Financial Daily from THE HINDU group of publications
Tuesday, Jul 13, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jul 13, 2004 |
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Money & Banking
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Pension Plans Increase in pension under EPFS sought G. Gurumurthy
Coimbatore , July 12 THE Tamil Nadu EPF Members and Pensioners HMS Welfare Association, an affiliate of the Hind Mazdoor Sabha, has demanded an upward revision in the monthly pension for members of the employees pension fund scheme (EPFS). The association, in a statement, maintained that no interim increase in the pension amount had been declared after 2001 and even whatever hike was given previously had been inadequate to mitigate the pensioners' difficulties. In this background, it was necessary that the Central EPF Trust meeting in Delhi on Tuesday announce a considerable increase in the pension amount, it added. It pleaded that the monthly pension under the EPFS be linked to the cost-of-living index as available for the pension scheme of government employees. As for the employees' provident fund, the interest rate for PF contributors should be restored to the original 12 per cent, and under no circumstance should the Centre succumb to pressures to bring down the rate from the present 9 per cent.
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