M A I L B A G | Tuesday, January 12, 1999 |
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Non-pensionary retirees In the changing social structure, high cost of living and environment of consumerism, a common person remains under stress and is an easy target of health hazards. Not less than 90 per cent of the Indian population is feeling the pinch of high inflation rate and large amount of currency in circulation. To partly compensate the high cost of living, salaries of all categories of employees have been enhanced considerably. Dearness allowance goes on increasing regularly with the rise of price index. The maximum salary drawn by a high executive about 15 years earlier is now starting salary of an employee at the lowest rank. The pensioners are enjoying the fruits of enhanced pensions, which too increase regularly with rise in the price index. It is a fact that some pensioners are getting pensions, three to four times the salary drawn by them at the time of retirement. It is a welcome situation. In the present scenario one category of employees whose service conditions did not afford pensionary benefits to them have been very adversely affected. Some 10-15 years earlier, the salaries were low, contributory provident fund rates were low, the retiree after 30-35 years service could hardly get a few thousand rupees of their provident fund contribution, including the employees share and the interest accrued. Not many retirees could keep that money in bank or post-office to earn interest for managing their livelihood. They had to incur expenditure on building houses or marrying their children off and meeting medical requirements and other commitments. The bank interest rates are showing a downward trend, resulting in reduced returns for the employees, even if they were wise enough and could arrange to deposit some money out of their provident fund earnings in a bank. Some of the retirees are not being looked after by their children because of the cracking of the joint family system. Citizens belonging to this category are the hardest hit and are scarcely looked after by the present system. There is nobody to watch their interests and console them. Nor are they organised to exert pressure because they are less in number. They are too old to take initiative and fend for themselves. May the government pay heed to their plight and evolve a scheme to partly undo the injustice being perpetrated on them. A proposal on the following lines my be considered by the government and a formula evolved to ameliorate the lot of non-pensionary retirees. Retirees from any private recognised institution should be allowed a flat rate of pension in a slab system determined by the time of retirement, emoluments drawn by the individual, pension now being drawn by an official of the same rank and status and other relevant factors. The enlightened personalities in the society should take up the issue with the government and pursue the case of those who themselves are unable to do that. |
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