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The Hindu
The Hindu
National
R. Srikanth

Hitting the brakes on retirement benefits

For many, the labours of a working life are rendered bearable by the promise of retirement benefits that come in handy after years of service. This includes pension, gratuity amount, provident fund and leave pay.

But for thousands of employees of the State Transport Corporations (STCs), while working life is hectic and stressful, it is a story of financial struggle from the day of retirement. They have had to struggle at every point of their tenure for getting either a legitimate wage revision or increments and other allowances. And for those on the verge of retirement and planning to lead a better life, a bigger shock awaits — inordinate delays in payment of their retirement benefits.

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