The Karnataka Building and Other Construction Workers’ Welfare Board will tie up with Life Insurance Corporation of India to implement the scheme. Workers who have attained the age of 55 years (50 years for women) are eligible for pension.
Labour Minister Bache Gowda said at press meet that as many as 1.25 lakh construction workers have registered with the Board.
According to the Building and Other Construction Workers’ (Regulation of Employment and Conditions of Service) Act, 1996, construction companies should remit a cess of one per cent of the project cost to the Board. The Board has so far collected a cess of Rs 703 crore.
The registered construction workers can avail of the accident relief, maternity benefits besides financial assistance for their children’s higher education. However, once the workers begin to get pension, they cannot avail of other benefits. The members can continue to work though the retirement age has been fixed and they continue to get pension in such cases, Gowda said.
The construction companies can pay the registration fee, premium and such other remittances at BangaloreOne and KarnatakaOne centres.
Published 28 February 2011, 18:55 IST