Last Updated: April 07, 2023, 10:54 IST
Pension Syatem Will be Reviewed
The Indian authorities has shaped a panel to assessment the nation’s pension system and talk about whether or not modifications are warranted, the finance ministry mentioned on Thursday
The Indian authorities has shaped a panel to assessment the nation’s pension system and talk about whether or not modifications are warranted, the finance ministry mentioned on Thursday.
Finance Minister Nirmala Sitharaman introduced final month that the federal government would think about modifications to the nation’s pension system to be utilized by each the federal and all state governments, in search of to unify the totally different schemes adopted by the nation’s ruling and opposition political events.
The panel might be chaired by the finance secretary, TV Somanathan, and the three others on the panel would be the chairman of the Pension Fund Regulatory and Development Authority, one other senior official from the finance ministry and a senior official from the ministry liable for pensions, the finance ministry mentioned in an announcement.
Debate over the nation’s present pension scheme adopted in 2004 has picked up after a number of Indian states determined to transfer again to an earlier system the place the pension burden falls fully on the federal government with no contribution required from workers.
This has been seen as a threat to authorities funds, prompting the federal authorities to provoke a assessment.
No timeline has been specified for the panel to submit its report.
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