APCPSEA continues relay fast against CPS

Vijayawada: Andhra Pradesh Contributory Pension Scheme Employees Association continued its relay fast at Dharna Chowk here on Monday.

Addressing the gathering, AP JAC state general secretary I Venkateswara Rao said that CPS was not useful to the employees and urged the government to abolish CPS and revive the old pension schemeFor the convenience of the employees. He mentioned that investing pension funds in the stock market was not correct.

There was no g uarantee for returns. He demanded the Chief Minister N Chandrababu Naidu to pass a resolution in the state Assembly to revive the old pension scheme and warned that they will continue their agitation till the state government accepts their demand. He said with the cooperation of the employees, they would intensify their agitation. “If the government wants to abolish the CPS, it may cancel it and revive the old scheme,” he added.

He further said that they will explain how it was not useful to the employees and need to revive the old pension scheme.
Later, the employees holding the placards raised slogans against the CPS toregister their protest.
UTF leader Babu Reddy, APCPS Association leader K Muniprasad, S K Das were among those who participated.