New Delhi: The Center on Thursday set up a four-member committee to review the National Pension Scheme (also known as the New Pension Scheme), announcing changes to the defined contribution scheme introduced for all new hires in India. Suggest whether it is necessary or not. Government since 2004.
The Commission is also tasked with proposing amendments, where appropriate, to improve pension benefits for civil servants, while considering their impact and impact on the overall budgetary space to protect citizens. ensure that financial prudence is maintained for
Finance Minister recently Nirmala Sitharaman announced a revision of NPS According to a panel headed by Finance Secretary TV Somanathan. In addition, the Secretaries (Human Resources and Training), the Chairman of the Pension Fund Regulation and Development Department, and the Special Secretary of the Expenditures Department will be members of the Committee. No time frame was provided for the review to be completed.
The Center’s decision follows that of the opposition-dominated Chhattisgarh state. Rajasthan, Himachal Pradesh, Jharkhand and Punjab should return to the old pension schemes which are defined benefit schemes. This provides him 50% of his final salary adjusted for inflation, with no contributions by the employee. NPS is dependent on the employee contributing 10% of him and an equal or greater contribution by the employer.
Employees in some states, and some unions in centers such as railroads, support calls to return to OPS because they do not have to pay pensions and their take-home salaries have increased.
Government officials and experts believe that OPS is unsustainable and that a return to the old regime would jeopardize the state’s fiscal situation for future short-term gains as these states do not need to contribute. claims to be exposed.
It currently has nearly 8.5 million subscribers, of which more than 60 million are from the state, with total assets under management of over Rs 6.8 lakh. Since its inception, the rate of return for central government employees has exceeded 9.2% and the rate of return for state government employees has exceeded 9.1%.
The Commission is also tasked with proposing amendments, where appropriate, to improve pension benefits for civil servants, while considering their impact and impact on the overall budgetary space to protect citizens. ensure that financial prudence is maintained for
Finance Minister recently Nirmala Sitharaman announced a revision of NPS According to a panel headed by Finance Secretary TV Somanathan. In addition, the Secretaries (Human Resources and Training), the Chairman of the Pension Fund Regulation and Development Department, and the Special Secretary of the Expenditures Department will be members of the Committee. No time frame was provided for the review to be completed.
The Center’s decision follows that of the opposition-dominated Chhattisgarh state. Rajasthan, Himachal Pradesh, Jharkhand and Punjab should return to the old pension schemes which are defined benefit schemes. This provides him 50% of his final salary adjusted for inflation, with no contributions by the employee. NPS is dependent on the employee contributing 10% of him and an equal or greater contribution by the employer.
Employees in some states, and some unions in centers such as railroads, support calls to return to OPS because they do not have to pay pensions and their take-home salaries have increased.
Government officials and experts believe that OPS is unsustainable and that a return to the old regime would jeopardize the state’s fiscal situation for future short-term gains as these states do not need to contribute. claims to be exposed.
It currently has nearly 8.5 million subscribers, of which more than 60 million are from the state, with total assets under management of over Rs 6.8 lakh. Since its inception, the rate of return for central government employees has exceeded 9.2% and the rate of return for state government employees has exceeded 9.1%.
