Visakhapatnam Steel Executive Association rallied for the disbursement of pending higher pensions, affecting approximately 1,800 employees and retirees of the steel plant. These pensions have remained in abeyance since March 2024, leaving many in a precarious financial situation. The pension holders, who deposited their contributions totaling around ₹400 crores with the Regional Provident Fund Commissioner in Visakhapatnam, seek rightful recompense following a Supreme Court mandate issued in November 2022.
This landmark verdict, a culmination of a protracted seven-year struggle, affirmed the right of eligible public sector employees, including those from RINL-VSP, to opt for augmented pension benefits. VSEA Secretary K.V.D. Prasad emphasized that the higher pension scheme promises significant financial relief, transitioning pensions from meager sums to potentially substantial amounts, thereby transforming the retirement experience for many.
Despite the court's intervention, disbursement has yet to materialize, prompting Prasad to issue a stern warning regarding the potential for protests if their demands remain unaddressed. The unresolved issue currently languishes within the Delhi EPFO office, exacerbating frustrations among the workforce. The VSEA's unwavering determination to secure justice underscores the need for timely and equitable resolutions in the face of bureaucratic inertia. As the deadline for action looms, the stakes rise for both the association and the employees reliant on their rightful entitlements.
