No abalish NPS - FM LOK SABHA
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES
LOK SABHA UN STARRED QUESTION NO. 3569 TO BE ANSWERED ON JULY 15, 2019/ /ASHADHA 24, 1941 (SAKA) RESTORATION OF OLD PENSION SCHEME
Shri Rakesh Singh Shri Rodmal Nagar
Will the Minister of FINANCE be pleased to state
whether the demand is being made by trade unions/Government employees to restore the old pension scheme for the Central Government employees as the pension amount is lower and
uncertain under the new pension scheme which was implemented in the year 2004;
if so, whether the Government is considering the aforesaid demand of the employees; and
if so, the details thereof and if not, the reasons therefor?
ANSWER
The Minister of State (Finance) (Shri Anurag Singh Thakur)
Yes, Sir.
and (c) Due to rising and unsustainable pension bill, the Government had made a conscious move to shift from the defined benefit, pay-as-you-go pension scheme to defined contribution pension scheme now called as
National Pension System (NPS). The transition also helped in freeing the limited resources of the Government for more productive and socio- economic sectoral development.
There is no proposal to replace the NPS with old pension scheme m respect of Central Government employees recruited on or after 01.01.2004
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