Pension increase in private sector
IT is indeed gratifying to observe that the finance minister has announced a 20 per cent relief to the pensioners of the government in 2012-13 budget.
I hope this benefit is extended to the pensioners of both the public and private sectors since the increase in the cost of living has affected the employees of both sectors.
In the past, however, it had been assumed that since most public sector organisations have formulated their own pay structure, any increase announced by the government does not apply to them.
The government should make it mandatory to implement such increases in pay and pension as and when they are announced. This may be treated as a benchmark. They may, however, be free to give more than the mandatory minimum.