New Delhi, Jan 16 :    New Delhi, Jan 16:  The government is considering the option of re-introducing a pension scheme either for all employees of public sector banks or at least for those who opt for the voluntary retirement packages (VRS)- something that will make the golden handshake offers more attractive. The move comes after the brief launch of a pension scheme in 1993 when 50 per cent of the existing employees opted for it. Prior to 1993, bankmen could only subscribe to the contributory provident fund (PF) scheme. Unions now want banks to launch the pension scheme again for the benefit of employees who could not opt for it the first time around. However, those who joined after 1993 automatically availed of the pension facility. There is a feeling in the finance ministry that the planned VRS offers in banks may not be attractive - and, hence, not very effective - unless employees who joined before 1993 and opted for the provident fund scheme are given the pension choice. Meanwhile, the ministry is looking at various VRS options. It had written to various bank chiefs in November and sought their views on the introduction of a package similar to the one offered by the department of public enterprises. A wide range of proposals from banks are now on the table. Some, like Indian Overseas Bank, say the package should be based on two months' salary for the number of years remaining in service. Others like Punjab and Sind Bank want the benefits to based on the number of years already put in by an employee. Then, there is another group which feels the package should be a happy blend of both. But, there are few issues to be sorted out regardless of which option is picked up. For instance, offering benefits on the basis of years already put in means the scheme will appeal mostly to employees at the higher end of the age-profile. Conversely, it is the younger people who would opt for a scheme that takes into account the remaining years on the job. Therefore, the ministry is veering around to the view that a combination of the two parameters - with a ceiling both ways - is a better proposition, sources said. The ministry also feels making the VRS package very attractive will cost banks too much and, as a flip side, may tempt even those employees whom the bank wants to retain. In the light of these problems, banks have suggested that they be given the sole discretion in deciding whether or not they should accept a VRS application. In the absence of that power, there is a possibility that banks will lose good people. Only, a clear-cut criteria on which such decisions are made, should be laid down. Banking chiefs have opposed bans on recruitment and promotions, and asked for powers to fill vacancies caused by VRS offers. They feel the new recruitments would have to be made largely in areas like information technology, computerisation, foreign exchange - all of which are specialised and skill-oriented. The various voluntary retirement packages have to be funded either from banks' own resources, or by taking loans from other banks or external agencies. It could also be done by issuing bonds, with or without government guarantees, to those who accept VRS, and offering them loans against these instruments. The government has, however, ruled out a budgetary support or a soft-loan option.