Future of pensioners will crash with FDI: Mamata Banerjee

Intensifying her tirade against Centre for allowing FDI in pension funds, Mamata Banerjee said future of pensioners in country would be jeopardised.

Updated: Oct 07, 2012, 22:59 PM IST

Kolkata: Intensifying her tirade against the Centre for allowing FDI in pension funds, Mamata Banerjee on Sunday said the future of pensioners in the country would be jeopardised the way it had been in the US.

"With introduction of FDI, the future of pensioners will crash. Let us be united and oppose this move," Banerjee wrote on Facebook.

The CM narrated the experience of an Indian working in a well-known IT company in California who was putting his savings into a pension fund to secure his future at old age.

"It is shocking that when the US stock market crashed during 2008-09, our Indian friend lost 50 per cent of his entire savings. He was left high and dry without compensation and with an uncertain future," Banerjee said.

"Do you want this to happen to you and fellow countrymen on introduction of FDI in pensions by UPA II?," she asked, saying this was not just a stray case, but one among millions of sufferers in USA where pension funds are invested in stock markets.