The new pension system introduced at the national level in 2004 was implemented in the State from January 2010 and termed as a major step towards instituting pension reforms. The move from a defined benefit pension to a defined contribution based pension system is aimed at reducing the pension liabilities. Under the provisions of the scheme, it is incumbent upon the Government to contribute the matching share (10% at present) and release it in time in order to reach the designated Central Recordkeeping Agency (CRA). The fact of the matter is that the State Government has reportedly not released its share towards the NPS for several months much to the disappointment of the employees. This defeats the very purpose of the new system and also creates confusion among the employees who are forced to approach Treasury Officers/DDOs intermittently to ascertain the status of the matter and to know whether or not the Government had remitted its matching share. If the reason of resources constraints is put forward by the Government for the inordinate delay, it is not convincing the employees who argue that there seems to be no constraints of resources crunch when ostentatious expenditures are incurred by the Government itself. As the New Pension System was launched on the ground that State does not have resources to meet the burgeoning pension bill, the Government should not allow the new system to be held hostage by the funds constraints. It shall be in the fitness of things, therefore, to address this problem on priority. Keeping in view the fact that such a situation has arisen a number of times since January 1, 2010 when the NPS was launched in the State, the Government must find a permanent solution to this crisis in order to ensure release of matching share without any interruption.
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