Govt, workers thrash out key issues in new pension scheme
Representatives of the government and its employees have reached a consensus on the contentious pension issue, addressing concerns about post-retirement benefits without reverting to the old pension scheme, according to two people familiar with the matter. “After working out the finer details, the committee will submit its report to the government soon.” The resolution addresses three core apprehensions of employees, according to a second person. The government formed a committee on April 6, 2023, chaired by finance secretary TV Somanathan, to review the National Pension System introduced for state and federal employees from April 1, 2004. Union finance minister Nirmala Sitharaman addressed the pension issue in her budget speech on July 23, stating, “The Committee to review the NPS has made considerable progress in its work.
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