Cut salaries but not pensions, says U.S. judge - The Hindu

Cut salaries but not pensions, says U.S. judge - The Hindu

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Will PFRDA commission a study to find out whether National Pension System will meet the objective of providing post-retirement security to the 88 per cent of India's workforce whose case was highlighted as the reason to introduce NPS(Ref: Facing the Future: Indian Pension Systems, Report of the team comprising experts from ING and IIM-B, 2007)? If not GOI should show the magnanimity to restore the Pension System it has denied to a section of its employees from 2004.
Other reasons for the denial were 'saving costs', which will start happening 30 years later. States which were forced to introduce NPS have started backing out and those who are 'covered' by NPS in states like Karnataka are left without any avenue for retirement savings. In Kerala those who are covered by NPS are denied the opportunity to join General Providend Fund Scheme of the state government also.

from:  M G WARRIER
Posted on: Dec 26, 2013 at 05:57 IST

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