AMC to adopt defined contribution scheme

Aurangabad, Oct 24:

No contributory pension scheme has been implemented for the officers and employees who joined the municipal corporation service after 2005. The Hingoli Zilla Parishad has implemented the defined contribution pension scheme. In the same manner, a team of senior officers went to Hingoli and studied the scheme to implement it in the Aurangabad Municipal Corporation (AMC).

The state government has introduced a contributory defined national pension scheme (NPS) for employees entering government service after November 1, 2005. Hingoli ZP has formulated a model for the implementation of contributory definition NPS. The then chief accounts and finance officer of ZP Dr Deepak Hiwale made this model a success. Giving information in this regard, city engineer Sakharam Panjhade said, to study the plan, the head of the committee Dr Hiwale, Panjhade, deputy commissioner Aparna Thete, chief accounts officer Sanjay Pawar visited Hingoli ZP on Friday. The concerned officials expressed their readiness to extend full cooperation to the municipal corporation for the implementation of this pension scheme. A team will soon come to the corporation for a presentation, said Panjhade. Administrator Astik Kumar Pandey has taken initiative to implement pension scheme in AMC.