Trust to govern pension scheme for transport workers

By Our Special Correspondent

CHENNAI, SEPT. 28. The State Government will establish a `Common Trust' to administer the `Pension Fund' for 1.25 lakh employees of 21 State Transport Undertakings (STUs), following the Government's recent sanction of a pension scheme for them. The pension disbursal would commence in a month's time.

Announcing this at a press conference here today, the Transport and Labour Minister, Mr. Ponmudi, said the Government had appointed Mr. N. Thiruvenkadathan, Regional Provident Fund Commissioner, as Administrator for the Tamil Nadu State Transport Corporation Employees Pension Fund.

To facilitate the implementation of the pension scheme for the transport workers, Mr. Ponmudi said the Government had issued orders yesterday to exclude the STUs from the purview of the Employees Provident Fund and Miscellaneous Act 1952, with effect from September 1, 1998. Workers who retired after that date would be eligible to receive the pension, he said.

The Trust would function in a full fledged manner, soon after it was registered, necessary exemption obtained from the Income Tax Department and after getting back the management contribution paid to the Central Provident Fund, he said.

The 11-member Board of Trustees for the proposed Trust would include the Deputy Secretary, Transport Department, Deputy Secretary, Labour and Employment Department, a representative of the Finance Department, three seniormost Managing Directors of STUs, a Chief Accounts Officer of the STUs and four representatives of the Trade Unions, the Minister said.

With such concrete steps taken, Mr. Ponmudi said some trade unions' doubts over the implementation of the Pension scheme for transport workers had been dispelled.

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Section  : Southern States
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