DA should be included in co-operative pension: Pensioners preparing for agitation

THIRUVANANTHAPURAM: There is anger over the non-inclusion of the dearness allowance announced by the state government annually in the pension benefits of cooperative institutions. The recommendations made by the government-appointed committee did not suggest the addition of DA. The pensioners are preparing for an agitation to get this.

The pension is Rs 17,500 for those with 30 years of service. 12 per cent of the salary is paid to the pension board. While there is a recommendation to increase the pension by three per cent, they say that only a two per cent increase will be received since one per cent is diverted to the administration of the board.

Pensioners point out that if the DA announced annually, similar to that of government employees, is also received along with the pension, the pension reform will be done properly. At present, only the employees' share is allocated for pension and pensioners are demanding that the government's share should also be included.

The committee headed by retired district judge M Rajendran Nair was formed in June 2023. Pension Board Secretary S Anjana was the convenor, pension board chairman R Thilakan, retired additional registrar KV Prasobhan and chartered accountant N Balasubramanian were the members. The recommendation was submitted this year.

10% of dividend should be paid for pension

• In addition to increasing the pension share of the employees by 3 per cent, the committee has also recommended that 10 per cent of the society's dividend should be transferred to the pension board. It is currently not provided.
• If the pension is not made part of the scheme within three months of the appointment, a fine of Rs 5,000 will have to be imposed. Health insurance should be introduced for employees and pensioners. The provision of voluntary retirement for employees should be included.