National Insurance Special Voluntary ... vs United India Insurance Co. Ltd.

The Supreme Court ruled that employees who retired under the SVRS-2004 Scheme are not entitled to the additional notional benefit of five years' service under the 1995 Pension Scheme, as per the explicit terms of the SVRS-2004 Scheme. The Court emphasized that the SVRS-2004 Scheme clearly states that the additional benefit from the 1995 Scheme is not applicable for pension calculation. Thus, the appellants' claim for benefits under the 1995 Scheme was denied, affirming the insurance companies' interpretation of the schemes.