18-July-2024
Markets and Finance
 
Centre may guarantee 50% of last pay as pension under NPS: Report
10-Jul-2024

Central government employees covered under the National Pension System (NPS) may soon be assured of 50 percent of their last drawn pay as pension, as the government works towards addressing concerns over payout disparities, according to a report by The Times of India. Finance Minister Nirmala Sitharaman's announcement led to the formation of a committee chaired by Finance Secretary TV Somanathan to explore this initiative. Despite ruling out a return to the Old Pension Scheme (OPS), the government aims to provide a level of comfort, especially as opposition parties pitch for reversing the earlier decision.

News Source:- https://www.moneycontrol.com/news/economy/policy/centre-may-guarantee-50-of-last-pay-as-pension-under-nps-report-12765699.html