The employees would be required to contribute 10 per cent of their pay and dearness allowance to the pension fund. The government would also make a contribution to the fund.
The government has issued orders approving, in principle, the proposed contributory pension plan for government employees. The plan is proposed to apply to new recruits joining service from next year.
The employees would be required to contribute 10 per cent of their pay and dearness allowance to the pension fund. The government would also make a contribution to the fund.
Pensions would be available to employees who contribute to the fund for a specified number of years. Payment of full pension by government would be discontinued.
