Amendment having retrospective operation divesting employee of benefit already granted to him under existing Rules, violative of Arts. 14 and 16 of the Constitution. Employees who had opted for Pension Scheme had vested/accrued rights and any amendment to contrary made with retrospective effect taking away vested right accrued to employee under existing Rules was impermissible. Further held, non-availability of financial resources cannot be justification to take away vested right accrued to employees and that too which was for their socio-economic security. Pension is not a bounty and it is the duty of appellant to make funds available to protect vested rights of employees accrued in their favour. Punjab State Coop.
[Agricultural Development Bank Ltd. v. Coop. Societies, (2022) 4 SCC 363]