HYDERABAD: State government employees covered under the CPS (contributory pension scheme) held a huge rally at Nampally Exhibition Ground on Saturday, demanding that Chief Minister K. Chandrashekar Rao replace it with the old pension scheme (OPS).
Thousands of employees from all the 33 districts along with their family members took part in the rally. The employees vowed to support the parties in upcoming elections which abolish CPS.
Addressing the meeting, TS CPS Employees Union (TSCPSEU) president G. Sthitaprajna demanded that the CM go to the Assembly elections only after abolishing the CPS. He said that employees covered by the CPS would completely support the BRS in that case.
Referring to reports of the BRS planning to incorporate the issue of abolition of CPS in its election manifesto, Sthitaprajna said, "We are not ready to accept this. If this is promised in the manifesto, it may take another five years for implementation."
He stated that over 2 lakh employees appointed after September 2004 were facing severe hardships as they were covered under CPS which does not provide any financial security or stability to employees and their family members after retirement.
Sthitaprajna said the contribution of employees under CPS was being invested in highly volatile stock markets causing severe concern among employees and their family members.
He demanded that the CM abolish the scheme and added that the Centre must return the funds contributed by CPS employees to facilitate the state government to restore the OPS.
