Revising NPS contribution welcome move, but we stand by our demand for guaranteed pension: Rly union

The All India Railwaysmen's Federation has welcomed the government's move to increase its contribution to the NPS for central government staff, but said it was still pushing for a scheme that would ensure guaranteed pension.

Finance Minister Arun Jaitley Monday said the Centre has decided to increase its contribution to the NPS for the central government employees to 14 per cent from the current 10 per cent and also made the entire withdrawal amount tax-free at the time of retirement. The minimum employee contribution stands at 10 per cent.

The decision was taken at the Union Cabinet meeting last week.

The general secretary of All India Railwaysmen's Federation, Shiv Gopal Mishra, said, "While we welcome the decision of the government, we are still demanding that we get a scheme that guarantees pension for us after retirement."