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Resolution Adopted by Legislative Assembly of Delhi State to Abolish CPS

Resolution Adopted by Legislative Assembly of Delhi State to Abolish CPS

The Legislative Assembly of the National Capital Territory of Delhi unanimously adopted the following resolution moved by Shri Ajay Dutt. tion'hle Member of Legislative Assembly in its sitting held on 26/ 1 I /2018:
The Legislative Assembly in its sitting on 26 November 2018 resolves That:
Taking note of the negative consequences of the anti-employee National Pension System (NPS) that is imposed on the Government Servants by the then NDA Government in 2004 and sustained by the UPA-I LTA-11 and UPA-II Governments.
given the fact that unlike the old pension Scherne, the NPS:
does not give any guarantee to the employees either for assured returns on investment  or for minimum pension
Does not provide  for family  pension social security, pension or social security
does not provide for loan facility when in dire need.
does not provide for annual increments and hike in D: t.
does not allow the employees to withdraw enough money from their own pension fund to meet the medical emergencies,
 leaves the employees at the mercy of volatile markers and the forces that have notoriously bee manipulating the markets.
imposes draconian restrictions on withdrawals from pension fund.
allows the insurance companies to exploit employees by way of forcing them to buy annuity fat minimum of ten years evert after retirement and runs contrary to the spirit of welfare state as enshrined in the Constitution.

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Resolution Adopted by Legislative Assembly of Delhi State to Abolish CPS
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