Pension scheme: TU asks govt to remove anomalies

Trade union Hind Mazdoor Sabha has urged the government to expeditiously remove the anomalies in the Employees Pension Scheme as they are causing serious discontent and industrial unrest among the workers.

"The pension amount is too meagre. Even in some cases it is less than Rs 200 per month. There is serious discontent and industrial unrest among the workers, " HMS secretary A D Nagpal said in a letter to the labour minister M Mallikarjun Kharge.

Asking the government to address the anomalies in the scheme, Nagpal demanded that pension amount should be reasonably increased and the benefits which were withdrawn should be restored.

Workers are not happy with the scheme introduced by the then Congress government in 1995 for the Employees' Provident Fund Organisation subscribers, he said, adding the scheme was amended twice last year leading to withdrawal of some key benefits like commutation of pension.

"The scheme has not declared any relief after the year 2000 on the pretext of deficit in Pension Fund which was estimated at Rs 25,000 crore (Rs 250 billion) last year, " Nagpal told PTI.

"The government has already amended Table 'B' and 'D' which elaborates rate of returns keeping those between 7 to 8 per cent which was earlier hovering around 12 per cent", he said.