KSRTC to launch voluntary retirement scheme for employees above 50 years of age

THIRUVANANTHAPURAM: KSRTC is coming up with voluntary retirement scheme for employees. Those who are over 50 years of age and have completed 20 years of service can retire through this scheme.

A list of 7500 people has been prepared for the project. Rs 1100 crores will be required for this. The aim is to reduce the salary cost by 50 percent. The Finance Department had proposed to reduce the number of employees to 15,000. At present there are about twenty six thousand employees.

Meanwhile, the High Court directed that the arrears incurred by KSRTC in the contributory pension scheme should be cleared within six months. The arrears since 2014 is 251 crores. The High Court held that the diversion of the amount payable to the National Pension Scheme is unacceptable. The direction came in a petition filed by the employees. The amount deducted from the salary of 9000 employees was diverted. KSRTC explained that it was not able to pay the amount due to financial crisis, which was dismissied by the court.