AIPEF urges for old pension scheme restoration for power sector staff

19 Jul 2024 CW Team

The All India Power Engineers Federation (AIPEF) has urged the Finance Ministry to reinstate the old pension scheme for employees working in power corporations across various states and Union Territories. In a letter addressed to Finance Minister Nirmala Sitharaman, the AIPEF demanded a uniform old pension system for all employees and engineers in the power sector.

A copy of the letter was also submitted to the chief ministers of all states, the AIPEF stated.

The letter emphasised the need for the central government to issue instructions to all states to implement the same old pension system for power sector employees and engineers nationwide. Shailendra Dubey , Chairman, AIPEF explained that under the New Pension System (NPS), 10% of an employee's salary is deducted and 14% is contributed by the government or employer. This amount is invested in the market through institutions like LIC, and the pension is based on market value at retirement, which can result in a lower amount.

In contrast, the old pension scheme provides a pension equal to 50% of the last salary drawn, with adjustments for pay revisions. Additionally, the government is responsible for providing the pension without requiring contributions from employees. In the event of a pensioner's death, the family pension is provided to the spouse.

AIPEF argues that reinstating the old pension scheme would ensure better security and uniformity for power sector employees. (Source: ET)

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..