Coal Pensioners Seek Pension Reform: A Call for Justice

Former top executives of Coal India Ltd, its subsidiaries, and Singareni Collieries have petitioned Prime Minister Modi to revise the stagnant pensions of retired employees. They blame mismanagement and suboptimal investments for the issue and stress the need for fair returns, as outlined in the CMPS-1998 scheme.

Former leaders of Coal India Ltd and its subsidiaries, alongside Singareni Collieries, have reached out to Prime Minister Narendra Modi for intervention in revising retirees' pensions, citing they 'remain constant forever.'

In a letter dated March 23, the retired officials highlighted that pension increments fail to account for inflation, compelling many retired miners to face financial difficulties. They attributed this to poor management of the Coal Mines Pension Scheme (CMPS)-1998 and suboptimal investment decisions, problems previously identified in a Public Accounts Committee report.

The letter argues that despite the government's assurance to review the scheme, no steps have been taken. The former executives emphasize that their appeal is not for sympathy but for rightful pension restoration based on their contributions.

(With inputs from agencies.)