The Bihar Bar Council Chairman Shri Manan Kumar Mishra, announced and launched an ambitious plan for a pension scheme towards supporting advocates in Bihar. The scheme was launched for more than 1 Lakh advocates. The scheme was launched in early January.
Mr Mishra said, on the launching event, that advocates who have had 30 years of practicing experience would be eligible to get monthly pension of Rs 5,000. Those who have attained 65 years of age while doing so, would also be benefited from the scheme, for the rest of their life irrespective of them being in practice or not.
Some salient features of the scheme:
- If those willing to avail the facility of pension scheme are below 30 years of age, they would have to invest a one time payment of Rs 7,000
- The advocates who have crossed the 30 year age limit, would have to deposit Rs 10,000 (Rupees Ten Thousand) as a one time payment.
- Designated senior advocates will have to pay Rs 15,000 each
- All payments are to be made to the bar council to get the benefits of pension scheme.
- In the event of the death of the beneficiary advocates, their wives would get upto Rs 2,500 per month as family pension.
- All advocates who are willing to come under this pension scheme umbrella would also have to purchase regular journals from the Bar Council.
- There is a locking period of 10 years from the date of registration.