Contributory pension from next year

THIRUVANANTHAPURAM: The Finance Department has issued the order that the contributory pension scheme is to be put into practice from next year.

It will be effective for those who enter service from April 2013 onwards.

Organisations had raised a hue and cry regarding the implementation of the scheme but the government had pacified them by assuring that it will not affect those who are already in the service.

Finance Minister K M Mani had earlier said that the current statutory pension scheme causes much financial liability for the government.