Kerala Govt forms Committee to examine withdrawal of NPS

Kerala Govt forms Committee to examine withdrawal of NPS

The demand for withdrawing NPS is getting more support after the resolution passed by Delhi Legislative Assembly. Now the Govt of Kerala has constituted a committee to examine the proposal of scrapping NPS.

Finance Department – Review of National Pension System in Kerala – Constitution of Committee – Orders issued.

FINANCE (PENSION-A) DEPARTMENT

Read:- G.O.(P) No.172/2018/Fin. Dated, 07.11.2018

Government are pleased to constitute a committee to review the National Pension System implemented vide G.O. read above with the following members.

1. S.Satheesh Chandra Babu, Retired District Judge(Chairman)
2. P.Marapandian, IAS (Retd.)
3. Prof. D.Narayana, Director, GIFT

The terms of reference of the committee is appended herewith. The committee shall submit detailed report within a period of six months.

(By order of the Governor)

Terms of Reference of the Committee

1. To undertake a detailed study on the legal financial and consequences on reviewing the National Pension System and to submit suggestions.

2. To examine how does the review process affects the terms and conditions of Central Finance Commission and the Fiscal consolidation perspectives.

3. To undertake a detailed study on the liabilities and responsibilities occur based on the agreement executed with NPS Trust and NSDL and to suggest the possibilities.

4. If it is decided to withdraw the NPS and implement the statutory pension to the employees

a) How the contribution remitted by the employees till date will be handled?
b) Whether the Government contribution remitted so far get reimbursed?
To examine the above and submit proposal.

5. If it is decided to withdraw NPS and to implement statutory pension, what will be the legal issues regarding those who were already retired after joining the will be the legal issues the contribution remitted by such employees and by Government.

6. To examine the present status experiences and of other states who have already implemented NPS.

7. What are the peculiarities of NPS in Kerala. If there is any objections in reviewing the NPS, how can it be made more attractive?

8. To submit suggestions on other matters that the committee feels relevant in the context of reviewing the National Pension System.

Source: Confederation