KOCHI: KSRTC introduces a new formula in the High court to distribute the benefits of retired employees. The employees can be divided into three groups to distribute the benefits. They will be given Rs 1 lakh each as compensation. Rs 10 crore is needed for this. The KSRTC management report also states that more amount cannot be arranged within the next 45 days.

The three groups are those who retired between January to March 31, 2022, those who retired between April 30 and June 30, 2022, and those who retired between July 31 and December 31, 2022. The benefits will be provided in stages.

The High Court had earlier asked the KSRTC whether it can immediately pay full pension benefits to 174 KSRTC employees who retired before March 31, 2022. Justice Devan Ramachandran, who inquired whether the half pension benefits of the retirees can be paid from April 1 to June 30, made it clear that a decision would be taken on the others later. The High Court sought an explanation in the review petition filed by KSRTC against the order that pension benefits should be distributed within four months.

KSRTC had informed in an affidavit that since January 2001, 1001 employees have retired but only 23 employees have been given pension benefits. The review petition was filed because if the order to pay pension benefits within three months to 49 persons who approached the court is followed, then the priority would not be maintained. KSRTC had informed the High court that Rs 40-50 crore was required to provide pension benefits to 978 employees.