Pension for all citizens deferred due to election code

NEW DELHI: The government has deferred the April-one launch of a much-talked about pension scheme for all its citizens, citing the model code of conduct for general elections.

"Keeping in view the model code of conduct for elections, it has not been possible for PFRDA (interim pension regulator) to continue information campaign and undertake other preparatory activities as originally scheduled.

"It has, accordingly, been decided to defer the date of extension of the new pension system," an official statement said today.

The Centre has already implemented a new pension system (NPS) for its employees who joined on or after January one, 2004.

In August 2008, the government advised the Pension Fund Regulatory and Development Authority (PFRDA) to extend the NPS to all citizens.