THIRUVANANTHAPURAM: The government has assigned a committee headed by the RIAB chairman to study prospects of increasing the pension age of KSEB employees from 56. Last year, the government had to double back after protests loomed on the decision to increase the pension age to 60 for employees in the public sector. KSEB recently saw reforms that included surplus pensions and generous salaries meted out to employees. However, the department is currently fighting debt and it leaves no option for the government but to shipshape it by bringing tactful reforms in place.

In the next three years, more than 4000 people are retiring from KSEB. The pension arrears that was Rs 12,419 crore in 2013 turned to Rs 29, 657 crore in 2023. The Board has asked for government intervention in the issue or else fears stoppage of pension distribution by 2026.

When the board was turned into a company in 2013, the deal was to allow Rs 12, 419 crores to complete the pension for then-retired and future retirees. The board and the government's master trust found ways to bring money and the electricity tariff collected from consumers was kept by the board on agreement. However, the deal has validity only up to 2023. If not extended, the whole system of paying salaries will go into shambles.

The committee will also take a look into the scope of increasing the pension age within KSRTC and the water authority. Meanwhile, CIG found the reforms planned to increase salary in KSEB were without the government's assent. The CIG also asked the government to start punitive action against the officials who spearheaded the reforms which have now pushed the whole board into the abyss of debt.