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Govt may amend pension scheme
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₹2.34 trillion. What makes the old pension scheme adopted by many states politically attractive is that it offers an assured benefit to the retiree, fixed at 50% of the last drawn basic pay.
Also, like their salaries, pensions under the old scheme are routinely hiked to account for rising inflation. Ghosh’s research showed that pension liabilities of states over the long term have spiked.
The compounded annual growth in pension liabilities for the 12-year period ended 2021-22 was 34% for all state governments. As of 2020-21, the pension outgo as a percentage of revenue receipts stood at 13.2%, Ghosh’s research showed."Exciting news! Mint is now on WhatsApp Channels
. Read more on livemint.comAbout this in other media
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Dearness relief (DR) hiked by 4% for Central Govt pensioners, family pensioners: Who are eligible, when will they get it? Govt answers economictimes.indiatimes.com /6 months ago
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