Mizoram govt adopts new pension scheme
RETIREMENT PLAN
Aizawl: All the new recruits for various categories of posts under Mizoram Government with effect from the first September this year will be covered with the new pension scheme known as Tier-I.
The new pension scheme formulated by the Centre has been adopted by the recent Cabinet meeting held under the chairmanship of the Chief Minister, Mr. Lal Thanhawla.
In the new pension scheme, all the Government employees will have to deduct 10 percent of their basic and dearness allowance for their contribution to the scheme and the Government will also make matching contribution equivalent to the amount contributed by the Government servants.
The amount deposited under the pension scheme will be payable only after attainment of superannuation.
According to official sources, another pension scheme known as Tier-II also has been drawn up by the Centre which can be opted by the Government servant.
Under it, the Government will make his own contribution without matching share from the Government and this will be payable to the Government servant whenever require.
ZONET
