Panjab University pension policy matter to come up again in syndicate meeting on September 27 again

Around eight years after employees sought another chance to opt for the Old Pension Scheme, the Panjab University syndicate will take up the matter again in its upcoming meeting on September 27

Around eight years after employees sought another chance to opt for the Old Pension Scheme, the Panjab University syndicate will take up the matter again in its upcoming meeting on September 27.

The syndicate, which is the varsity’s executive body, will have 19 items for consideration on its agenda in its meeting on September 27. (HT File)

The syndicate, which is the varsity’s executive body, will have 19 items for consideration on its agenda. The members of the syndicate will again deliberate on the recommendations of a committee (given on November 7, 2019) that was constituted to look into the various aspects of the pension policy of Panjab University.

On January 29, 2014, Panjab University Staff (non-teaching) Association president had made a representation that the employees of the university be given another chance to opt for the Old Pension Scheme.

After deliberating on the issue, the panel in its meeting on November 7, 2019 ,had recommended that the issue of grant of another chance to opt for the old pension scheme be re-submitted to the syndicate. The syndicate is empowered to allow the employees to avail such options within the period prescribed by it, the committee has said.

It also recommended that there was no embargo to give the staffers an additional opportunity now and no permission from any authority or ministry is required. The committee had also recommended that employees below the age of 35 who joined between January 1, 2004 and February 22, 2006 are also entitled to exercise an option as provided in PU pension regulation 1.8.

While considering the matter, the PU syndicate in its March 8, 2020, meeting had said that recommendations of the committee with some modifications should be legally examined and the case be again placed before the Syndicate after legal vetting.

Recently, a committee of fellows constituted by the vice-chancellor examined the issue and observed that the matter has financial liability that can have far reaching consequences and suggested that matter may be thoroughly discussed in the syndicate.

Other agendas of syndicate

The PU syndicate in its September 27 meeting will also take a decision on proposed amendment related to the provident fund of temporary, daily-wage and contractual employees of the university. It will also consider the proposal to constitute a new separate nominated board of studies, for undergraduate and postgraduate board of studies in applied arts, painting, graphics (printmaking) and sculpture.