Old pension scheme's burden 4.5x of new system

According to a study conducted by the Reserve Bank of India (RBI), the old pension scheme is 4.5 times more expensive than the existing National Pension Scheme (NPS).

- 

The study found that the cost of providing pension benefits under the old scheme is significantly higher due to factors such as higher contribution rates and longer service periods. The study also highlighted the financial burden that the old pension scheme places on the government, as it requires a larger budget allocation for pension payments. In contrast, the NPS is a more cost-effective option as it allows for greater flexibility in investment choices and provides better returns on contributions. The findings of the study support the government's decision to shift from the old pension scheme to the NPS, which was introduced in 20