Tag: pension reforms

Cautioning against a return to the Old Pension Scheme (OPS), a study published by RBI has estimated the cumulative fiscal burden of implementing it at 4.5 times the outgo toward the existing National Pension System (NPS) and warned against the adverse impact on government finances.“Short-run reduction in states’ pension outgo which may be driving decisions to restore OPS would be eclipsed by the huge rise in unfunded pension liabilities in the long-run. States’ reverting to OPS would be a major step backwards and can increase their fiscal stress...