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    Monday, 30 July 2018

    WITHDRAW CONTRIBUTORY PENSION SCHEMES- IT IS NOT POSSIBLE TO REVERT BACK TO OLD PENSION SCHEME- GOVT REPLY

    Withdraw Contributory Pension Schemes- it is not possible to revert back to old pension scheme- Govt Reply

    GOVERNMENT OF INDIA
    MINISTRY OF FINANCE
    DEPARTMENT OF FINANCIAL SERVICES

    RAJYA SABHA
    UN STARRED QUESTION NO.710
    TO BE ANSWERED ON JULY 24, 2018/SHRAVANA 2, 1940 (SAKA) 

    ABOLITION OF CONTRIBUTORY PENSION SCHEMES

    710. Shri Dharmapuri Srinivas

    Will the Minister of FINANCE be pleased to state:

    whether the attention of Government is drawn to the matter of Contributory Pension Scheme and problems being faced by the employees;

    if so, the details thereof; 

    whether a number of requests from State Governments and Government employees have been received by Government to withdraw the CPS System, the status of such requests; and 

    whether Government is planning to resolve the matter and abolish the CPS System in view of the problems being faced by the employees?

    ANSWER
    The Minister of State in the Ministry of Finance 
    (Shri Shiv Pratap Shukla)

    (a) to (d) Yes Sir. Representations have been received from various Associations of Government Employees on the problems being faced and the demand to withdraw the National Pension System (NPS). The 7th Central Pay Commission (CPC) also in its report examined the issues related to NPS and made recommendations for addressing these issues. Pursuant thereto, it was decided to constitute a Committee of Secretaries to suggest measures for streamlining NPS. The Committee has submitted its report. Due to rising and unsustainable pension bill and keeping in view of fiscal imperatives, it is not possible for the government to revert back to old pension scheme.

    English VERSION    Hindi VERSION

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