Committee established by Finance Ministry to review pension system for government employees PDF

An Office Memorandum has been issued by the Department of Expenditure, Ministry of Finance, Government of India on 6th April 2023, announcing the establishment of a committee to review the pension system for government employees. The Finance Secretary will head the Committee, which will evaluate the National Pension System for government employees and recommend any necessary modifications to improve pensionary benefits while maintaining financial prudence. The Committee may include any Central Government officer as needed and will develop its own procedure and mechanism, including consultation with States, to formulate its recommendations. The Personnel Division of the Department of Expenditure will provide secretarial support to the Committee.

Finance Ministry sets up committee to review government employee pension system

No.1(4)/E-V/2023
Government of India
Ministry of Finance
Department of Expenditure

North Block, New Delhi,
6th April, 2023

OFFICE MEMORANDUM

Subject: Setting up of a Committee to review the Pension System for Government Employees.

The undersigned is directed to invite attention to the announcement made by the Finance Minister in Lok Sabha on 24.3.2023 to, inter-alia, set up a Committee under the Finance Secretary to look into the issue of pensions under the National Pension System in respect of Government employees and evolve an approach which addresses the needs of the employees while maintaining fiscal prudence to protect the common citizens.

• The Terms of Reference of the Committee shall be as under:

i. Whether in the light of the existing framework and structure of the National Pension System, as applicable to Government employees, any changes therein are warranted;

ii. If so, to suggest such measures as are appropriate to modify the same with a view to improving upon the pensionary benefits of Government employees covered under the National Pension System, keeping in view the fiscal implications and impact on overall budgetary space, so that fiscal prudence is maintained to protect the common citizens

• The Committee may also co-opt any officer of the Central Government as part of its deliberations, whenever such a need is felt by the Committee.

• The Committee shall devise its own procedure and mechanism, including consultation with States etc., to arrive at its recommendations.
• Department of Expenditure (Personnel Division) will provide Secretarial assistance to the Committee.

(Annie G. Mathew)
Special Secretary to the Government of India

Source: www.doe.gov.in