Will the government alter the pension system? The Center Creates A Panel: The finance ministry announced on Thursday that the federal government has plans to create a group with representatives to assess the nation’s pension system. It is anticipated that the government will alter the system in some way.
Nirmala Sitharaman, the finance minister, also announced something similar last month. She added that by integrating the various pension plans created by various political parties, the adjustments will be beneficial for both the federal and state governments.
The panel would reportedly be presided over by the finance secretary, T.V. Somanathan, along with three representatives from the pension fund regulatory and development authority and the finance ministry. The panel will likely make a significant announcement after it begins.