After retirement,life depends either on savings or a pension. In such a situation,the government has decided to create a platform so that people do not have any problem getting pensions or any pension-related problems. The government is working on a regulatory structure for this,which will also include a grievance redressal mechanism to redress complaints. Are you also troubled by pension-related problems? So let us know how beneficial this new step of the government is for you.
Quick resolution of pension complaints
An official familiar with the matter said,“A common regulatory standard for all is necessary for quick resolution of pension complaints.” He also informed that in this initiative of the government,the inclusion of various pension schemes under the supervision of various agencies of the central government is also being considered.
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Know the plan to increase coverage
Since the National Pension Scheme (NPS) is voluntary and the salary limit in the Employees’ Pension Scheme (EPS) under the EPFO is Rs 15,000 per month,a large section of employees is deprived of it.”
According to the report,this proposed platform needs to be brought under a unified body to increase coverage as well as simplify their implementation. Officials have also now informed that the government is also considering the all possibilities of bringing the universal pension scheme for all.
This move of the government is a big relief for pensioners
Finance Minister Nirmala Sitharaman in her budget speech announced the development of many more pension products as well as the formation of a platform for their better coordination.
This move of the government is a big relief for pensioners. The unified platform and universal pension schemes will not only solve pension related problems but will also increase pension coverage. This move will provide financial security to people after retirement. This effort of the government is a new beginning,which will strengthen pension security.
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