Replacement rate ranges from 56% to 68% of last salary slab
A Cabinet note prepared by the finance ministry on the new pension scheme for fresh government recruits has pegged the returns at between 56 per cent and 68 per cent of the last salary slab, against a flat 50 per cent offered by the government to existing employees.
The note, expected to be forwarded to the Cabinet Committee on Economic Affairs (CCEA) in the next fortnight, said it was expected that the contribution by an employee as well as the government would achieve