7th Pay Commission : In December, as an early New Year bonanza to government employees, the Modi government had decided to tweak the New Pension Scheme (NPS) - also known as National Pension Scheme - to not only hike up the Centre's contribution to the corpus but also introduce tax exemptions. However, the decision had not been formally announced keeping in mind ongoing state polls at the time.
The buzz is that the government could now issue the notification announcing the new features as early as next week. "The government has not changed the name of the pension scheme and has still kept its name as the new pension scheme. However, some improvements have been made in the scheme," Indian Public Service Employees Federation president VP Mishra told Zee Business Online.
Here's a look at the key changes in the offing:
With PTI inputs