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The Delhi High Court Thursday suggested a pension scheme for victims of accidents who get compensation amount from the insurance companies and banks.

Senior advocate Arun Mohan, amicus curiae, proposed to the court that instead of paying a lump sum cash or fixed deposit in a bank, there should a scheme for a regular income.

Justice J.R. Midha asked the bank and insurance companies to formulate a recurring payment plan for motor accident claims.

“Apart from delayed awards, the bulk of money is snatched away by others or even wrongly spent, with the result that after a little while nothing is left. By this process, a regular and safe income shall be ensured,” Mohan said before the court.

The court directed banks and insurance companies to file their response by next week.


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