The Supreme Court Monday announced its reserved verdict in National Bank of Pakistan’s (NBP) pensioners case and directed the bank administration to enhance payment of pension from 33 percent to 70 percent. A three-member bench of the court headed by Justice Ejaz Afzal Khan and comprising Justice Maqbool Baqar and Justice Ijaz Ul Ahsan has reserved the decision which was announced in the open court by head of the bench.
The court dismissed all applications filed by bank administration against decisions of different high courts and accepted appeals of pensioners regarding annual increase in the pension. It is pertinent to mention that the bank administration had reduced the payment of pension from 70 percent to 33 percent in violation of Rules in 1999. Around 6,000 bank employees got affected due to decision and the bank administration also stooped annual increase in pension. Around 10,000 retired employees got affected due to stoppage of annual increase in the pension.—APP