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Old pension policy: PU syndicate for a look into financial liability
The demand for allowing another chance to opt the old pension policy was discussed at the PU syndicate meeting on Tuesday
Old pension policy:
Deliberating on giving another chance to employees to opt for the old pension scheme, which was ceased in 2004, the Panjab University (PU) syndicate on Tuesday decided that the move’s financial liability should be examined before a final call is taken on it.
It was also discussed that the matter be again brought to the syndicate in a time-bound manner.
Eight years ago, on January 29, 2014, the Panjab University Staff (Non-Teaching) Association president had made a representation that university employees be given another chance (third) to opt for the old pension scheme, which includes payment of a monthly pension – a benefit not available to those joining the university after 2004.
“The demand was discussed and it was advised to check the financial liability, number of retired employees and categories before Diwali, and place it before the syndicate again for approval,” said syndicate member Davesh Moudgil, who supported the agenda.
“Financial liability should not be a restriction when it comes to the rights of employees,” said another syndicate member, who wished not to be named.
A PU panel in November 2019 had recommended that the matter regarding granting another chance to opt for the old pension scheme be re-submitted before the syndicate. The committee had also recommended that employees below the age of 35, who joined between January 1, 2004, and February 22, 2006, are entitled to exercise the option as provided under PU Pension Regulations 1.8.
The matter was previously taken up by the syndicate in March 2020, when it had resolved that the recommendations of the committee with some modifications be legally examined first.
New board of studies approved
The syndicate allowed the constitution of a new board of studies both for undergraduate and postgraduate courses in applied arts, painting, graphics (printmaking) and sculpture.
The executive body referred back the agenda regarding waiving off the recovery of excess interest amount from around 195 subscribers of provident fund.
The syndicate also approved the proposed amendment related to the provident fund of temporary, daily wage and contractual employees of the university.
Templates approved for recruitment
The syndicate gave its nod to the recommendations of a committee regarding the templates and application forms for direct recruitment of assistant professor, associate professor, professor and principal, as per UGC Regulations of 2018.
The varsity is in the process of recruiting teachers and it is understood that the posts may be advertised in October.
BOX: Fine imposed on 3 colleges
The varsity syndicate approved the recommendations of a committee to impose fine on three affiliated colleges for violating admission guidelines.
The panel had recommended a ₹2-lakh fine on the Institute of Management, DAV College, Sector 10, and a ₹10,000 fine on Government Home Science College, Sector 10, for carrying out admissions in violation of prescribed sanctioned strength. A similar ₹10,000 fine was also recommended on GNN College, Doraha, Ludhiana.
