SEA & EPS95 Pension Warriors Meet MP M Sri Bharat

In a significant development, the Steel Executives Association (SEA) and EPS95 Pension Warriors met with Hon’ble Member of Parliament Shri M Sri Bharat to extend their heartfelt gratitude for his role in securing enhanced pension benefits for around 5,000 retired employees of Rashtriya Ispat Nigam Limited (RINL) and another 5,000 currently serving under the EPS95 pension scheme.

Salary Crisis at Visakhapatnam Steel Plant

Alongside expressions of thanks, the SEA delegation drew the MP’s attention to the critical issue of pending salaries at the Visakhapatnam Steel Plant. Employees have not been paid since September 2024, with a staggering 230% salary backlog yet to be cleared. Despite facing manpower constraints due to a reduced workforce and fewer contract workers, employees have managed to operate the plant more than 100 percent capacity of its two blast furnaces since November 2024.

Financial Struggles for Employees and Families

The financial hardship among employees is worsening. Negative credit ratings have severely limited their ability to access loans, especially for higher education purposes. With over 8,000 employees having children enrolled in schools and colleges, the crisis is becoming more acute as fee payments and new admissions loom.

Further compounding the issue, the wage bill has been reduced by approximately 20%, and perks and allowances have been deferred since August 2024. Notably, RINL staff are among the lowest paid employees under the Ministry of Steel, despite their consistent performance and dedication.

Assurance from MP M Sri Bharat

MP M Sri Bharat gave a firm assurance that he would take up the matter with the relevant authorities and work diligently to ensure timely resolution of the pending salaries. His commitment has provided a ray of hope for thousands of distressed employees and their families.

Delegation Details

The SEA was represented by its President Katam SS Chandra Rao, while the EPS95 Pension Warriors were represented by S/Sri Dwaram Swami Naidu, Dudu Srinivas, JA Swamy and P Venkata Rao. The meeting was held at MP M Sri Bharat’s office in Visakhapatnam.

About SEA and EPS95 Pension Warriors

The Steel Executives Association is a leading voice for the welfare of RINL employees, advocating for policy changes and better working conditions. The EPS95 Pension Warriors represent a pan-India movement fighting for fair and adequate pension rights under the Employees’ Pension Scheme 1995.