Kerala New Pension Plan Confusing

3 April 2013
Thiruvananthapuram

With the implementation of participatory pension for those employees who are being appointed from April 1 this year, Kerala is going to have two categories of employees in its civil service. But the government has not made any clarification regarding the minimum pension and service tenure of the employees who got appointed from the same list.

It has been pointed out that the government has to find resources for paying the government share of 10 per cent of the basic pay and DA of the employees for the participatory pension. Also, there has been no clarity on the fund managers of the new pension scheme. It is not clear that whether the government share and the employees’ share would be remitted at the government treasury or invested with private players in the sector.

At the same time, the employees who got appointed from the same list would be placed in two categories of pension schemes – statutory and contributory.

Source – http://newindianexpress.com/states/kerala/article1526796.ece

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