Old Pension Scheme: All the employees’ organizations across the country are raising the demand for restoration of the old pension scheme. At the same time, the old pension scheme has also been re-implemented in Rajasthan, Punjab, Jharkhand, Chhattisgarh and Himachal Pradesh. Meanwhile, the Modi government has taken a big step towards changes in pension.
Old Pension Scheme: All the employees organizations across the country are raising the demand for restoration of the old pension scheme. At the same time, the old pension scheme has also been re-implemented in Rajasthan, Punjab, Jharkhand, Chhattisgarh and Himachal Pradesh. Meanwhile, the Modi government has taken a big step towards changes in pension.
Committee constituted for review
In fact, the government on Thursday appointed Finance Secretary T.V. Announced the formation of a four-member committee under the chairmanship of Somanathan.
No deadline has been fixed for submitting the report.
According to a Finance Ministry notification, the committee will also include Secretary, Personnel, Special Secretary, Personnel and Pension Fund Regulatory and Development Authority (PFRDA) chairman. However, no time limit has been fixed for the committee to submit its report to the government.
Issues related to pension will be resolved
Finance minister Nirmala Sitharaman had announced last month that the panel would constitute a committee headed by the finance secretary to review the NPS. The committee will find a solution to the issues related to pension.
Old pension system is applicable in some states
This step has been taken in the midst of representations received by the government regarding the demand for review of NPS and scope for improvement in it. Employees of many states are demanding changes in the existing pension system. Some states have already reverted to the old pension scheme.
The committee will also seek views from the states
As per the terms of the panel, it will evolve an approach to meet the needs of government employees while maintaining fiscal prudence. The committee will also seek the views of the states and suggest measures to modify or improve the pension benefits for the beneficiaries of NPS.
