The Hindu Business Line : Pension proposal

The proposal of some trustees of Employees Provident Fund Organisation (EPFO) to do away with minimum age for pension is unwelcome and unwarranted for the following reasons:

The very objective of the pension scheme is to help old people have a happy retired life. Any reduction in the pensionable age below 50 will run against the concept and objective of the pension scheme.

It will cost the Pension Fund unbearable economic burden. When many economic experts have warned that the Pension Fund is a tickling "time-bomb" which can explode any time, the plan to scrap the minimum pensionable age is irrational and unscientific.

Since most of the workers in the private sector are peripatetic, scraping of minimum age will result in a situation where a person can get a maximum of four monthly pensions by working in four different establishments, 10 years in each.

C. Ramesh

Keeramangalam (TN)

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