User Login Signup Now
Username :
Password    :
Forgot Password?

New pension system to be offered to more segments

Chennai, July 2

Expressing satisfaction over pension sector reforms, the government in its Economic Survey 2008-09 has said the new pension system (NPS) will be offered to more segments.

"Efforts are underway to extend the NPS to new segments (autonomous bodies, state governments and unorganised sector) and introducing micro-pension initiatives," said the survey tabled in parliament Thursday.

"NPS has been well received by the state governments. Twenty-one state governments have notified similar schemes for their new recruits," it added.

According to the survey, the appointed pension fund managers and the Central Recordkeeping Agency (CRA) have been in talks with the states and union territories for facilitating their entry into the NPS.

As of date, CRA has signed agreements with six state governments.

With the central governments last year deciding to extend NPS to all citizens, the Pension Fund Regulatory and Development Authority will roll out the scheme this fiscal, the Economic Survey noted.

As part of this exercise, the regulator appointed six pension fund managers and 22 points of presence for handling NPS contributions.

Tier-I of the NPS constituting the non-withdrawable pension account has become operational from May 1, and tier-II or the withdrawable account will become operational in about six months.

Last updated on Jul 2nd, 2009 at 16:37 pm IST--IANS


Possibly related news:
Enter Your Name and Email below and Post your comment
NameEmail:
Comment:
News Search

Other News Headlines

Badal asks centre for additional power for Punjab
Chandigarh, Nov 7

Faced with power shortage in the state, Chief Minister Parkash Singh Badal Saturday urged the central government to allot at least 250 MW of additional power to Punjab during the Rabi (winter) season, officials said.

Rural micro insurance scheme launched
New Delhi, Nov 7

The government Saturday launched a micro insurance drive in Tamil Nadu aimed at expanding the Rural Postal Life Insurance (PLI) network.

British PM revives global tax idea at G20 meet
London, Nov 7

British Prime Minister Gordon Brown Saturday resurrected the idea of the international community imposing a global tax on banks as a repayment for the billions of pounds of taxpayers' money they have received from governments.

Food prices to decline after winter crop: Sharad Pawar
Bangalore, Nov 7

Food prices will decline after the rabi crop as production of wheat, rice, pulses, oil seeds and sugarcane during the winter is expected to be higher than in the drought-hit kharif season, union Agriculture Minister Sharad Pawar said Saturday.

Ajit Singh threatens to lay siege to parliament over sugarcane pricing
New Delhi, Nov 7

Rashtriya Lok Dal (RLD) chief Ajit Singh, who is spearheading a campaign against the central government's sugarcane pricing policy, said Saturday that the Communist Party of India-Marxist (CPI-M) and Samajwadi Party had offered their support to the farmers' cause.

Recently Commented Articles

Zee TV synopsis- Saregamapa Mega challenge
I am nuruzzaman from bangladesh.I like AMIR and AMIRs songs. I will meet him in a day. pls give me...
nuruzzaman on 07/11/09 at 10:34 pm

Zee TV synopsis- Saregamapa Mega challenge
amir hafiz is my favourite singer and i love him very much.
nuruzzaman on 07/11/09 at 10:29 pm

Sun TV Network to launch new game show
the show is very thrilling .i also want to be a part of this game.what is the procedure
divya on 07/11/09 at 10:07 pm

Sun TV Network to launch new game show
I Sukanya ,32 years old house wife. I have interest to participate in deal or no deal.plz suggest...
SUKANYA M C on 07/11/09 at 10:04 pm

Sun TV Network to launch new game show
hello sir , i am pradeep i like to participate this show plz helpe me how mu mob no...
pradeep kumar j on 07/11/09 at 03:54 pm

Latest Forum Topics

Triple Filter Test
[COLOR=Navy]hey bindu, you are a big source of great stories. And this one i would rate 5 out of 5!...
06/11/09 at 12:44 pm< | 1 Comment(s)

How Santa Looks in the Mirror
[quote=Rahulr;3597]I'm just curious. Your name is Shalini Singh and you are posting Sardar Jokes???...
05/11/09 at 09:40 pm< | 3 Comment(s)

Local train journey – first experience
[quote]Once the bus starts moving the driver will apply sudden break once or twice and there will...
05/11/09 at 09:36 pm< | 4 Comment(s)

Portrait of a friend
[FONT="Arial"]I can't give solutions to all of life's problems, doubts, or fears. But I can...
05/11/09 at 05:54 pm< | 0 Comment(s)

Hope
[FONT="Arial"]Humans can live without food for forty days, without water for about three days, and...
05/11/09 at 05:51 pm< | 0 Comment(s)

crazy Windows
[FONT=Georgia][COLOR=Navy]Not sure if you've seen this...
05/11/09 at 12:39 pm< | 6 Comment(s)

Scientists develop rice that requires no cooking
[COLOR="Navy"]Nice share Sarkar, thanks............[/COLOR]
05/11/09 at 12:30 pm< | 3 Comment(s)

Change 1 Letter..
Nail -> Mail Is rearranging the letters allowed?
05/11/09 at 12:29 pm< | 118 Comment(s)