CITU against pensionery benefits cut under EPS '95

New Delhi, July 19: The Communist Party of India (CPI-M)-backed Centre of Indian Trade Unions (CITU) today said the notification issued by the Ministry of Labour arbitrarily amending Para 12 of the Employees' Pension Scheme (EPS) 1995 has resulted in curtailment of the pensionery benefits extended under the scheme.

''The move is all the more reprehensible as the Ministry has not consulted either the Central Board of Trustees (CBT) of the Employees Provident Fund or its sub-committee on pension implementation,'' CITU said in a statement.

The notification stipulates that the amendments would be deemed to have come into force from the date on which the EPS '95 had come into force in 1995, it added.

''The step is aimed at imposing the curtailment with retrospective effect, which would result in the existing pensioners also losing a substantial part of the pension benefits already availed by them.'' CITU has condemned the move which undermines the autonomous status of the EPF organisation, a body implementing the pension scheme.

''Government should initiate the process of review of the EPS '95 in consultation with the central trade unions, with a view to substantially improve its benefit package,'' CITU added.

UNI