GoI Clarification on NEW PENSION SCHEME

Government has started a co-contributory Pension Scheme called “Swavalamban” from 2010-11 onwards under which Government contribute Rs. 1,000/- per annum for each New Pension System opened with the minimum contribution of Rs. 1,000/- per annum.

GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT
LOK SABHA

UNSTARRED QUESTION NO 206 – ANSWERED ON 01.08.2011

NEW PENSION SCHEME

206 . Shri MADHU GOUD YASKHI

EKNATH MAHADEO GAIKWAD
KHATGAONKAR PATIL BHASKARRAO BAPURAO

Will the Minister of LABOUR AND EMPLOYMENT be pleased to state:-
(a) whether the Government has come across constraints to attract the unorganized sector workers under the New Pension Scheme;
(b) if so, the details thereof and the reasons therefor;
(c) whether the Government has received the Bajpai Committee report in this regard;
(d) if so, the details of the recommendations/suggestions made by this Committee;
(e) whether the Government has accepted the recommendations; and
(f) if so, the details thereof and if not, the reasons therefor?

ANSWER

MINISTER OF THE STATE IN THE MINISTRY OF LABOUR AND EMPLOYMENT (SHRI MALLIKARJUN KHARGE)
(a) & (b): The Government has not come across any constraint to attract the unorganized sector workers under the New Pension System (NPS). However, to encourage workers from the Unorganized Sector, Government has started a co-contributory Pension Scheme called “Swavalamban” from 2010-11 onwards under which Government contribute Rs. 1,000/- per annum for each New Pension System opened with the minimum contribution of Rs. 1,000/- per annum.
(c) to (f): The report of Bajpai Committee was received in July, 2011 and is under examination.
Source: http://loksabha.nic.in/