What kind of job is this where pension is more than salary – Congress

Congress leader says that Sebi chief Madhabi Puri Buch’s average salary was around Rs 1.30 crore, but her average pension is Rs 2.77 crore.

Congress has once again counter-attacked on the issue of defending ICICI Bank’s Sebi chief Madhabi Puri Buch. Congress media department head Pawan Khera said on Tuesday that what kind of job is this where pension is more than salary. At a press conference at the party headquarters, Khera asked ICICI Bank whether the benefits given to Buch are also given to other employees of the bank.

He said that when Buch retired from the bank, she got a gratuity of Rs 71.90 lakh in 2013-14 and a retirement commuted pension of Rs 5.36 crore in 2014-15. She did not get anything in 2015-16, but her pension started again in 2016-17. If Buch’s average salary from 2007-2008 to 2013-14 was around Rs 1.30 crore, then her average pension is Rs 2.77 crore. What kind of job is this where pension is more than salary? Khera expressed hope that Buch would answer this.

Congress leader opposed ICICI’s explanation that employees, including retired employees, had the option to use ESOPs within 10 years of allotment. Referring to ICICI’s publicly disclosed ESOP policy, which allows former employees to exercise their options within three months of termination, Khera asked, “Where is the ‘revised policy’ under which Ms. Madhabi P. Buch was able to use her ESOPs 8 years after her voluntary retirement?”