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The first governing body consisted of 5 members, and was headed by chairman K P Sreedhara Kaymal. The staff of the erstwhile Department of Electricity of the Thiru-Kochi state were transferred to the KSEB. At the time of its inception, in 1958, the KSEB had an installed capacity of 109.5 MW, with a total annual internal generation of 441.35 MU.
Repealed from 1 January 2004, it had a defined-benefit (DB) pension of half the Last Pay Drawn (LPD) at the time of retirement along with components like Dearness Allowances (DA) etc. OPS was an unfunded pension scheme financed on a pay-as-you-go (PAYG) basis in which current revenues of the government funded the pension benefit for its retired ...
The municipal corporation purchases power in bulk from the Kerala State Electricity Board (KSEB). The budget for this operation, however, is separately prepared and is not included in the annual municipal corporation budget. The separate books of accounts of the operation are also kept under the cash-based system.
The National Social Assistance Scheme is a limited social safety net for the elderly poor and disabled who falls under the official poverty line. It is a non-contributory pension introduced in 1995. It is targeted at people between 60 and 65 years old who have not been in paid work either for health reasons or because they were carers.
The Pension Parishad – an initiative to ensure universal pension to all workers in India – has been demanding that the Government of India establish a "non-contributory and universal old age pension system with a minimum amount of monthly pension not less than 50% of the minimum wage or ₹ 2,000 (US$23), whichever is higher." [51]
A pensioner is a person who receives a pension, most commonly because of retirement from the workforce. [1] This is a term typically used in the United Kingdom (along with OAP, initialism of old-age pensioner), Ireland and Australia where someone of pensionable age may also be referred to as an 'old age pensioner'.
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KSRTC topped with a loss of ₹ 1,976.03 crore which was 30.08% of the total loss, KSEB came second with a loss of ₹ 1,822.35 crore, representing 27.74% of the total loss, and Kerala State Beverages Corporation came third with a loss of ₹ 1,608.17 crore, accounting 24.48 percent of total loss. [11]