Demanding that the move be stopped, Federation General Secretary Sukomol Sen threatened that the organisation would take to a protest action if the UPA Government failed to desist from the "ill advised and harmful" attempt.
In a communique, Mr.Sen said though the Federation and the Government employees' organisations in the Central Government and Defence sector had been resisting the introductionm of the "IMF-World Bank dictated" new pension schemed, PFRDA was blatantly ignoring the objection to invite expression of interest from Indian and foreign private financial companies to invest the forced pension contribution of the newly recruited employees in the stock market.
"This action cannot take place without the go-ahead by the UPA Government," he said.
Left MPs and the Finance Ministers of West Bengal, Kerala and Tripura had also been opposing the scheme because of its "harmful nature" forcing the Government to put on hold the passage to the Bill in Parliament, Mr.Sen said.
"We vehemently protest against this ill advised and harmful attempt by the interim PFRDA and demand the UPA Government to stop it. Otherwise the employees will call for vigorous protest action throughout the country against this anti-employee step," he said.