Pvt sector pension scheme on card to safeguard wellbeing of retirees

The government is set to formulate a database of different pension schemes with a view to introducing a pension system for the organised private sector. The pension system will be introduced with the aim to safeguarding the wellbeing of the retirees as per national pension scheme, a government high-up has said. First, the proposed plan will be implemented as a pilot project, a highly placed official said. Before this, a database of different pension schemes will be formulated, he said, adding ‘The scheme will be implemented entirely by 2021 if the pilot project becomes successful’, according to a private TV channel.