CAG raises issue of viability of NPS schemes for govt employees

Without such evaluation, there is no guarantee of viability of these schemes, CAG said in its report on the NPS, presented to Parliament on Wednesday

The Comptroller and Auditor General of India (CAG) flag­ged the lack of evaluation of funds and schemes under the Nati­onal Pension System (NPS) for government empl­oyees. Without such evaluation, there is no guarantee of viability of these schemes, CAG said in its report on NPS presented to Parliament on Wednesday.

CAG said the high level ex­pert group (HLEC) had recommended in 2002 that there sh­o­uld be an actuarial evaluation of the funds once in two years as the government might like to rationalise the benefit structure or increase the contribution rate as the case might be. 

“From the documents, responses made available