Defined contribution plan Current Affairs, GK & News

Central Government contribution in National Pension Scheme (NPS) raises to 14%

The Union Cabinet has recently raised the government’s contribution to National Pension Scheme (NPS) to 14% of basic salary from the current 10%. However, minimum employee contribution will remain at 10%. The Cabinet also allowed government employees to commute 60% of the fund accumulated at the time of retirement, up from 40% at present. Also, ..