Is there a middle way between the Old Pension Scheme and the New Pension Scheme? | In Focus podcast
In Focus by The Hindu
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Is This Going to Bankrupt the Governments?
In the old scheme, you have a defined benefit regardless of whatever is happening in the external world and you don't have to contribute. Unlike in the new one where you have to contribute and what you're going to get when you retire is not defined in advance, it depends on the market. So this is depending on the tax revenue, which is where the point that this is going to bankrupt the governments and all that.
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