7 Dec 15, 10:56 PM
B Ganga Raju: A very interesting discussion came up about Right to property in relation to Pensions.
In 1980s there was this notion of Bonus being property etc. But parliament did not think twice before annulling our right to Bonus.
Again property right implies whether someone's property can be acquired without any compensation. Then there are 2 kinds of property. Your shirt is your property and so also is your modest dwelling. But then some industrialists monopolise production and distribution and dictate the price at which their product is to be sold. If majority of population goes without any clothing because of such " Right to property " of the industrialist, the state can certainly place curbs on the right to property of that greedy businessman. Now the reverse is happening.
The right to property of looters of country's wealth is respected and not touched, while the government is all for curbs on wages, bonuses, pensionary benefits, interest on provident fund etc etc We feel helpless because we forget about economics at voting time and instead get aroused by feelings of religion, caste etc.
All this is known to all of us, But the present issue I think is not about property right. This is about interpretation of relevant rule in Pension Regulation which said that in all matters not specifically recorded there the rules applicable to Central Government Staff will come into operation. So if Central Govt. employees get revision of pension alongwith every Pay Revision, LIC employees also deserve the same. LIC being "state" and LIC regulations having the force of law, updation of pension is our right. However I feel our problem may be dragged even to the highest bench of the Apex Court. And those who shout for us are in small number in Parliament.
Now that the wage revision due from August 2012 is over, can an attempt be made by both pensioners' organisations and in-service employees' unions to revisit this issue?