Centre rules out reports of changes in the existing National Pension System

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New Delhi, June 22: The Center has rejected media reports about possible changes to the existing National Pension System (NPS) for government employees, saying a committee headed by the finance secretary is currently in the process of consulting stakeholders to review it. The committee has yet to finalise its report.

The Finance Ministry tweeted on Thursday that the Somanathan committee is in the process of consulting with relevant stakeholders. This committee has not yet reached any conclusions.

The Finance Ministry constituted a committee under the chairmanship of Finance Secretary T.V. Somanathan in April to review the pension scheme for government employees and suggest changes needed in the current design and structure of the National Pension System (NPS). Was.

The committee, headed by the Finance Secretary, includes the Secretary, Department of Personnel and Training, Special Secretary, Department of Expenditure, and Chairman, Pension Fund Regulatory and Development Authority (PFRDA) as members.

During the last few months, the opposition-ruled state governments of Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh have decided to implement the ‘Old Pension Scheme’ (OPS).

These states have informed the central government about their decision to implement OPS and have requested that the amount deposited under NPS be returned. NPS is made applicable to all government employees except Armed Forces employees who join the Central Government after January 2004.