Govt intends to retain NPS in view of heavy fiscal stress on account of implementing Old Pension Scheme – Finance Ministry writes to other Ministry D.O. No.8/5/2018-PR Arun Jaitley Minister of Finance and Corporate Affairs India Dated the 03 January, 2019 Dear Shri Nitin Gadkari This has reference to your D.O. letter dated 28.10.2018 regarding the National Pension System (NPS). 2. I would like to apprise you that due to fiscal stress on account of old defined benefit pension system, the Government of India made a conscious move to shift from the old pension scheme to a defined contribution pension scheme now renamed as the National Pension System (NPS). NPS was made applicable for
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