Wednesday, August 1, 2012

EPF Pension

This problem has been plaguing Indian Industrial sector retirees in
private sector (perhaps public sector too) for many decades. Recently
AISCCON has requested Bharat Pensioners Samaj to take up this issue
with appropriate authorities. Nice to see Sashi Tharoor supporting us.

Shashi Tharoor, Lok Sabha member from Thiruvananthapuram, has urged
the Centre to enhance the pension under the Employees Provident Fund
(EPF) scheme to at least Rs 5,000.

The existing minimum pension of the scheme was "totally inadequate"
for over 3.5 million under the scheme who had spent their working life
in the most productive sectors of the national economy, he said in a
statement today.

"There are cases of pensioners with 40 years' service receiving Rs 550
a month. The basic pension should be raised to at least Rs 5,000 a
month," the former Union minister said.

He also wanted the Dearness Relief linkage to be provided on the
pension as granted to all other pensioners. Otherwise, the scheme
would not serve any purpose since the increase in cost of living would
not be accounted for, he said.

The government should initiate immediate measures to increase the
corpus fund of the scheme, he said and suggested that more
establishments in all sectors including the IT sector be brought under
the ambit of the scheme.

Tharoor wanted a thorough review of the scheme to be undertaken to
update various provisions and benefits under it.

No comments:

Post a Comment