Who has announced the government has established a committee to review the New Pension System (NPS)?

Daily Current Affairs

J. P. Nadda

Droupadi Murmu

Nirmala Sitharaman

Smriti Irani

Correct Answer : Nirmala Sitharaman

Finance minister Nirmala Sitharaman on Friday (24th March 2023) announced the establishment of a committee to review the New Pension System (NPY) amid demands from a section of employees and the decision by some opposition-governed states to revert to the old pension scheme, which offers 50% of the last pay drawn by government employees as pension.

* The panel, headed by finance secretary TV Somanathan, will “evolve an approach which addresses needs of employees while maintaining fiscal prudence to protect common citizens,” the minister told the Lok Sabha as she moved 64 amendments to the Finance Bill.

* From January 2004, the government has opted to move to NPS for all new recruits, with the government employees contributing 10% of their salary towards pension and the govt making a matching contribution.

* Recently, Rajasthan, Chhattisgarh, Jharkhand, HP, and Punjab have decided to opt out of NPS..

Source : Times of India

Published On : March 26, 2023

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