Employees and pensioners in the Supreme Court on Thursday tore into the controversial amendments on “determination of pensionable salary” introduced into the Employees Pension Scheme (EPS) of 1995.
Appearing before a Bench led by Justice U.U. Lalit, senior advocate Jayant Muth Raj, appearing for employees of Kerala district cooperatives, trashed the claims made by the Centre and the Employees Provident Funds Organisation (EPFO) in court that the EPS-1995 was facing “huge financial difficulties”.
“There is surplus money in the scheme. Whatever they (government and EPFO) are are earning as interest is more than what they are paying as monthly pension,” Mr. Muth Raj submitted.
