Retired employees’ fear about issue of financial bonds in lieu of retirement benefits

Employees circles are agog with with speculation that in a bid to tide over the financial crisis, the government was planning to do so.

Hyderabad: Is the government planning to issue financial bonds, in lieu of the cash payment of benefits for those retiring from service on superannuation?

Employees circles are agog with with speculation that in a bid to tide over the financial crisis, the government was planning to do so. A sense of fear has gripped the employees who are due to retire. The bonds that are likely to be issued to the retiring employees will have to be encashed after a stipulated period of time. But many employees, who had just retired from service and those those who are about to retire fear that their retirement benefits could be delayed.

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K Bhiksham Naik, a Record Assistant in Revenue department is set to retire from service on June 29. He is already tensed about his retirement benefits. “There are reports that government may issue financial bonds with a period of two or three year time for encashment for people like us. This will be against rules. I will not accept any bonds and will stage protest,” said Bhiksham Naik.

Government employees allege that there was delay in finance department over approval of cheques issued to retired employees. Dhanlaxmi, who served as an attender in the revenue department, retired last month. The Pay and Accounts wing sent her cheque to the finance department but it was kept pending for over a month now. She has been appealing to the officials to clear her cheques but in vain, said Bhiksham Naik.

Dr BR Ambedkar Telangana Secretariat Employees Association vice president N Narsing Rao said there was delay in clearing a few cheques issued to retired employees from the finance department.