Union finance minister Nirmala Sitharaman last week announced the establishment of a committee headed by finance secretary TV Somanathan to review the new pension system amidst demands from a section of employees and the decision by some opposition-governed states to revert to the old pension scheme.
The great news for employees provident fund organisation (EPFO) contributors and pensioners is the changes made in the EPFO as directed by the Supreme Court for higher pensions.
Rama Manohar (name changed), a 62-year-old housewife from Mumbai, had approached her bank for advice on an insurance policy that would provide them with a regular income after retirement and also funds for the higher education of their grandson,
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