New Delhi: The Finance Ministry has notified the formation of a committee to review the pension system for government employees under National Pension System (NPS).
In a notification yesterday, the Finance Ministry directed the committee to evolve an approach which addresses the needs of the employees while maintaining fiscal prudence to protect the common citizens.
However, the order does not specify a deadline for the panel. The four-member committee will be led by Finance Secretary T.V. Somanathan.
Finance Minister Nirmala Sitharaman told the Lok Sabha on 24th of last month that the approach developed by the committee would apply to the Centre as well as the States.