Good news for these government employees, retirees, new pension scheme announced; set to cost Rs 540 crore
"Ministry of Steel has agreed to the proposal received from various CPSEs under its control to introduce the pension scheme with effect from 1st January 2007 in case of executives and 1st January 2012 in case of non-executives or from a subsequent date as decided by the company," the ministry said in statement.
The steel ministry has agreed to introduce a pension scheme for its CPSEs like SAIL and RINL, a move which will benefit about 96,000 serving and 56,000 retired employees. Image source: Reuters