What is the position of NPA pensioners and their pension scheme after the privatization of NPA?
The ongoing privatization program has brought the problem of inefficient pension administration and un-funded pension liabilities in the public enterprises to national limelight. Until recently, when the Bureau took special interest in the matter, the collection of data in respect of pension liability had not been systematically perused. In–house pension schemes and the retirement benefits as provided in the collective agreements look good only on paper, in reality, the pension system in the public enterprises is in a state of deep crisis. In some cases the retired workers have not been able to collect their pension benefits nor can the incumbent workers foresee their pension entailments being paid when they become eligible to collect. The Bureau strongly believes and has been able to get government to accept, that the end-of-service liability must be assumed by the government and paid either out of privatization proceeds or general revenue, or from funds to be secured from bilateral o
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- What is the position of NPA pensioners and their pension scheme after the privatization of NPA?
