Yadav, Pushpender
Civil service pension reforms in India: A theoretical framework - 2015 - p.257-269. - Apr-Jun
Pension is one of the most important forms of social security for civil servants after their retirement. The Government of India has reformed the civil service pension system in 2004. The reasons were financial loss to its exchequer, demographic changes, and breakdown of joint family system in India, particularly in urban and semi-urban areas. The new pension scheme is based on defined contribution scheme unlike the earlier one which was based on defined benefit pension scheme. New pension system is applicable to all the Central civil servants who have joined their respective services in or after 2004. However, it is not applicable to defence forces of the country. For the first time in the country, the pension system is having a pension fund regulatory and development authority which is responsible for supervision, control and appointment of pension fund managers to manage the corpus of pension fund in the country. The philosophy behind these pension reforms is to make the pension system more market-oriented, fiscally viable, reliable, and accountable. - Reproduced.
Pensions - India
Civil service - India
Civil service
Civil service pension reforms in India: A theoretical framework - 2015 - p.257-269. - Apr-Jun
Pension is one of the most important forms of social security for civil servants after their retirement. The Government of India has reformed the civil service pension system in 2004. The reasons were financial loss to its exchequer, demographic changes, and breakdown of joint family system in India, particularly in urban and semi-urban areas. The new pension scheme is based on defined contribution scheme unlike the earlier one which was based on defined benefit pension scheme. New pension system is applicable to all the Central civil servants who have joined their respective services in or after 2004. However, it is not applicable to defence forces of the country. For the first time in the country, the pension system is having a pension fund regulatory and development authority which is responsible for supervision, control and appointment of pension fund managers to manage the corpus of pension fund in the country. The philosophy behind these pension reforms is to make the pension system more market-oriented, fiscally viable, reliable, and accountable. - Reproduced.
Pensions - India
Civil service - India
Civil service