Review on movement of CPS employees in TelanganaDo you know the details of Contributionary Pension Scheme implemented to government employees from 2004? Will you justify this pension system to government employee? Share your opinion here.
According to CPS system, 10% of Basic and DA is cut from the employee salary from every month and the same amount will be added to it and put it share market to give benefits or losses to the employee. Retirement employees in this pension system did not get any pension till today.
In Telangana, recently, a huge crowd of procession was taken place in Nizam grounds in Hyderabad. They fought for old pension scheme because a new pension system has been commencing from 2004. I am also victim of this CPS pension system. Number of employees who retired last December have not received any pension amount till now. MLA and MLC gets pension of 60000 rupees per month even though they are in power for 6 or 5 years. A government employee who is working for 30 years has no pension. So, my opnion is a government employee has to get life security by getting old pension system.