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Home Business & Corporates

Ex-coalmen ask CMPFO, CIL to contribute to pension fund

Lagatar News by Lagatar News
November 16, 2022
in Business & Corporates
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SUBHASH MISHRA

 

Dhanbad, Nov 16: The Coal Pensioners Association has sent a new proposal to the Coal Mines Provident Fund Organization (CMPFO), Coal India Limited (CIL) and the union ministry of coal for bailing out the 1.26 lakhs beleaguered retired coal men who are suffering due to their meagre pensions.

Association president Ramanuj Prasad in his memorandum to CMPFO, CIL management has requested them to revise the pension of these retired employees and fix the pension at a minimum of Rs 10,000 which is within the capacity of the management so that the employees who dedicated their lives in the interest of the country could lead their remaining life with honour.

“Over 1.26 lakh retired coalmen are drawing a pension Rs 49 to below Rs 1000 per month only. If CMPFO and CIL contribute merely Rs 100 crores annually in their fund, all of them would get Rs 1000 as pension per month,” said Prasad.

The association has pointed out that the retired coalmen would lead a normal life if they are paid Rs 10,000 pension per month that is not an uphill task as it is possible merely by contributing Rs 1361 crore annually in the pension fund.

“CIL earns a profit of over Rs 10,000 crores annually. If it contributes merely Rs 1361 crores in the pension fund, the retired coalmen can lead a life (with Rs 10,000) without begging,” said Ramanuj Prasad.

Moreover, the Coal Pensioners Association has also suggested that If CMPFO contributes merely Rs 600 crores in PF, the retired employees would get a Rs 5,000 pension per month. CMPFO has a deposit of over Rs 3000 crores in its fund and it gets Rs 4.5 crores annually as establishment cost from a 3% contribution of employees.

The Association has also urged the ministry of coal to consider the plight of retired employees’ pensions as the Government of India contributes more than that to BPL and widow pension schemes.

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