The  General Secretary of the All India BSNL – DOT Pensioners Association (AIBDPA), Com.K.G.Jayaraj has, in a statement, strongly protested against the Cabinet decision on bringing  49% FDI in the Pension Sector. There is no need at all to bring FDI in this sector. Already the pension corpus is having lakhs of crores of rupees. It is only to capture this corpus by the corporates and MNCs that the FDI in this sector is decided.

Entry of such MNCs and Corporates in the Euro countries and US had disastrous results. The Pension Funds were put in the market and during the recession, everything was lost. Millions of pensioners lost their entire life savings in the recession. This is what is going to happen if the FDI comes in pension sector. The pension is in danger. We have to oppose and fight against this anti-worker decision.

AIBDPA has called for organising protest demonstrations on 8th October 2012 as the immediate action. All pensioners should actively participate and make the demonstration a big success.