Finance Secretary T V Somanathan to head panel on pension schemes: FM

"The approach will be designed for adoption by both the central government and state governments," the finance minister said

Finance Secretary T V Somanathan would head a committee to look into the pension issues of government employees, Finance Minister Nirmala Sitharaman said on Friday.

The move comes in the backdrop of a number of states ditching the New Pension Scheme (NPS) and moving back to the older one for their employees.

“I propose to set up a committee under the finance secretary to look into the issue of pensions and evolve an approach which addresses the needs of employees while maintaining fiscal prudence to protect common citizens,” Sitharaman said while speaking on the Finance Bill amid a din in