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Addl financial burden on APSPDCL
The controversy over enhancement of superannuation age of employees has resurfaced in the Andhra Pradesh Southern Power Distribution Company Limited (APSPDCL) with leaders of two employees union seeking the management to approve the retirement age to 60 in the corporation on par with the government employees to whom the retirement age is increased to 60 after TDP came to power in 2014
Tirupati: The controversy over enhancement of superannuation age of employees has resurfaced in the Andhra Pradesh Southern Power Distribution Company Limited (APSPDCL) with leaders of two employees union seeking the management to approve the retirement age to 60 in the corporation on par with the government employees to whom the retirement age is increased to 60 after TDP came to power in 2014. Enhancing retirement age by two more years would cause an additional financial burden of Rs 2,000 crore on the company towards salaries.
Highlights:
- Leaders of two employees union reportedly collected lakhs of rupees from retired employees and assured them of getting enhancement in retirement age with political leaders support .
- APSPDCL is facing financial loss Rs 3,000 crore per annum. Increase in retirement age will put an additional burden of Rs 2,000 crore on the corporation .
- Various employees associations are strongly opposing enhancement in retirement age.
At present, more than 18,000 employees are working in SPDCL comprising 8 districts in the state and also in the corporate head office at Tirupati. The employees both officials and staff including retired and those nearing retirement eagerly waiting for age relaxation as they would get two more years of service if the proposal for superannuation age was approved by the state government with retrospective effect from 2014.
According to a company official, the SPDCL incurring losses of about Rs 3,000 crore per annum and the increase in retirement age would add more to the losses. Majority employees are opposing the proposal of enhancing the retirement age. As of now, there are no indications on the orders from the government for enhancement of retirement age. However, it is alleged that two employees’ union leaders of SPDCL, who retired, have collected lakhs of rupees from retired employees by assuring them to get favourable order for increasing retirement age from 58 to 60.
Recently, two union leaders lobbied through political leaders for implementation of enhancing retirement age for their own vested interests. Sources said that leaders of the Junior Accounts Officers Association in their representation to CMD explained him on the financial difficulties the SPDCL would face if the retirement age increased and the danger of pushing the company into a financial crisis. Once corporation implements age relaxation, more than 900 retired employees will get the benefits. In 2014, company has given promotions as per seniority in retirement vacancies.
At present, there are no vacancies for reappointment of retired employees, in case, if they get reappointment. Various associations of the SPDCL are strongly opposing it as employees would be deprived of promotions. A union leader, who is in service, speaking to The Hans India said enhancing the retirement age will cause more financial burden on the company. He made an appeal to higher officials not to issue the orders for enhancing the retirement age.
By K Nethaji
