Staff association to hold conference on pension scheme

Staff association to hold conference on pension scheme

Mangalore Today News Network

Mangaluru, June 10, 2016: Members of the Udupi district unit of the State Government New Pension Scheme Employees Association are all set to organise a conference here on June 12, Sunday to demand that the government give up the NPS, New Pension Scheme and revert to the old pension scheme.

Addressing media here on June 9, 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.