The Federation which has called for a general strike on October 30, is holding a number of activities throughout the country to mobilise employees against the new contributory pension scheme.
Announcing this to media persons here on Wednesday Federation National General Secretary and former MP Sukomal Sen said the proposed contributory pension scheme will serve a death blow to employees and it was high time the entire working class opposed it. Sen who was here to attend a divisional-level conference of the All Karnataka State Government Employees Federation accused the UPA government of acting at the behest of World Bank and International Monetary Fund by moving towards the new pension scheme.
As per the new pension scheme an employee will have to contribute 10 per ent of his basic to the pension fund which will be managed by big corporate houses.
Tens of hundreds of crores of rupees going into the fund will be invested in the stock market by the fund managers through the Pension Fund Regulation and Development Authority.  The life term earnings of employees would be at the mercy of the high volatile stock market and there was no guarantee of any return to the employee, he said.
As per the plan of action government employees and teachers all over the country will organise a fortnight-long campaign from September 10 to 25 and on September19 the employees would serve a strike notice to governments by holding massive demonstrations and rallies. And on October 30 all employees will participate in the nationwide strike.