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Pension issues addressable: Fin secy
The Morning Standard
|July 26, 2024
Finance secretary TV Somanathan says return to Old Pension System is not feasible
INDIA can't afford to go back to the Old Pension System (OPS), but it is possible to address the core issues raised by government employees without being fiscally imprudent, said finance secretary TV Somanathan, who is also heading the Committee on National Pension System (NPS).
In an interaction with this newspaper, he said the committee had multiple rounds of talks with the states and staff associations, and one conclusion emerging after a lot of financial simulations and calculations with PFRDA (Pension Fund Regulatory Development Authority) is that the return to OPS is not feasible.
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