Excelsior Correspondent
Srinagar Feb 16: The Doctors Association Kashmir (DAK) today sought the restoration of the old pension scheme for the Government employees of Jammu and Kashmir (J&K).
The President of the Doctors Association of Kashmir (DAK), Nissar Ul Hassan, said that the revival of the old pension system would ensure the social and financial security of employees. According to him, under the old pension scheme, an employee receives 50% of his or her last drawn salary as a monthly pension, plus dearness allowance as declared by the government.”After the demise of the retired employee, the nominee gets 50% of the total amount drawn by the retired employee as a family pension,” he said.
The DAK President said the new pension scheme does not provide the guarantee of a pension and there is no provision for family pension in the new system. “Under the new scheme, employees contribute 10% of their monthly salary, which the government matches and invests in equity shares,” he explained, adding that the new scheme is market linked and thus uncertain.
He claims that employees spend their productive years of life in government service in the hope of receiving a guaranteed pension that will provide them with financial independence in old age when they are unable to work.
“The employees put in their blood and sweat during service to cause good governance, and the government is duty-bound to provide them with a sense of security post-retirement,” he said.
Pertinently, government employees in J&K recruited on or after January 1, 2010, are not eligible for the old pension scheme and come under the new pension scheme.
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