Retired RBI staffers protest for pension

Members of Reserve Bank's Serving and Retired Employees Association held a dharna in front of the Reserve Bank of India main entrance in the city on Tuesday demanding revision of pension for 26,720 re

Published: 11th April 2018 02:17 AM  |   Last Updated: 11th April 2018 06:21 AM   |  A+A-

By Express News Service

BENGALURU: Members of Reserve Bank's Serving and Retired Employees Association held a dharna in front of the Reserve Bank of India main entrance in the city on Tuesday demanding revision of pension for 26,720 retired RBI personnel.

The protesters also spoke against what they termed an illegal and unwarranted interference by the Ministry of Finance in the administrative affairs of the RBI, which is an autonomous institution.

According to K V Padmanabhan, association secretary, pension of 26,720 RBI retirees was not revised during the last three wage settlements for serving employees in 2002, 2007 and 2012.

"Such revision will not result in any burden to the government exchequer. The entire expenditure will be met by the RBI from its own pension fund created out of the contributions surrendered by the employees when they opted for the pension scheme in 1990," he said. As a result, the basic pension of senior retirees remained stagnant in the last 16 years.

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