Centre clears 4% rise in govt contribution to its staff's pension

Finance Minister Arun Jaitley on Monday announced that the Centre has decided to increase its contribution to the National Pension System for the central government employees to 14% from 10%. The Centre also made the withdrawal of amount at the time of retirement tax free. Additional burden on the exchequer will be ₹2,840 crore for the 2019-20 fiscal, Jaitley said.