Heed the pension prayer

Adequacy of resources doesn't stand in the way of pension revision in the RBI

With reference to Anup Roy’s report, “RBI employees stage protests on pension issue” (November 3), employees and retirees of the central bank have been holding these protests for 12 years now.

A pension scheme along the lines of the central government pension plan, the Contributory Provident Fund (CPF), was introduced in the Reserve Bank of India on January 1, 1986. The RBI pension regulations had built-in provisions for a pension revision, whenever wages were revised for serving employees. This was reiterated by the RBI in a circular dated March 13, 1992. Following the circular, employees hesitated to opt for pension surrendering