The main federal government on Monday once again clarified that the funds transferred for National Pension Scheme (NPS) can not be offered to state federal governments based on the existing laws. Both financing minister Nirmala Sitharaman and financing secretary Vivek Joshi stated that if any state is anticipating that the funds transferred for NPS can be gone back to them then it is difficult. Mentioning the current crash in Adani group business’ shares, Rajasthan chief minister Ashok Gehlot had previously stated that the staff members of the state federal government can not be left at the grace of the share market where National Pension Scheme (NPS) funds are invested. He had actually likewise advised the Centre to provide the funds of the state civil servant transferred in NPS and stated that the state will relocate to the Supreme Court if the funds are not moved to the Old Pension Scheme (OPS) being executed by the state federal government. “If one state anticipates that the funds transferred with the EPFO needs to be provided to the states. If this is the expectation then no. Workers have the privilege to the cash. The transferred cash is making interest and there needs to be clearness that the cash enters into the hand (workers) post-retirement. The cash transferred will enter into the hands of the federal government, it is difficult,” Sitharaman informed representative
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