FDI in pension: Central govt employees to go on token strike

The Confederation of Central Employees and Workers said employees throughout the country were agitated over the government's fresh move to introduce the PFRDA Bill in this ongoing Parliament session.

"It is surprising that even after findings of the Committee set up by the government that the new Contributory Pension Scheme will only increase financial outflow for the government and the beneficiaries also stand to lose heavily on account of it, the government has chosen to go ahead with the New Scheme," K K N Kutty, secretary general, Confederation of Central Government Employees and Workers, claimed.

The employees organisations in Postal, Income-Tax, Audit and Accounts, Printing and Stationery, Geological Survey of India, Survey of India, Customs, Central Excise, CGHS, Central Water Commission, Central Public Works, Census, Atomic Energy Commission, Defence Accounts, ISRO and many other public utility departments have confirmed their participation in the strike action, a Union statement said.

The Pension Fund Regulatory and Development Authority (PFRDA) Bill seeks to grant statutory status to the pension regulator and open up the sector for foreign direct investment.

"The recent decision of the Government to allow FDI in pension sector will only further help transnational corporations to access to the hard earned savings of the Indian Common people to maximise their profit," Kutty said.

Apart from scrapping the new pension scheme, the employees have also demanded that the setting up of the

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