Push Pension, Past Pretensions

The Editor The Economic Times Chat Room December 12, 2024 Push Pension, Past Pretensions* Please refer to the article "The Great Pension Mess" by T K Arun(ET, December 12). This is the first comprehensive article on the subject appearing in the mainstream media after major issues on pension started surfacing around 2003-4. Since the introduction of NPS Centre and state governments and organisations responsible for implementation of pension schemes have been playing hide and seek. The near absence of any organised voice from pensioners/retirees ensured that the grey area of retirement benefits became dark. The creation of PFRDA instead of the logical expansion and empowerment of EPFO messed up implementation of both Providedent Fund and Pension Schemes. The need of the hour is the recognition that pension/retirement benefits are part of real wages and the responsibility to pay them as part of wages, Provident Fund or deferred compensation as pension squarely rests on the employers, whether in government or in private sector. Once this is accepted in principle, everything else becomes matter of details which can be sorted out by approximate authorities. M G WARRIER Mumbai *Published in The Economic Times

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