United Bank Of India An Ors. vs United Bank Of India Retirees Welfare ...

The Supreme Court upheld the High Court's decision that there should be no distinction in dearness relief rates for pre and post November 2002 retirees under the Union Bank of India (Employees') Pension Regulations, 1995. The Court emphasized that the Memorandum of Settlement dated 29.10.1993 mandated uniform dearness relief based on the Reserve Bank of India formula, thus reinforcing the principle of equality among pensioners. The Court affirmed the High Court's ruling, ordering the appellant to pay dearness relief to all pensioners at the same rate, thereby ensuring compliance with the agreed terms of the pension scheme.