THE PFRDA BILL HAS BEEN PASSED IN THE LOK SABHA AMIDST STRONG PROTEST FROM THE LEFT PARTIES by Senthil Kumar ---------------------------------------------------------------------------------------------- Very unfortunate that the political heavy weights the Congress and BJP in nexus have passed the PFRDA Bill amidst strong protest from the Left parties in Parliment and also strong protest outside Parliment by the Central Government employees. If the PFRDA comes into force the question of Social Security for the Central Government employees will be under immense danger. The new PFRDA bill paves way for 26% FDI in the Pension sectors. Unlike China, our Indian politicians allow FDI with a guaranteed profit of 16% to the MNCs. Many of you might have exercised you option in NPS for "Auto-Choice" or "Active-Choice" and also you would be aware that 50% is the maximum cap for investing your Pension Fund in equities. The new PFRDA bill can be suitably amended to invest any amount of money in equities and after deduction the guaranteed 16% profit to the FD investors your pension would be given. The existing employees do not think you are on the safe line. You will be forced to exercise you option for switching over to NPS in phased manner. Government has plans to award a meagre lumpsum amount which will be deducted in the end on your pension to make you switch over to NPS. It requires strong will power and vigorous struggle to reverse this move of the government. Only a poltical change can reverse these anti-people economic policies. If is high time that Central Government employees instead of looking at individual persons start campaigning and vote for Non-Congress and Non-BJP third alternative. Without going into merits and demerits of individual persons who are in the third alternative it is high time that we support such third alternative either it may be Left parties or Arvind Kejriwal or Mulayam Singh or Jayalalitha any X,Y,Z who is non-Congress and non-BJP. Only this wisdom in electing by the people can put a reverse gear to the retrogate economic policies of this Government.
Posted on: Thu, 05 Sep 2013 01:22:31 +0000
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