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Thursday, June 16, 2016

Pension


 15 Jun 16, 08:53 PM

G. Narayanaswamy: The detailed write-up by Sh C.N. Venugopalan makes a sad-reading & details how the bank pensioners have been cheated.

It can be seen that pension is only a deferred salary paid from the contributions made by the employees themselves. The popular concept of "pension" is an ex-gratia paid by the Employer needs to be dispelled. Especially when the employer is in a position to pay. With cost of living sky-rocketing, MPs do not hesitate to revise their pensions periodically. As at present, we can only rely on Courts to deliver justice. 

It is sad that TUs and Employees' organizations are not responding to these new challenges and establish that pension is deferred pay made by the contributions by employees themselves.