Showing posts with label Lok Sabha.. Show all posts
Showing posts with label Lok Sabha.. Show all posts

Sunday, March 27, 2016

Removal of NPS: No proposal with Government

On reply of Unstarred question in Loksabha, Government stated that there is no proposal under consideration to replace the National Pension System (NPS) with old pension scheme in respect of Central Government employees recruited on or after 01.01.2004.

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

LOK SABHA

UNSTARRED QUESTION NO: 1524

ANSWERED ON: 04.03.2016

Replacement of New Pension Scheme


SUKHBIR SINGH JAUNPURIA
Will the Minister of FINANCE be pleased to state:-

(a) whether the Government proposes to replace the New Pension Scheme (NPS) with old pension scheme; and

(b) if so, the details thereof and the reasons therefor?

ANSWER

The Minister of State in the Ministry of Finance 

(a) & (b) there is no proposal under consideration to replace the National Pension System (NPS) with old pension scheme in respect of Central Government employees recruited on or after 01.01.2004.

Wednesday, September 4, 2013

Lok Sabha Passes Pension Fund Regulatory and Development Authority Bill, 2011 with official amendments



The Pension Fund Regulatory and Development Authority Bill (PFRDA), 2011 was passed by the Lok Sabha today with official amendments. It was earlier introduced in Lok Sabha on the 24th March, 2011 to provide for a statutory regulatory body the Pension Fund Regulatory and Development Authority (PFRDA) under the provisions of the Bill. The legislation seeks to empower PFRDA to regulate the New Pension System (NPS).

The PFRDA Bill, 2011 was referred to the Standing Committee on Finance on the 29th March, 2011 for examination and report thereon. The Standing Committee on Finance gave its Report on 30th August, 2011. Some of the key amendments incorporated in the Bill based on the recommendations of the Standing Committee on Finance are as follows: