Letters: Resolve pension issues | Business Standard Letters

Letters: Resolve pension issues | Business Standard Letters

My online comments:
M G Warrier
  • "Copied below is my response on payment of pension to retirees published in The Hindu Business Line sometime back: "Tort liability This refers to ‘Centre’s delay in approving pension updation scheme irks RBI retirees’ by Vinson Kurian (Business Line, October 8,2015). Although all financial transactions have a cost, if there is delay in completion in the case of payment of pension, the tort liability on the establishment stands out. This is because, if the beneficiary dies before receiving the benefit, the purpose of paying pension which is meant for the sustenance of the individual post-retirement, is lost. Every year the pension fund corpus is augmented taking into account the additional provisions needed on account of periodic revisions. The institution transfers huge surpluses to the government. The earlier revisions till 1997 are valid. The demand of the present retirees is genuine." 


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