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You are here: Home / Pension / Central Government Rejects the Demand to Scrap National Pension System

Central Government Rejects the Demand to Scrap National Pension System

September 26, 2018 by admin Leave a Comment

Central Government Rejects the Demand to Scrap National Pension System

Abolition of Contributory Pension Scheme

Representations have been received from various Associations of Government Employees on the problems being faced and the demand to withdraw the National Pension System (NPS). The 7th Central Pay Commission (CPC) also in its report examined the issues related to NPS and made recommendations for addressing these issues.

Pursuant thereto, it was decided to constitute a Committee of Secretaries to suggest measures for streamlining NPS. The Committee has submitted its report. Due to rising and unsustainable pension bill and keeping in view of fiscal imperatives, it is not possible for the government to revert back to old pension scheme.

This information was provided by the Minister of State in the Ministry of Finance Shri. Shiv Pratap Shukla in written reply to a question in Rajya Sabha on 24.7.2018.

Source: Confederation

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Filed Under: Pension Tagged With: 7th Central Pay Commission, 7th CPC, Central Government Employees, Contributory Pension Scheme, National Pension System, NPS, OPS to NPS

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