AITUC

New Delhi, Jan 24 (UNI) All India Trade Union Congress and Hind Mazdoor Sabha have condemned Centre's decision to channelise pension funds to stock market saying it will jeopardise the security of poor workers' hard-earned savings.

Unanimous concerns expressed by all the central trade unions and government employees' organisations against the Pension Regulatory Authority Bill had been completely ignored by the government under pressure form World Bank and International Monetary Fund, a statement said here today.

In an unprecedented step, pension funds would be channelised into the stock market even before the Bill was approved by Parliament.

The move amounted to fraud on government employees, it added.

UNI