A Study on Comparison of National Pension Scheme 2004 with Other Retirement Pension Plans and Subscriber Views about NPS in Some Selected Enterprises with special reference to Kota district
Commerce and Management
Government has introduced a new pension scheme called National Pension Scheme w.e.f 01.01.2004. All such employees who are recruited after 2004 into central or state government services will be under this scheme. With respect to Rajasthan, state government has also implemented NPS 2004 for its employees who are recruited after 01.01.2004 by issuing a memorandum on 28.01.2004 and abolished Rajasthan Civil Services Pension rules, 1996. This article explores the implementation and adoption of NPS 2004 by some selected enterprises of Rajasthan especially in and around the Kota city. The researcher has tried to find out how effectively NPS is introduced into these organisations. Employees and Employers reaction towards its rules and policies. Its adoption is beneficial for both or not. Governments mandate decisions are successful or a complete failure. The study also compares the NPS with other pension schemes available in the market. The researcher used exploratory research method and made a survey by interviewing employees and employers regarding NPS into there organisation. The researcher has found that there is a mixed reaction by employees on NPS 2004. But overall employees are satisfied with returns of NPS and its objectives.