Association demands revision of pension

Mysuru: “Just as the Government revises the pay-scale of its employees, the Union Government should revise the monthly  pension of pensioners from time to time,” said All India Insurance Pensioners Association General Secretary Kunhi Krishnan.

He was speaking at the 9th Congress of All India Insurance Pensioners Association at Ganabharathi auditorium in Kuvempunagar here on Sunday.

Pointing out that the prices of essential commodities have been steadily rising and the pensioners have been left to cope with rising inflation, he said it is unfortunate that pension has not been increased and urged the Union Government to take measures for hiking pension.

“Fifty-six percent of the elderly population in the country are not covered by any pension. A mere 1 percent hike in taxes will be enough for providing pension to every eligible citizen of the country. The Government should introduce a General Pension to all those who have crossed 60 years of age. At present, the General Pensioners are getting a monthly pension of Rs.500 and EPF Pensioners Rs.3,500, which should be hiked to Rs.10,000,” he noted.

Maintaining that the Union Government has planned to provide pension out of the Dividend  earned by investing 50 percent of reserved Pension Money in share markets, Krishnan said, however, it is to be noted that the share markets are collapsing these days, amounting to losses of hundreds of crores of rupees. If the share market investment continues, then there is always the risk of pension money shrinking. If this indeed happens, one has to wonder about the future of pensioners, he argued.

Former Vice-Chancellor Prof.Sabiha Bhumigowda, in her address, maintained that the ruling Governments does not think about the life of unorganised workers. It is disappointing that the Governments do not extend financial support to unorganised workers in their old age. The All India Insurance Pensioners Association should carry out a movement in this regard, she said. She also called upon the Association to engage women in all its activities.

The logo of the 9th Congress was released on the occasion.

Leaders N.P. Umapathi, S. Sridhar, Jagadish, Balajirao, Balakrishna, Mahesh, Mahadeviah, Bhaskar Somayaji, Chandana, C.R. Krishnamurthy, Subramanya Rao, Madesh, Paramesh, Vijay,  Mahendra, Vinay and others were present.