The New Pension Scheme (NPS) introduced under the New Pension Fund Development and Regulatory Authority (NPFDRA) Act passed by the United Progressive Alliance-II government with the support of the Bharatiya Janata Party will affect the existing pensioners as well as all those who joined the service prior to January 1, 2004, according to M. Krishnan, secretary-general of the Confederation of Central Government Employees (CCGE).
Speaking on ‘New Pension Scheme and its Impact’ on the second day of the two-day First Foundation All India Conference of the All India Postal & RMS Pensioners Association (AIPRPA) here on Sunday, Mr. Krishnan said that the NPS was introduced by the Centre based on the recommendations of the Bhattacharji Committee which stated that the financial position of the Central government employees would be far better at the time of their retirement since they were getting better wages while in service.