Thiruvananthapuram: Government has initiated steps to implement ‘Jeevanandam’, an annuity scheme, by deducting a fixed amount every month from the salary of government employees. The project is being implemented to give a fixed amount in return every month once the employees retire. 

The annuity scheme announced earlier by Finance Minister KN Balagopal in his last budget speech would be implemented through State Insurance Department. As part of the implementation of the scheme, finance department has asked Insurance department to prepare a draft report regarding the project. 

Government to benefit through the project

As of now, government has been deducting Rs. 500 from government employees every month in connection with Medicep health project. Besides this, 10 % of the salary is being deducted from those employees included in the participatory pension project also. The employees also have been giving a share of their salary as PF and other deductions. The proposed deduction from the salary in connection with the implementation of “Jeevanandam” would be a heavy burden for the employees. It is said that, if the government decides to deduct even 10% in connection with the project, they would get crores of rupees which could be used to meet the expenses of the government.

It lacks clarity regarding whether the employees would get any sort of insurance protection while implementing the annuity scheme. This would be made clear only when the draft document regarding the project is prepared. 

Opposition to protest

Meanwhile, leaders of pro-UDF employees organisations have come out protesting against the project alleging that the government is trying to overcome the financial crisis prevailing in the state by deducting money from the salary of the government employees. A meeting of Secretariat Action Council held on Friday decided to organise protest programmes against the project. They alleged that the government is only aiming to withhold the pension benefits of the employees retiring from the service.