Govt reviewing proposal to allow workers to switch between EPS and NPS

Option for workers being reconsidered after reactions from employees and employers in recent meetings

The Union government is reviewing its proposal to allow private sector workers to switch between the Employees’ Pension Scheme (EPS) and the National Pension System (NPS), a senior government official said. 

A re-think has been prompted by reactions from representatives of both employers and employees in recent consultation meetings with the labour and employment ministry. 

The government had proposed amendments to the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, in August. It suggested giving private employees an option to switch between NPS — a defined contribution retirement scheme administered by Pension Fund Regulatory and Development Authority (PFRDA) and EPS