REMOVAL OF BJP GOVERNMENT FROM POWER CAN ONLY HALT THE WORSENING CRISIS
Sitaram Yechury
-
2023-10-05 12:10
Last Sunday, lakhs of central and state government employees converged in the capital New Delhi, demanding the restoration of the old pension scheme. The coverage of this massive rally was limited to describing it as an event, obscuring the reflection of a deeper economic malaise afflicting our country. According to the old pension scheme, an employee was entitled to receive 50 per cent of their last salary drawn as pension. This amount was also adjusted yearly to account for inflation. The new pension scheme, on the other hand, returns to retired employees an amount which is invariably not more than half of what they used to receive under the old pension scheme. The law mandates that all those who entered service after 2004 will only avail of the new pension scheme.