Over 20,000 employees representing Andhra Pradesh Contributory Pension Scheme Employees’ Association (APCPSEA) from the 13 districts on Thursday took out a rally and later organised a meeting at Gymkhana grounds here seeking scrapping of new pension scheme and introduction of the statutory pension scheme.
Several speakers found fault with the Central and State governments and felt that the scheme was causing grave injustice to the retired employees.
“We opted for the scheme as many of us were unemployed and we are desperate to join a job. All those who joined the services after September 1, 2004 are in the contributory pension scheme,” said Srinivasa Viswanath, a leader from East Godavari.
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He said that diverting the pension money into share and oil markets would be detrimental as any fluctuation would prove costly. “There are around 1, 60,000 employees who are under the contributors scheme and in the country there are around 25 lakh employees,” he pointed out.
He demanded that the State government appoint an all-party committee and approach the Central Government for scrapping the new law.
He said pension was vital for retired employees as it would help them live a life of respect when spurned by their children.
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“It is our fundamental right,” he added.
Mr. Viswanath said the association would intensify its agitation in a phased manner if their demands were not met by the government.