KSRTC to fix maximum pension at Rs 25,000

Thiruvananthapuram: The state government has decided to fix maximum pension for KSRTC staff at Rs 25,000.

The government will issue the order after receiving a loan of Rs 3000 crore from bank consortium. According to the authority, the curtailed amount will be refunded after improving the financial stability of KSRTC.

The initiative to fix pension amount was taken as a part of restructuring the financial sector. Though the decision was taken by higher officials, the government is planning to enforce it without any protest from pensioners.

It has been reported that 75 percent pensioners receive pension below Rs 25,000. Now, only the officials retired from higher positions are getting higher amount under the pension scheme.

At present, the KSRTC needs Rs 60 crore to distribute pension. With the revision, the corporation will require only Rs 55 crore for the purpose. Of this, the government will grant KSRTC Rs 27.5 crore.

Ten percent of daily wage is being transferred to the pension fund as per High Court order and an average amount of Rs 17 crore can be collected from it. The authority should find Rs 10.5 crore from other resources to distribute pension. The government has assured that the government fund for pension will be raised after fixing the pension. Pension for KSRTC retired staff is completely pending since two months.

KSRTC is planning to seek support of the pensioners to fix pension amount as a part of the plan to avail loan from bank consortium.