Punjab Construction Worker Pension Scheme 2024

Punjab Construction Worker Pension Scheme: The state government of Punjab has implemented a new program that will grant a pension of Rs 5,000 per year to all registered construction employees once they reach the age of 60. This is a significant relief for the workers in Punjab. Check out this paper for additional information on the Punjab Construction Worker Pension Scheme.

Punjab Construction Worker Pension Scheme 2024

The project is essentially a Punjab state government initiative. After they reach the age of 60, the government plans to provide compensation in the form of a preferred pension plan to ease the burden on the state’s construction employees.

The government is encouraged to change the welfare program to include at least three pension categories that will be based until a worker has been registered with the board, as per the proposal made by the labor department.

The program was created specifically for the welfare of registered construction employees by another Construction employees Welfare Board.

Punjab Construction Worker Pension Scheme Highlights

Name of the schemePunjab Construction Worker Pension Scheme (PCWPS)
Launched ByGovt of Punjab
ObjectiveTo provide pension to citizen over 60 years old
BenefitsRs 5000 to construction workers
Official Websitehttp://bocw.punjab.gov.in/

The core objective of the government by introducing this scheme is to liberalize the pension plan so that it can cover more construction and building workers.

Features of Punjab Construction Worker Pension Scheme

The state department of labor has proposed a plan to modify the entire welfare program run by the Construction Workers’ Welfare Board. It was for the introduction of 3 different pension schemes or slabs between Rs 1,000 to Rs 2,000 per month.

Those workers registered with the Board for a period of 3 years will have to get pension of Rs 1,000 per month. In case, you are registered for 5 years will receive Rs 1,500 per month.

While workers registered with the board for a period of over 10 years will get a pension of Rs 2,000.

Benefits of Punjab Construction Worker Pension Scheme

The board has agreed to award construction employees a pension of Rs 5,000 per year after considering their circumstances. The danger they encounter at work will be considered. Additionally, it will include the window of time during which they can register after turning 60.

Restrictive’ current policy

All those construction workers who were registered for over 10 years since 2014 were eligible to get benefits under the current pension plan.

But the above pension plan was changed in 2021“live registered building and construction workers” plan for a period of 3 years as they attain the age of 60 years.

The pension was also increased from Rs 2,000 to Rs 3,000 as well. It looks like the above regulation was “restrictive” mainly because workers have to bear specific shift timing and fail to renew their registration.

 Punjab Construction Worker Pension Scheme Application Process

  • First, you need to visit the official website of the Construction Workers Welfare Board, Punjab
  • Next, click online application for the Construction Worker Pension Scheme once you reach the homepage
  • It will open a new page
  • Next, enter all the details in the application form
  • Finally, upload all the required documents and submit.

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