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PSU employees in Punjab now entitled to pension benefits

Statesman News Service | Chandigarh |

In a major relief for the hundreds of government employees in Punjab, the state’s Finance Department on Tuesday made it clear that the benefits of pension scheme applied before 1 January, 2004 will be implemented to those who were recruited between 1 January, 2004 to 8 July, 2012.

An official spokesperson of the state Finance Department said that the employees working with Public Sector Institutions (PSIs) and Autonomous Institutions (AIs), which have implemented the New Pension Scheme (NPS) from 9 July, 2012 will be benefited from the move.

The spokesperson further added that those PSIs and AIs where new defined contribution pension scheme was not implemented for some reason, since 1 January, 2004, must implement this scheme from July 9, 2012 as per the instructions of the state Finance Department.

The correspondence in this regards has been issued to the heads of the departments and the concerned parties, added the spokesperson.