78.2% I.D.A. MERGER

10 May

As we understand,  on Friday, 06.05.2016, itself the Cabinet Memo has been sent to the Cabinet Secretariat and PMO by the Pension cell of DOT.

 As informed earlier by us, it contains the following proposal for approval of Union Cabinet on following:

 1)      For Pre 2007 Pensioners: Their pension will be notionally revised by merging 78.2% IDA as on 1-1-2007 but the revised pension will be actually paid from 10-06-2013

2)      For Post 2007 Pensioners: Their pay will be notionally revised from 1-1-2007, which will also revise their last pay drawn notionally. The pension will be revised accordingly from their date of retirement but will be actually paid from 10-06-2013.

 3)  Annulment of following provision which was earlier approved in 2005 by the Cabinet:

 “the annual pension liability of the government in respect of employees of DoT/DTS/DTO who retired prior to 1.10.2000 and those who have worked or working in BSNL on deemed deputation and for those who are absorbed in BSNL, shall not exceed 60% of annual receipts to the Government from (i) Dividend income from MTNL/BSNL, (ii) Licence fee from MTNL/BSNL, and (iii) Corporate Tax/Excise Duty/Service tax paid by BSNL. If the annual pension liability exceeds the figure 60%, the balance amount is to be paid by BSNL.”