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On the Pension Bill

On Thursday, the government was forced to defer a decision on the pension bill following objections raised by some UPA allies. Here's a look at the provisions of the bill: 

What is the pension bill? 

The Pension Fund Regulatory and Development Authority (PFRDA) Bill 2011 is usually referred to as the pension bill. It was introduced in the Lok Sabhaon March 24 last year and was subsequently referred to the standing committee on finance for a detailed examination. 

The government had introduced a similar bill in 2005 but it had lapsed as the term of the 14th Lok Sabha expired before it could be passed.