Patiala, Oct. 5 -- The Punjab Building and Other Construction Workers Welfare Board slashed pension benefits earlier this year claiming the existing scheme would impose an unsustainable Rs.360-crore annual burden. Official records accessed by Hindustan Times, however, reveal that the board's actual annual pension liability is just Rs.4.4 crore-a tiny fraction of its projection.

The board's current commitments cover only 1,350 beneficiaries (1,132 old-age pensioners and 218 family pensioners). This annual Rs.4.4-crore expenditure accounts for barely 1% of its dedicated pension corpus of Rs.436 crore, raising questions over the rationale used to reduce workers' benefits. Overall, the board holds total funds of around Rs.2,100 crore.

To ar...