Pension Bill unlikely in Budget session

New Delhi, Jan 31 | Updated: Feb 1 2006, 05:30am hrs
The crucial Pension Fund Regulatory and Development Authority Bill is likely to be taken up only in the monsoon session of Parliament, after the polls to the West Bengal assembly are over.

Insiders say that with the Left parties opposing the Bill, the government is unlikely to take up the issue during the next session. They said the government, in a bid to avoid any further embarrassment on the pension issue, would avoid taking up the Bill in the coming session

Fifteen states, including Maharashtra, Tamil Nadu and Orissa, have moved to the new pension scheme, marking a shift from the defined benefit to the defined contribution system.

It is no more an administrative issue now. We are ready with our work on the Bill. We can present the Bill immediately after we get the green signal from political quarters, government sources said.

All central government employees, who joined the services from January, 2004, onwards, would automatically come under the new pension scheme.

However, pressure is building up on the UPA government from various quarters, to exclude the central government employees from its purview to move ahead with the Bill.

Official sources said the government has drifted away from the core objective of the Bill, which is to cater to the unorganised sector.