Govt will set up a committee to review pension scheme: FM tells Parliament

Finance minister Nirmala Sitharaman on Friday announced that the Centre would set up a committee to review the National Pension Scheme (NPS) under the chairmanship of the finance secretary. The committee will come up with a solution to the issue of pensions.

"Representations have been received that the National Pension System for government employees needs to be improved. I propose to set up a committee under the finance secretary to look into the issue of pensions and evolve an approach which addresses the needs of the employees while maintaining fiscal prudence," she said while addressing the Lok Sabha.

"The approach will be designed for adoption by both central and state governments," she added.