Hope for PSU retirees


The government has approved the recommendation laid down by All India Non-pensioned cum Senior Citizens Retirees' Association and has asked PSU companies to implement it.

The recommendation - to create a corpus by contributing 1 per cent to 1.5 per cent of PBT (Profit Before Tax) to create a fund in order to take care of medical and any other emergency needs of retired executives and also those who are not adequately covered by the pension scheme - will be enforced with the 2nd Pay Revision Committee meant for PSU employees.

“We have written countless letters describing the plight of the people, who are retired and don't pension. We asked the government to set up social security for non-pension retirees’ of public sector companies. Thankfully, they approved our recommendation. I only wish that retired people know that they are now entitled to medical benefit from their company and they should demand that their company implements the recommendation,” said Ernest Abraham, convener cum general secretary of the association.

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