Is My Friend Eligible for a Pension After 20 Years at a Nationalized Bank?

I have an inquiry about eligibility for receiving a pension. My friend is working in a nationalized bank. He joined the bank on October 7, 1995, and was on loss of pay for 5 years (sanctioned leaves). He wants to quit the bank in October 2015. Will he be eligible for any pension or not? Please advise.

Thanks,

Ms. Maninder

Dear Maninder, Being an educated person and having the ability to pass the recruitment process successfully, why doesn't your friend make an effort to go through the pension rules of his bank? The same question applies to you as well. If you have any doubts regarding the correct interpretation of any complicated rule or a grey concept, feel free to raise such matters in this forum for the sake of clarity and guidance from others. Otherwise, it may give the impression that such questions are merely for the sake of questioning or indicative of a mindset expecting spoon-feeding. I apologize if my previous response offended you.

It will be difficult to clarify your question as the pension payout depends on the type of scheme your bank has, whether it is contributory or the National Pension Scheme, which was recently introduced. If complete details are available, including the name of the bank where your friend is working, it may be possible to answer your query.