Financial Daily from THE HINDU group of publications Wednesday, Aug 11, 2004 |
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Shipping Industry & Economy - Pension Plans New pension schemes for port workers, seafarers in the offing P. Manoj
New Delhi , Aug. 10 NEW pension schemes are in the offing for major port workers and seafarers, according to the new maritime policy drafted by the Shipping Ministry. Efforts would be made to introduce a regular pension scheme for seafarers in consultation with the representative bodies of seafarers and ship-owners, which would not have any financial burden on the Central Government. "For this purpose, either a separate pension scheme will be formulated or the present Seamen Provident Fund Act Scheme under the Seamen Provident Fund Act will be amended to include pension/annuity in its mandate," says the policy paper. Besides, Section 150 of the Merchant Shipping Act will be amended to ensure that unnecessary litigation is avoided without jeopardising the rights of seamen. "This would address the present tendency to approach the courts for appointing a tribunal for workers disputes in shipping and seafaring," it stated. Pension for workers in the major ports sector would be on the lines of pension scheme prevailing in the Central Government. Moreover, productivity-linked reward scheme for major port workers would be calculated on the performance based on the productivity parameters of individual port trusts. The Ministry also plans to frame a policy on stevedoring wherein the system for employing workers by stevedores will be liberalised. These include rational manning norms and workers will be given incentives only on actual work done.
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