Almost seven years after it was launched, only nine states and union territories have so far contributed to New Pension System, Parliament was informed today.
In a written reply to the Lok Sabha, Minister of State for Finance Namo Narain Meena said that the nine states and UTs -- Bihar, Chhattisgarh, Haryana, Jharkhand, Karnataka, Madhya Pradesh, Punjab, Puducherry and Uttarakhand --have contributed a total of Rs 666.10 crore till November 12 this year.
The New Pension System, a defined contribution based pension system, was launched by Government of India, with effect from January 1, 2004.
"So far, 26 state/UT governments have notified NPS for their employees," Meena said. Kerala, West Bengal, Tripura and Sikkim have yet to notify the NPS.
He said the central government and interim regulator Pension Fund and Regulatory Development Authority (PFRDA) have requested all states to complete the required formalities and upload funds.