Pension reform

Sir,

It is with great pleasure that I read the article entitled ``Pension Reforms Bill: Violation of the right of working people’’. I found the article to be particularly illuminating because:

  • it brings into sharp focus many of the points in “The Pension Fund Regulatory and Development Authority (PFRDA) Bill 2011” which is to be tabled in the monsoon session of Parliament that has just begun,
  • it points out that pension must be affirmed as universal right, since it is workers who create value,
  • that the demands of workers are just,
  • old age security must be a right,
  • and that the bill does not address any of the concerns of the workers and is rife with fraudulent claims.

The article has a large educational component to it, which educates the readership of MEL of the history of the New Pension Scheme, and the history of the Employees Provident Organization. It is shown that the provisions of the bill are one-sided and not binding on the side of the employers. Thus the bill will only aggravate the tensions between employers and employees.

The article points out that the bourgeoisie is eyeing the pension funds as a reserve for liberating large amounts of cash for speculation. The working class knows that all these activities will only worsen their position and their bargaining power. An article of this kind has value since it exposes the machinations of the bourgeoisie and the state. I commend you for carrying this article.

Sincerely,

S. Nair, Kochi

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Defeat Privatisation    Aug 16-31 2013    Letters to Editor    Rights    

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