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Udupi, Conference on pension scheme to be held on June 13

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Udupi, Jun 11: Members of the Udupi district unit of the State Government New Pension Scheme Employees Association will organisE a conference here on Sunday to demand that the government give up the New Pension Scheme (NPS) and revert to the old pension scheme.

Addressing presspersons here on Thursday, Raghav Shetty, president of the district unit of association, said that und...

Udupi, Jun 11: Members of the Udupi district unit of the State Government New Pension Scheme Employees Association will organisE a conference here on Sunday to demand that the government give up the New Pension Scheme (NPS) and revert to the old pension scheme.

Addressing presspersons here on Thursday, Raghav Shetty, president of the district unit of association, said that under the NPS, pension money would be invested by mutual fund managers in the stock market and the returns on these investments would be provided as pension to the government employees. But this move was fraught with problems as the stock markets rarely performed uniformly. Hence, they wanted the old system of pension to be continued.

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10-Jun-2016

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