coal mines pension scheme

Wednesday, May 11, 2005

Central Government Pension Scheme and Coal Mines Pension Scheme-1998 are different schemes with difference in provisions of contribution. The benefits under the Coal Mines Pension Scheme-1998 is admissible to the beneficiaries in addition to the Contributory Provident Fund in which Coal companies contribute 12 per cent of the salary towards Provident Fund while in the case of Central Government employees, there is no contributory Provident Fund.

The Government's contribution for Coal Mines Pension Scheme- 1988 is one and two-third per cent of the salary of the employees subject to a maximum pay of Rs.1,600 per month and the Government's contribution for Employee's Pension Scheme 1995 is 1.16 per cent of employee's pay subject to a maximum pay of Rs.5,000 per month.

The amendment for improvement in Coal Mines Pension Scheme-1998 and in Provident Fund Schemes are made from time to time keeping in view demand of members and also sustainability of respective funds.

This information was given by the Minister of State for Coal & Mines, Dr. Dasari Narayana Rao in a written reply in the Lok Sabha today.

DS/SCH