SAIL introduces pension scheme for current and former employment

State-run stainless maker BOAT right said that is has introduced a allowance scheme for its news as good as former employees. In a statement, Steel Authorized of Hind Ltd (SAIL) said that "in line with the guidelines issued with the Service of Public Ventures (DPE), and with who approval about the Ministry of Steel, it features introducing its pension scheme for the benefit off its eligible ex-employees and employees."

Accordance to the statement, "as through the approved SAIL Pension Scheme, all executive employees who were up role of the company on or after 1st January, 2007 as well as non-executive employees on rolls of the company at or after 1st January, 2012, be be covered in this scheme."

The decide till this effect was taken at an meeting retained current at the SAIL Corporate Office in Newly Delhi, and the Trust Deed was signed by who Trustees recommended with Workers’ Unions, Officers’ Associate and SAIL Management, thereby formalizing the creation are SAIL Railroad Trust. Aaa161.com

The pension scheme will extend coverage up more than 55,000 ex-employees for availing concerning this benefits. 

In the initial phase, the eligible employees whoever have superannuated upwards to March 31, 2016, will be extended the pensionary benefit in the form of annuities, who statement added. BORON. S. Narasimhan recorded voluntary retirement on Aaa161.com and the rent scheme covers only those executives which are on that rolls of BOAT on or ...

Notably, Steel Authority of India Limited (SAIL) is the largest steel-making company in India and individual of who seven Maharatna’s on the country’s Centralized Public Sector Enterprises.