Shipping Ministry has signed a new wage agreement benefiting one lakh 35 thousand port and dock workers and pensioners. The agreement was signed by Shipping Ministry, port officials and workers federation in Mumbai yesterday. <br />''<br />''<br />''The new pact will provide 10.6 per cent wage hike to workers and pensioners. The wage settlement covers Group C and D employees benefiting at least 32,000 workers and 1 lakh pensioners in 12 major ports across the country. <br />''<br />''<br />''<span style="color: #222222;">The workers and pensioners will get this benefit for a period of five-years, beginning January 2017. The total financial implication of the settlement for all the major ports for serving and pensioners is likely to be about 560 crore rupees per annum.</span>