(a) whether the Government have appointed a committee to
recommend a parallel pension scheme for unorganised sector, for
creation of an Autonomous Regulatory Authority to oversee the
functioning of pension scheme and replacement of public provident
fund with a new scheme;
(b) if so, the time by which the Committee is likely to
submit its report; and
(c) the time by which the final decision is likely to be taken
by the Government?
MINISTER OF STATE FOR LABOUR AND EMPLOYMENT ( SHRI MUNI LALL )
(a) to (c): The Ministry of Social Justice & Empowerment had
commissioned, in August, 1998, a project OASIS ( an acronym of Old
Age Social & Income Security ) to examine policy questions
connected with old age income security in India and submit its
recommendations to the Government. The Committee submitted its
final report to the Government on 11.1.2000. The Report contains
recommendations on the schemes and action that Government may take
to ensure that every young worker builds up enough savings during
his/her working life which could serve as a shield against poverty
during his/her old age. The recommendations contained in the
report have a twin focus on further improving existing pension
provisions and to devise a fresh pension plan for such workers who
are not included in the present pension provisions. The report
also recommended to set up a new regulatory Agency called `The
Indian Pension Authority` to oversee and supervise the functioning
of the pension system. The recommendations of the committee are
under consideration of the Ministry of Social Justice &
Empowerment.