Aug 9, 2012

Contributary Pension in Kerala from April 2013

Thiruvananthapuram. Kerala finance department issued an order to implement contributory pension scheme in the state from April 1 ,2013. As per the order candidates who joined in service after April 1st will not get the benefit of the present pension scheme. As per the new pension scheme the new employees will contribute 10% of the pay + DA to the pension fund. Govt will also contribute the same amount to the scheme. But their will be no surety for the pension.ie the pension fund will go to the share market. The pension fund regulating authority will give pension to the retired employees based on the profit from share market. Govt will not have any role in pension distribution.
VIEW GO(P)No.441/2012/Fin Dated 08/08/2012 

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