People's Democracy

(Weekly Organ of the Communist Party of India (Marxist)


No. 49

December 04, 2011

Stop Attack on Pensioners


THE All India BSNL-DOT Pensioners Association has expressed its strong protest to the Pension Fund Regulatory and Development Authority (PFRDA) Bill presented in the parliament. It said the bill is intended to take away the hard-earned money of the employees for utilisation in the share market by the fund managers and big corporates for their profit. The association opined that the said bill is not at all intended to safeguard the interests of the workers who are contributing to the pension fund.


This becomes very clear from the way the central cabinet has rejected the recommendations of the parliamentary standing committee on finance. The standing committee recommended a fixed cap on the FDI, an assured return and facility of easy withdrawal by the employees. All of these three recommendations, the association noted, have been rejected by the cabinet on flimsy grounds.


The association also informed that employees and pensioners of the BSNL would be attending in large numbers the Parliament March on November 25 against the anti-worker PFRDA Bill.