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Our Bureau

New Delhi , Aug. 28

WHILE the broad outline for the new pension structure of the country has been made public, uncertainty prevails over the date from which the proposed scheme would become applicable to the new recruits into Government service.

Though several dates on the initiation of the scheme have been doing the rounds - ranging from October 1, 2002 and January 1, 2004 - ever since the Union Cabinet cleared the pension plan on August 23, the fact is that the Government is yet to finalise a formal date from which the proposed new scheme would become effective.

"We have not yet fixed any date from which the new scheme would become operational," top Finance Ministry officials said. However, it appears unlikely that the pension scheme would be made applicable to recruits joining before the date of its formal launch.

With a lot of groundwork to be done before the first subscribers are invited to join the new order, it appears that the Government would not be inclined to announce a very sharp date for making the scheme applicable to the new recruits. The process would start with the Government notifying the setting up of the interim regulator — the Pension Fund Regulatory and Development Authority (PFRDA) — and appoint its Chairman and members.

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Pension scheme launch date not finalised

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