d) refund within sixty days after the expiry of 120 days the entire amount of non-refundable withdrawal, if any, made from the Corporation's contribution or the Company's contribution to the Provident Fund account and the interest accrued thereon prior to the date of final settlement of the Provident Fund, together with interest at the ra