Govt may hike cess levied on coal production to boost pension corpus

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Govt may hike cess levied on coal production to boost pension corpus - Business Standard

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The Coal Mines Pension Scheme (CMPS)-1998, which covers pensioners of CIL, Singareni Collieries (SCC) and some other coal firms, is administered by the CMPFO which comes under the Coal Ministry.

In a move to secure the post-retirement benefits of more than half a million pensioners of public-sector coal mines, the Centre is planning to raise the cess levied on coal production — the cess funds the pension corpus — from Rs 10 per tonne to Rs 25 per tonne.