Lok Sabha passes Pension Bill
The Lok Sabha today passed the Pension Fund Regulatory and Development Authority Bill 2011, which aims to create a regulator for the pension sector and extend the coverage of pension benefits to more people. The Pension Bill has been hanging fire since 2005 when it was first introduced in the Parliament. It was again reintroduced in 2011. Replying to the debate on Pension Bill, Finance Minister P. Chidambaram said 26 states have joined NPS and it would help extend pension benefits more people.
