The hike in dearness allowance (DA) of Central government employees is expected be four per cent. The approval for the same may come in March, that is, next month, and be paid in April 2024. However, the same will be implemented with effect from 1 January, 2024. That means, employees can look forward to receiving their arrears for the January to March period.
Meanwhile, in Kerala, the state government has announced an assured pension scheme for employees. According to State Finance Minister KN Balagopal, one instalment of dearness allowance for government employees and pensioners will be paid in April 2024. The prevailing contributory pension scheme will undergo review. As far as social-security pensions are concerned, there will be no hike.
Aware that the new pension system (NPS) has led to a lot of doubt and insecurity amongst employee, a three-member committee has been set up to closely study the report of the committee appointed by the government to see how the same can be revised.
The state government is considering revising the NPS and ensure security for the employees.
A sum of Rs 553.31 crore has been allocated to social security and welfare programmes as well as an international artificial intelligence (AI) conclave scheduled to be held in July, in collaboration with IBM this year.
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