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.
Government’s decision on the recommendations of the Seventh Central Pay
Commission - Revision of pension of pre-2016 pensioners/family pensioners, etc
: SAMPLE CALCULATIONS i)REVISED PENSION OF PENSIONERS WHO
RETIRED BETWEEN 1-1-1986 & 31-12-1995 (4TH CPC
1: work out Notional pay as on 1.1.1996 = LPD
at the time of retirement + DA as on 1-1- 1996 was 148 % up
to Rs.3500 BP and 111% for BP Rs.3501 to 6000 with minimum of Rs.5180 + IR 1 Rs
100/- + IR II =10% of BP (min Rs100) + 40% fitment benefit sum total be placed
in appropriate stage in the 5th CPC scale corresponding to the scale
from which retired e.g
4th CPC scale =2000-60-2300-75-3200 LPD 2300 Notional pay = 2300 +3404
+100 +230 + 920 =6954 placing it at appropriate level of Corresponding 5th
CPC scale = 6500-200-10500 Notional pay as on 1.1.96 comes to Rs 7100 / Step
2: Work out Notional pay in 6th CPC PB 2 Rs 9300-34800 GP 4200…
Due to constant pursuance by S C Maheshwari Secy Genl BPS and by S P Gupta Associate editor BPS with DOPPW & DoE. Revised Concordance tables have been issued for those retired frm 5th CPC scale of 6500 - 10500.Earlier BPS had succeeded in getting them GP 4600/ instead of 4200/