The Hindu : Central pension scheme from January

Online edition of India's National Newspaper
Sunday, Dec 21, 2003

National

National

Central pension scheme from January

By Our Special Correspondent

NEW DELHI DEC. 20. The new pension scheme for Government employees will start from January one next year, with the Union Finance Ministry putting in place an interim Pension Fund Regulatory and Development Authority (PFRDA).

The Additional Secretary in Economic Affairs Department, Vinod Rai, will hold the additional charge of the Chairman of interim PFRDA, the Finance Secretary, D.C. Gupta said.

While the pension scheme will be implemented from January next year, the appointment of the Central Record-keeping Agency (CRA) and fund managers would be appointed later, he said.

To start with, the pension scheme would benefit about 1,00,000 Government employees.

The Government would allow private companies and self-employed to be part of the scheme, after the CRA and fund managers are appointed.

The main regulator would be set up after Government enacts legislation as was done in the case for SEBI and Insurance Regulatory and Development Authority (IRDA).

Printer friendly page
Send this article to Friends by E-Mail

National