contributory pension scheme: Protesters demand scrapping of CPS | Hyderabad News

HYDERABAD: Thousands of employees adversely impacted by the Contributory Pension Scheme (CPS), held a dharna across locations in the state on Friday, demanding the government scrap the scheme.

The protesters who participated in the ‘mass casual leave’, organised under the aegis of the Telangana State CPS Employees Association (TSCPSEA) urged the government to revert to the old pension scheme.

“The scheme has proved to be faulty without any social security. More than 1,000 employees have retired till January 1, 2017, and majority of them are not getting any pension. The calculations have shown that they may get less than Rs 1,000 as pension per month. About 200 CPS employees have died while in service till January this year and have not even received a single rupee from the government,” said Sthithapragna G, state president, TSCPSEA.

A total of 1, 25, 572 employees are expected to be affected by the CPS. “If an employee who worked for about 30 years under old pension scheme retires, he gets about Rs 20,000 as pension every month, whereas if the same employee is under CPS, he will receive less than Rs 500 per month. This amount is even less than the amount received under Asara Pension scheme,” said E Raghunandan, one of the protesters.

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