Left affiliated service unions differ on procedures, latest news, kerala news, statutory pension, contributory pension

Thiruvananthapuram: Left-affiliated service unions in Kerala differ on the grounds to be followed while shifting from contributory pension to statutory pension.

Although all camps agree to adopt statutory pensions instead of a contributory pension scheme, there are debates on how to do it.

The CPM-affiliated NGO union cited that the replacement of Rajsathan pension with contributory pension led to the problem related to maintenance of accumulated corpus of pensioners in the National Pension System (NPS). Because the Pension Fund Regulatory and Development Authority (PFRDA) stated that there is no refund or re-deposit of funds to the state government, already deposited in NPS (employee+government contribution). According to the NGO union, PFRDA rules should be removed to recover the fund. He has sought the intervention of the state government for this, but has indicated that the union government should take the responsibility of replacing the contributory pension scheme with the statutory pension.

On the other hand, the Joint Council attached to the CPI believes that there is no legal obstacle. PFRDA may withdraw refund request or refund of deposit. Because it is a body similar to the Insurance Regulatory and Development Authority (IRDA), the Joint Council said. He also condemned the state government for not heeding the report on the contributory pension.

Both groups have decided to campaign to put their cases in the spotlight.

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