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Govt. may consider to reintroduce old pension system


27 Jul, 2018 1:14p.m.

The central government may consider to reintroduce old pension system and to bid adieu New Pension Scheme (NPS) for its employees.

A top finance ministry official said that the government would consider reintroducing old pension system and to scrap the NPS.

“The government is looking into the matter. It is difficult to re-implement the old pension system instead of NPS due to financial constraints but the government must prevent discrimination between the employees covered old pension and the employees, who are covered NPS,” he said on Tuesday.

“The larger federations and associations of central government employees advocate scrapping the NPS on the ground that it discriminates between two sets of government employees,” he added.

“The central government employees associations have complained that after death of an employee, is not ensured in the NPS. More, if an employee dies at an early age, the family would suffer, since annuity from the contribution would be grossly inadequate,” he revealed.

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