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10.08.2016

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Cabinet approves introduction of Pension and Post-Retirement Medical Schemes as part of superannuation benefits for Employees of Food Corporation of India

MANU/PIBU/0678/2016

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for introduction of Pension and Post-Retirement Medical Schemes as part of superannuation benefits for Employees of Food Corporation of India (FCI) as per guidelines of Department of Public Enterprises (DPE).

The annual financial implication for both schemes combined would be around Rs. 134.4 crore at present level of salaries of the employees. FCI was established in 1965 under the Food Corporations Act, 1964 for the purpose of procurement, storage, distribution and sale of foodgrains and other foodstuffs. Over the years it has played a pivotal role in achieving the objective of food security for the country. Given its strategic importance, size of operations and other parameters, FCI has been recognised as Schedule 'A' Central Public Sector Enterprises (CPSEs).

Tags : Pension and Post-Retirement Medical Schemes Approval

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