The University of Madras will pay ₹95 crore from its corpus fund to retired staff.
Professors said this will further weaken the university’s finances, as the monthly
pensions are already being paid from the interest of this fund. The corpus,
worth ₹300 crore, was set up in the 1980s to provide monthly pensions to retired
staff.
A notice from the university registrar said a special syndicate meeting will be
held on Friday, Nov 28, at the University Centenary Building, Chepauk Campus,
Chennai. The agenda for the meeting will include this payment.
Sources in the government said the corpus fund is meant for pensioners, and
part of it will be used to pay retirement benefits to more than 450 pensioners
and family pensioners who retired between 2015 and 2025.