Plight of a person retired from a non-pensionable job 

Dhaka,  Mon,  25 September 2017
Published : 21 Aug 2017, 22:06:43
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Letter

Plight of a person retired from a non-pensionable job 

I am a retired person from a non-pensionable job in a sector corporation. After retirement in 1984, I was worried about the miseries of old age. I retired when the highest pay as per government pay commission was Tk.6000/- per month against today's Tk.85,000/- along with other additional benefits. I invested a part of my retirement benefits in ICB unit certificates that could yield a benefit of Tk.100,000/- as dividend against 4000 ICB units. But now the income has gone down to Tk.50,000/- against the same 4000 ICB units. Some of my investments in shares and stocks have also turned out to be losing concerns, thanks to the market manipulators. The concerned authorities are also aware of such manipulations, but the manipulators appear to be too powerful to be overpowered. The savings certificates under my possession continue to yield lesser interests with time while the bank interest for deposits is hardly 3.5 per cent at present. I used to earn Tk.25000/- per month as house rent but I could not raise it annually by more than Tk.1000/- per month. It is becoming increasingly difficult for me lead a modest life with my modest income which may go down further if the government at the behest of the business community reduces interest rates in banks further. This is the present state of affairs for a non-pensionable job holder. 

Mahmud Ali

138, New Eskaton

Dhaka 1000

 
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