States told not to delay PF remittances deposit

By Abha Manakatala - Thu Dec 10, 11:09 am

Representational Picture

Representational Picture

The Union Government today said the states should deposit the remittances collected quickly into the Pension Fund Regulatory and Development Authority system so that they do not lose out on interest.

“Pensions and pension payout have become a very big challenge and the liability for the pension payments is going to cast a very heavy burden on the exchequer,” said A N Jha Special secretary Finance Ministry.

There has been a delay in the remittances of pension fund collected by the states to the Pension Fund Regulatory and Development Authority resulting in loss of interest, he said.

Leave a Reply