Government Press Release | India
National Pension System (NPS) has been designed giving utmost importance to the welfare of the subscribers. The government has made a conscious move to shift from the defined benefit Pension Scheme to defined contribution pension scheme i.e. NPS, due to the rising and unsustainable pension bill.
There are a number of benefits available to the employees under NPS. Some of the benefits are enlisted below:
Representations have been received which inter alia also include the demand that the Government may revert to old defined benefit pension system.
However, due to rising and unsustainable pension bill and competing claims on the fiscal, there is no proposal to replace the NPS with old pension scheme in respect of Central Government employees recruited on or after 01.01.2004.
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