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Wednesday, December 09, 2015

Right to pension, Right to property & Right to human rights


Referring to Mr Sudhakaran's post, I hasten to clarify that I have connected the earlier ruling of the Supreme Court that Right to Pension is like right to property with the latest ruling in a land owners' compensation matter by the SC that Right to property is part of human rights.

I do not say that it is not applicable to others.But  I am not aware whether in case of private sector employees, there is any SC ruling making it mandatory for employers to grant pension to employees. To my knowledge as a general practice private sector employers do not pay pension but many employers facilitate payment of pension through group superannuation scheme with LIC ( now perhaps through other life insurers as well). 

I feel that legally there is no obligation for private sector employers to grant pension. In case of Central Government the scheme has been notified from 1972 to its employees and extended to employees of LIC,GIC companies and Public Sector banks (besides RBI) in the nineties. CLICK HERE TO READ SC JUDGMENT DT 1-12-2015

Kind regards.
C H Mahadevan