Mangalore University is taking serious steps to solve its persistent pension payment problems. The institution faces a prolonged cash shortage that has delayed payments to retired staff members for too long. Now, university officials are actively considering the creation of a dedicated 'Pension Fund Trust'. This trust aims to guarantee timely disbursal of pensions, bringing much-needed relief to former employees.
Addressing Pensioner Concerns
Retired professors and staff have repeatedly raised concerns about irregular payments. One retired professor from Mangalore University shared his frustration openly. He stated that pension payments regularly arrive two weeks behind schedule. The professor also made a serious allegation. He claimed the university created a separate account for pension funds but then used that money for developmental work on campus instead.
University Leadership Responds
P L Dharma, the Vice-Chancellor of Mangalore University, spoke about the proposed solution. He revealed that the current finance officer suggested the trust idea. The primary goal is to build a substantial corpus that will manage pension payments independently. "Currently, we are in trouble for not disbursing pension funds in time to retired employees," Dharma admitted frankly.
He outlined the plan clearly. Every month, the university will contribute a significant amount to the trust fund. Over a decade, this consistent contribution should grow the corpus into a huge amount. This growth will ease pension payments considerably. Dharma emphasized a crucial safeguard. "However, there will be a clause to ensure that the amount will be utilised only for pension-related payments, and for no other purpose," he stressed firmly.
Streamlining Management and Reducing Dependency
University officials believe the trust will streamline pension management effectively. It should reduce their dependency on delayed government grants. The Vice-Chancellor will serve as the chairman of this trust, providing direct oversight. This structural change aims to create a more reliable system for retirees.
Hurdles and Next Steps
Establishing the trust is not without challenges. Judith Mendonca, a syndicate member at Mangalore University, acknowledged existing hurdles. Further discussions are necessary before finalizing the plan. The next syndicate meeting scheduled for January 23 will address these issues in detail. University stakeholders will debate the proposal thoroughly at that gathering.
The move toward a Pension Fund Trust represents a proactive attempt to solve a chronic problem. Retired employees of Mangalore University wait anxiously for a resolution. They hope this initiative will finally ensure their pensions arrive on time, every time.
