New Pension Scheme - Latest News Update, Information, Photos & Videos on New Pension Scheme at Lokmat Times

Railway employees staged a relay hunger strike at Chhatrapati Shivaji Maharaj Terminus (CSMT), demanding the reinstatement of the pension scheme under the Central Civil Services (Pension) Rules 1972 and the abolition of the New Pension Scheme (NPS).Central Railway Mazdoor Union(CSRM) organised the relay hunger strike on 8 January and is scheduled to continue until January 11 at CSMT, Mumbai. Similar strikes were also carried out at Pune, Bhusawal, Mysore, and other locations.Pravin Bajpayee, the General Secretary of CSRM, who was present at the strike, emphasized that the demand is not for charity but rather for what rightfully belongs to the railway employees. Bajpayee questioned the disparity in applying for the Old Pension Scheme (OPS). He said, "OPS is still applicable to the Army, while denying it to railway workers who work with the same discipline and perseverance throughout the year, regardless of the season." Bajpayee clarified that the goal is a secure old age and not driven by political motives.The Central government introduced the NPS on January 1, 2004, to replace the pension under CCS (Pension) Rules 1972 for all Central government employees, aiming to ease the financial burden of the government in managing the pensions. However, the NPS did not resonate well with individuals appointed after January 2004, especially upon their retirement. Unlike the OPS, the NPS is a market-linked pension scheme with market gains added to the corpus, providing tax benefits for contributions. It involves market risks, unlike the guaranteed OPS, where the pension amount is calculated based on the last drawn salary and dearness allowance or their average.Bajpayee added, "Pension is a social security for railway workers who served almost 35-40 years. With around 7 lakh workers under NPS, the demand is to follow the 1982 court decision and constitutionally restore their rights. However, the government has yet to make a decision, leaving the issue unresolved, especially as elections are approaching."CSRM, along with the All India Railwaymen’s Federation (AIRF), has consistently protested against NPS since 2004. The ongoing hunger strike is part of a series of protests aimed at pressuring the government to scrap NPS and reinstate OPS for all employees appointed on or after January 2004. In addition to pension concerns, CRMS also raised other issues related to poor working conditions, such as inadequately equipped running rooms, overworked employees, and unfilled vacancies despite new infrastructure and trains being introduced. RP Bhatnagar, President of CRMS, highlighted the need for hiring and addressing these issues for the well-being of railway employees. He said, " The new infrastructure is put in place, and new trains are added, but what about manpower, where is the hiring? The hiring of 2019, is joining now. Besides, a motorman operating a train for 8 hours straight, where should he rest? With no ample rest, accidents are inevitable. Locomotive pilots are required to put all concentration on track, is it not an easy job to do."

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Narendra Modi

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

New Pension SchemeFOLLOW

New pension scheme, Latest News

Maharashtra :Railway Workers’ Hunger Strike in Mumbai, Demanding Pension Scheme Revamp

Railway employees staged a relay hunger strike at Chhatrapati Shivaji Maharaj Terminus (CSMT), demanding the reinstatement of the pension ... ...