Even as the finance minister plans to reach out to all parties and seek their support for the Pension Bill, his ministry is considering a proposal to throw open schemes floated by the public sector fund managers for government employees to all private citizens. According to government officials, the PFRDA had sought legal opinion from its advocate on the issue. “Legally, it does not pose any problems,” said PFRDA chairman D Swarup. Workers in the unorganised sector will be the biggest beneficiaries since they do not have any social security mechanism now. A finance ministry official, however, said such schemes generally become successful if backed by statute. “Ideally, the government would like to make pension funds available to all private citizens by getting the Bill passed at the earliest.”
Source: The Indian Express
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