‘It has several loopholes and fails to address some of our major demands’.
Members of the Karnataka State NPS Employees’ Association has demanded scrapping of the new pension scheme (NPS) as it has failed to address several issues.
They held a protest march from Kadapa Maidhan, which passed through the main streets of the city, before reaching the zilla panchayat guest house. Here, they held a blood donation camp and later staged a sit-in protest in front of the Deputy Commissioner’s office demanding that the government revert to the old scheme.
Addressing the protesters, association State joint secretary Raju Malwad said the government introduced NPS to employees who have joined service after April 1, 2004. Employees who joined earlier are entitled for defined pension scheme (DPS). In comparison to DPS, the NPS has several loopholes and has failed to address some of the major demands of the employees.
The DPS was brought into force to provide social security to employees after their retirement so that they and their family members can lead a happy life. But, the NPS has no mention about any such welfare as the pension stops on the day the employee dies, he said. Under the NPS, the government deducts 10% salary of the employee and contributes its share of 10% to the deducted amount and invests the money in share market to get monetary benefits. However, there is no legislation on where the money is being invested.
Later, they submitted a memorandum at the Deputy Commissioner’s office, addressed to the State government and the Centre.
Terming the NPS as “unscientific”, the association members in Raichur also demanded that the State government continue with the old scheme. The protesters donated blood at Spandana Bhavana after arriving from B.R. Ambedkar circle where they had gathered for the protest.
Members of the association held a blood donation camp and took out a protest march. The employees said they would never give up their fight to get back the old pension scheme. In the blood donation camp held the on Kannada Sahitya Parishat premises, around 150 employees donated blood. Later, they took out a march to the Deputy Commissioner’s office and submitted a memorandum.