IndiaCSR News Network
NEW DELHI: Ministry of Shipping has decided to allow consolidation of pension in respect of retired Group C and D employees of Major Port Trusts.
Now their pension fixation will be done notionally with effect from 1.1.2007 and actual arrears to accrue with effect from 1.1.2012 entailing a financial implication of Rs. 536.51 crore for three years. This decision will now be implemented by the respective Major Ports from their own resources.
Earlier, the Labour Federation of the Major Port Trusts had sought the intervention of the Minister of Shipping and Road Transport & Highways, Nitin Gadkari for an early resolution of their long standing demand for consolidation of pension in respect of Group C and D Employees of Major Port Trusts who retired prior to 1.1.2012.
Since the overall port performance and profitability has improved during the last one year, this measure of consolidation of pension is a step toward sharing the prosperity of the Major Ports with the port community.
(IndiaCSR is renowned and No.1 news portal in the domain of CSR, which is live since 2009. www.indiacsr.in is for you and your organization. IndiaCSR believes in uninterrupted generation and flow of information. We also believe in values and extending value based descriptions. IndiaCSR is mirroring what is happening around in the contemporary environment. We request you to support the initiative and promote it within your network. We welcome reactions to the stories, comments on issues that interest you, feedback & comments from your side to make it more purposeful and resourceful. Please send us your organization’s news, press releases, articles and contributions to editor@indiacsrnetwork.com. You can find updates at Facebook IndiaCSR News)
