Punjab government increases its share in New Pension Scheme

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Chandigarh, December 2: Accepting the demand by various state government employees’ unions, the Punjab cabinet on Monday decided to increase its share in the New Pension Scheme, in line with the decision of the Centre, with effect from April 1, 2019.

The Cabinet also agreed to give the benefit of the Death-Cum-Retirement Gratuity to all the employees of the state government recruited on or after January 1, 2004 and covered under the New Pension Scheme.

The Cabinet also gave in-principle approval to amend the Punjab Village Common Land (Regulation) Rules, 1964, to create land banks in rural areas to boost industrial development in the city.