By Admin 
Pension scheme: After retirement, one has to depend on either savings or pension for passage. In such a situation, there is no problem in getting pension for people or to ensure any pension related problem, the government has decided to set up an forum. The government is working on a regulatory framework for this, which will also include Grivians Redressal Mechanism for redressal of complaints. In the report of The Economic Times, it has been informed about the sources.
Many pension schemes will be included in the forum
An official familiar with the case said, a common regulatory standard is needed for all so that the complaints related to pension are immediately settled. He also informed that in this initiative of the government, various pension schemes are being included under the supervision of different agencies of the central government.
Therefore the Unified Forum is important
Another official said, pension coverage is limited in our country and new products need to be developed. Since the National Pension Scheme (NPS) is voluntary and the salary limit in the Employees Pension Scheme (EPS) under EPFO is Rs 15,000 per month, a large part of the employees is deprived of it.
According to the report, along with increasing coverage in this proposed forum, the existing pension schemes need to be brought under a unified body to simplify their implementation. Officials also informed that the government is also considering the possibilities of bringing a universal pension scheme for all. Finance Minister Nirmala Sitharaman in her budget speech announced the development of many more pension products as well as the formation of a forum for their better coordination.
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