CADC (Employees Pension Fund) Rules, 2015 Introduced In the Winter Session

Kamalanagar, 13 November: The Winter Session of the 9th Chakma Autonomous District Council of this fiscal year which started yesterday was in its second sitting today.

The sitting had two items in its list of business. The Question Hour had one unstarred question put by Dangu Amaresh Chakma, the lone member in the opposition bench.

An official Bill titled β€˜Chakma Autonomous District Council (Employees Pension Fund) Rules, 2015 was introduced by the House leader Dangu Kali Kumar Tongchangya, CEM, CADC. The Bill seeks to address the impending fund constraint the Council may have to face with regards to payment of retirement, pension and other benefits to the Chakma Autonomous District Council employees. With time the number of pensioners of Chakma Council has been growing which is posing problem to meet fund requirement against pensionery benefits from Grant-in-aid alone. The interest beyond 3% accruing to the fund shall be utilized to meet deficit against payment of pensionery benefits out of Normal Grant-in-aid.

The Bill makes it mandatory for all the employees except those of on deputation or master roll or fixed pay to be subscriber. Each subscriber shall have to contribute at the rate of minimum of 6% of their basic pay. However, if a subscriber desires to contribute more than 6%, he/she shall be allowed up to 10% of his/her basic pay. On retirement the subscriber will be entitled to the principal amount standing to his/her credit with compound interest at the rate of 3% per annum.
The session was adjourned till next Monday when the Bill will be discussed and voted.