INDIA: New pension scheme for Haryana State employees

. CHANDIGARH (The Hindu Business Line), August 18, 2008: Haryana Government decided today to introduce a new pension scheme on contributory basis for all Government servants who have joined service on or after January 1, 2006 on the Central government's pattern. A decision to this effect was taken in a meeting of the State Cabinet presided over by the Chief Minister, Mr Bhupinder Singh Hooda. The new pension scheme will be implemented on the pattern of Central Government and known as the Haryana New Pension Scheme, 2008. It will work on defined contribution basis from the employee and the government. The Government servant shall have to make a contribution of 10 per cent of his basic pay plus dearness pay and dearness allowance, which would be deducted from his salary bill every month. A matching contribution shall be made by the State Government for each Government servant who contributes to the scheme. No deduction shall be made towards General Provident Fund (GPF) contribution from the Government servants joining the service on or after January 1, 2006 as the GPF scheme is not applicable to them. Copyright © 2008, The Hindu Business Line.