A new pension scheme is set to be introduced for workers engaged in the tea industry, jointly by the Agricultural and Farmers’ Insurance Board and the Ministry of Plantation and Rural Infrastructure.

According to the Government, the initiative will cover individuals employed on tea estates and in tea factories, with contributions adjusted according to each worker’s financial capacity.

Under the scheme, a person joining at age 18 can contribute Rs. 600 per quarter, and upon reaching 60 years of age, will be entitled to a pension of Rs. 5,000. 

Depending on the level of contributions, monthly pensions of Rs. 15,000, Rs. 20,000, Rs. 25,000 and upwards can be secured, with flexibility for participants to increase their benefits at any time.

The government further states that the program also includes life insurance coverage. 

If a contributor suffers a sudden accident leading to full or partial disability, or dies before retirement, compensation will be paid.

In the event of death while receiving a pension, the spouse will continue to receive the benefits.

The government added that the primary aim of the scheme is to safeguard the lives of tea industry workers, ensuring financial security when they no longer have the strength to work. (Newswire)

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