PTCL launched VSS 2016 – Major Benefits & Main Features
Islamabad (Sunday, November 27, 2016) – Tomorrow Pakistan Telecommunication Company Limited (PTCL) launching its forth Voluntary Separation Scheme / Golden Shake Hand for its employees. Regular having Basic pay Scales (BPS) and NCPG pay groups employees will be eligible to avail this pre-retirement scheme. Formally the VSS scheme will be launched on Monday, November 28, 2016. In previous PTCl has launched this VSS Scheme in 2007, 2012 and 2014. Almost more than 45,000 employees has availed this scheme from 2007.
PTCL was privatized by Pervaiz Musharraf’s Government in 2006. UAE’s based Etisalat purchased its 28% Shares and got 100% management control. PTCL is suffering after its privatization. While PTCL pensioners are knocking doors of courts for their rights. Still lot od cases are pending in courts of law and justice.
Main Features of VSS 2016
- As introduced in VSS 2014, PTCL has also promised some attractive benefits in current VSS scheme. Terminal benefits will consist of two options of commutation (With Pension+Medical and Lump Sum payments).
- Pension Age has been further decreased from 20 years of service to 18 years of service period.
- For NCPG employees 4 times more gratuity
- Payment of Allowances of 5 Months for BPS and 15 months for NCPG employees.
- Early bird Allowance of Rs.2,00,000 for all VSS optees whi will apply latest by 15 December 2016.
- Leave Encashement of 180 DAys (6 Month) for each employee.
Who can Avail VSS 2016?
All NCPG and BPS Employees Grade 1-20 can avail this scheme having age less than 58 Years.