Pension Update: Changes in the new pension system may be announced in the interim budget. The report of the committee formed to review the pension system is going to come soon.
A big news is coming related to crores of pensioners across the country. There may be a big announcement regarding changes in the new pension system. This announcement can be made in the interim budget to be presented on February 1.
Sources say that the committee formed to review the pension system can recommend giving pension to the employee to the extent of about 45-50% of the last salary received on retirement without putting any burden on the government.
The report of the committee formed to review the pension system is going to come soon. According to the information received, fixed pension will be guaranteed through Viability Gap Funding. The shortfall in annuity will be met by the central and state governments together.
Also, the cost of living will be adjusted according to inflation. The committee will also take care that unnecessary financial burden is not placed on the government. Based on the report of the committee, the PFRDA Act will be amended in the full budget to be presented in July.
Earlier in the report it was said that pensioners may have to wait a long time for the changes in the new pension system. The government is in no hurry to make NPS attractive.
