AIACE seeks govt intervention in non-payment of interest due to delayed CIL pension scheme

New Delhi: An association of serving and retired executives of state-owned Coal India Ltd (CIL) has sought the government’s intervention with regard to the long-pending issue of non-payment of interest due to delayed finalisation of the pension scheme of the PSU.

“Our association requests your kind intervention for speedy approval of payment of interest from January 1, 2007, at the compensatory interest rate, for delayed settlement of CIL Executive Defined Contribution Pension Scheme-2007 as superannuation benefits for both board level and below board level executives of CIL,” All India Association of Coal Executives (AIACE) Principal General Secretary P K Singh Rathor said in a letter to the government.