OPS row: Four-member panel to look into pension of presidency workers
2 min readBy Express News Service
NEW DELHI: With authorities staff renewing their agitation for the restoration of the Old Pension Scheme and the equivalent turning right into a political scenario ahead of the 2024 Lok Sabha elections, the Centre has common a four-member panel to deal with their grievances in regards to the New Pension System (NPS).
The committee will look into the need for modifications throughout the present framework of the NPS, and advocate modifications preserving in ideas the fiscal implications and budgetary constraints. It may additionally search the recommendation of with state governments sooner than arriving at any recommendations.
According to the Centre, NPS is fiscally additional prudent. The four-member panel may be headed by finance secretary T V Somanathan. Chairman of the Pension Fund Regulatory and Development Authority; secretary, Ministry of Personnel; and specific secretary (personnel), Dept of Expenditure could be the totally different members.
Finance Minister Nirmala Sitharaman had these days suggested Parliament {{that a}} committee beneath the Union finance secretary may be common. The switch comes at a time when authorities staff, along with in states dominated by the BJP, have launched an agitation in favour of the restoration of the Old Pension System.
Why outdated is gold
Under the outdated pension scheme, moreover known as the outlined revenue pension, the vast majority of the contribution within the route of pension accounts comes from the federal authorities. In the New Pension Scheme, the pension amount is about based on the contribution of the employees
NEW DELHI: With authorities staff renewing their agitation for the restoration of the Old Pension Scheme and the equivalent turning right into a political scenario ahead of the 2024 Lok Sabha elections, the Centre has common a four-member panel to deal with their grievances in regards to the New Pension System (NPS).
The committee will look into the need for modifications throughout the present framework of the NPS, and advocate modifications preserving in ideas the fiscal implications and budgetary constraints. It may additionally search the recommendation of with state governments sooner than arriving at any recommendations.
According to the Centre, NPS is fiscally additional prudent. The four-member panel may be headed by finance secretary T V Somanathan. Chairman of the Pension Fund Regulatory and Development Authority; secretary, Ministry of Personnel; and specific secretary (personnel), Dept of Expenditure could be the totally different members. googletag.cmd.push(function() googletag.present(‘div-gpt-ad-8052921-2’); );
Finance Minister Nirmala Sitharaman had these days suggested Parliament {{that a}} committee beneath the Union finance secretary may be common. The switch comes at a time when authorities staff, along with in states dominated by the BJP, have launched an agitation in favour of the restoration of the Old Pension System.
Why outdated is gold
Under the outdated pension scheme, moreover known as the outlined revenue pension, the vast majority of the contribution within the route of pension accounts comes from the federal authorities. In the New Pension Scheme, the pension amount is about based on the contribution of the employees
