SAIL pension scheme: RSP to hold special session on Feb 20

Rourkela: A special awareness session on SAIL Pension Scheme will be organised at Civic Centre, Rourkela, by RSP on February 20. The objective of the programme is to create awareness on the schemes provided by various Annuity Service Providers (ASP). The ex-employees, who are eligible for pension as annuity, are requested to attend the programme and get details regarding their queries on various schemes.

The SAIL Pension Scheme for employees of SAIL circulated by Corporate Office covers all executives (including Management Trainees) on the rolls of the company on or after January 1, 2007 (including those appointed at the board level) and non-executives (including trainees recruited for eventual employment) on the rolls of the company on or after January 1, 2012.

Ex-employees eligible for SAIL Pension Scheme will be considered for drawing pensionary benefits in phases starting from January 1, 2012 for non-executives and from January 1, 2007 for executives.
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In the first phase, ex-employees separated on or before March 31, 2013 shall be covered.

Notably, with effect from February 3, 2020, ex-employees, whose employer's contribution corpus is less than Rs 2 lakh are applying for refund of the corpus. RSP has refunded Rs 1.28 crore till February 14, 2020 and has received more than 600 applications for refund till date.

As part of the SAIL Pension Scheme, employees whose employer's contribution is more than Rs 2 lakh or those who wish to give voluntary contribution and make the net corpus more than Rs 2 lakh are required to apply online on www.sail.co.in .

In order to facilitate the ex-employees eligible for SAIL pension, a camp is in operation at Town Engineering Conference Hall, Sector-5. Ex-employees are also requested to take advantage of the camp.