Power Board employees oppose move to form pension trust

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Shimla, Oct 5 (UNI) Himachal Pradesh State Electricity Board Employees (HPSEB) today opposed the state Power Board's proposed move to disown the responsibilites of pension payment to its employees and pensioners by forming pension fund trust.

In a press statement issued here H P Electricity Board Employees Union, General Secretary, Deep Chand Bhardwaj said it would amount to betraying the employees and pensioners of State Power Board, who have helped build assets worth more than Rs 3800 crore for this organisation.

He said the Board had been making profit for five consecutive years because of the efforts of its workforce.

He said the pensioners of the board were drawing pension from the HPSEB funds so far but now the Pension Fund Trust is being created to release the pensionary benefits in accordance to Pension Rules, 1972.

The state government has created a fund of Rs 40 crore to pay pensions for about 11000 HPSEB employees'pensions, which he alleged ''was a meagre amount''.

Stressing that more financial provision was needed for the fund trust, he demanded that the government should first hold deliberations with the employees to settle the issue.

He said it was the liability of the state power board to create pension fund 'reserve of Rs 1000 crore for the benifit of its about 33000 employees and pensioners. The annual liabilities for the said pension fund would be Rs 200 crore per annum in the coming years, he added.

UNI XC JN RSA HT1637

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