7th Pay Commission: Many changes in New Pension Scheme to become official next week!

7th Pay Commission Latest News Today 2019: Indian Public Service Employees Federation president VP Mishra said the government has not changed the name of the pension scheme and has still kept its name as the new pension scheme. However, some improvements have been made in this scheme.

Indian Public Service Employees Federation has said the government has promised to issue the official notification by next week. Reuters

7th Pay Commission Latest News Today 2019: In what can be said to be a great relief for government employees, the central government may issue the notification on new pension scheme (NPS) with added features next week. Earlier, changes to the NPS was announced but no official notification was issued. Indian Public Service Employees Federation president VP Mishra told Zee Business Online that the government has not changed the name of the pension scheme and has still kept its name as the new pension scheme. However, some improvements have been made in the scheme.

According to Mishra, as per the information from the government, employees will get over 50 percent of the last drawn salary as pension under the new pension scheme after retirement. Once in three years, subscribers will be allowed to withdraw some money from various needs.

According to Mishra, earlier employees could withdraw only 40 percent of the money in Tier 2 accounts. Now it has been increased to 60 percent. This money can be withdrawn for children's marriage - education and building of houses.

TRENDING NOW

Employees had demanded from the government to ensure minimum wages to contractual workers in government institutions. At the same time, the staff who have not yet received the benefits of the 7th Pay Commission should get it immediately. They had also demanded increasing the income tax limit to at least Rs 7 lakhs and implementation of the old pension system should be implemented.

Indian Public Service Employees Federation has said the government has promised to issue the official notification by next week. If there is no positive action from the government on the demands of the workers till the end of this month, then the employees will start an agitation from the end of January across the country.

TAGS:

7th Pay Commision