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Kerala Government Decided to Start New Pension System

     Kerala Government decided to start new pension system from next financial year that is from April 1-2013. In new pension system, the pension amount will collect partly from government employee and other half is from the government itself. The government employees who will start the service from next April 1 should give 13% of the amount which include their salary & DA for the new pension system monthly. The government also deposit the equal amount for this in the name of each employee. The above mentioned amount will invest in the central government securities. These shares have particular interest. When one will retire, this interest will get to him. The employee can invest this amount in mutual funds also. For that, one can give option. If there is growth in mutual fund, he will get the profit from this. If there is a decline, the employee can not get any profit. It will badly effect the income of the employee. Here is the importance of the 'option'.

    This pension system is to improve the financial condition of the Government. New pension system will not effect the present government employees. Now this system is a burden for the government. But after some years it will give huge profit to the government when a great number of retirements will occur.

     When the rank lists complete by the new appointments all of the employees will include in the category of the workers who would affect the new system of pension. The government will get more profit from this and get mare advantage to overcome its financial crisis. According to the present condition the government should distribute huge amount of money as pension. By the introduction of the new system the burden of the government will decrease in this field.   
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