Big disclosures have been made in the investigation of Comptroller Auditor General (CAG) report in the new pension system (NPS) of Uttar Pradesh and a case of massive deception has emerged. The CAG investigation revealed that under the new pension system, the details of the deductions from the salary of the employees in Uttar Pradesh from 2005 to 2008 are not available. The CAG has said in the report, it (CAG) has not been able to know how much money the government has made and how much contribution the government has made.
New pension system was implemented in the year of 2005, under the new scheme, employees have to give ten percent of basic salary and other allowance. The State Government also gives the same amount. Thus, the arrangement for both the employee and the government’s holding in the National Securities Depository Limited (NSDL) account is maintained.
The country’s largest audit agency CAG has recommended the action on the scam from Uttar Pradesh government in the new pension scheme. The State Government has said that urgent action will be taken in this regard.